| 1. |
- Ankarhem, Mattias, et al.
(författare)
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Do Regional Investment Grants Improve Firm Performance? : Evidence from Sweden
- 2010
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Ingår i: Technology and Investment. - Irvine, USA : Scientific Research Publishing. - 2150-4059. ; 1:3, s. 221-227
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Tidskriftsartikel (refereegranskat)abstract
- The effect of Swedish regional investment grants during 1990-1999 on firm performance, in terms of returns on equity and number of employees, were studied using a propensity-score matching-method to control for sample selection. Firms that received grants did not perform better in terms of returns on equity when compared to matched firms in the control group. In most years, recipient firms also did not hire more employees. The results thus cast doubt on the use of regional investment grants as a general policy instrument to improve firm performance.
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| 2. |
- Aronsson, Tomas, et al.
(författare)
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Estimating Intrahousehold Allocation in a Collective Model with Houasehold Production
- 2001
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Ingår i: Journal of Population Economics. - : Springer Science and Business Media LLC. - 0933-1433 .- 1432-1475. ; 14:4, s. 569-584
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of this paper is to estimate the intra-family distribution of income and the individual demand for leisure and household production from Swedish cross-sectional household data. As a basis for the analysis, we use a collective model where each individual is characterized by his or her own utility function and divides total time between leisure, household production and market work. For the purpose of comparison, we also estimate a version that is consistent with a more traditional model of labor supply, the unitary model.
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| 3. |
- Berggren, Niclas, et al.
(författare)
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Does social trust speed up reforms? : The case of central-bank independence
- 2016
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Ingår i: Journal of Institutional Economics. - : Cambridge University Press. - 1744-1374 .- 1744-1382. ; 12:2, s. 395-415
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Tidskriftsartikel (refereegranskat)abstract
- Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set of potential determinants, both economic and political, but put special focus on a cultural factor, i.e. social trust. We find empirical support for an inverse u-shape: Countries with low and high social trust implemented their reforms earlier than countries with intermediate levels. We make use of two factors to explain this pattern: the need to undertake reform (which is more urgent in countries with low social trust) and the ability to undertake reform (which is greater in countries with high social trust). Overall, our findings imply that culture matters for institutional change.
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| 4. |
- Bjuggren, Carl Magnus, 1979-, et al.
(författare)
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Ownership and high-growth firms
- 2010
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Empirical studies demonstrate that most net job-growth originates from a small number of high-growth firms (HGFs). The purpose of this paper is to analyze whether firm ownership – family, or private non-family – matters for being a HGF, using data covering all firms in Sweden during 1993-2006. Firm growth is measured in terms of absolute employment growth, relative employment growth and as a combination of absolute and relative employment growth (the so-called Birch-index). We find that family ownership decreases the probability of exhibiting high growth. Changing ownership from family to private non family increases the probability of being a HGF, whereas a change from private non-family to family ownership decreases the probability of being a HGF. The results are robust, irrespective of measurement of firm growth, suggesting that ownership and changes in ownership are important determinants of rapid firm growth.
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| 5. |
- Bornhäll, Anders, 1984-, et al.
(författare)
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Employment Protection Legislation and Firm Growth : Evidence from a Natural Experiment
- 2014
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- A natural experiment is used to identify the causal relationship between employment protection legislation and fi…rm growth. The natural experiment occurred in Sweden in 2001, when an exemption made it possible for fi…rms with less than eleven employees to exclude two workers from the last-in-fi…rst-out principle when dismissing personnel. The estimated average treatment effect of the reform show that the number of employees increased with 0.135 percent in fi…rms with 5-9 employees relative to fi…rms with 10-15 employees, which corresponds to over 5,000 additional jobs per year created by the reform. Firms with ten employees, just below the size threshold, became 3.4 percent less likely to increase their workforce to a level surpassing the threshold, indicating that the last-in-…first-out rule prevented these …firms from growing. Thus, employment protection legislation seems to act as a growth barrier for small fi…rms.
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| 6. |
- Bornhäll, Anders, 1984-, et al.
(författare)
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Employment protection legislation and firm growth : evidence from a natural experiment
- 2017
-
Ingår i: Industrial and Corporate Change. - : Oxford University Press. - 0960-6491 .- 1464-3650. ; 26:1, s. 169-185
-
Tidskriftsartikel (refereegranskat)abstract
- A Swedish reform in 2001 made it possible for firms with less than 11 employees to exclude two from the last-in-first-out principle in case of layoffs. The reform increased employment growth with over 4000 additional jobs per year among firms with five to nine employees. Firms with 10 employees became 3.4 percentage points less likely to increase their workforce, indicating that the introduced threshold kept them from growing. Thus, employment protection legislation seems to act as a growth barrier for small firms.
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| 7. |
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| 8. |
- Bornhäll, Anders, et al.
(författare)
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Osynliga jobbskapare : En tillväxtpotential för svensk detaljhandel?
- 2015
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Den stora merparten av alla detaljhandelsföretag karakteriseras av ingen eller en marginell tillväxt av antalet anställda. Dessa företag betraktas ofta som en homogen grupp bestående av företag med inga tillväxtambitioner och som näringspolitiken inte bör inriktas gentemot. I denna rapport visar vi dock att de företag som inte växer i själva verket är mycket heterogena. Mer än tio procent av alla detaljhandelsföretag som inte växer under en treårsperiod kännetecknas av en relativt hög lönsamhet. Dessa företag kallar vi för de sovande gasellerna eftersom tidigare studier har visat att hög lönsamhet är en viktig faktor för en långsiktigt hållbar framtida tillväxt av antalet anställda. Andelen sovande gaseller inom detaljhandeln är cirka 1,5 till 2,35 procentenheter fler än i ekonomin som helhet. Hälften av dessa detaljhandelsföretag kommer inte heller att öka antalet anställda i kommande perioder, trots att de fortsätter att ha en hög lönsamhet eller en lönsamhet i paritet med det genomsnittliga företaget. Detta visar att det finns en dold tillväxtpotential inom detaljhandeln i Sverige som inte har realiserat. Resultaten från studien visar också att de sovande gasellerna inom detaljhandeln inte är slumpmässigt dragna ur företagspopulationen, utan att det framförallt är små företag som väljer att inte expandera verksamheten mellan två treårsperioder. De sovande gasellerna är inte heller slumpmässigt fördelade geografiskt i Sverige. De kommuner som har en hög andel sovande gaseller inom detaljhandeln under en tidsperiod tenderar att även ha det i kommande tidsperioder, vilket indikerar att det finns geografiska förklaringar till varför vissa företag inte växer trots att de har en god lönsamhet. Avsaknaden av tillväxt hos dessa företag kan antingen förklaras av att de inte har några tillväxtambitioner, oavsett villkoren för företagande; alternativt att de vill växa, men inte under rådande förutsättningar. Om den senare förklaringen är giltig kan reformer som minskar tillväxtbarriärer för detaljhandelsföretagen generera många nya arbetstillfällen.
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| 9. |
- Bornhäll, Anders, et al.
(författare)
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Sleeping gazelles : High profits but no growth
- 2014
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Ingår i: Frontiers of Entrepreneurship Research. - 0740-7416. ; 34:17, s. 1-16
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Tidskriftsartikel (refereegranskat)abstract
- Among 104,231 limited liability firms in Sweden with at least two employees during 1997- 2010, almost 10% did not hire new employees in any given 3-year period despite having high profits. Nearly half of these firms continued to have high or medium profits in the next threeyear period, but still no growth. Regression analysis indicates that these firms were not randomly distributed; rather they were small and young, did not belong to an enterprise group, and operated in local markets with high profit-opportunities. We conclude that it might be more beneficial to focus policy towards these firms instead of towards a few high-growth firms that, having just grown exponentially, may not be best positioned to grow further.
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| 10. |
- Bornhäll, Anders, et al.
(författare)
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Sleeping gazelles : The unseen job creators?
- 2015
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Ingår i: Entrepreneurial growth. - : Emerald Group Publishing Limited. - 9781785600470 - 9781785600463 ; , s. 161-185
-
Bokkapitel (refereegranskat)abstract
- High-growth firms have recently received considerable attention in the firm growth literature. These firms might have grown despite the existence of growth barriers, and evidence also suggests that, having already grown exponentially, they may not be in the best position to grow further. Policies targeting high-growth firms may therefore be misdirected. We argue that entrepreneurship researchers should concentrate more on firms that are not hiring, despite having high profits. We call these firms “sleeping gazelles,” and demonstrate that they represented almost 10% of all limited liability firms in Sweden from 1997 to 2010. Nearly half of these firms continued to earn high or moderate profits in subsequent three-year periods, while still displaying no growth. Regression analyses indicate that these firms were significantly smaller, older, more likely to be active in industries with high profit uncertainty, and more likely to be located in less densely populated municipalities than were corresponding growing firms.
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| 11. |
- Bornhäll, Anders, 1984-, et al.
(författare)
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The unseen job creators : Growth potential among non-growing …firms
- 2014
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Among 104,231 limited liability fi…rms in Sweden with at least two employees during 1997-2010, almost 10 % did not hire new employees in any given 3-year period despite having high profi…ts. Nearly half of these …firms continued to have high or medium pro…fits in the next three-year period, but still no growth. Regression analysis indicates that these fi…rms were not randomly distributed; rather they were small and young, did not belong to an enterprise group, and operated in local markets with high profi…t-opportunities. We conclude that it might be more benefi…cial to focus policy towards these …firms instead of towards a few high-growth fi…rms that, having just grown exponentially, may not be best positioned to grow further.
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| 12. |
- Bornhäll, Anders, 1984-
(författare)
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Unseen job creators and firm growth barriers : the role of capital constraints and seniority rules
- 2017
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The topic of this thesis is to provide a deeper understanding of how the institutional framework affects firms’ hiring decisions.The first article focuses on a group of firms, called sleeping gazelles, that do not grow despite having high profits. Sleeping gazelles constitute a much larger share of the firm population than that of high-growth firms. If it is growth barriers that are hindering these firms from hiring more employees, many new jobs could be created if these barriers were removed. To investigate the effects of one of the suggested growth barriers in the literature, the second article, focuses on whether small-firm growth is hampered by lack of capital. Using survey data from business owners matched with register data, we find that firms may face a capital constraint paradox, whereby the supply of external capital might be sufficient, but firm owners might refrain from accessing it due to fear of losing control of their companies. The third article investigates whether employment protection acts as a growth barrier in Sweden. Using a reform of the Swedish last-in-first-out (LIFO) rule, we estimate the causal effects from a liberalization of the employment protection. We find that firm growth increased because of the reform and that a more expansive reform could provide new job opportunities and increase overall employment. The LIFO rule was introduced to protect older workers. The fourth article investigates whether the reform weakened the labor market position of these workers. It is found that more young individuals who were unemployed or previously not in the workforce were hired as a consequence of the reform, showing that the reform lowered youth unemployment. There is no indication of older workers leaving the workforce or becoming unemployed to any greater extent after the reform. The fifth article show that the positive effects of the reform were limited to native workers, with no effects on the labor market position of immigrants. The effects depend on the relative insider-status of employees, so that groups of employees who are closer to being insiders benefit more from less-strict employment protection legislation than groups that are further from being insiders.
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| 13. |
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| 14. |
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| 15. |
- Coad, Alex, et al.
(författare)
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High-growth firms : introduction to the special section
- 2014
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Ingår i: Industrial and Corporate Change. - : Oxford University Press (OUP). - 0960-6491 .- 1464-3650. ; 23:1, s. 91-112
-
Tidskriftsartikel (refereegranskat)abstract
- High-growth firms (HGFs) have attracted considerable attention recently, as academics and policymakers have increasingly recognized the highly skewed nature of many metrics of firm performance. A small number of HGFs drives a disproportionately large amount of job creation, while the average firm has a limited impact on the economy. This article explores the reasons for this increased interest, summarizes the existing literature, and highlights the methodological considerations that constrain and bias research. This special section draws attention to the importance of HGFs for future industrial performance, explores their unusual growth trajectories and strategies, and highlights the lack of persistence of high growth. Consequently, while HGFs are important for understanding the economy and developing public policy, they are unlikely to be useful vehicles for public policy given the difficulties involved in predicting which firms will grow, the lack of persistence in high growth levels, and the complex and often indirect relationship between firm capability, high growth, and macro-economic performance.
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| 16. |
- Coad, Alex, et al.
(författare)
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Whom do high-growth firms hire?
- 2014
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Ingår i: Industrial and Corporate Change. - : Oxford University Press (OUP). - 0960-6491 .- 1464-3650. ; 23:1, s. 293-327
-
Tidskriftsartikel (refereegranskat)abstract
- We study employment and new hires among high-growth firms (HGFs) in the Swedish knowledge-intensive sectors 1999-2002. Using matched employer-employee data, we find that HGFs are more likely to employ young people, poorly educated workers, immigrants, and individuals who experienced longer unemployment periods. However, these patterns seem contingent on the stage of the firm's evolution. HGFs that have already realized some rapid growth are more likely to hire individuals from other firms, even though immigrants are still overrepresented among new hires. In the case of both HGF employees and HGF new hires, employment opportunities in HGFs are provided by young and small firms.
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| 17. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Are central bank independence reforms necessary for achieving low and stable inflation?
- 2013
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Using data on the occurence of central bank independence (CBI) reforms in 131 countries during 1980-2005, we test whether they were important in reducing inflation and maintaining price stability. CBI reforms are found to have reduced inflation on average 3.31% when countries with historically high inflation rates are included. But countries with lower inflation have reduced it without institutional reforms granting central banks more independence, undermining the theoretical time-inconsistency case for CBI. There is furthermore no evidence that CBI reforms have helped reduce inflation variability.
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| 18. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Are Central Bank Independence Reforms Necessary for Achieving Low and Stable Inflation?
-
Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Using data on the occurence of central bank independence (CBI) reforms in 131 countries during 1980-2005, we test whether they were important in reducing inflation and maintaining price stability. CBI reforms are found to have reduced inflation on average 3.31% when countries with historically high inflation rates are included. But countries with lower inflation have reduced it without institutional reforms granting central banks more independence, undermining the theoretical time-inconsistency case for CBI. There is furthermore no evidence that CBI reforms have helped reduce inflation variability.
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| 19. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
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Are High-Growth Firms One-Hit Wonders? : Evidence from Sweden
- 2015
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Ingår i: Small Business Economics. - : Springer Science and Business Media LLC. - 0921-898X .- 1573-0913. ; 44:2, s. 361-383
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Tidskriftsartikel (refereegranskat)abstract
- Most firms do not grow, and a small number of high-growth firms seem to create most new jobs. These firms have therefore received increasing attention among policymakers. The question is whether high-growth tends to persist? We investigate this question using data on 432,689 observa-ions in Sweden during 1998-2008. We find that high-growth firms had declining growth rates in the previous 3-year period, and their probability of repeating high growth rates was very low. HGFs are essentially one-hit wonders, and it is thus doubtful whether policymakers can improve economic outcomes by targeting them.
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| 20. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
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Are high-growth firms overrepresented in high-tech industries?
- 2016
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Ingår i: Industrial and Corporate Change. - : Oxford University Press. - 0960-6491 .- 1464-3650. ; 25:1, s. 1-21
-
Tidskriftsartikel (refereegranskat)abstract
- It is frequently argued that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are considered more innovative and therefore potential fast-growers. This argument relies on the assumption that the association among high-tech status, innovativeness, and growth is actually positive. We examine this assumption by studying the industry distribution of high-growth firms (HGFs) across all four-digit NACE industries, using data covering all limited liability firms in Sweden during the period 1997-2008. The results of fractional logit regressions indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. The findings cast doubt on the wisdom of targeting R&D industries or subsidizing R&D to promote firm growth. In contrast, we find that HGFs are overrepresented in knowledge-intensive service industries, i.e., service industries with a high share of human capital.
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| 21. |
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| 22. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Betydelsen av internt genererat kapital för en långsiktigt hållbar företagstillväxt
- 2017. - 1
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Ingår i: Perspektiv på kapitalförsörjning – en antologi om företagens finansiering och statens roll. - Stockholm : Tillväxtanalys. - 9789163930096 ; , s. 31-49
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Bokkapitel (övrigt vetenskapligt/konstnärligt)abstract
- Ett företags expansion kan finansieras med internt genererat kapital eller med hjälp av extern finansiering. Vi undersöker här hur omsättningstillväxten och överlevnadssannolikheten påverkas av företagets internt uppbyggda kapital. Undersökningen baseras på data över alla Sveriges aktiebolag under perioden 1997–2010.Våra resultat indikerar att den initiala tillgången på internt uppbyggt kapital generellt sett inte är förknippad med en högre omsättningstillväxt eller ökade möjligheter att överleva på marknaden. Vi finner däremot att de företag som bygger upp interna medel innan de växer är mer sannolika att uppnå en långsiktigt hållbar tillväxt än de företag som växer innan de byggt upp ett internt kapital.Resultaten indikerar också att företag som har varit med om uppköp eller sammanslagningar har både högre tillväxt och bättre chanser att överleva på marknaden.Vi kan samtidigt konstatera att de skattade sambanden ofta är svaga trots det omfattande datamaterialet. Det tyder på att företagstillväxt i huvudsak är slumpmässig eller kan förklaras av variabler som är svåra att mäta och inkludera i kvantitativ analys. Detta bekräftas också av tidigare studier.Våra resultat implicerar att framtida studier bör fokusera mer på hur företagen växer än på vad som kan förklara hur mycket de växer vid en viss tidpunkt.
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| 23. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Central bank independence and price stability : evidence from OECD-countries
- 2008
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Ingår i: Oxford Economic Papers. - Oxford : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 60:3, s. 410-422
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Tidskriftsartikel (refereegranskat)abstract
- In this paper, we use a non-parametric regression method to compare the transition process from high to low inflation with the implementation dates of central bank independence reforms. In most countries, price stability is achieved before more independence is given to the central bank. Moreover, for those countries which have implemented a central bank independence reform under a high inflation regime, no evidence is found that the reforms have actually led to price stability. This suggests that the credibility of a low inflation goal can be achieved without institutional reforms which grant the central bank more independence from the political policymakers.
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| 24. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Congestion charges and retail revenues : results from the Stockholm road pricing trial
- 2009
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Ingår i: Transportation Research Part A. - : Elsevier. - 0965-8564 .- 1879-2375. ; 43:3, s. 306-309
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Tidskriftsartikel (refereegranskat)abstract
- This paper studies the impact of the Stockholm road pricing trial on retail revenues. The analysis is performed using revenue data from 14 shopping malls, 9 within the tool area and 5 outside the tool area. The data also include revenue data from a sample of retail stores located along the main shopping streets in Stockholm. The results show that the Stockholm road pricing trial did not negatively affect retail revenue, neither in shopping malls nor in the sample of retail stores.
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| 25. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Congestion charges in Stockholm : how have they affected retail revenues?
- 2013
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Ingår i: Transportmetrica A. - Hong Kong : Taylor and Francis. - 2324-9935 .- 2324-9943. ; 9:3, s. 259-268
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Tidskriftsartikel (refereegranskat)abstract
- Did the introduction of congestion charges in Stockholm city reduce retail revenues? Data from 20 shopping malls - 8 within the toll area, and 12 outside the tool area - and from a sample of retail stores located along the main shopping streets was analyzed using an intervention-control approach. Favorable outcomes, such as reduced traffic, less emissions of carbon-dioxide, and perceived improvements in air quality and accessibility, do not seem to have been offset by reduced revenues for retailers located within the toll area.
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| 26. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Do high taxes lock-in capital gains? Evidence from a dual income tax system
- 2010
-
Ingår i: Public Choice. - : Springer Science and Business Media LLC. - 0048-5829 .- 1573-7101. ; 145:1, s. 25-38
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of this paper is to study whether investors' willingness to realize capital gains falls when the marginal tax rate on capital gains is raised. We use a rich register-based panel data set covering almost 8% of the Swedish population. The results indicate that a 10% increase in capital gains tax rate reduces the number of realizations of capital gains with 8.7% and the realized amount, given the decision to realize, with 1.9%. In addition, we find that wealthy individuals seem to respond more to changes in capital gains tax rates than less-wealthy.
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| 27. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Do Targeted R&D Grants toward SMEs Increase Employment and Demand for High Human Capital Workers?
- 2022
-
Ingår i: Questioning the Entrepreneurial State. - Cham : Springer. - 9783030942755 - 9783030942724 - 9783030942731 ; , s. 175-198
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Bokkapitel (refereegranskat)abstract
- Most previous studies on the employment effects of government R&D grants targeting SMEs are characterized by data-, measurement-, and selection problems, making it difficult to construct a relevant control group of firms that did not receive an R&D grant. We investigate the effects on employment and firm-level demand for high human capital workers of two Swedish programs targeted toward growth-oriented SMEs using Coarsened Exact Matching. Our most striking result is the absence of any statistically significant effects. We find no robust evidence that the targeted R&D grant programs had any positive and statistically significant effects on the number of employees recruited into these SMEs, or that the grants are associated with an increase in the demand for high human capital workers. The lack of statistically significant findings is troublesome considering that government support programs require a positive impact to cover the administrative costs associated with these programs.
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| 28. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
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Does Gibrat's law hold for retailing? : evidence from Sweden
- 2012
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Ingår i: Journal of Retailing and Consumer Services. - : Elsevier BV. - 0969-6989 .- 1873-1384. ; 19:5, s. 464-469
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Tidskriftsartikel (refereegranskat)abstract
- Gibrat's Law predicts that firm growth is a purely random effect and therefore should be independent of firm size. The purpose of this paper is to test Gibrat's law within the retail industry, using a novel data-set comprising all surviving Swedish limited liability companies active at some point between 1998 and 2004. Very few studies have previously investigated whether Gibrat's Law seems to hold for retailing, and they are based on highly aggregated data. Our results indicate that Gibrat's Law can be rejected for a large majority of five-digit retail industries in Sweden, since small retail firms tend to grow faster than large ones.
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| 29. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
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Does Shelf-Labeling of Organic Foods Increase Sales? : Results from a Natural Experiment
- 2014
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Ingår i: Journal of Retailing and Consumer Services. - London : Elsevier. - 0969-6989 .- 1873-1384. ; 21:5, s. 804-811
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Tidskriftsartikel (refereegranskat)abstract
- Can a simple point-of-purchase (POP) shelf-label increase sales of organic foods? We use a random-effects׳, random-coefficients׳ model, including a time adjustment variable, to test data from a natural experiment in a hypermarket in Gävle, Sweden. Our model incorporates both product specific heterogeneity in the effects of labeling and consumer adjustment to the labels over time. We find that the introduction of POP displays leads to an increase in sales of organic coffee and olive oil, but a reduction in sales of organic flour. All targeted products became less price-sensitive. The results reveal that product specific differences have to be accounted for, and in some cases consumers adjusted to labeling over time.
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| 30. |
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| 31. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Effects of employees’ opportunities to influence in-store music on sales : Evidence from a field experiment
- 2019
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The effects of in-store music on consumer behavior have attracted much attention in the marketing literature, but surprisingly few studies have investigated in-store music in relation to employees. Conducting a large-scale field experiment in eight Filippa K fashion stores in Stockholm, Sweden, we investigate whether it is beneficial for store owners to give employees more opportunities to influence the in-store music. The experiment lasted 56 weeks, and the stores were randomly assigned into a treatment group and a control group, with the employees in the treatment stores having the opportunity to influence the in-store music through an app developed by Soundtrack Your Brand (SYB). The results from the experiment show that sales decreased by, on average, 6% in treatment stores when employees had the opportunity to influence the music played in the store. Interviews revealed that employees frequently changed songs, preferred to play high-intensity songs, and had diverse music preferences that were not congruent with the brand values of the company. Our results thus imply that employees choose music that suits their preferences rather than based on what is optimal for the store, suggesting that store owners might want to limit their opportunities to influence the background music in stores.
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| 32. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Effects of employees' opportunities to influence in-store music on sales : Evidence from a field experiment
- 2021
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Ingår i: Journal of Retailing and Consumer Services. - : Elsevier. - 0969-6989 .- 1873-1384. ; 59
-
Tidskriftsartikel (refereegranskat)abstract
- The effects of in-store music on consumer behavior have attracted much attention in the marketing literature, but surprisingly few studies have investigated in-store music in relation to employees. By conducting a field experiment in eight Filippa K fashion stores in Stockholm, Sweden, we investigate whether it is beneficial for store owners to give employees more opportunities to influence the in-store music. We randomly assigned the stores into a treatment group and a control group, with the employees in the treatment stores having the opportunity to influence the in-store music through an app developed by Soundtrack Your Brand (SYB). The experiment lasted 56 weeks and sales data were also gathered 22 weeks before the experiment, resulting in a total of 4626 observations. Our results show that sales decreased by 6% when the employees had the opportunity to influence the music played in the store, and the effect is driven by a reduction in sales of women's clothing. Interviews with the employees revealed that they had diverse music preferences, frequently changed songs, and preferred to play high-intensity songs. Employees thus seem to make choices regarding the in-store music that reduce sales, implying that store owners might want to limit their opportunities to influence the background music.
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| 33. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Efficacy and Cost of Regime Shifts in Inflation Policies : Evidence from New Zealand and Sweden
- 2001
-
Ingår i: Applied Economics. - 0003-6846 .- 1466-4283. ; 33:2, s. 217-224
-
Tidskriftsartikel (refereegranskat)abstract
- In this paper a comparative study of the regime shift in inflation policies in New Zealand and Sweden is performed. A nonparametric regression method is used to decompose the inflation time series into three components of variation: a long-term trend, a medium-term (cyclical and transient variations) trend and a short-term shocks component. This allows study of the transition process from the high inflation characterizing the end of the 1970s and the 1980s to the low inflation observed during the 1990s. It is found that in New Zealand, although it is initially delayed, the decrease in inflation happens at a faster pace than in Sweden. This may indicate that reforms were more efficient in New Zealand. A clear link is also shown between the rising unemployment and the transition from high to low inflation. Furthermore, while in New Zealand a downward adjustment of the unemployment rate happens directly after the transition period, in Sweden there seems to be persistence in high unemployment.
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| 34. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Entry into Local Retail Food Markets in Sweden: A Real-Options Approach
- 2005
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- A real-options approach was used, incorporating uncertainty and irreversibility of investments, to study the number of stores entering the Swedish retail food market during the period 1994-2002. It was found that uncertainty affected the entry-decision. Entry was less frequent in highly concentrated local retail food-markets characterized by a high degree of uncertainty, whereas higher profit opportunities seem to have increased the probability of entry.
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| 35. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Entry into Swedish retail and wholesale trade markets
- 2006
-
Ingår i: Review of Industrial Organization. - : Springer Science and Business Media LLC. - 0889-938X .- 1573-7160. ; 29:3, s. 213-225
-
Tidskriftsartikel (refereegranskat)abstract
- This paper examines, using a zero-inflated negative binomial regression model, what determined entry into the Swedish retail and wholesale trade markets between 1990 and 1996. According to the results, high returns on equity and low sunk costs seemed to attract more entry into retail trade industries, while recent entry and higher total industry sales were associated with more entry into both retail and wholesale trade local markets.
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| 36. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
Experiment med välfärden
- 2013
-
Ingår i: Ekonomisk Debatt. - : Nationalekonomiska föreningen. - 0345-2646. ; :2, s. 16-27
-
Tidskriftsartikel (populärvet., debatt m.m.)
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| 37. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Firm growth in the Swedish retail and wholesale industries
- 2013
-
Ingår i: Service Industries Journal. - : Informa UK Limited. - 0264-2069 .- 1743-9507. ; 33:12, s. 1193-1205
-
Tidskriftsartikel (refereegranskat)abstract
- To identify the determinants of firm growth in the Swedish retail and wholesale industries during 2000–2004, we analyse a sample of 400 limited liability companies using quantile regression techniques. Firm growth was mainly found to depend upon time-invariant firm-specific effects, supporting Penrose's [1959. The theory of the growth of the firm (4th ed.). New York: Oxford University Press] suggestion that internal resources such as firm culture, brand loyalty, entrepreneurial skills, and so on are important determinants of firm growth.
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| 38. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
Habit formation in food consumption
- 2012
-
Ingår i: The Oxford Handbook of the Economics of Food Consumption and Policy. - : Oxford Handbooks Online.
-
Bokkapitel (övrigt vetenskapligt/konstnärligt)abstract
- This article summarizes the empirical literature on habit formation in food consumption in order to analyze the hypothesis that food consumption is habit forming. It reviews the main econometric models used to study habits in food consumption and describes the most commonly used demand models and departs from the static version of the models. It describes how these models can be extended to dynamic versions incorporating habit formation. The focus is on the functional form of the models rather than estimation. The empirical studies reviewed in this article generally find habit formation in food consumption, implying that dynamics is an important factor in food demand analysis. Finally, it summarizes the results and discusses fruitful areas for future research. © Oxford University Press 2011. All rights reserved.
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| 39. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
Habit Persistence in Food Consumption
- 2011
-
Ingår i: Oxford Handbook on the Economics of Food Consumption and Policy. - Oxford : Oxford University Press. - 9780199569441 ; , s. 770-790
-
Bokkapitel (refereegranskat)
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| 40. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Happy to see you: the positive effects of in-store service encounters on the satisfaction of older consumers
- 2023
-
Ingår i: International Review of Retail, Distribution and Consumer Research. - : Routledge. - 1466-4402 .- 0959-3969. ; 33:5, s. 479-493
-
Tidskriftsartikel (refereegranskat)abstract
- Although older consumers constitute a growing consumer segment with substantial buying power, not much is known about their satisfaction with retail stores and its antecedents. This study examines how having in-store, face-to-face service encounters with store personnel affects the store satisfaction of older consumers, focusing on the moderating role of consumer age and the mediating role of positive emotions. An empirical study demonstrates positive effects of service encounters with store employees on the store satisfaction and positive emotions of older consumers. Consumer age moderates these effects, so that there are no similar positive effects of in-store service encounters on store satisfaction or positive emotions for the younger consumers. Positive emotions also mediate the effects of in-store service encounters on store satisfaction for the older consumers, but not for the younger consumers.
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| 41. |
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| 42. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
High-growth firms : Not so vital after all?
- 2015
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- High-growth firms have received considerable interest recently since they create most of the new jobs in the economy. The purpose of our paper is to investigate the characteristics of high-growth firms prior to their growth period, and whether these characteristics differ across industries. Using data on a large sample of limited liability firms in Sweden for the period 2007-2010, we find that high-growth firms do not have the characteristics that we typically associate with successful firms. On the contrary, our results indicate that high-growth firms have low profits and a weak financial position. This might explain why studies have found that high-growth firms are seldom capable of sustaining their high growth rates in subsequent periods, and thus question policies that are targeted towards these companies.
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| 43. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
High-growth firms : Not so vital after all?
- 2016
-
Ingår i: International Review of Entrepreneurship. - : Senate Hall Academic Publishing. - 2009-2822. ; 14:4, s. 377-394
-
Tidskriftsartikel (refereegranskat)abstract
- High-growth firms have received considerable interest recently since they create most of the new jobs in the economy. The purpose of our paper is to investigate the characteristics of high-growth firms prior to their growth period, and whether these characteristics differ across industries. Using data on a large sample of limited liability firms in Sweden for the period 2007-2010, we find that high-growth firms do not have the characteristics that we typically associate with successful firms. On the contrary, our results indicate that high-growth firms initially have low profits and a weak financial position. This might explain why studies have found that so few high-growth firms are capable of sustaining their high growth rates in subsequent periods, and thus question policies that are targeted towards these companies.
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| 44. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
High-growth Firms and the Labor Market Entry of First-generation Immigrants
- 2020
-
Ingår i: International Review of Entrepreneurship. - : Senate Hall Academic Publishing. - 2009-2822. ; 18:2, s. 181-202
-
Tidskriftsartikel (refereegranskat)abstract
- The number of refugees in Europe has increased dramatically in recent years, and many countries are facing great challenges to integrating these refugees into their societies. A small group of high-growth firms have at the same time attracted attention because they create the most jobs at any given point in time. Using matched employer-employee data from Statistics Sweden, we find that these high-growth firms in general are more likely to recruit first-generation immigrants that are unemployed. This provides support for the hypothesis that managers in high-growth firms, to greater extents, recruit marginalized individuals because they want to take advantage of their growth opportunities. Rapidly growing firms are thus less selective in their hiring decisions, and policies that are focused on increasing the number of high-growth firms might also help immigrants who face difficulties entering the labor market.
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| 45. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
How Do Firms Respond to Reduced Labor Costs? Evidence from the 2007 Swedish Payroll Tax Reform
- 2021
-
Ingår i: Journal of Industry, Competition and Trade. - : Springer. - 1566-1679 .- 1573-7012. ; 21:3, s. 315-338
-
Tidskriftsartikel (refereegranskat)abstract
- One way for policymakers to reduce labor costs and stimulate the recruitment of marginalized groups of labor in a highly unionized economy is to lower payroll taxes. However, the efficiency of this policy instrument has been questioned, and previous evaluations have mostly found small employment effects for such reforms. We investigate the effects of a payroll tax cut in Sweden that decreased firms' labor costs in relation to the number of young employees that they had employed when the reform was implemented in 2007. We find that most firms received small labor cost savings as a result of the reform, but those that received larger cost savings increased their number of employees significantly more than firms that received no, or minor, labor cost savings. Our findings also suggest that the payroll tax cut increased the total wages paid to incumbent workers, but the wage effect was too small to offset the positive extensive-margin employment effect of the reform. In total, we find that the Swedish payroll tax reform created 18,100 jobs over the period 2006-2008; most of these jobs were within the targeted group of young employees.
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| 46. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Hur kapitalstrukturen påverkar den långsiktigt hållbara företagstillväxten
- 2017
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Det antas ofta att det finns ett ”kapitalförsörjningsgap” i ekonomin på grund av asymmetrisk information, vilket leder till att efterfrågan på externt kapital är större än utbudet. De politiska beslutsfattarna vill därför ofta öka tillgången på externt riskkapital genom olika selektiva statliga stödinsatser för att få fler växande företag.Klassiska teorier om företagstillväxt implicerar dock att det snarare är uppbyggnaden av företagets interna resurser som är av betydelse för att förklara företagens tillväxt och möjligheter att överleva på marknaden. Många företagare vill dessutom behålla kontrollen över sitt företag och kan därmed välja att inte växa med externt kapital, trots att de har tillväxtambitioner. Om detta stämmer är politiska beslut som ökar tillgången till internt kapital av större betydelse för företagens utveckling än politiska beslut som avser att öka tillgången på externt kapital.I denna rapport vill vi studera hur betydelsefullt det internt uppbyggda kapitalet har varit för tillväxt och överlevnad hos aktiebolag i Sverige under perioden 1997–2010. Våra resultat indikerar att:• Tillgången till internt kapital kan inte förklara den observerade företagstillväxten bland aktiebolag i Sverige under perioden 1997–2010.• Det interna kapitalet är inte relaterat till överlevnadssannolikheten för aktiebolag i Sverige under perioden 1997–2010.• Företag som växer efter att de har byggt upp internt kapital har större möjligheter att i framtiden kombinera hög tillväxt med hög lönsamhet jämfört med de företag som växer innan de har byggt upp internt kapital.Resultaten är delvis motstridiga. De företag som bygger upp ett internt kapital och sedan väljer att expandera har en högre sannolikhet att nå en långsiktigt hållbar position för tillväxt än de företag som växer innan de har byggt upp internt kapital. Detta talar för att uppbyggnaden av internt kapital är av betydelse. Våra regressionsresultat indikerar dock att det inte finns något starkt positivt samband mellan internt uppbyggt kapital och företagens framtida omsättningstillväxt eller möjligheter att överlevna på marknaden.Det finns ett antal möjliga förklaringar till våra resultat. Den första förklaringen är helt enkelt att det interna kapitalet inte är av betydelse för företagens framtida tillväxt och överlevnad. Den troliga förklaringen till detta är att vid jämvikt kommer företagarna att värdesätta en expansion med internt eller externt kapital på liknande sätt. Detta implicerar att det snarare är den totala mängden riskkapital som påverkar företagens tillväxt och överlevnad, och inte huruvida kapitalet genereras internt eller externt.En annan tolkning är att företagarna fortfarande föredrar att växa med internt uppbyggt kapital eftersom resultaten visar effekten på företagstillväxten och överlevnadssannolikheten, givet den initiala uppbyggnaden av internt kapital i företagen. Den initiala nivån av internt kapital har således ingen effekt på företagsutvecklingen, men en ökning av det interna kapitalet i förhållande till tillgången på externt kapital kan fortfarande leda till att fler företag vill expandera sin verksamhet.Många företagare i Sverige väljer också att inte växa trots att de har relativt god lönsamhetsutveckling. Detta kan betyda att vi inte observerar några samband mellan det internt uppbyggda kapitalet och företagens utveckling eftersom många företagare inte vill växa under de rådande institutionella förutsättningarna. Det finns med andra ord utelämnande variabler, till exempel olika tillväxtbarriärer (regelkrångel, strikt anställningsskydd, matchningsproblem, etc.), som kan förklara varför det interna kapitalet inte har någon observerad betydelse för tillväxten och företagens överlevnad i vår studie.Slutligen kan en möjlig förklaring vara att företagens tillväxt och överlevnad i mycket hög utsträckning är slumpmässig. Detta innebär att det blir svårt att förklara vad det är som påverkar företagens utveckling, vilket också implicerar att selektiva stödåtgärder för att få fler växande företag är dömda att misslyckas.Sammanfattningsvis kan vi konstatera att våra resultat inte ger något stöd för hypotesen att företag med tillgång till internt kapital växer snabbare och har en högre överlevnadssannolikhet än de företag som har tillgång till mindre internt uppbyggt kapital. Resultaten bygger på de rådande institutionella förutsättningarna i Sverige under perioden 1997–2010 och är avgränsade till att studera effekten av det initialt uppbyggda kapitalet i bolagen. Vi undersöker inte företagarnas preferenser, det vill säga om de föredrar mer internt kapital framför externt kapital när de ska expandera verksamheten, eller om en ökning av det internt uppbyggda kapitalet har en större tillväxteffekt än mer externt kapital.
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| 47. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Intra-household Allocation of Time to Household Production Activities : Evidence from Swedish Household Data
- 2007
-
Ingår i: Labour. - : Wiley. - 1121-7081 .- 1467-9914. ; 21:2, s. 189-207
-
Tidskriftsartikel (refereegranskat)abstract
- The purpose of this paper is to study the intra-household allocation of time to different household production activities using Swedish cross-sectional household data. The Tobit model is rejected in favor of the Cragg model, suggesting that an empirical model has to take into consideration that allocation of time within the household is determined by two separate processes. Moreover, the results indicate that valuable information concerning the intra-household allocation of time may be missing when household production is defined as the sum of different household activities, but there is no indication that statistically significant effects are wiped out in an aggregated analysis.
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| 48. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Leder högre skatter på kapitalvinster till inlåsningseffekter?
- 2010
-
Ingår i: Ekonomisk Debatt. - : Nationalekonomiska Föreningen. - 0345-2646. ; 38:2, s. 18-26
-
Tidskriftsartikel (refereegranskat)abstract
- Höga skatter på kapitalvinster kan leda till att investerare blir mindre benägna att realisera sina kapitalvinster. Tidigare studier har använt sig av data från USA och finner att det existerar en inlåsningseffekt, men storleken på effekten varierar mellan studierna. I en ny studie drar Daunfeldt m fl (2010) slutsatsen att högre skatter på kapitalvinster också är förknippade med en inlåsningseffekt i Sverige. Resultaten från studien indikerar att en höjning av kapitalvinstskatten med 10 procent i genomsnitt leder till att antalet realiseringar minskar med nästan 9 procent. Inlåsningseffekten tenderar dessutom att vara större för investerare med beskattningsbar förmögenhet, vilket indikerar att dessa individer i högre utsträckning använder sig av skatteplanering för att undkomma beskattningen av kapitalvinster.
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| 49. |
- Daunfeldt, Sven-Olov, et al.
(författare)
-
Opening local retail food stores : a real-options approach
- 2010
-
Ingår i: Journal of Industry, Competition and Trade. - : Springer. - 1566-1679 .- 1573-7012. ; 10:3-4, s. 373-387
-
Tidskriftsartikel (refereegranskat)abstract
- A real-options approach was used, incorporating uncertainty and irreversibility of investments, to study the number of stores entering the Swedish retail food market during the period 1994-2002. It was found that uncertainty affected the entry-decision. Entry was less frequent in highly concentrated local retail food-markets characterized by a high degree of uncertainty, whereas higher profit opportunities seem to have increased the probability of entry.
|
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| 50. |
- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
-
Retail and Place Attractiveness : The Effects of Big-Box Entry on Property Values
- 2021
-
Ingår i: Geographical Analysis. - : John Wiley and Sons Inc. - 0016-7363 .- 1538-4632. ; 53:3, s. 467-498
-
Tidskriftsartikel (refereegranskat)abstract
- The opponents of big-box entry argue that large retail establishments generate a variety of negative externalities. The advocates, on the contrary, argue that access to a large retail market not only delivers direct economic benefits, but also a variety of positive spill-over effects, and therefore, can be considered a consumer amenity that increases the attractiveness of the entry location. To test the validity of these competing arguments, we use the entry of IKEA in Sweden as a quasi-experiment and investigate if increased access to retail is associated with place attractiveness, where attractiveness is proxied by residential property values. We find that entry by IKEA increases prices of the properties sold in the entry cities by, on average, 4.2% or 62,980 SEK (approximately 6,600 USD), but such an effect is statistically insignificant for the properties in the immediate vicinity of the new IKEA retail trade area. We also observe an attenuation of the effect with distance from the new IKEA store, where the properties located 10 km away experience a 2% price increase. Our results indicate that large retailers have the potential to increase place attractiveness, but perhaps not in the immediate vicinity of the new establishment.
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