全球智库信息集成服务系统(G2TT): Import Competition, Heterogeneous Preferences of Managers, and Productivity

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w25539
来源ID	Working Paper 25539
	Import Competition, Heterogeneous Preferences of Managers, and Productivity
	Cheng Chen; Claudia Steinwender
发表日期	2019-02-11
出版年	2019
语种	英语
摘要	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.
主题	International Economics ; Trade ; Globalization and International Relations ; Development and Growth ; Innovation and R& ; D
URL	https://www.nber.org/papers/w25539
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/583212
推荐引用方式 GB/T 7714	Cheng Chen,Claudia Steinwender. Import Competition, Heterogeneous Preferences of Managers, and Productivity. 2019.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w25539.pdf（794KB）	智库出版物		限制开放	CC BY-NC-SA	浏览