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Dissertations / Theses on the topic 'Firm Size'
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Halvarsson, Daniel. "Firm Dynamics : The Size and Growth Distribution of Firms." Doctoral thesis, KTH, Samhällsekonomi (Stängd 20130101), 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-118333.
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This thesis is about firm dynamics, and relates to the size and growth-rate distribution of firms. As such, it consists of an introductory and four separate chapters. The first chapter concerns the size distribution of firms, the two subsequent chapters deal more specically with high-growth firms (HGFs), and the last chapter covers a related topic in distributional estimation theory. The first three chapters are empirically oriented, whereas the fourth chapter develops a statistical concept.QC 20130215
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Chrisanthopoulos, Themistoklis. "Firm size differentiation in Japan." Thesis, McGill University, 1991. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=61114.
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The Japanese labour market is analyzed within a dual labour market context and an emphasis on firm size differentiation. Labour market segmentation theories are presented for the purpose of understanding the differences that can exist between industries, or in this case, between firm sizes. Data on labour market variables such as wages, unionism, and promotion illustrates the different employment package that employees face in small firms as compared to workers in large companies. Unique Japanese labour market traits such as the expectation of lifetime employment, enterprise unionism, and seniority-based wages are also observed to evaluate their application in different company sizes. Japan's labour market segmentation is primarily a study of differences between firm sizes. The dissimilarities in employment characteristics between small and large firms are thoroughly examined and evaluated for a solid understanding of Japan's duality in the labour market.
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MEMBRETTI, MARCO. "Firm size and the Macroeconomy." Doctoral thesis, Università degli Studi di Milano-Bicocca, 2023. https://hdl.handle.net/10281/403956.
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La tesi è formata da due capitoli su dinamica della distribuzione delle imprese e shock aggregati. Usando un modello ad imprese eterogenee, la tesi studia le fluttuazioni di ciclo economico dovute a shock alla tecnologia ed ai costi in entrata.This dissertation collects two essays on firm size dynamics and aggregate shocks. By employing a model with heterogeneous firms, search frictions and endogenous entry/exit we investigate the business cycle dynamics of the firm size distribution by looking at entry cost and technology shocks. The thesis is divided into two chapters.\\ The first chapter explores how an increase in entry costs affects the size of new entrants and the concentration of employment according to firm size, along with its effects on macro-variables such as unemployment and the exit rate. To this aim we use a BVAR model to estimate the response of such variables to an entry cost shock, then we develop a heterogeneous-firm model with search frictions and endogenous entry/exit dynamics calibrated on data from Business Dynamics Statistics (BDS) database to address our empirical results.\\ We find that positive entry cost shocks increase the average size of entrants and move employment shares toward the largest firms. These results reveal the role of entry costs' fluctuations in explaining the dynamics at business cycle horizons of both firm and employment share distributions according to size.\\ The second chapter perturbed the model with a technology shock to replicate the long-run differential of job destruction due to exit between small and large firms and its empirical response to technology shocks (estimated by a BVAR). Contrary to frameworks with \textit{exogenous} exit, the model is able to account for the volatility of exit and the differential of job destruction due to exit between small and large firms conditional to the technology shock. Moreover we find that not only entry but also exit is a viable amplification channel for the response of unemployment to the shock.\\
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El-Haj-Hassan, Boushra. "Firm Size and Technology Commercialization in Canada's Biotechnology and Manufacturing Sectors with a Focus on Medium-sized Firms." Thesis, Université d'Ottawa / University of Ottawa, 2012. http://hdl.handle.net/10393/22644.
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Innovation and commercialization are crucial for the competitiveness and economic well-being of countries. Despite the importance of innovation, recent studies have showed that Canada is lagging behind other countries in terms of its innovation and commercialization performance. The claim is often made that Canada performs well in generating the knowledge needed for innovation; however, the problem lies in transforming this knowledge into commercial success. Thus, a major preoccupation is how to turnaround this weak commercialization performance. Despite the wide range of programs, policies and regulations implemented by the Canadian Government along with its provincial counterparts to engender a turnaround, little has changed in Canada’s commercialization performance. Therefore, the search for solutions continues.
Given that commercialization takes place at the firm-level, this study will explore the relationship between firm-size and commercialization. Several existing studies have examined the link between innovation and firm size, but few have examined the link between commercialization and firm size.
Despite the arguments supporting medium-sized firms’ ability to commercialize innovations, there is a weak empirical base that explores the position of Canadian medium-sized firms and their innovation and commercialization capabilities. This study will contribute to the existing knowledge by covering the gap in the literature concerning the role of medium-sized firms in commercialization, compared to small and large firms. This study provides evidence suggesting that small and medium-sized firms should be considered differently.
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Cao, Yirong. "Performance, Corporate Governance and Firm Size." Thesis, University of Leeds, 2008. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.491753.
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Given the interactive relationship between firm size and corporate governance from the literature, this study examines whether firm size will place an impact on the relationshijJ between corporate governance structure and firm performance. From the ownership-performance (accounting-based) structure, the results suggest that firm size does not significantly change the nonlinear correlation ---------betweenthese-twofactors.--However, -large -firms -and -small--firms -do -show------------- difference in some other aspects: for example, the ownership-performance relation is influenced by unobserved firm fixed effects for large firms to a greater extent, while small firms are more affected by industry effects. Furthermore, similar results are found when board diversity is used as the -measure of corporate governance. Again, large firms and small firms show little difference on the relationship between board diversity and firm financial . performance. The two samples report little or negative correlations between the J two variables. It seems that over-diverse opinions may distract board decisions, and reduce board efficiency. A similar profile IS found when I examme the link between. the directors'nomination structure and firm financial performance. Both large firms and small firms show that- -insiders' specific knowledge is beneficial to firm performance, but the influence is not significant. Finally, a market-based measure of firm performance is employed in comparison to the above three parts. Although board diversity cannot enhance firm financial value, investors show greater interest in large firms with di,;,erse boards. , Large firms with the most diverse boards experience the largest variance surrounding news events, while this is not the case for small firms. Furthermore, the amount of fluctuation in small firms is systematically larger than that in large firms. ~--- ----- - Collectively, -this -study does -not.provide -consistent results to support -that.firm -------- _ _size can significantly alter the relationship between corporate governance and firm performance. The findings confirm the non-linear relationship between managerial ownership and firm financial performance even after firm size and endogeneity are controlled. Furthermore, this research reveals that the market shows more interest in large firm size and board diversity, although there is no significant correlation between board diversity and firm financial performance. -This proves that accounting measures and market measures may produce distinctive results. In the equity market, the difference between large firms and small firms is exaggerated because ofthe investors' irrationalities.
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Wang, Shiyun. "Essays on firm size and growth." Thesis, University of Cambridge, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.619585.
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Cengizoglu, Gonca. "Effect of Firm Size on Female Earnings." Thesis, University of North Texas, 1994. https://digital.library.unt.edu/ark:/67531/metadc500428/.
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There are various factors effecting females' wage level such as marital status, occupation, education, and experience. This paper also includes firm size and answers the questions: What effect does firm size have on female earnings? Is that effect different for black than white females?
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Arslan, Safa. "HRM and firm performance : an investigation of Turkish mid-size IT firms." Thesis, Aston University, 2017. http://publications.aston.ac.uk/31753/.
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This research aims to explore and highlight the nature and type of human resource management (HRM) practices exist, and explain how they contribute towards firm performance in medium-sized information and communication technology (IT) businesses in Turkey. To achieve this, a mixed methods approach was adopted involving two phases of data collection. In Phase 1, data were collected from 55 participants at 14 firms, which highlighted the nature of HRM practices prevalent at the research firms and explored the linkages between HRM and firm performance and employee performance. Furthermore, during this Phase, an integrated multi-level model of HRM and performance was developed. This model presents relationships between HRM, organisational citizenship behaviour (OCB) and intellectual capital of the firm at employee level. Moreover, it also presents linkages between HRM practices, corporate entrepreneurship (CE), intellectual capital and financial performance at the firm level. Phase 2 of the study adopted a survey method to test the model developed in Phase 1. For this, data were collected from 310 employees and managers at 21medium-sized IT firms in Turkey. Overall, the findings suggest that medium-sized IT firms are becoming more innovative and proactive via enhancing the effectiveness of HRM. HRM practices also help employees by improving their creative and organisational behaviours. The study also indicate that HRM practices play a mediator role between HRM and corporate entrepreneurship. This study contributes to the growing body of literature on HRM in Turkey in general and the role of HRM in supporting mid-sized IT firms in Turkey in particular, by employing a mixed method approach involving both qualitative and quantitative studies. It also contributes to the debate on the resource-based view of the firm (RBV), and social exchange theory (SET) by examining the relationship between HRM and firm performance at both the organisational and individual levels. Based on the perspectives of RBV and SET, the influence of HRM practices is expected to positively affect the levels of employee creativity (human capital - knowledge, skills and abilities) and organisational collaboration (social capital - interaction, helping behaviours and relational connections) within the research firms. A firm’s human resources are an essential element in developing entrepreneurial behaviours that lead to a sustained competitive advantage, which eventually leads firms to have better performance.
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Huang, Hsin-I. "One size does not fit all: regional ecology, firm size, and innovation performance." Diss., Georgia Institute of Technology, 2012. http://hdl.handle.net/1853/45949.
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This dissertation aims to answer the main question of "How does regional ecology (few or many small innovative firms in a region) enhance or limit innovation?" Put differently, how vital is the mix of small and large firms for regional innovation performance? From the policy perspective, the results of this study shed some light for policy maker to assess the "knowledge searching" strategies of firms when choosing locations. The research design combines a unique survey of patent inventors in the United States and archival data. Georgia Tech inventor survey data contains commercialization measures for patented inventions and information on firm characteristics. Using this archival data, data has been collected on regional innovation measures, regional-level attributes and project-level measures.
The results indicate that the agglomeration of specialized firms is positively associated with regional innovation activities, as the Marshall-Arrow-Romer model proposed. In addition to traditional regional measures, small firm dominated ecology is a strong factor explaining regional commercialization activities, even though the role is not very significant when explaining the regional patenting activities. It is suggested that the organizational ecological perspective is complementary to understand information flow mechanisms in innovative regions. One mechanism of SME dominated ecologies is partially through the increase of skilled labor mobility. Furthermore, when the regional ecology moves towards being dominated by small firms, large firms benefit more from the presence of many innovative small firms than SMEs. By contrast, the concentration of innovative small firms does not add much value for SMEs. I suggest the focus of policies should be on understanding the heterogeneous ability of accessing localized knowledge resources between large and small firms. Deriving from the findings, policy implications and future research are discussed.
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Puntaier, Elmar. "Firm size inequality : industry dynamics, entrepreneurship and welfare." Thesis, University of Leicester, 2015. http://hdl.handle.net/2381/32902.
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This thesis analyses the dynamics and determinants of the size distribution of firms and examines its implications on welfare. It draws on Schumacher‘s proposition of a 'balanced‘ size distribution of firms as a precondition for sustainable economic development, which conflicts with models predicting an increase in firm size inequality in the long run. For the said dynamism to be understood, the historical development from the First Industrial Revolution is reproduced and emerging patterns set in relation to the evolutionary approach to economic development. This leads to the central argument of this thesis, which is the need for a fair share of medium-sized firms in order to maximise innovative capacity, economic resilience, net job creation and sustainability. To identify the forces driving firm size inequality and the extent to which rebalancing is possible, this thesis consolidates the streams Gibrat‘s Law initiated. The industry-level analysis of the UK, Italy and Germany from 2001 to 2010 demonstrates that the size distribution of firms converges to a lognormal distribution. For technology-rich firms, firm size inequality is inversely U-shaped and the systemic erosion of diversity reduces the options to rebalance. In service industries, industry dynamics are more intense and cause a faster increase in firm size inequality. The resulting co-existence of small and large firms reduces spill-over effects and the ability to recover from macro-economic shocks, but these, paradoxically, increase firm size inequality. To delay the process of increasing firm size inequality, small and medium-sized firms need to engage with export activities and accumulate intangible assets. As the owner-managed firm commercialises on uncertainty and the large firm escapes from it, preserving the 'middle‘ is rewarded with a higher degree of innovative capacity and contributes to sustainable growth. There are also windows of opportunity where rebalancing is possible and from these openings new industries emerge.
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Allen, Caitlin Shannon. "Firm Size, Age and Growth in South Africa." Master's thesis, University of Cape Town, 2018. http://hdl.handle.net/11427/29416.
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The relationship between a firm’s size, age and proportional growth rate is examined using multiple samples of South African firm-level data from the early to mid-2000s. The foundation of this study is Gibrat’s Law of Proportionate Effect (Gibrat, 1931), which states that a firm’s proportional growth rate is independent of its absolute size at the start of a given period. It is assumed that firm growth follows a random walk and, therefore, should not be affected by firm size. An implication of Gibrat’s Law of Proportionate Effect is that the firm size distribution is lognormal. However, based on both empirical and theoretical literature, this theory of firm growth has fallen out of favour and been replaced by the proposal that there is an inverse relationship between a firm’s proportional growth rate and both its size and age. Two questions are evaluated in this research using the samples of South African firms. The first is whether the firm size distribution is lognormal. If this is not the case then Gibrat’s Law of Proportionate Effect can be rejected. However, this approach cannot confirm that Gibrat’s theory is valid and will, therefore, be referred to in this paper as a partial test. It was shown that the log firm size distribution was not normal, but rather right-skewed with a Pareto distribution characterising the upper tail. Consequently, Gibrat’s Law of Proportionate Effect was rejected for the datasets of South African firms. This evidence is largely observational and does not explicitly assess the relationship between proportional growth rates and firm size. Therefore, the second question is whether Gibrat’s Law of Proportionate Effect holds. This was investigated by testing conditions derived from Gibrat’s Law of Proportionate Effect, the results of which can lead to either the rejection or acceptance of this proposition. This study extends Gibrat’s research in order to determine the relationship between firm age and proportional growth. Statistical methods, such as Ordinary Least Squares regressions, considering only firms that survived the period under consideration, were used. The results revealed that Gibrat’s Law of Proportionate Effect was invalid and there was a systematic tendency for the smaller, younger South African firms in the datasets to grow proportionally faster than the larger, older firms. This finding supports the view that firm growth is not entirely random.
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Issar, Rajiv Issar. "Market Capitalization and Firm Value: The Size Factor." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4224.
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Current multifactor valuation pricing models use size (measured by market capitalization) of a firm as one factor to determine the value of a security. The problem with current standard models was that none of them could explain the value of a security consistently and accurately based on current factors and in particular the size factor. The purpose of this quantitative study using existing time-series data over a 10-year period from 2006 to 2015 was to examine the impact of size factor on the realized rate of return of financial securities, while controlling for the impact of market rate of return. There are currently many valuation models but there is no 2-factor model or a model that uses a size factor that includes mid-cap sized securities. The research questions examined mid-cap sized securities for the size factor in a 2-factor model to determine the accuracy of predicting financial returns compared to the current standard Fama-French 3-factor model. The main theoretical framework that guided the study was the efficient market hypothesis that postulates that the price of a stock reflects all relevant available information. Data were collected for historical returns of 15 individual firms and portfolios of securities based on size. Multiple regression analysis methodology was used to examine the impact of size factor on the realized rate of return of financial securities, while controlling for the impact of market rate of return in the modified 2-factor model that included mid-caps. The results of the study indicate that size is a statistically significant factor in a 2-factor model that included mid-caps. The positive social impact of this study is that it could provide greater confidence in financial markets by providing a fair and equitable means of investment and flow of capital for a robust economy.
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Elert, Niklas. "Economic dynamism : essays on firm entry and firm growth." Doctoral thesis, Örebro universitet, Handelshögskolan vid Örebro Universitet, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-34804.
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The topic of this thesis is economic dynamism. The five articles contribute to the literature on firm entry and firm growth. Studies are based on a dataset covering all Swedish limited liability firms between 1997 and 2010. The first article investigates conditions for firm entry in Sweden, distinguishing regular entrants from entrants that survive for at least two years, modelling the firm entry decision using count data models. While high income and a well-educated population had a positive effect, the effect was more important for surviving entrants. The second article uses a similar method, but focuses on wholesale industries and distinguishes between regular entry and in migration of firms, i.e. when an incumbent firm relocates its operations. Access to a university, many educated workers and low local taxes had positive effects. Better access to infrastructure had a strong positive effect on entrants, but it was smaller for in-migrating firms. The third article investigates if the industry context matters for whether Gibrat’s law holds, i.e. whether firm growth is independent of firm size. The law is found more likely to be rejected in industries with a high minimum efficient scale and a large number of firms located in metropolitan areas, but more likely to hold in industries with high market concentration and more group ownership. The fourth and fifth article contribute to the high-growth firms (HGFs) literature. In the fourth article it is examined whether the way HGFs are defined matters for the policy implications. It is found that the economic contributions of HGFs differ significantly depending on definition. Young firms are however more likely to be HGFs irrespective of definition. The fifth article considers the frequent argument that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are thought more likely to become HGFs. We examine this assumption by studying the industry distribution of HGFs. Results indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. By contrast, we find that HGFs are overrepresented in service industries with a high share of human capital.
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Amel-Zadeh, Amir. "Essays on firm growth and size : the impact of corporate takeovers and firm size on financial performance and capital market efficiency." Thesis, University of Cambridge, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.611313.
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Wilson, Hugh David Economics Australian School of Business UNSW. "The Firm Size Effect: An Application of Hierarchy Theories." Awarded by:University of New South Wales. School of Economics, 2000. http://handle.unsw.edu.au/1959.4/32642.
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In this thesis the positive relationship between firm size and wages is investigated through the application of hierarchy theories. Many different explanations have been proposed for this relationship, but have met only limited success at best. The strongest finding to date is that unobserved ability is a significant factor. The question of interest here is ???why do wages increase as the size firm increases???? Hierarchy theories take a different approach towards the analysis of firms in comparison to the alternate theories which have dominated previous investigations. As a result of their focus on the organisational relationships within a firm???s internal structure, hierarchy theories offer certain insights to the size-wage relationship which to date have been unnoticed. An empirical investigation into the size-wage differential incorporating structural considerations into an augmented wage equation offers strong support for the propositions of hierarchy theories. I find that half of the firm size effect for workers can be explained by controlling for some aspects of management structure, and that span of control has a discontinuous effect on wages. These results are completely consistent with the existing findings on unobserved ability and have the added attraction of providing economic as well as statistical explanatory power.
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Demir, Ibrahim. "The firm size, farm size, and transaction costs the case of hazelnut farms in Turkey /." Connect to this title online, 2007. http://etd.lib.clemson.edu/documents/1202498616/.
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VU, Thi Bich Lien. "Small Privately-Owned and Large State-Owned Manufacturing Firms in Vietnam: A Productivity Comparison for 2000-2005." 名古屋大学大学院経済学研究科, 2014. http://hdl.handle.net/2237/20474.
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Samiloglu, Andac Tore. "Export Dynamics, Size And Productivity Of Firms." Master's thesis, METU, 2003. http://etd.lib.metu.edu.tr/upload/12609087/index.pdf.
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In this thesis we examined the export dynamics at the firm level. A two period model is proposed for the life of firms. The firms may have three different behaviors: staying out of markets, producing for the domestic market, and producing for both the domestic and the export markets. During two periods, firms may enter or exit the markets according to their expected) profits. All firms are profit maximizing such that they compare the maximum (expected) profits in the domestic and export markets. Firms are also heterogenous so that they have different levels of productivity. We examined changes in investment, market share and profits with respect to changes in the market and firm parameters. The profits and investments of the exporting and non-exporting firms are compared by both analytical and numerical methods.
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尹錦銘 and Kam-ming Galaxy Wan. "Firm size is limited by the monitoring ability of entrepreneurs." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1992. http://hub.hku.hk/bib/B31977169.
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Wan, Kam-ming Galaxy. "Firm size is limited by the monitoring ability of entrepreneurs." [Hong Kong : University of Hong Kong], 1992. http://sunzi.lib.hku.hk/hkuto/record.jsp?B1327885X.
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Li, Xiaoying. "Impact of firm characteristics on wages : Industry wage differentials and firm size-wage effects in Sweden." Thesis, Umeå universitet, Nationalekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-123299.
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Wage structure has shown to be crucial for firms and workers. However, there existwage dispersion for identical workers in labor markets. The paper measures the effectof industry and firm size on wages in Sweden. The results show that both industry andfirm size have significant effects on wages. Regarding the explanation factors, thefinding is that human capital factors can explain a portion of the industry wagedifferentials, but have less impact on wage differentials across firm size. However,compensating differentials and union organization are not the determinants of theindustry wage differentials and firm size-wage effects. In addition, unobservedindividual characteristics can partly explain firm size effect on wages, but cannotexplain industry wage differentials based on our samples.
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Sims, Robert H. "Hazard abatement as a function of firm size the effects of internal firm characteristics and external incentives /." Santa Monica, CA : RAND, 2008. http://www.rand.org/pubs/rgs_dissertations/RGSD227/.
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Won, Changhee. "Unionism and turnover : exit-voice tradeoff, firm size, and spillover effects." Connect to resource, 1988. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1262608789.
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Canbäck, Staffan. "Bureaucratic limits of firm size : empirical analysis using transaction cost economics." Thesis, Brunel University, 2002. http://bura.brunel.ac.uk/handle/2438/9030.
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This thesis tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialisation, bureaucratic insularity, incentive limits of the employment relation and communication distortion due to bounded rationality. Furthermore, Williamson argues that diseconomies of scale are counteracted by economies of scale and can be moderated by adoption of the multidivisional organisation form and by high internal asset specificity. Combined, these influences tend to cancel out and thus there is not a strong, directly observable, relationship between a large firm’s size and performance. A review of the relevant literature, including transaction cost economics, sociological studies of bureaucracy, information-processing perspectives on the firm, agency theory, and studies of incentives and motivation within firms, as well as empirical studies of trends in firm size and industry concentration, corroborates Williamson’s theoretical framework and translates it into five hypotheses: (1) Bureaucratic failure, in the form of atmospheric consequences, bureaucratic insularity, incentive limits and communication distortion, increases with firm size; (2) Large firms exhibit economies of scale; (3) Diseconomies of scale from bureaucratic failure have a negative impact on firm performance; (4) Economies of scale increase the relative profitability of large firms over smaller firms; and (5) Diseconomies of scale are moderated by two transaction cost-related factors: organisation form and asset specificity. The hypotheses were tested by applying structural equation models to primary and secondary cross-sectional data from 784 large US manufacturing firms. The statistical analyses confirm the hypotheses. Thus, diseconomies of scale influence the growth and profitability of firms negatively, while economies of scale and the moderating factors have positive influences. This implies that executives and directors of large firms should pay attention to bureaucratic failure.
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LESCANO, ALVARO ESTEBAN COX. "LEGAL CAPACITY, HISTORICAL DEVELOPMENT, AND FIRM SIZE: EVIDENCE FROM COLONIAL PERU." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2018. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=34854@1.
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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRONeste artigo, nos concentramos num canal através do qual a capacidade do Estado explica as diferenças no desenvolvimento econômico: o efeito sobre as firmas. Seguindo a literatura de persistência histórica nos analisamos o efeito da capacidade jurídica histórica, uma dimensão crucial da capacidade do Estado, sobre o tamanho e a estrutura das firmas ao longo do tempo. Esta relação é estudada para o caso peruano. Usamos dados dum censo histórico da administração do Estado realizado em 1793 para analisar o efeito persistente da capacidade legal e, especificamente, dos tribunais coloniais, sobre os indicadores de desenvolvimento das firmas históricas e atuais. Mostramos evidências dum efeito positivo persistente e significativo da capacidade jurídica histórica sobre várias dimensões do desenvolvimento (tamanho e produtividade) e estrutura das firmas (grau de integração do mercado). Além disso, coletamos informações sobre raça e alfabetização de um censo populacional nacional realizado em 1876 e informações sobre a distribuição inicial de empresas do registro de impostos em 1910. Nossas evidências são robustas a essas variáveis importantes destacadas na literatura, como capital humano, distribuição inicial de empresas e heterogeneidade racial. A presença dos tribunais coloniais parece ser a dimensão mais importante da capacidade jurídica. Em terceiro lugar, analisamos o efeito do colonial sobre a atual presença de capacidade legal como um potencial canal de persistência. Observamos que ter capacidade legal no passado afetou o custo relativo de investimentos subsequentes na capacidade do Estado durante o período republicano. Finalmente, temos evidências preliminares sobre a evolução diferente das normas formais e informais. Municípios com capacidade legal colonial afrouxaram os atritos financeiros e exigiram menos crédito informal. Ao mesmo tempo, não há diferenças significativas nas condições para obter uma licença em funcionamento, uma característica relacionada à capacidade geral do Estado.
In this paper, we focus on one channel through which state capacity explains differences in economic development: it s effect over firms. We rely on the literature of historical persistence to analyze the effect of historical legal capacity, a crucial dimension of state capacity, over the size and structure of firms through time. This relationship is studied for the Peruvian case. We use rich data from a historical census of the state administration carried in 1793 to analyze the persistent effect of legal capacity, and specifically from colonial courts, over historical and current firms development indicators. We show evidence of a persistent and significant positive effect of historical legal capacity over several dimensions of firms development (size and productivity) and structure (degree of market integration). Also, we collect information on race and literacy from a national population census held in 1876, and information on the initial distribution of firms from the registry of taxes in 1910s. Our evidence is robust to these important variables highlighted in the literature like human capital, initial distribution of firms, and racial heterogeneity. The presence of colonial courts appears to be the most important dimension of legal capacity. Third, we analyze the effect of colonial over the current presence of legal capacity as a potential channel of persistence. We observe that having legal capacity in the past affected the relative cost of subsequent investments in state capacity during the republic period. Finally, we have preliminary evidence on the different evolution of formal and informal norms. Municipalities with colonial legal capacity have loosened financial frictions and demand less informal credit. At the same time, there are no significant differences in the conditions to obtain a functioning license, a feature related to broad state capacity.
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Stallkamp, Philip Robert. "The impact of firm size and industry on capital structure decisions." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/16796.
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Includes bibliographical referencesThis paper investigates the impact of firm size and industry on the capital structure of listed South African firms. It uses data obtained from firms listed on the Johannesburg Stock Exchange and tests trade-off theory and pecking order theory for firms of various sizes, firms in different industries and also tests for differences between debt maturities. Multiple fixed effect models are used to firstly test for the main factors that impact capital structure and secondly to test which sources of capital are preferred to finance a change in assets. The analysis shows that firms of different sizes and firms that operate in different industries choose their capital structure in various ways. Larger firms are more highly geared debt more than small firms and smaller firms prefer to use internally generated funds. The two main capital structure theories, trade-off and pecking order, do not explain the difference in behaviour adequately. The paper also finds that similar factors impact both long-term and short-term debt.
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Yu, Li. "Three essays on technology adoption, firm size, wages and human capital." [Ames, Iowa : Iowa State University], 2008.
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Ruett, Benjamin. "Location and rank-size distribution of Arts and Entertainment : A study of US Metropolitan Regions." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-14826.
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This thesis describes and analyzes the location and size distribution of artand entertainment establishments and metropolitan regions in the UnitedStates. The included sectors are sound recording, motion picture and video,book and newspaper publishing as well as the live performing arts. Their sizeis analyzed by total employment and brought in context to their respectivemarkets and the rank-size rule. The results are interpreted within the economictraits specific to the art and entertainment industry.The results show that most analyzed sectors are over proportionally concentratedin one location, making it the center for these activities. In addition, thesize distribution in all sectors except sound recording follows Zipfs law to agreat extend. Explanations for this can be found in lock-in mechanisms overtime and classic agglomeration advantages.
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Alsakran, Abdullah. "Non oil exports finance and economic development in Saudi Arabia." Thesis, Brunel University, 2014. http://bura.brunel.ac.uk/handle/2438/9491.
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Oil is an important part of the Saudi economy. With the volatility of oil prices and the pressing needs of economic growth and development, the Saudi Arabian government has planned to diversify its sources of income. To this end, the majority of effort has focused on developing the non-oil export sectors, particularly in manufacturing. Despite government efforts to enhance the ratio of non-oil export to total exports, it remains weak, amounting to 15 per cent of total exports in 2010 (which compares unfavourably with the average for other Middle East and North Africa countries (MENA) which stood between 30-46 per cent in 2010). This research aims to provide a comprehensive assessment of non-oil exports and their financing in Saudi Arabia. This study uses unique, primary data, collected through a custom designed questionnaire and a unique sample of Saudi exports. There is currently no comparable database for Saudi firms, or for other MENA countries trying to engage in export diversification strategies. This dissertation comprises three main empirical parts which are; ownership structure and operations, finance, and business climate, respectively (chapters 3, 4 and 5). In the first, the econometric analysis shows multiple factors have a significant positive impact on export intensity, including: whether the firm is shareholding, the age of the firm, internationally and locally recognised quality certificate, length of export experience, supplies of domestic origin, independent retail stores, TV or radio advertising, a foreign language website and finally an export marketing plan. Regarding the impact of financial factors on exports at firm level, the econometric analysis showed that younger firms are more likely to be credit-constrained than older firms. Finally, this dissertation provides evidence of the relationship between the business environment, competition and firm’s exports. The main findings show that firm performance, measured as intensity of exports, is boosted by an increase in experience of export and hindered by a high level of labour, competition, custom and trade regulation, and the informal sector.
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Choi, Jae Sung. "Size Effect in the Cryptocurrency Market." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1927.
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This paper shows the existence of the size effect in the cryptocurrency market. The size effect is a market phenomenon observed in the stock market in which smaller assets outperform larger assets. Recent literature has revealed the size effect in other financial markets as well. In order to explain the size effect, this paper proposes a general quantitative theory that supports its existence in any financial markets under specific conditions. Furthermore, the paper tests for the size effect in the cryptocurrency market using daily price data from April 2013 to April 2018. The paper finds a statistically significant size effect across the cryptocurrency market during the sample period. In the process, we test a profitable pair-trading strategy that involves opening a short position on the higher rank (larger assets) and opening a long position on the lower rank (smaller assets) of the cryptocurrency market. Based on our findings, we discuss the implications on modern finance, specifically on the subjects of Efficient Market Hypothesis and asset pricing models.
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Braunerhjelm, Pontus. "Knowledge capital and the "new economy" : firm size, performance and network production /." Boston, Mass. [u.a.] : Kluwer Academic Publ, 2000. http://www.loc.gov/catdir/enhancements/fy0818/00023126-d.html.
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Ng, Choi-hei, and 吳財喜. "Change of firm size in Hong Kong and its relation to productivity." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1991. http://hub.hku.hk/bib/B31977108.
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Brown, Ashley L. "The Effects of Firm Size and Corporate Social Responsibility on Organizational Attraction." Xavier University / OhioLINK, 2014. http://rave.ohiolink.edu/etdc/view?acc_num=xavier1410450556.
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Hawkins, Craig Vernon. "Assessing CPM scheduling software for the small to mid-size construction firm." College Park, Md.: University of Maryland, 2007. http://hdl.handle.net/1903/7786.
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Thesis (M.S.) -- University of Maryland, College Park, 2007.Thesis research directed by: Dept. of Civil and Environmental Engineering. Title from t.p. of PDF. Includes bibliographical references. Published by UMI Dissertation Services, Ann Arbor, Mich. Also available in paper.
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Ng, Choi-hei. "Change of firm size in Hong Kong and its relation to productivity." [Hong Kong : University of Hong Kong], 1991. http://sunzi.lib.hku.hk/hkuto/record.jsp?B13282888.
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Nega, Fraser T. "The Relationship Between Financial Performance, Firm Size, Leverage and Corporate Social Responsibility." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4661.
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Approximately $25.2 trillion in total assets under management in the United States is involved in some strategy of socially responsible and sustainable investing. Grounded in the stakeholder theory, the purpose of this correlational study was to examine the relationships between financial performance, firm size, leverage, and corporate social responsibility. A random sample included 119 large companies located in the United States from the population of companies listed in the Russell 100 index. The data were collected via Bloomberg Terminal. Multiple linear regression analysis was used to predict Environmental, Social, and Governance (ESG) activity scores. The 3 predictor variables accounted for approximately 7% of the variance in ESG activity scores and the result was statistically significant, F(3,115) = 2.83, p < .04, R2 = .07. Although the p value was significant, the R2 was low representing a poor model fit. In the final analysis, total revenue was added to the model and was a significant predictor and negatively correlated with ESG activity scores; However, return on equity and leverage were not significant predictors of ESG activity scores suggesting the potential need to transfer some corporate social initiatives from business leaders to government policy makers. Future researchers should consider incorporating additional variables to make the model more useful. The implications for positive social change include the potential to identify fiscal incentives for corporate social programs by policy makers which benefit stakeholders such as employees, suppliers, customers, communities, and the environment.
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Hun, Manet. "What determines the firm size distribution and structural integration? A cross-county study." Thesis, University of Bristol, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.500421.
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Hsu, Yi-wen, and 許毅雯. "Firm Size and Innovation." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/66396847541377871454.
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Wu, Chun-Lin, and 巫俊霖. "Firm Size, Business Group, Innovation and Firm Performance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/21529374901587413776.
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碩士靜宜大學
國際企業學系研究所
98
Taiwan has encountered party alternations in power since year 2000, therefore resulting changes in economic strategy. However, enterprises haven’t changed their goals towards internationalization. Many of the past studies researched how performance of firms affected their international entry mode or measurement of performance. These studies were conducted to help enterprises having better strategies and development. This study was conducted for the enterprises performance in Taiwan as a reference. The research purpose of current study is to examine whether firm size, business group, and firm innovation can increase firms’ performance as independent variables. Return on Assets (ROA) was applied as performance data reference values in the study. The data of enterprises in iron industry, automotive, electronics, cement industry, and foodstuffs industry from 2001 to 2008 was used as the research samples. The enterprises were analyzed by the three independent variables to examine whether these has positive impacts on return on assets. Firm size was measured by total assets and net operation income, setting business group as virtual variable, R&D expenditures as innovation to analyze. This study is useful for enterprises in Taiwan. For enterprises, by the scale of the company, business group or not and innovation, we can know that if the results could be promoted or not. And we can tell if it’s good or bad for the company by the trading strategy and the condition of team up with other company, and also to decrease the crisis of deficit to the enterprise.
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"Innovator Sorting and Firm Size." Doctoral diss., 2016. http://hdl.handle.net/2286/R.I.38509.
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abstract: This paper examines the link between firm size and innovation. Given that innovation is highly reliant on human capital, the ability to attract, motivate, and retain high quality inventors is a key determinant of firm innovation. Firm size may affect these abilities, and small firms are known to account for a disproportionate share of aggregate innovation. I therefore investigate the role that sorting of inventors across firms plays in explaining this disparity. Talented inventors may find employment at a large firm less attractive due to the relative absence of growth options and a lower ability to link compensation to performance. Using inventor-level patent data, I construct employment histories for inventors at U.S. public firms. I find that the most productive inventors are disproportionately likely to move to small firms, while the least productive inventors disproportionately remain at large firms. These results cannot be explained fully by small firms' superior growth opportunities. In addition, productive innovators' turnover in small firms is sensitive to the level of option compensation. Taken together, this evidence is consistent with inventor sorting explaining part of the firm size innovation gap.Dissertation/Thesis
Doctoral Dissertation Business Administration 2016
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Chou, Yi-Hsin, and 周怡忻. "Firm Size and Spillover Effect." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/23286394002936232032.
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碩士銘傳大學
財務金融學系碩士在職專班
101
This paper uses spillover index to measure the spillover effect between the small-, medium-, and large-size firms in US stock market from January 1999 to January 2010. In contrast with previous study, we utilized a generalized vector autoregressive framework proposed by Diebold and Yilmaz (2012) in which forecast-error variance decompositions are invariant to the variable ordering. In addition, this paper includes the medium-size firms in our experiments to evaluate its importance in stock market. For the small-, medium-, and large-size firms, our empirical results support the inattention effect in stock market in that medium-size firm has the largest net spillover effects. Moreover, as for the large- and small-size firms, this study supports market-wide effects proposed by Francis et al. (2010). Specifically, the paper provides evidence that the large-size firms have a net spillover effect on small-size firms. By contrast, the small-size firms are more sensitive to market-wide information during the market downturns than other periods.
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Anjinho, Nicolas. "The theoretical determinants of firm size and the firm size-exporting relationship among developing nations." Thesis, 2011. http://hdl.handle.net/10539/9625.
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What factors determine the decision of a firm to participate in the export market? This paper
looks into the firm level determinants of both size and international trade. A more
comprehensive understanding of the forces behind the firm size-exporting relationship is
developed. The relationship between firm size and exporting is tested using a cross-country
dataset of developing countries to determine the extent of country specific influences on
international trade. These theoretical considerations and cross country tests indicate a
positive, significant relation between exporting and firm size. This relation is robust across all
countries tested and stands up to all the robustness checks examined in this paper. Regional or
country specific indicators affect the level of the relationship, but not its nature.
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Huynh, K. P., D. T. Jacho-Chavez, O. Kryvtsov, Oleksandr Shepotylo, and V. Vakhitov. "The evolution of firm-level distributions for Ukrainian manufacturing firms." 2015. http://hdl.handle.net/10454/10869.
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NoWe document rich variation across observed firms’ characteristics, and the accompanying macroeconomic volatility, often related to political turmoil for Ukrainian manufacturing firms. We use a unique annual firm-level data for the period from 2001 to 2009 compiled from the Derzhkomstat. To understand the evolution of distributions we utilize functional principal component analysis while accounting for the effects associated with firms’ region, industry, trade status, and firm turnover. The overall improvements in firm productivity in Ukraine’s manufacturing in 2001–2009 vary substantially by industry, trade status and with firm turnover, while regional effects are less important.
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Shen, Thin Shan, and 謝鑫祥. "Overreaction、Firm Size and Firm Risk in Taiwan Stock Market." Thesis, 1995. http://ndltd.ncl.edu.tw/handle/82025220281623375326.
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Plehn-Dujowich, Jose M. "Innovation, firm size, and occupational choice /." 2001. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pqdiss&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&rft_dat=xri:pqdiss:3006546.
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KUO, PEI-YIN, and 郭姵吟. "Firm Size, Core Competencies and Guanxi." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/83765272512381400064.
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碩士靜宜大學
國際企業學系
104
Companies are influenced by traditional Chinese culture and guanxi in Chinese market is one of the significant factors which influence everywhere. When Taiwanese enterprises invest in China, they face the uncertainty of environment and market that they may ask for help from external resources. In this study, we focus on the effects of firm size, core competencies, and the dependence of guanxi when enterprises develop in China. This research used case study and in-depth interviews with senior managers. We discussed the impact of the firm size, core competencies, and guanxi is lower when the firm size is larger, and the dependence of guanxi is higher when the core competencies are better.
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Augusto, Francisco Fernando Leal Marques. "Financing constraints and the firm size distribution : are young firms constrained?" Master's thesis, 2013. http://hdl.handle.net/10400.14/15820.
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This work evaluates the existence of financial constraints over young firms for the period 2002-2007. Starting by evaluating the shape and evolution of the FSD across this period, the expected impact over the distribution is observed. To confirm if the observed patterns are effectively financing constraints over young firms, the approach conducted by Cabral & Mata (2003) is replicated for the same period of data. This procedure delivers successful results: financing constraints limit the size of the firm at an initial stage of firms’ life. Furthermore, this conclusion is weighted over the possibility of different kind of factors driving financial constraints: a simple exercise comparing the hypothetical access to financial markets by young firms is conducted, leading to the conclusion that the financing constraints acting over firms for the period 2002-2007 are due to idiosyncratic characteristics of the firms.
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Lu, Shih-Tzu, and 盧適之. "Board Size, Board Constitution, and Firm Value." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/59887631552652903440.
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碩士淡江大學
管理科學學系企業經營碩士在職專班
104
This study explores whether various variables in term of director board including board size, insider dirctors, independent directors, and foreign directors would affect firm value. We use Taiwan data as our sample due to the developed counties widely explored in the relevant studies; in addition, the chareteristics of TWSE-listing firms are that almost half of listing firms are electronic firms as well as most of SMEs are family-controlled firms, which are far different from the constitution of listing firms for developed contries. The results reveal that independent dirctors would not only enhance corporate governance but also raise profits for enterprises; however, higher board size and shareholding controlled by insiders might not enhance firm value. The results imply that recruiting independent director as suggested by developed contries would matter for enterprises in Taiwan.
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Lai, Ming-Yan, and 賴明彥. "Firm size, Technological Capacity and Economic Performance." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/60503817725839874212.
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碩士銘傳大學
經濟學研究所
91
Firm size, Technological Capacity and Economic Performance Graduate: Ming-Yan Lai Advisor: Dr. Weng-Chun Liu Dr. Yao -Nan Hsu Abstract Taiwan has always been known for its economic system, when consists of a number of small and medium enterprises (SMEs). In this system, SMEs have constantly played a crucial role in terms of number, production value, employment, or generating foreign exchange. In spite of the fact that scholars in the past never reached at any conclusion in agreement on how SMEs are related to Taiwan’s economic development, doubtlessly SMEs indeed served as a vital department towards the production and trade in Taiwan, thus directly or indirectly bring about Taiwan’s so-called “economic miracle”. In this paper, we use the data of 23 counties in Taiwan from 1994 to 2000 to test the variability of firm’s size when the transaction efficiency change, and base on the variables of firm’s size, transaction efficiency, and technological capacity to investigate the affect of economic performance. The empirical results in this paper indicate that the transaction efficiency indeed has a significantly positive impact on firm’s size, and by adjust the firm’s size to affect the economic performance. The firm’s size has negative effect to the average of household income. In the other hand, small firm’s size is more advantageous to economic performance. Finally, we find that improve the standard of transaction and input the technological capacity appropriately is more benefit (or profitable) to the whole economy. Keyword: firm size；technological capacity；transaction efficiency； economic performance.
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Ravikumar, P. "Effects Of Firm Size And Trading Mechanisms On Liquidity : An Empirical Analysis." Thesis, 1999. https://etd.iisc.ac.in/handle/2005/1952.
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