Capital misallocation is a main obstacle to China's economic development. This paper deploys a quasi-natural experiment formed by the 'Revitalization Plan for Ten Industries' (RPTI) and examines the ...impacts that selective industrial policies have on capital misallocation. It is found that the RPTI significantly exacerbates capital misallocation and that the effect does not disappear when the RPTI ends. Mechanism analysis indicates that the RPTI significantly increases the capital productivity of firm groups with high capital productivity but significantly reduces the capital productivity of firm groups with low capital productivity. This can be further interpreted by a decrease or an increase of inefficient investment and financial constraints faced by the corresponding firm groups. The documented relationship is stronger in state-owned enterprises and in firms located in areas of high marketization. Our findings advance the understanding of governmental policy intervention in developing countries.
The relationship between regional institutional quality and firms' productivity in the period 2010-14 is investigated by regressing a measure of total factor productivity for European manufacturing ...small and medium-sized enterprises on a regional level index of institutional quality and its components, the rule of law and government effectiveness. Strong evidence is found that better local institutions help small and medium-sized enterprises become more productive. In addition, the impact of institutions interplays with some firm characteristics, such as firms' size, age, human capital and productivity level, as well as firms' operating sector. These findings have important implications for the definition of suitable strategies to foster economic growth in the European regions.
As challenges to the era of globalisation emerge, international business grows in importance and complexity as a field of study. This shortform textbook introduces learners to the frameworks within ...which international business occurs and to the range of actions that companies might undertake in these environments.
Owing to an emphasis on cross-border interactions, international business is a politicised field, and this book provides readers with the tools to deepen their understanding not only of the actions that companies might take but also of the economic, societal, cultural and political frameworks affecting how decisions are made.
With a refreshing realism in its approach, this book will be perfect brief reading for students required to understand the obstacles that global business practitioners must overcome to succeed.
Previous research has established the benefits of branding for business-to-business (B2B) organizations. Various tools can be used to support B2B brands, including the internet and other interactive ...technologies. Yet research on how organizations use Social Networking Sites (SNS) to achieve brand objectives remains limited. This study addresses the gap by focusing on B2B SMEs and their social networking practices, particularly, usage, perceived barriers, and the measurement of effectiveness of SNS as a marketing tool. Findings from a mail survey show that over a quarter of B2B SMEs in the UK are currently using SNS to achieve brand objectives, the most popular of which is to attract new customers. On the other hand, the most significant barrier is the lack of perceived relevance for particular sectors. Notably, the overwhelming majority of users do not adopt any metrics to assess SNS effectiveness. Almost half of the sample of SMEs that currently use SNS have indicated their intention to increase their marketing spending on this channel, highlighting the growing importance of SNS in a B2B context.
► We examine the social networking practices by B2B SMEs. ► B2B SMEs in the UK use SNS to attract new customers. ► Most B2B SEMs using SNS intend to increase marketing spending on SNS. ► B2B SME's not using SNS due to the lack of perceived relevance of SNS for particular industry sectors.
Purpose Industry 4.0 is expected to significantly transform industrial value creation. However, research on business models affected through Industry 4.0, and on small- and medium-sized enterprises ...(SMEs), remains scarce. In response, the purpose of this paper is to address both aspects, further elaborating on the role that SMEs can take toward Industry 4.0 as provider or user. Design/methodology/approach The paper used an exploratory research design based on 43 in-depth expert interviews within the three most important German industry sectors, mechanical and plant engineering, electrical engineering and automotive suppliers. Interviews were conducted with leading personnel of the respective enterprises, including 22 CEOs. They assign business model implications through Industry 4.0, referring to the Business Model Canvas, while the paper delineates between Industry 4.0 providers and users. Findings The paper finds that key resources and value proposition are among the most affected elements of the business model, whereas channels are the least affected. Furthermore, distinct characteristics between Industry 4.0 providers and users can be delineated. In general, Industry 4.0 providers’ business models are significantly more affected than users, except for key partners and customer relationships. Research limitations/implications Industry 4.0 remains at its early stages of implementation. As a result, many interviewees’ answers remain at a rather general level. Practical implications Strategies for the further alignment of the business models are provided for Industry 4.0 providers and users. Originality/value The paper is among the few that investigate Industry 4.0 in the context of SMEs and business models.
Sustainable Growth in Global Markets provides a comprehensive introduction to the concept of market and business management outside the domestic market. The book focuses upon the ability to do ...business in international markets, examining the significance of leadership, building consumer value through innovation and organizational change.
Written by a practicing business attorney with startup experience in the environmental and technology sectors, this comprehensive handbook assists entrepreneurs in tackling the wide variety of ...opportunities to go green. A one-stop resource for entrepreneurs, it helps readers incorporate clean technology, environmental practices, and green business approaches into the work environment. The book discusses how to sell to utilities, explores fundraising outlets for green businesses, covers government incentives, presents key startup tools aimed at green businesses, and addresses challenges of many new businesses, such as raising money and making sales. Additional resources are available on the book's website.
The market power represents market competitiveness and investment development opportunities for the enterprise. Carbon emissions trading scheme (ETS) increases the internal operation costs of ...enterprises, and changes the external development environment, so as to affect the market power of high-carbon enterprises. With this in mind, using the panel data of A-share listed high-carbon enterprises in China during 2009–2019, this paper applies the difference-in-differences method and mediating effect model to estimate the impact of China's ETS on the market power of high-carbon enterprises. We can find that: first, the implementation of China's ETS until 2019 has generally led to a 26.99% decline in the market power of high-carbon enterprises. Second, China's ETS has a negative impact on the market power of relevant enterprises mainly through reducing the level of horizontal integration but not vertical integration. Third, it has a significant negative impact on the market power of relevant enterprises in the petrochemical and chemical industries, but not in other six industries concerned. Meanwhile, its negative impact on the market power of state-owned enterprises, and high financing constraints and large-scale enterprises is relatively significant, and the impact on the reduction of market power level of high-carbon enterprises in regions with high carbon prices and high transaction scales is relatively obvious.
•The DID method is used to evaluate the effect of China's ETS.•Mediating effect model is used to test the impact mechanism.•China's ETS has reduced the market power of high-carbon enterprises.•Horizontal integration plays a mediating role in the impact on the market power.•The impact varies with different industries, enterprises and carbon markets.
Picking up on the manifestation of state intervention following the 2008 financial crisis, we argue that the recent trend towards remunicipalisation underlines but also problematises the thesis of ...new state capitalism. Remunicipalisation refers to a process whereby towns, cities and sub-national regions take previously privatised services and infrastructures back into public ownership. Remunicipalisation has led to the emergence of regionally- and municipally-owned state enterprises across a wide range of sectors including water, energy, waste, transport, education, (tele)communications, and health and social care. Engaging with the nature of the ‘new’ state capitalism, and particularly challenging its theoretically restrictive understanding of the state as ‘market enabler’, we highlight that remunicipalisations have often emerged in response to the failed promise of neoliberal capitalism to improve the quality and efficiency of public services through the (supposed) competitiveness of the free market. Like neoliberalism, remunicipalisations take spatially diverse and variegated forms as market-driven logics interact with other political and economic determinations. As such, remunicipalisations often encompass critiques of neoliberal governance and market volatility, and instead focus on the potential of regional wealth creation as well as stabilising local market dynamics through diversifying ownership forms. Drawing upon our ongoing empirical work on German remunicipalisation, we aim to foreground how multiple determinations at work in the German political economy at different spatial scales shape its particular trajectory out of neoliberal mutation. We show how the remunicipalisation of energy provider TEAG has enabled the local state to intervene and diversify the uneven economic geographies in the state of Thuringia.
This volume examines the history of enterprise and entrepreneurial communities from the beginning of the eighteenth to mid nineteenth century. Roy examines how enterprise and entrepreneurial ...communities adapted to globalization and colonial law. He analyses forms of merchant organization in pre-colonial and colonial India; impact of commercialism on artisans collectives; linkages between institutional change and peasant lineage; interplay between new work opportunities, managerial paradigms, and organized labour supply ; relationship between state, economic order, and business organizations.
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