Firm Size, Employees and Profitability in U.S. Manufacturing Industries PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Firm Size, Employees and Profitability in U.S. Manufacturing Industries PDF full book. Access full book title Firm Size, Employees and Profitability in U.S. Manufacturing Industries by Fred R. Kaen. Download full books in PDF and EPUB format.
Author: Fred R. Kaen
Publisher:
ISBN:
Category :
Languages : en
Pages : 72
Get Book Here
Book Description
We examine the relation between profitability and size for sixty-four manufacturing industries between 1990 and 2001. We use three measures of profitability: Earnings before interest, taxes, depreciation and amortization as a percent of sales (EBITDA margin); earnings before interest and taxes as a percent of sales (EBIT margin) and EBIT as a percent of total assets (EBIT/TA). Our measure of firm size is the natural log of the number of employees.We find the following:(1) In about half of the sixty-four industries firm profitability increases at a decreasing rate and eventually declines as firms become larger.(2) For the remaining half of our manufacturing industries, no relationship exists between size and profitability.(3) For a given level of total assets, firms with fewer employees exhibit greater profitability.(4) For a given level of sales, firms with fewer employees exhibit greater profitability.Our results are consistent with theories of firm size that specify trade-offs between economies of scale and organizational costs and with theories that ascribe certain competencies to firms that allow them to offset the advantages often ascribed to large firms such as economies of scale.
Author: Fred R. Kaen
Publisher:
ISBN:
Category :
Languages : en
Pages : 72
Get Book Here
Book Description
We examine the relation between profitability and size for sixty-four manufacturing industries between 1990 and 2001. We use three measures of profitability: Earnings before interest, taxes, depreciation and amortization as a percent of sales (EBITDA margin); earnings before interest and taxes as a percent of sales (EBIT margin) and EBIT as a percent of total assets (EBIT/TA). Our measure of firm size is the natural log of the number of employees.We find the following:(1) In about half of the sixty-four industries firm profitability increases at a decreasing rate and eventually declines as firms become larger.(2) For the remaining half of our manufacturing industries, no relationship exists between size and profitability.(3) For a given level of total assets, firms with fewer employees exhibit greater profitability.(4) For a given level of sales, firms with fewer employees exhibit greater profitability.Our results are consistent with theories of firm size that specify trade-offs between economies of scale and organizational costs and with theories that ascribe certain competencies to firms that allow them to offset the advantages often ascribed to large firms such as economies of scale.
Author: Bronwyn H. Hall
Publisher:
ISBN:
Category : Industries
Languages : en
Pages : 70
Get Book Here
Book Description
Author: Andrea Ciani
Publisher: World Bank Publications
ISBN: 1464815585
Category : Business & Economics
Languages : en
Pages : 178
Get Book Here
Book Description
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
Author: Hans D. Baumann
Publisher: Morgan James Publishing
ISBN: 1614484198
Category : Business & Economics
Languages : en
Pages : 140
Get Book Here
Book Description
Hans D. Baumann, has almost fifty years of business experience analyzing the organizational structure & internal workings of hundreds of companies &, as a result, has reached some startling conclusions as to the major influences affecting their profitability. Ever wonder why large corporations become less profitable? Or, why old established companies such as General Motors & Delta Airlines seem to go out of business? Are larger companies really more efficient than their smaller brethren? What does a high price to earning ratio really tell you about the operating efficiency of a company? Is it a good idea to hold on to the shares of a company after a merger has been concluded? Does it pay to split-up a company? What is the relationship between the organization of the US Army and corporate hierarchy? Why do most business mergers fail? You will find answers to these & other questions, given in a plain & sometimes humorous manner, in the book, "Building Lean Companies: How to Keep Companies Profitable as They Grow."
Author: Herman Otto Stekler
Publisher:
ISBN: 9781258311636
Category :
Languages : en
Pages : 124
Get Book Here
Book Description
Author: Bronwyn H. Hall
Publisher:
ISBN:
Category : Industries
Languages : en
Pages : 570
Get Book Here
Book Description
Author: Alex Coad
Publisher: Edward Elgar Publishing
ISBN: 1848449100
Category : Business & Economics
Languages : en
Pages : 209
Get Book Here
Book Description
Research into firm growth has been accumulating at a terrific pace, and Alex Coad s survey of this multifaceted field provides a detailed, comprehensive overview of the latest developments. Much progress has been made in empirical research into firm growth in recent decades due to factors such as the availability of detailed longitudinal datasets, more powerful computers and new econometric techniques. This book provides an up-to-date catalogue of empirical work, as well as a coherent theoretical structure within which these new results can be interpreted and understood. It brings together a large body of recent research on firm growth from a multidisciplinary perspective, providing an up-to-date synthesis of stylized facts and empirical regularities. Numerous empirical findings and theories of firm growth are also surveyed and compared in order to evaluate their validity. Drawing on a vast and diverse body of research, this book will prove invaluable to students, academics, policy makers and practitioners with a need to keep abreast of studies in industrial organization, firm growth and management.
Author: John E. Kwoka
Publisher:
ISBN:
Category : Industries
Languages : en
Pages : 22
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Bjørn Espen Eckbo
Publisher: Elsevier
ISBN: 0080488919
Category : Business & Economics
Languages : en
Pages : 559
Get Book Here
Book Description
Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work. *The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance *Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance *The series is international in scope with contributions from field leaders the world over
