Search results for "jel:D2"
showing 10 items of 20 documents
NASH EQUILIBRIA IN A MODEL OF MULTIPRODUCT PRICE COMPETITION: AN ASSIGNMENT PROBLEM
2003
We study the market interaction of a finite number of single-product firms and a representative buyer, where the buyer consumes bundles of these goods. The buyers' value function determines their willingness to pay for subsets of goods. We show that subgame perfect Nash-equilibrium outcomes are solutions of the linear relaxation of an integer programming assignment problem and that they always exits. The (subgame perfect) Nash-equilibrium price set is characterized by the Pareto frontier of the associated dual problem's projection on the firms' price vectors. We identify the Nash-equilibrium prices for monotonic buyers' value functions and, more importantly, we show that some central soluti…
Multinationals, R&D and productivity: Evidence for UK Manufacturing firms
2010
In this study, we analyze multinationality (domestic-based firms versus multinationals) and foreignness (foreign versus domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently estimate firm's productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them. C…
- SHADOW PRICES AND DISTANCE FUNCTIONS: AN ANALYSIS FOR FIRMS OF THE SPANISH CERAMIC PAVEMENTS INDUSTRY.
1999
This paper deals with the calculation of shadow prices for two industrial wastes generated on their production processes by a sample of eighteen firms belonging to the Spanish ceramic pavements industry. These prices are used to construct a corrected index of productivity which allows for considering wastes going with the production of marketable goods. It is followed the ethodologicalapproach first proposed by Färe, Grosskopf, Lovell y Yaisawarng (1993), which establishes a duality between distance and revenue functions. The shadow prices obtained for watery muds and used oils allow to measure in terms of a loss of marketable output the cost of achieving a marginal reduction in the product…
Mesure de la performance des agences bancaires par une approche DEA
2005
Using a DEA framework (Data Envelopment Analysis), we develop new performance indicators for integrated retail networks. A methodological discussion leads us to propose a productivity indicator which respects the criteria of controllability and transversal coherence. We then formalise the relationship between a performance indicator of a network's headquarters and the productivity of its various retailers. Finally, we combine these new indicators in crafting a management tool amenable to a system of balanced scorecards.
Micro evidence for sources of innovation in European countries
2012
This paper investigates sources of product or process innovation, such as investments in research and development, machinery, personnel training and management systems, by examining microdata from eight European countries. We pay particular attention to the effect of research and development in favouring the absorption of new technologies, i.e. the absorptive capacity. Significant positive effects of each source on both product and process innovations are found. Significant evidence of positive absorptive capacity emerges only in firms with low predicted probabilities of introducing innovation.
How Do Judgmental Overconfidence and Overoptimism Shape Innovative Activity?
2021
Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that different forms of overconfidence may have opposing effects on innovative activity. While overoptimism is positively associated with innovation, judgmental overconfidence is negatively linked to innovation. Our results indicate that future research is well advised to take into account that the relationship between innovation and overconfidence may crucially depend on what type of overconfidence is most…
A microeconometric analysis of the springboard subsidiary: The case of Spanish firms
2015
Abstract This paper provides a microeconometric analysis of the distinctive characteristics of springboard subsidiaries that have a positive impact on the subsidiaries’ performance. Based on panel data estimations for subsidiaries of European multinational companies with a presence in Spain, the authors found that if the subsidiary is located in the springboard country, then the performance improvement (increase in profit margin) of the subsidiary is about 49 percentage points. When the Spanish subsidiary is considered a springboard subsidiary, its performance is 7.7 percentage points higher than the performance of other subsidiaries that are not springboard subsidiaries. If the subsidiary …
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).
Offshoring along the production chain
2009
Recent contributions on offshoring often assume that firms can freely split their production process into separate steps which can be ranked according to the cost savings from producing abroad. We replace this assumption by the notion of a technologically determined sequence of production steps. In our model, cost savings from offshoring fluctuate along the production chain, and moving unfinished goods across borders causes transport costs. We show that, in such a setting, firms may refrain from offshoring even if relocating individual steps would be advantageous in terms of offshoring costs, or they may offshore (almost) the entire production chain to save transport costs. Small variations…
Monitoring and Market Power in Loan Markets
2000
Whether or not banks are engaged in ex ante monitoring of customers may have important consequences for the whole economy. We approach this question via a model in which banks can invest in either information acquisition or market power (product differentiation). The two alternatives generate different predictions, which are tested using panel data on Finnish local banks. We find evidence that banks’ investments in branch networks and human capital (personnel) contribute to information acquisition but not to market power. We also find that managing customers’ money transactions enhances banks ability to control their lending risks.