Search results for "firm-level."
showing 5 items of 5 documents
The adoption of green energy technologies: The role of policies in Austria, Germany, and Switzerland
2017
We contribute to the existing research about policy-induced technology adoption in several ways. First, we suggest a new survey design to measure the energy-related policy environment. Second, we simultaneously estimate the policy effects for the adoption propensity and the adoption intensity simultaneously and, third, we compare the policy effects in the three countries, Austria, Germany, and Switzerland. Based on a representative sample of firms for all three countries we find that policies essentially promote the adoption of technologies and they are practically ineffective for the intensity, which poses a great challenge to future policy designs. Voluntary agreements or demand-related f…
Agglomeration Externalities and the Productivity of Italian Firms
2015
Despite the richness of contributions on the effects of agglomeration on economic activity, the empirical evidence still falls short, especially at the microeconomic level, where they should matter the most. This paper adds to this literature by performing an empirical exploration of the role of Marshallian, Jacobian, and Porterian externalities for the productivity of Italian firms. In particular, a large dataset of small and medium enterprises is first employed to estimate firm-level total factor productivity (TFP). Then dynamic panel and instrumental variables estimation methods are used to assess the effects of agglomeration externalities. The findings seem to suggest that these effects…
A dynamic simulation approach to frame drivers and implications of corruption practices on firm performance
2014
Corruption is a multifaceted socio-economic phenomenon widely spread - although with different intensity - all around the world. Many studies on corruption have been conducted at a country-level, but relatively little effort has been placed in evaluating its implications, in terms of both financial and competitive performance, at a firm-level. Therefore, this paper aims at exploring the causal relationships underlying the effect of corruption on firm performance in order to show the different scenarios that may emerge from the combination between external (i.e., contextual conditions) and internal (i.e., organizational characteristics) forces that drive corruption. To this end, we adopt a D…
Growing Like Germany: Local Public Debt, Local Banks, Low Private Investment
2021
The paper uses a panel of more than 1m German firms over 2010-2016, to provide the first firm-bank level evidence of local crowding out for a developed economy characterized by low interest rates and fiscal austerity. Our mechanism relies on two structural features of Germany's banking landscape: the local segmentation of credit markets for small and medium-sized firms (SME) and the role of local public banks in local public finance. Local public banks dominate lending to small and medium firms in Germany and also have an explicit mandate to lend to the local public sector. With spreads on local government debt at all-time lows, local public banks tried to break even, using their market pow…