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This paper examines the effect of firm size on firms' ICT adoption and productivity impact by running models for four size groups of 11,709 Vietnamese firms. The results reveal two main points. Firstly, the application of basic ICT is relatively comparable among firms of different sizes; however, there exists a considerable adoption gap in more advanced ICT solutions and employees' ICT skills between medium-large firms and micro-small firms. Secondly, although ICT applications positively impact the productivity of Vietnamese firms in the whole sample, the impact of each group of ICT applications varies among firms of different sizes. Basic ICT applications can increase the productivity of micro firms while they cannot do the same for larger firms. In contrast, the application of sophisticated software solutions and employees' ICT skills can push productivity for medium and large firms while having an insignificant impact on micro and small ones. Models running for a sub-sample of manufacturing firms confirm the results. These results provide implications for business executives and policymakers who regard the digital economy as a strategy for economic development. [ABSTRACT FROM AUTHOR]

This article investigates the impact of airports on the surrounding landside industrial development by employing secondary data of nine major Australian airports captured from Google Maps using MapQuery. Previous studies suggest a strong connection between airports and economic development at the regional scale. However, few studies explore this link around the surrounding vicinity of the airport. This article provides new evidence on the link between airports and the local economy in the Australian context. The empirical results demonstrate that the size of landside industries is highly correlated with both airports' passenger numbers and international air freight volume at the correlation coefficient of 0.912 and 0.871. Service sectors account for over 50 percent in the landside industries of most airports indicating a tendency of diversified and service-oriented landside development, which implies that airports are drivers of economic restructuring. The evidence confirms that airports have a positive impact on landside industrial development around airports, which align with the findings within this strand of airport literature. [ABSTRACT FROM AUTHOR]

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]

This paper examines the effectiveness of state economic development incentive programs in stimulating new business activity. It reviews literature that identifies factors that potentially influence the effectiveness of incentives. Empirical work draws on a 2018 survey of approximately 150 firms that received at least one award for startup, expansion, or relocation purposes during the period SFY2010–SFY2016 from a state economic development incentive program (i.e., grant, tax credit, loan, equity investment) offered by the Commonwealth of Virginia. The paper evaluates the role of program design features (e.g., discretionary vs. automatic, relative size of incentive), firm characteristics (e.g., size of firm, industry), and locational variables (e.g., state boundary location, rurality) on firm assessments of the role of incentives in business growth decisions. It finds that firms that receive up‐front or discretionary program awards and undertake multistate site searches are less likely to report that the incentive was not needed for their project to succeed. These results suggest that automatic, back‐loaded award programs, and programs that fund noncompetitive projects are less likely to affect firm location and expansion decisions. [ABSTRACT FROM AUTHOR]

Highlights • The paper employs newly constructed structural reform indexes that focus on reforms "genuinely" implemented. • Reforms under consideration increase productivity growth, with real sector reforms having the most sizeable effects. • The pace of reforms matters since being a "strong reformer" is associated with clear productivity dividends. • The relationship between reforms and productivity is nonlinear and shaped by certain firms' characteristics. • There are complementary effects between reforms except for trade and financial reforms. Abstract This paper assesses the effects of selected structural reforms on labor productivity growth for 37 developing countries over the 2006–14 period. It combines newly constructed reform indexes using the IMF Monitoring of Fund Arrangements dataset and firm-level productivity from the World Bank Enterprise Surveys. The paper highlights the following results. Structural reforms under consideration in this study, i.e., financial, fiscal, real sector, and trade reforms, significantly improve productivity at the firm level. Interestingly, real sector reforms have the most sizeable effects on firms' productivity. The relationship between reforms and productivity is nonlinear and shaped by certain firms' characteristics, including financial access, a distortionary environment, and firms' size. The pace of reforms matters since being a "strong reformer" is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all macroeconomic reforms considered are bilaterally complementary in improving firms' productivity. The findings are robust to several sensitivity checks including alternatives measure of productivity, and a counterfactual experiment based on unsuccessful reforms. [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]

Entrepreneurship is considered to be one of the most important engines of growth, and its determinants are widely investigated. Several theories of entrepreneurship have been proposed and tested in the literature, most of them focusing on 'hard factors,' i.e., determinants related to the quality/quantity of inputs and to the size of the market. In this paper, I investigate how the interaction between hard and soft factors may shape the entrepreneurial behavior of individuals. In particular, the aim of the paper is to explore the links among the structure of the family, land inequality at the beginning of the twentieth century, and subsequent entrepreneurship in Italian provinces. Using a novel data set on the Gini coefficient of land inequality in 1931, sharecropping in 1911, and the classification of family structures in 1950, I test their relevance to explaining entrepreneurship. I find that high land concentration with strong family ties reduces the probability of becoming an entrepreneur. Furthermore, the diffusion of sharecropping contracts is associated with higher entrepreneurship rates. Taken together, these results point to a central role played by the organization of agriculture in promoting entrepreneurship. [ABSTRACT FROM AUTHOR]

ABSTRACT This paper investigates the role of the business size distribution on income and employment growth in U.S. counties from 1990 to 2000. We measure the business size distribution as the share of employees across nine establishment size categories that range from microfirms (one to four employees) to large firms (1,000+ employees) and using three indices similar to a Gini coefficient. Results show that the business size distribution has a significant impact on county-level growth patterns. Employment shares in small firms increase employment growth, but decrease income growth. One possible conclusion suggests policies emphasizing small firms and entrepreneurship during times of high unemployment. [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.

Abstract: We approach the size distribution of business firms by proposing an analogy of the firms’ ranking with a boson gas, identifying the annual revenue of the firms with energy. We found that Bose–Einstein statistics fits very well to the empirical cumulative distribution function for the firms’ ranking for different countries. The fitted values for the temperature-like parameter are compared between countries and with an index of economic development, and we found that our results support the hypothesis that the temperature of the economy can be associated with the level of economic development of a country. Moreover, for most of the countries the value obtained for the fugacity-like parameter is close to 1, suggesting that the analogy could correspond to a photon gas in which the number of particles is not conserved; this is indeed the case for real-world firms’ dynamics, where new firms arrive in the economy and other firms disappear, either by merging with others or through bankruptcy. [Copyright &y& Elsevier]

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]

Companies that aim to be successful in today's intensively competitive environment have to create value in the long term. In order to create value, firms have to be managed according to this aim. Value Based Management is a management approach that accepts value creation as the firm's primary aim and determines value by taking the cost of equity into consideration. Aim of the study is to determine the Value Based Management practices of the biggest Turkish manufacturing companies. The study includes the result of a survey on implementation of Value Based Management in the biggest 500 Turkish manufacturing companies. [ABSTRACT FROM AUTHOR]

The major aim of this work is to analyze the effects of BASEL II regulations on the small and mid-sized enterprises (SME) in Turkey. It is accepted that there are still various shortcomings of BASEL II implementation regarding the corporate governance (CG) and regulations in Turkish economy. The companies which are classified as SME and quoted to KOSGEB, i.e. a governmental organization supporting SMEs, are used in the empirical work. The empirical findings are discussed and compared with the major findings from other countries in the literature and also recommendations are made regarding BASEL II implementation and its effects on corporate governance and economic growth in Turkey. [ABSTRACT FROM AUTHOR]

The article focuses on the fast growing firms and examines its contribution firms to national economic growth as well the evolution of the Russian economy. It presents a research about the competition in Russia carried out at the Financial Academy under the Government of the Russian Federation. It examined several industries that was regarded as models from the view of the intensity of the competition process and icon firms in various lines of business. Also provided are the analysis regarding the activities of more than 50 most successful firms from other economic sectors. A chart is given depicting the biological analogies of evolutionary processes in the Russian economy.

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.

Discusses the financing conditions and institutional failure of small and medium-sized enterprises (SME) in China's transition from a planned economy to a socialist market economy. Comparison of laws and regulations that provide different implicit and explicit definitions of small business in the U.S. and China; Characteristics of SME in China; Contributions of such businesses to the improvement of the rate of employment and economic growth of the country; Challenges of the development of SME in the region.

The article focuses on the relation between vocational education and small and medium scale enterprises in solving unemployment and developing the economy in Nigeria. According to the author, the businesses are important in the nation because they create opportunities in the market, help in speeding up urbanisation of rural areas, and increase the balance of payment. It is also inferred that the education is vital in the businesses because it prepares young individuals for employment in the world of work by exposing them to job specifics and employability skills. He recommended the integration of both entrepreneurship and vocational education to provide opportunities to students to access their own attitudes, aptitudes and skills that are necessary for developing and running a business.