Growth of firms

Taxes on corporate profits are mandatory and usually constitute a large outflow for firms that, if not planned, lead to disproportionate and unwilling transfer of corporate resources to the government with its negative impact on the operating capacity and firm value. In the light of this, the study examined the effect of tax planning on firm value. Ex-post facto research design was adopted. The study covered 50 firm-year observations for the period, 2010-2014. Data were drawn from the published financial statements of the sampled companies and analyzed using descriptive and inferential statistics centred on specified panel regression model. The joint effect of the considered tax planning proxies on the firm value was significant (F-stat. =2.580; P-value = 0.032). While Effective tax rate (ETR), Dividend (DIV) and Firm age (FAG) are positively and significantly related to firm value, firm size, leverage and tangibility exert negative effect on firm value. The Adj. R 2 value of 20.6% ...

Using information from the National Accounts Statistics and Annual Survey of Industries, this paper examines the performance of the corporate sector vis-à-vis the public and the household sectors in manufacturing during the period 1973-74 to 2007-08. The share of the corporate sector in industry characteristics such as number of employees, total emoluments, gross output and value added has increased since the early 1990s, with a corresponding decline of the public sector. Moreover, in absolute terms, the manufacturing GDP of the corporate sector grew at a faster rate compared to the public and household sectors since 1999-2000. Indian manufacturing is thus increasingly being led by the private corporate sector. However, the share of compensation to workers and employees in corporate income has steadily declined, pointing to the limited
benefits accruing to employees from corporate growth.

Taxes on corporate profits are mandatory and usually constitute a large outflow for firms that, if not planned, lead to disproportionate and unwilling transfer of corporate resources to the government with its negative impact on the operating capacity and firm value. In the light of this, the study examined the effect of tax planning on firm value. Ex-post facto research design was adopted. The study covered 50 firm-year observations for the period, 2010-2014. Data were drawn from the published financial statements of the sampled companies and analyzed using descriptive and inferential statistics centred on specified panel regression model. The joint effect of the considered tax planning proxies on the firm value was significant (F-stat. =2.580; P-value = 0.032). While Effective tax rate (ETR), Dividend (DIV) and Firm age (FAG) are positively and significantly related to firm value, firm size, leverage and tangibility exert negative effect on firm value. The Adj. R 2 value of 20.6% was not sufficiently strong in explaining the variation in firm value. The study concluded that wholistic approach to tax planning and optimal mix of tax planning strategies are important determinants of their effect on firm value.

Taxes on corporate profits are mandatory and usually constitute a large outflow for firms that, if not planned, lead to disproportionate and unwilling transfer of corporate resources to the government with its negative impact on the operating capacity and firm value. In the light of this, the study examined the effect of tax planning on firm value. Ex-post facto research design was adopted. The study covered 50 firm-year observations for the period, 2010-2014. Data were drawn from the published financial statements of the sampled companies and analyzed using descriptive and inferential statistics centred on specified panel regression model. The joint effect of the considered tax planning proxies on the firm value was significant (F-stat. =2.580; P-value = 0.032). While Effective tax rate (ETR), Dividend (DIV) and Firm age (FAG) are positively and significantly related to firm value, firm size, leverage and tangibility exert negative effect on firm value. The Adj. R 2 value of 20.6% ...

The paper examines the key determinants of firms' growth of construction companies in Malaysia. The objectives of this study are to identify which factors play key roles in determining growth as well as to analyze the impact these factors have on growth performance of companies. Data collection for the purpose of this study was done through a questionnaire survey which was carried out involving large construction companies from grade G7 as classified under the Construction Industry Development Board of Malaysia (CIDB). Questionnaires were sent to 600 respondents via postal service and by hand. From 600 questionnaires disseminated, 102 of the questionnaires were returned, completed and useable. Data was analyzed by using relevance statistical methods such as relative important index (RII) and regression analysis to establish findings. Findings of this research indicate that the customer orientation factors were found to be the utmost important factor in determining growth of Malaysian construction companies. The results also indicate that management and product quality factor and human factor had a positive significant influence with growth performance.

This article examines the challenge of modifying orthodox ‘case study’ approaches to the growth of firms and inter-organizational networks in the light of recent work on the evolution of business knowledge. We suggest that a modified Penrosian framework, combined with a qualified application of critical realist practices, could contribute to more coherent and insightful theorizing in this area. We begin with a critique of Edith Penrose’s legacy, including her efforts to initiate a historically informed tradition of social scientific research on the growth of the firm. We go on to consider the explanatory potential of critical realism, when adopted as a methodological adjunct to neo-Penrosian theorizing. Our main proposition is illustrated through a superfactual reinterpretation of certain aspects of the historical case study of the Rover Company (1896-1982) conducted by Richard Whipp and Peter Clark (1986).

Current times are being defined as much by worldwide challenges and uncertainty as from the enormous opportunities afforded by technology, global communications and the flow of knowledge and information, as well as the increasing drive to develop socially, economically, and environmentally sane and sensible new ventures. As with past generations, entrepreneurs in this arena face the ultimate and most demanding juggling act: how to simultaneously balance the insatiable requirements of family, friendship, new venture, service to community, and still have time for one's own pleasure and peace.

In this article we present an initial inventory of Mexican companies that sell products that are either manufactured from nanote- chnology or that use nanotechnology in their functioning. The inventory allows to those interested review the number of com- panies, their geographic location and the in- dustrial sectors where they are inserted. This is, indeed, a first approach to analyze the productive linkages of nanotechnology in Mexico. The results show a high concentra- tion of companies in two states: Nuevo Leon and Mexico City. This occurs in a con- text where there is no a National Nanotech- nology Initiative, a specific public policies either, and where there is no publically avai- lable data or databases containing relevant information.

The major objective of this study is to investigate the income smoothing behaviour of two different types of firmsvalue and growth-in the Tehran Stock Exchange (TSE) Market. All firms listed in the TSE between 2003 and 2007 were examined using the Jones Model to investigate their income smoothing behaviours. Using the Jones model, the discretionary part of accruals was investigated. The results of this study revealed that growth firms tend to apply discretionary accruals more intensively than value firms. In order to support the robustness of the findings, the Eckel model, was also applied. The same result was found for the Eckel model as for the Jones model. The results indicated that growth firms achieved a higher degree of income smoothing than value firms. The effects of various confounding factors which are different between these two types of firms, such as size of the company, standard deviation of earnings, market capitalization and consecutive trend of earnings, were also investigated. The results indicated that income smoothing in growth firms is larger than in value firms, and also that other items, which are known as representatives of the risk, are larger for growth firms than for value firms.

Numerous scientific studies provide information on the impact of the environment on the launch, operation and growth of businesses. Reflections on the environment can result from two perspectives: the objective and the subjective one. The first relates to the economic analysis and/or sociological research, whereas the second relies on the perception of the environment by the interested parties themselves. While analysing companies from the SME sector, the author usually deals with businesses whose owners are not formally trained in management. Their abilities come primarily from experience and occasional courses. As a result, such entrepreneurs' manner of environment evaluationin particular related to the economic situationis often based on intuition. However, the intuition is shaped to some extent by the opinions of others, either oral or written. In Poland those opinions depend to a large extent on the political option represented by the person uttering them, and are largely spread by different daily and weekly newspapers. Therefore the owners decide to take some actions or refrain from them, following their subjective perceptions of the environment. The concept of entrepreneurs' perception forms a part of broader entrepreneurship approach known as Entrepreneurial Cognition (EC) .

Taxes on corporate profits are mandatory and usually constitute a large outflow for firms that, if not planned, lead to disproportionate and unwilling transfer of corporate resources to the government with its negative impact on the operating capacity and firm value. In the light of this, the study examined the effect of tax planning on firm value. Ex-post facto research design was adopted. The study covered 50 firm-year observations for the period, 2010-2014. Data were drawn from the published financial statements of the sampled companies and analyzed using descriptive and inferential statistics centred on specified panel regression model. The joint effect of the considered tax planning proxies on the firm value was significant (F-stat. =2.580; P-value = 0.032). While Effective tax rate (ETR), Dividend (DIV) and Firm age (FAG) are positively and significantly related to firm value, firm size, leverage and tangibility exert negative effect on firm value. The Adj. R 2 value of 20.6% ...

En liten andel av det totala antalet företag, snabbväxarna, har en avgörande betydelse för nettotillväxten av nya jobb i ekonomin. Det saknas dock kunskap om hur dessa företag bedömer kompetens och kompetensutveckling, samt hur de rekryterar nya medarbetare. Denna studie baseras på en systematisk intervjuundersökning med 126 snabbväxande företag i olika storleksklasser. Baserat på företagsinformation från PAR-databasen har vi slumpmässigt kontaktat företag som uppfyller följande kriterier: 20 procent årlig tillväxt över en treårsperiod, positivt rörelseresultat, samt minst 10Mkr i omsättning i början av undersökningsperioden. Målet med undersökningen är att ta reda på hur snabbväxande företag gör då de ska rekrytera personal, t.ex. vilka rekryteringskanaler de använder och vilka kompetenser de är ute efter. Studien syftar också till att se om det finns skillnader i rekryteringsmönster mellan olika snabbväxande företag

En liten andel av det totala antalet företag, snabbväxarna, har en avgörande betydelse för nettotillväxten av nya jobb i ekonomin. Det saknas dock kunskap om hur dessa företag bedömer kompetens och kompetensutveckling, samt hur de rekryterar nya medarbetare.

Denna studie baseras på en systematisk intervjuundersökning med 126 snabbväxande företag i olika storleksklasser. Baserat på företagsinformation från PAR-databasen har vi slumpmässigt kontaktat företag som uppfyller följande kriterier: 20 procent årlig tillväxt över en treårsperiod,
positivt rörelseresultat, samt minst 10Mkr i omsättning i början av undersökningsperioden.

Målet med undersökningen är att ta reda på hur snabbväxande företag gör då de ska rekrytera personal, t.ex. vilka rekryteringskanaler de använder och vilka kompetenser de är ute efter. Studien syftar också till att se om det finns skillnader i rekryteringsmönster mellan
olika snabbväxande företag

Oi's theorem that product price-variability raises the average profit of a single product perfectly competitive firm and Tisdell's proposition that factor price-variability also raises the average profit of such a firm are generalised in this paper to cover the case of an n-commodity firm. After reviewing the results of Oi and Tisdell, it is shown that price instability raises the average profit of a multiple commodity perfectly competitive firm. The earlier contributions by Oi and Tisdell rely on the partial approach whereas in this paper the effect of price instability is considered within a general equilibrium framework. The theory presented in this paper allows for interdependence in production and for the variability of the prices of a number of factors and products.

The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of the competition between products. Applying a preferential attachment mechanism for firms the theory allows to establish the size distribution of products and firms. Also established are the growth rate and price distribution of consumer goods. Taking into account the characteristic property of human activities to occur in bursts, the model allows also an explanation of the size-variance relationship of the growth rate distribution of products and firms. Further the product life cycle, the learning (experience) curve and the market size in terms of the mean number of firms that can survive in a market are derived. The model also suggests the existence of an invariant of a market as the ratio of total profit to total revenue. The relationship between a neo-classic and an evolutionary view of a market is discussed. The comparison with empirical investigations suggests that the theory is able to describe the main stylized facts concerning the size and growth of firms.