Search results for "ACCOUNTING"

Moral Governance: Politicians, Ownership, and Control

2009

We investigate upon the influences exerted by politicians on the Board and on ownership structure, as an application of political power to corporations. We characterize moral governance as the joint result of these efforts on managerial turnover and ownership turnover. We comment upon two Italian clinical cases of private, listed firms in which politicians enter the scene when a major event occurs (i.e., reorganization, merger, and acquisition activity). Our model could serve as a guideline and checklist for insiders to interact with politicians. We suggest this could be of interest in countries where there is a common level ground – such as in Europe – but with different cultures on the ro…

Environmental accounting as a tool for SMEs in environmentally induced economic risk analysis

2000

The curvilinear effect of manufacturing outsourcing and captive-offshoring on firms' innovation: The role of temporal endurance

2019

Abstract This paper aims to contribute to the open debate in the literature on the effect of global sourcing strategies on firm performance by studying the consequences of manufacturing outsourcing and captive-offshoring for the innovation capability of the firm. We grounded our hypotheses based on the outsourcing and offshoring literature and by narrowing our focus to the effects of persisting in their adoption over time. We tested our hypotheses using data from a sample of 368 manufacturing companies listed on NASDAQ stock market. The paper provides theoretical explanations and empirical findings for the inverted U-shaped influence of keeping doing captive-offshoring on new product develo…

Unbundling technology adoption and tfp at the firm level. Do intangibles matter?

2012

We use a panel of European firms to investigate the relationship between intangible assets and productivity. We distinguish between total factor productivity (tfp) and technology adoption, whereas standard estimations consider only a notion of productivity that conflates the two effects. Although we are unable to address simultaneity, we allow for the existence of multiple technologies within sectors through a mixture model approach. We find that intangible assets have nonnegligible effects that both push firms toward better technologies (technology adoption effects) and allow for more efficient exploitation of a given technology (tfp effects).

Cooperation among competitors: A comparison of cost-sharing mechanisms

2016

Abstract In this paper, we investigate the consequences of using outcome-based versus ex ante-based cost-sharing mechanisms in terms of competing firms' profitability and total welfare. We consider two firms making a joint expenditure, which can positively affect firms' demand and/or unit operating costs, while competing in the final market by setting either price or quantity. We compare two outcome-based cost-sharing mechanisms, i.e., Quantity Proportional (QP) and Total Margin proportional (TM), with the more competitive Fixed Share (FS) mechanism where cost-sharing is set up on an ex ante basis. We show that outcome-based mechanisms, and even a fully collusive behavior induced by the opt…

Attuned HRM Systems for Social Enterprises

2021

This paper is motivated by a puzzling observation made when conducting a case study of ProCredit (PC), a well-known social bank. The HR practices that this social enterprise (SE) adopted to cultivate mission identification were unfavorably impacting its retention rate. Building on prior research and our analysis of the case, we argue the need for SEs to embrace HRM systems that are both mission-identification proactive and employee-retention preemptive. It theorizes that these HRM systems should be attuned to the labor market conditions (e.g., market segmentation and competition for employees) that frame how SEs develop and sustain Person-Organization (P-O) fit. Attuned HRM systems are adap…

Do Multinationals Deteriorate Developing Countries' Export Prices? The Impact of FDI on Net Barter Terms of Trade

2015

This paper explores the economic relationship between foreign direct investment (FDI) to developing countries and the export prices of the latter, measured by terms of trade. It is rst shown that economic theory suggests such a relationship for various reasons but is inconclusive about the direction of the eect. To address this open issue empirically, I analyze data on more than 50 developing countries throughout the period 1980 - 2008 using robust dynamic panel data methods. The results show that FDI had an economically relevant and statistically signicant positive impact on developing countries’ net barter terms of trade. A higher level of education in the developing country fosters this …

The contribution of granular and fundamental comparative advantage to European Union countries' export specialisation

2020

This paper analyses the contribution of fundamental comparative advantage (a country‐specific component) and granular comparative advantage (a firm‐specific component) to European Union countries' export specialisation. We find that, on average, granular comparative advantage may explain export specialisation in 29% of industries, which account for 47% of total exports. We also show that 60% of the variation in export specialisation across countries and industries may be explained by granular comparative advantage. These results highlight that some outstanding firms may play a very important role in explaining European Union countries' export specialisation.

Foreign sourcing and exporting

2020

The aim in this paper is analysing the role of sourcing intermediate inputs internationally on export decisions, distinguishing whether intermediate are sourced from firms belonging to the same business group or from independent suppliers. To analyse firm’s export decision, we use a specification that also accounts for sunk costs and the accumulated experience in export markets (i.e., foreign markets learning). We consider that importing intermediates might have direct and indirect effects (operating through productivity) on the export participation decision. The direct effects on exporting are isolated once we control for productivity and the effects of belonging to an international group.…

EMU and trade: A PPML re‐assessment with intra‐national trade flows

2020

This paper examines the EMU effect on trade for the eleven early joiners and Greece relying for the first time on data that include both international and intra‐national trade flows, in line with all the microfoundations of the structural gravity model of trade. We find that the overall EMU impact on trade is positive between its members and, specially, for trade between members and non‐members. Interestingly, we further show that the effect of the EMU on bilateral trade remarkably differs across countries. For Ireland, Belgium–Luxembourg, Spain, Portugal and Austria, we find robust evidence that EMU has boosted trade both with other members and with third countries, while for Finland, Fran…