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Previous studies in both developed and developing economies have reported that firm growth declines with firm age and size. However, review of literature showed that there are limited studies to empirically assess the validity of this fact on firm growth in developing countries. As such, this paper assesses the role of firm size and age on firm growth in KwaZulu Natal, South Africa. The study employed a unique balanced three-year panel dataset of 191 manufacturing Small Medium and Micro Enterprises (SMMEs) in the province. As expected, the results showed a negative relationship between firm growth and size especially in the short term. However, contrary to the wider body of literature, the study established a positive relationship between firm age and growth. The study also established that older firms grow faster than their younger counterparts despite their size. On the other hand, small sized firms despite their age grow faster than large firms when employment and total assets were used as measures of firm size. It was recommended that the government should be cognisant of the complexity of SMMEs when crafting various sector policies. [ABSTRACT FROM AUTHOR]

Based on the underlying Resource-Based View (RBV) perspective, the main objective of this study is to empirically examine the relationship of logistics capability and logistics performance, and the moderating effect of firm size on this relationship. This study adopted a cross-sectional design and collected quantitative data from a total of 81 logistic service providers (LSP) registered with the Federation of Malaysian Manufacturers (FMM) Directory of Malaysian Industries 2013, from three states (i.e., Kelantan, Terengganu, and Pahang) in Peninsular Malaysia. This study used the Pearson correlation and the moderated multiple regression (MMR) to test if the logistics capability has a significant positive effect on firm performance and the moderating effect of firm size on the relationship between logistics capability and firm performance. Findings of this study revealed that logistics capability has a significant positive relationship with logistics performance. Logistics service capabilities and flexible capabilities delivered by firms are vital for liner shipping services. Moreover, this relationship is significantly affected by firm size, which suggests that, in comparison, the inclusion of firm size (large vs. medium/small LSPs) in the logistics capability – logistics performance relationship has a significant moderating effect in changing the degree (volume) of performance. The moderating effect of firm size is shown to be capable of changing the nature of relationship and explains the conditions in which capability causes LSPs to perform better. The presence of a significant moderating effect of firm size (large and medium/small LSP firms) exceeded the linear relationship between logistics capability and logistics performance. The study has bridged the literature gaps in such a way that it offers empirical evidence on the moderating effect of firm size on the relationship between logistics capability and logistics performance using a Malaysian sample. In order to foster the economic development through effective logistics services, the logistics services development policies and programs should therefore focus on providing a supportive platform for logistics service providers to improve their capacities, which would ultimately lead to better performance and the sustainability of the logistics service providers in Malaysia. [ABSTRACT FROM AUTHOR]

Employing micro-data of Dutch local business units, we show that firm characteristics such as size, economic activity, the traded product portfolio, the focus of trade involvement and the geographic pattern of trade are important determinants of recovery following the trade collapse of 2008-2009, both in terms of speed and depth. Our findings suggest that post-crisis growth is faster for trade in goods further downstream of the value chain and thus closer to the final consumer. Trade recovery at the firm-level does not crucially hinge on locational factors such as the province in which a firm is located or regional revealed comparative advantages in particular product groups. [ABSTRACT FROM AUTHOR]

Crime and corruption are ubiquitous worldwide. They have long been both cause and consequence of poverty and various other societal problems around the world, especially in underdeveloped countries. Crime and corruption take different forms, existing at all levels of society and deeply affecting people's lives, from underground exchanges inside or between businesses, to judiciary or police functions and municipal or national government departments. Undermining both political and economic development, crime and corruption can worsen income polarities and harm the poorest most. Currently there are quite many studies focusing on why firms pay for briberies; however, very few studies have considered how firms deal with crime. This paper empirically studies how firms in developing economies cope with both crime and corruption. To be specific, I look into the potential determinants on why and how much worldwide firms spend on protection payments. Using a unique firm-level dataset extracted from the World Bank's Enterprise Surveys from 2006 to 2014, this paper focuses on two types of protection payments made by firms operating in developing economies: (1) open security payments, intended to avoid criminal losses exoterically, and (2) underground bribery payments, intended to meet corrupt government officials' needs secretly. Overall data on 120 developing countries were extracted, and 105,282 observations became available. I start with ordinary least squares (OLS) to estimate the determinants of how much a firm decides to pay for protection. Furthermore, to alleviate the potential simultaneity problem embedded in the OLS method, I also use probit estimation for the firms' decisions to pay. Results obtained through multiple statistical and econometric examinations suggest that firm-level characteristics such as employment size, international business connections, labor quality, and expansion experience exert profound and differentiated influence on firms' payments. Meanwhile, bureaucratic inefficiency and social instability significantly raise firms' incentive to pay. Firms that are smaller with fewer foreign business connections, lower labor quality, and defective infrastructure tend to pay, and pay more, for protection, as do those firms that have grown faster and longer. Besides, fast expansion makes firms more vulnerable to extortion, and more likely to encounter with crime and corruption. Various tests confirmed the robustness of these findings. There are several important policy implications based on these findings. First of all, governments need to enhance the quality of the society's infrastructure. This will effectively decrease firms' extra security expenditures. Also, the government must endeavor to control corruption, especially among those small and less productive firms. Enhanced supervision and auditing procedures must be developed, and create a better growth atmosphere for all firms. [ABSTRACT FROM AUTHOR]

Small enterprises are the driving force of any economy, and the engine of economic growth in both developed countries and countries in transition. One of the problems that small enterprises and entrepreneurs face is the lack of financial resources, or difficult access to them, for starting and financing the development of their entrepreneurial venture. The aim of the paper is to analyze the financing difficulties of small enterprises and entrepreneurs in the Republic of Serbia. 167 enterprises were surveyed and their responses were grouped into three groups depending on the size of an enterprise: small enterprises and entrepreneurs, medium enterprises and large enterprises so that by comparing the obtained results we could determine the differences in attitudes depending on the size of an enterprise and prove that small enterprises have limited access to financial resources. The research investigated financing constraints, financial services and approved loan conditions in relation to the size of an enterprise. The results showed statistically significant differences between small, medium and large enterprises in the majority of the observed parameters and that small enterprises and entrepreneurs have difficult access to financial resources. [ABSTRACT FROM AUTHOR]

Abstract: This paper analyzes Colombia׳s space policy: its successes, its failures and what it still needs to achieve. The paper examines the interaction among the different players, and how this policy contributes to economic and social development of the country. And postulates that, unless a real national plan of action, with specific milestones and budget as well as a managing agency are developed, this policy may be in danger of disappearing. The Colombian Space Commission (Comisión Colombiana del Espacio, or CCE) was created by Presidential Decree 2442 in 2006. It is a multi-sectorial entity, in charge of coordinating, planning, and leading in the implementation of national policies for the development and application of space technologies. The CCE was also charged with the drafting of plans and programs in this field. The CCE began with only a few members (15) and today is comprised of 47 members: 13 ministries, 4 administrative departments, another 21 governmental entities and 9 universities, the latter acting as consultants. The Vice-President of the Republic is the President of the CCE. These different actors gave great importance to the development of Colombia׳s space sector, and 6 years later, they are continuing support and development the country׳s space policy. This analysis takes into account three aspects: first, achieving the objectives of the CCE: the creation and development of a national space policy for Colombia; secondly, focussing on “target groups” and “end users”; and thirdly, the “outcomes” or achievements to date. Some conclusions are worth highlighting: first, the warm reception and support of the CCE by both the public and private sectors on high levels, but the poor knowledge of the national space policy by the Colombian people and the small and medium companies. Secondly, in the context of public policy [9], the strategic plan called “National Policy in regard to Space Activities”, is caught between two phases: the formulation and decision-making regarding the program, and its implementation. And finally, the members of the CCE do not necessarily act in accordance with a national strategy, but follow their own interests, resulting in undue influence (and perhaps interference) in the development of a coherent national space policy. In brief, the author hopes that this first analysis of Colombia׳s experience with its Space Commission will serve as an example to other developing countries that also are seeking to develop their space sector, and implement a national space policy. Further, the author hopes that this analysis will allow the various politico-administrative actors “policy makers” in Colombia, as well as the general public, to realize that, while much has been accomplished, much still remains to be done. It is essential to keep alive the interest shown in space activities; otherwise, Colombia׳s space policy may become an “endangered species”, in danger of failing and disappearing. [Copyright &y& Elsevier]

The article analyzes trends regarding big businesses in 2000s in Russia. It focuses on two fundamental institutional changes, replacement of main business entity and main ownership model. Topics discussed are the economic crises in Russia in 1998-1999, integrated business groups in Russia and economic growth and expansion in big business entities.

abstract In a seminal article, Chinitz (1961) considered the effects of industry size, structure, and economic diversification on the performance of firms and regional economies. His inquiry suggested a related but conceptually distinct issue: how does the extent to which a regional industry or industrial sector is concentrated in a small number of firms affect the local performance of that industry? The question has not been addressed systematically in empirical research other than case studies, principally because accurately measuring regional concentration requires firm-level information. This exploratory study uses confidential plant-level data to gauge concentration in manufacturing industries at the regional scale across the continental United States, to explore changes over time in geographic patterns of concentration, and to investigate associations between regional industrial structure concentration and changes in employment. The implications for understanding the impacts of regional industrial structure on economic development processes are discussed. [ABSTRACT FROM AUTHOR]

The article presents a study which examined the relationship between the medium and small enterprise (SME) sector and the economic growth in Brazil. The researchers investigated the significance of the size of the SME sector by the share of the level of human capital and SME employment measured by the mean years of schooling in the enterprises. They also assessed how employment and human capital influence the growth of the sector in the micro-regions of the country.

The paper discusses the recent trends in, and outlook for, Brazilian outward foreign direct investment (FDI). It shows that outward FDI from Brazil has declined against that from other developing countries and it analyses the prospects for recovery. A survey of the international literature reveals that outward FDI benefits both the investing firm and the home country. It is thus relevant to ask why outward FDI by Brazilian firms is so low. In answer, the article surveys the literature on Brazilian outward FDI and presents new evidence in terms of the firm (Brazilian firms are small and they prefer the home market), product (commodities are the main export), technology (low innovation rate), industry (Brazilian firms generally belong to mature or competitive sectors) and the economy (unsuitable financial system and high interest rates). [ABSTRACT FROM AUTHOR]

The article discusses the role of small and large businesses in economic growth. Analysis of the economic development role of small businesses showed that it is not the major source of job creation in terms of high-paying and stable jobs. According to the article, there is also no clear evidence that small businesses are more effective innovators than large firms. An economic development strategy's success is likely if it concentrates on the growth of existing local businesses, the author says.