| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14285 |
| DP14285 Import Competition, Heterogeneous Preferences of Managers, and Productivity | |
| Claudia Steinwender; Cheng Chen | |
| 发表日期 | 2020-01-06 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Abstract When managers have objectives beyond maximizing monetary profits, inefficiencies may arise. An increase in competition may then force managers to improve the productivity of the firm in order to ensure survival. While this hypothesis has received ample theoretical attention, empirical evidence is scarce, mainly because preferences of managers are typically unobserved. In this paper, we exploit the fact that a large literature has documented specific non-monetary preferences of family managers. Using Spanish firm-level data, we compare how family-managed and professionally-managed firms react to import competition shocks. We find that import competition leads to productivity increases in family-managed firms that are initially unproductive. Productivity improvements are driven by family management as opposed to family ownership or non-managing family members. Furthermore, we show that these managers increase efficiency by reducing material usage, which is consistent with them trying to increase their short-term cash flow in order to survive. Finally, productivity improvements seem to be particularly pronounced in multi-generational family firms that also introduce organizational changes. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Import competition Productivity Family firms Managers |
| URL | https://cepr.org/publications/dp14285 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543177 |
| 推荐引用方式 GB/T 7714 | Claudia Steinwender,Cheng Chen. DP14285 Import Competition, Heterogeneous Preferences of Managers, and Productivity. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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