| 1. |
- Broberg, Thomas, et al.
(författare)
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Testing the Porter hypothesis : the effects of environmental investments on efficiency in Swedish industry
- 2013
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Ingår i: Journal of Productivity Analysis. - : Springer. - 0895-562X .- 1573-0441. ; 40:1, s. 43-56
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Tidskriftsartikel (refereegranskat)abstract
- The main objective of this paper is to test the Porter hypothesis by assessing static and dynamic effects of environmental policy on productivity. According to the hypothesis, stringent environmental regulations have dynamic effects on firm performance, and these effects eventually generate profits that offset the adaptation costs. We extend previous analyses by using unique data on environmental protection investments in the Swedish manufacturing industry as a proxy for environmental stringency. These data enable us to separate environmental protection investments into pollution prevention and pollution control. This distinction is crucial since the hypothesis claims that it is investments in prevention that have positive dynamic effects on firm performance. To test the hypothesis, a stochastic production frontier model is estimated where firm inefficiency is a function of investments in environmental protection. In general, we find no support for the Porter hypothesis within the time frame of our study, indicating that environmental regulations lead to efficiency losses. This result is even stronger in the harshly regulated pulp and paper industry.
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| 2. |
- Heshmati, Almas, et al.
(författare)
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The R&D and productivity relationship of Korean listed firms
- 2011
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Ingår i: Journal of Productivity Analysis. - : Springer Science and Business Media LLC. - 0895-562X .- 1573-0441. ; 36:2, s. 125-142
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Tidskriftsartikel (refereegranskat)abstract
- This study analyzes the relationship between R&D investment and the productivity of Korean R&D-engaged firms. An interdependent chain of equations including the propensity to invest, R&D investment and productivity are estimated in a multi-step procedure accounting for selectivity and simultaneity biases. Using Korean firm level panel data of listed firms from 1986 to 2002, we find four main empirical results. First, there is a two-way causal relationship between R&D investment and productivity for Korean listed firms. Second, Chaebol firms were associated with lower R&D growth as well as lower labor productivity growth in comparison to non-Chaebol firms. Third, there was a substantial reduction in growth rates both in R&D investment and labor productivity in 1997-1998, immediately following the Asian financial crisis. Fourth, considering the positive feedback effect from productivity growth to R&D growth, a decrease in R&D investment growth after the Asian financial crisis should have been harmful by further decreasing productivity growth. ©2011 Springer Science+Business Media, LLC.
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| 3. |
- Kim, Y., et al.
(författare)
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Analysis of Korean IT startups’ initial public offering and their post-IPO performance
- 2010
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Ingår i: Journal of Productivity Analysis. - : Springer Science and Business Media LLC. - 0895-562X .- 1573-0441. ; 34:2, s. 133-149
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Tidskriftsartikel (refereegranskat)abstract
- Since the financial crisis in Korea, by focusing on core technology, IT startups have played an important role in the recovery of Korea’s economy through innovating technologies and creating new jobs. Even though there are many startups, it is not very common to reach the point of the initial public offering (IPO) and the post-IPO performance of the firms is mostly declining. Since it is rather difficult to apply conventional performance measures to very young firms, IPO has been used as a tool for performance evaluation. This study adopts the IPO as an early-stage measure for the performance of high technology startups. It is important to find out whether an earlier IPO of firms leads to a better performance and capability of firms. We investigate the relationship between the time to IPO of firms and their post-IPO performance for 3 years after their IPO by adopting samples of 79 information technology hardware firms founded after 1996 and listed between 2000 and 2004 in the KOSDAQ. Four determinant factors, including entrepreneurs’ experience, venture capital investment, startups’ technology sourcing, and technology portfolios which determine the firm’s time lag to getting to the IPO, are identified. The findings contain several results. First, the patent has positive effects on the firms’ performance after an IPO and on the firms’ growth before the IPO. Second, a faster technology acquisition via technology alliance has a positive influence on the firms’ IPO regardless of internal technologies. Third, concentrating on core technology, instead of diversifying can mature the startup firms faster. These indicate that a startup’s efficient initial strategy is critical for its performance and it enhances the credit and confidence of the market. ©2010 Springer Science+Business Media, LLC.
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| 4. |
- Oh, Dong-hyun
(författare)
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A global Malmquist-Luenberger productivity index
- 2010
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Ingår i: Journal of Productivity Analysis. - : Springer Science and Business Media LLC. - 0895-562X .- 1573-0441. ; 34:3, s. 183-197
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Tidskriftsartikel (refereegranskat)abstract
- This paper introduces an alternative environmentally sensitive productivity growth index, which is circular and free from the infeasibility problem. In doing so, we integrated the concept of the global production possibility set and the directional distance function. Like the conventional Malmquist-Luenberger productivity index, it can also be decomposed into sources of productivity growth. The suggested index is employed in analyzing 26 OECD countries for the period 1990-2003. We also employed the conventional Malmquist-Luenberger productivity index, the global Malmquist productivity index and the conventional Malmquist productivity index for comparative purposes in this empirical investigation.
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