Search results for "050203 business & management"
showing 10 items of 2222 documents
Sustainable Growth Rate: An Analysis Regarding the Most Traded Companies on the Bucharest Stock Exchange
2018
The concept of sustainable growth rate was originally developed by Robert C. Higgins. In the case of companies with given stable financial policies, it is considered to be the link between growth-return rate combinations that gives a balanced growth line. This indicates the possibilities for a company to grow without generating deficits or cash surpluses. Increased sales require more assets, which can be financed by new debt, external equity, and internal equity through retained earnings. The sustainable growth rate is the maximum rate at which company sales can increase without decreasing its financial resources. The aim of this paper is to determine if the last year most traded companies …
Institutions and Innovation as Driving Forces Towards a Smart City and Sustainable Territorial Development
2018
The aim of the chapter is the analysis of innovation and institution as key-elements for reaching a higher social welfare and for improving environmental quality. To determine a social optimum or a Pareto improvement, we consider the interaction between institution and firm in the short and in the medium/long run. Using a static comparative analysis, the interaction of these two agents, institution and market, is examined. Within the market an entrant and an incumbent firm are present, and the entrant firm radically innovates. Even if in the short run results show that the market alone is able to realize a Pareto improvement, an institution action through an innovation adoption is a prefera…
Fostering Dynamic Growth in New Ventures through Venture Capital: Conceptualizing Venture Capital Capabilities
2017
There is ample evidence of the influence of venture capital on the creation and growth of new ventures, yet scant attention has been paid to the heterogeneity of venture capitalists and their capacity to contribute to the dynamic growth of new ventures. This paper aims to contribute to the existing literature by exploring the notion that venture capitalists have beneficial effects on the growth of new ventures when they rely on a set of distinctive skills and processes that we associate with venture capital capabilities. We bridge the venture capital and resource-based view research streams to identify the foundational mechanisms of venture capital capabilities. We develop a set of proposit…
Unveiling the Role of Multiple blockholders: Evidence from Closely Held Firms.
2019
Research Question/Issue. This paper disentangles how the modes of ownership distribution among multiple blockholders and their heterogeneity shape principal–principal conflicts and, in turn, affect firm performance. The paper offers empirical evidence from a panel of Italian closely held firms over the period 2009–2014. Research Findings/Insights. We explore the principal–principal conflicts among blockholders across two distinct control structures. When a single blockholder controls the firm, principal–principal conflicts are shaped by the trade‐off between the alignment effect and the monitoring effect. In this scenario, we find that the relationship between the two largest blockholders' …
Ownership and Operating Performance of Spanish Family IPO Firms
2020
Previous studies have shown the existence of a relationship between the ownership structure of a company and its operational performance. In this context, the empirical evidence reveals that after an initial public offering (IPO), companies experience a decline in their operational performance. In this research, the authors investigate whether the characteristics of Spanish family firms led to a different operating behavior with respect to non-family companies when they go public through an IPO. The results show that the particularities of the family firm do not turn into significant differences in operational performance after the listing process.
Does higher technical efficiency induce a higher service level? A paradox association in the context of port operations
2020
Abstract Researchers and practitioners are benchmarking technical efficiency of ports and exploring the drivers of high efficiency. Paradoxically, this study argues that high technical efficiency (TE = 1) is not always essential, but an optimal level needs to be achieved while balancing the port service level. This study applies data envelopment analysis (DEA) and free disposal hull (FDH) methods to perform efficiency rankings of 38 container terminals from 17 different ports in 12 Asian countries. Four terminals are technically efficient (TE = 1) in all frontier approaches, thereof one Bangladeshi, one Chinese, one Indian and one Vietnamese. Furthermore, this study presents a case study co…
Expert In-depth Interview on Development and Efficiency of “RIGA International Airport” Reflecting Factors
2016
Abstract The aim of the paper is to identify development ways and effectiveness of RIGA International Airport. Theoretical evidence was examined and expert in-depth interview was carried out to explore the main circumstances affecting RIGA International Airport functioning. Findings of the study show that there are positive tendencies in the field of airport efficiency and development, but improvement is needed primarily for coordinating visions and resources managed by both state and airport administration bodies.
Assessment of the Total Factor Productivity Change in the Spanish Ports: Hicks–Moorsteen Productivity Index Approach
2016
AbstractThe assessment of the productivity growth of ports is essential to improve their performance and competitiveness. Although there are several nonparametric methodologies to compute the productivity change, the Hicks–Moorsteen productivity index is the only multiplicatively completed index that can be computed without price data. For the first time, the total factor productivity (TFP) change of a sample of ports is evaluated. The analysis covers the 28 ports comprising the Spanish port system, using data over the period 2005–2012. The drivers of TFP—technical change, technical efficiency, mix efficiency, and residual scale efficiency—are also investigated. The results indicate that fr…
Perdre ou renoncer aux étoiles : analyse des discours médiatiques et paroles de chefs à l’ère de la transparence
2020
Dans le cadre de cette contribution, la perte ou le renoncement aux etoiles du Guide Michelin de 19 chefs sont etudies a partir d’un corpus mediatique issu de la presse nationale ou de la presse regionale entre 1996 et 2019. L’analyse des discours tend a souligner les tensions qui traversent la restauration gastronomique et interroge egalement les modalites d’evaluation et de communication. Ce travail permet plus largement d’interroger la place et la nature de la critique gastronomique dans une ere de la transparence.
Études scientifiques et marché du travail : éléments de réflexion sur la crise des formations en sciences
2007
Student disaffection towards sciences, most evident in pure science undergraduates, is causing increasing concern for the future of scientific training in France. If access to employment deteriorates more for science graduates than for graduates in other disciplines, science graduates will have a distinct advantage in terms of earnings and employment status, when the economic situation becomes less favourable. Within sciences, graduates of pure sciences have a more difficult transition from education to employment than those from applied sciences. Yet graduates from both disciplines compete for the same job in the private sector with pure science graduates receiving lower wages. The “crisis…