The Impact of Internal and External Firm-Level Mechanisms on Corporate Performance During the Financial Market Crisis (2007-08)

2012 ◽  
Author(s):  
Majdi Anwar Quttainah
Keyword(s):  
Financial Market ◽  
Corporate Performance ◽  
Firm Level ◽  
The Impact ◽  
Financial Market Crisis

Part III The Conduct Crisis, 10 The Impact of the Libor Scandal: Concerns about Misconduct and Findings of the Conduct Costs Project

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Regulatory Changes ◽  
Sustainability Ethics ◽  
The Impact ◽  
Financial Market Crisis

The financial market crisis of 2007 was also a crisis of conduct. The events immediately before, during, and after the crisis that stand out, deserve analysis, and indeed, have given rise to some of the most substantial post millennial legal and regulatory changes. This chapter sets the scene, framing the ‘rebuilding trust agenda’ that arose after a plethora of misconduct events — epitomised by the Libor scandal. Using the findings of the Conduct Costs Project, a project of the CCP Research Foundation that collates data on the ‘Conduct Costs’ of twenty of the world’s foremost financial institutions, the chapter highlights the extent to which concerns over a conduct crisis are justified. It concludes by prefacing the issues of sustainability, ethics, standards, accountability, and disclosure that are then taken up in greater detail in later chapters.

scholarly journals Impact of Extensive and Intensive Margins of Foreign Direct Investment on Domestic Corporate Performance: Evidence from Japanese Automobile Parts Suppliers

2017 ◽  
Vol 16 (2) ◽  
pp. 187-209
Author(s):  
Toshiyuki Matsuura
Keyword(s):  
Foreign Direct Investment ◽  
Instrumental Variable ◽  
Direct Investment ◽  
Corporate Performance ◽  
Firm Level ◽  
Extensive And Intensive Margins ◽  
Level Data ◽  
Automobile Parts ◽  
The Impact ◽  
Parts Suppliers

This study uses firm-level data on Japanese automobile parts suppliers to investigate the impact of foreign direct investment (FDI) on domestic corporate performance. We use the automobile makers’ FDI as an instrumental variable for suppliers’ FDI and estimate the impact of both the extensive and intensive margins of FDI. We find that whereas the intensive margin of FDI does not significantly impact corporate performance, the extensive margin positively influences sales and total factor productivity. Furthermore, the impact of the initial FDI entry brings stronger effects than that of subsequent FDI flows.

scholarly journals Pandemics and Firms

2020 ◽  
Vol 20 (276) ◽  
Author(s):  
Serhan Cevik ◽  
Fedor Miryugin
Keyword(s):  
Global Economy ◽  
Corporate Performance ◽  
Probability Of Failure ◽  
Firm Level ◽  
Policy Responses ◽  
Level Data ◽  
Firm Level Data ◽  
Negative Effect ◽  
The Impact ◽  
Nonfinancial Firms

The global economy is in the midst of an unprecedented slump caused by the COVID-19 pandemic. To assess the likely evolution of nonfinancial corporate performance going forward, this paper investigates empirically the impact of past pandemics using firm-level data on more than 537,000 companies from 14 developing countries during the period 1998–2018. The analysis indicates that the prevalence of infectious diseases has an economically and statistically significant negative effect on nonfinancial corporate performance. This adverse impact is particularly pronounced on smaller and younger firms, compared to larger and more established corporations. We also find that a higher number of infectious-disease cases in population increases the probability of failure among nonfinancial firms, particularly for small and young firms. In the case of COVID-19, the magnitude of these effects will be much greater, given the unprecedented scale of the outbreak and strict policy responses to contain its spread.

Impact of Determinants of Industrial Development on Employment and Wages in Indian Manufacturing

2020 ◽  
pp. 18-30
Keyword(s):  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Technical Change ◽  
Positive Impact ◽  
Manufacturing Sector ◽  
Factor Productivity ◽  
Firm Level ◽  
Employment Level ◽  
The Impact ◽  
Level Performance

ABSTRACT The present study was undertaken to explore the evolution of the impact of firm-level performance on employment level and wages in the Indian organized manufacturing sector over the period 1989-90 to 2013-14. One of the major components of the economic reform package was the deregulation and de-licensing in the Indian organized manufacturing sector. The impact of firm-level performance on employment and wages were estimated for Indian organized manufacturing sector in major sub-sectors in India during the period from 1989-90 to 2013-14 of the various variables namely profitability ratio, total factor productivity change, technical change, technical efficiency, openness (export-import), investment intensity, raw material intensity and FECI in total factor productivity index, technical efficiency, and technical change. The study exhibited that all explanatory variables except profitability ratio and technical change cost had a positive impact on the employment level. Out of eight variables, four variables such as net of foreign equity capital, investment intensity, TFPCH, and technical efficiency change showed a positive impact on wages and salary ratio and rest of the four variables such as openness intensity, technology acquisition index, profitability ratio, and technical change had negative impact on wages and salary ratio. In this context, the profit ratio should be distributed as per the marginal rule of economics such as the marginal productivity of labour and capital.

scholarly journals Trade credit, trade income elasticity and the international transmission of shocks

2021 ◽  
Author(s):  
Anna Watson
Keyword(s):  
International Trade ◽  
Open Economy ◽  
Trade Credit ◽  
Income Elasticity ◽  
Heterogeneous Firms ◽  
Firm Level ◽  
Macroeconomic Shocks ◽  
Cyclical Fluctuations ◽  
Irish Data ◽  
The Impact

AbstractThe paper examines the impact of trade credit on cyclical fluctuations in international trade. It provides new empirical evidence based on firm-level UK and Irish data showing that exporters use trade credit more actively and intensively than non-exporters. The study introduces inter-firm lending into an open economy general equilibrium model with heterogeneous firms and endogenous entry into the exports market. It demonstrates that trade credit amplifies the impact of macroeconomic shocks on international trade both along the intensive and extensive margins and that it significantly contributes to the high trade income elasticity observed in the data.

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