Business Panel Research Articles

The German Business Panel: Firm-Level Data for Accounting and Taxation Research

ABSTRACT The German Business Panel (GBP) periodically surveys key decision-makers via a large sample of companies in Germany. The survey questions investigate managers’ accounting and taxation choices as well as the expected and perceived outcomes of those decisions. To obtain causal evidence, the survey supports the use of randomized survey experiments. The evidence from the GBP can meaningfully advance our understanding of issues that require data on internal processes as well as expectations, perceptions, and objectives behind ex-post reported accounting figures. The target population comprises the universe of legal entities included in the official German Statistical Business Register. We show that the dominance of small and medium-sized entities is a feature that Germany shares with many European countries, implying that GBP findings will be reasonably generalizable to European settings. We illustrate the usefulness of GBP data by presenting evidence from the initial waves of the GBP during the COVID-19 pandemic. The findings show how government aid programs contributed unevenly to the solvency of the most negatively affected companies, and how companies, rather than consumers, benefited from a temporary reduction of VAT rates. The paper also demonstrates how the scientific community can use the GBP data.

Measuring Growth in Ethical Discernment Among Upper-Level Accounting Students: Educational Interventions

Effective instruction produces growth in knowledge or movement of perceptions in a desirable direction. Ethics education is emphasized in accounting curricula, but measuring growth or movement is a challenge. The ARBC instrument measures student perceptions of ethical conduct using real-world vignettes. ARBC compared students in Auditing and MAcc classes to students in introductory Finance and Accounting Principles classes, benchmarked against experienced businesspeople and a reference group representing society. Perceptions of Auditing and MAcc students were far more similar to the business panel than the perceptions of the Finance and Principles students, with overall movement in desirable directions.

FamData: Database for Family Business Companies in Germany Covering Company Key Figures and Survey Data

Abstract FamData is a database covering family businesses and non-family businesses across various size classes and branches containing structural and financial information. The ifo institute assembled a business panel with executives from almost 4000 companies. In addition to the “hard” business data like turnover and number of employees, the database also includes “soft” survey data. The latter one covers information from regular – at least yearly – surveys treating topics like investment behavior, skilled labor shortage or reaction of firms during the Corona pandemic situation and the rise in energy prices observed in 2022.

경쟁강도와 시장수요의 환경불확실성 하에서 ICT투자가 제조업의 비재무적 운영성과에 미치는 영향

This study defines ICT smartization as the convergence of information, information technology, information systems, and manufacturing and production processes, and aims to identify the empirical impact of the ICT smartization on non-financial operational performance. In addition, it aims to identify environmental uncertainty and the empirical impact of ICT investment as antecedent factors that affect ICT smartization. To this end, this study utilized the business panel survey from the Korea Labor Institute. After reliability and validity analysis, multiple regression analysis and regression analysis were performed. As a result, environmental uncertainty and ICT investment had a significant effect on ICT smartization. As a result, ICT smartization had a positive effect on each operational performance. Meanwhile, as a result of the verification of the mediating effect of ICT smartization in the relationship between ICT investment and individual operating performance, it was confirmed that ICT smartization has a significant indirect mediating effect. This study theoretically confirmed the effectiveness of integrating ICT and information through ICT investment into the production process by verifying the mediating effect of ICT smartization in the relationship between ICT investment and each operational performance.

The Covid-19 pandemic and management controls

We examine how firms respond to the Covid-19 pandemic by adjusting their management controls and what the consequences are in terms of firms’ resilience to the crisis. We review literature that deals with the influence of the Covid-19 pandemic on business and investigate results from a survey conducted within a large international multi-divisional service firm and the German Business Panel. We find evidence consistent with the claim that the Covid-19 pandemic is associated with a shock to transparency and increased incentive problems. We document firms’ adjustments of their management controls in response to the Covid-19 crisis: Action controls are stronger, result controls are more flexible, and cultural controls are weaker. Regarding firms’ resilience, we provide supportive evidence that more resilient firms face a smaller shock to transparency, adjust their management controls to a smaller extent, and are associated with stronger cultural controls in terms of higher organisational trust.

The response of majority employee-owned firms during the pandemic compared to other firms

PurposeThe purpose of this study is to understand how majority employee-owned firms responded to the pandemic compared to firms that were not majority employee-owned. The Employee Ownership Foundation partnered with Rutgers University and the SSRS survey firm to survey ESOP and non-ESOP firms about their responses to the COVID-19 pandemic. A key purpose of the survey was to estimate firm-level changes in employment from mid-January to August (current employment figures were adjusted to August 5 using BLS industry employment trends). The survey also looked at other forms of adjustment and responses to the pandemic as reviewed below. The focus in this study is on the differences between firms that are majority owned by ESOPs and those that are not.Design/methodology/approachThe survey included 247 executives from ESOP Association member companies and 500 executives from an SSRS business panel constructed to be representative of US companies with 50 or more employees. The survey started on August 5 and ended on September 23, 2020.Findings(1) Majority ESOP firms had employment declines from January to August that were on average only one-fourth as large as for other firms. The difference is maintained when controlling for industry membership. (2) Majority ESOP firms were more likely to be declared “essential,” but the lower employment cutbacks among majority ESOP firms remain among essential and non-essential businesses. As essential businesses, majority ESOP firms were more likely receive Paycheck Protection Program or other government pandemic assistance, but both assistance recipients and non-recipients had lower employment cutbacks among majority ESOP firms. (3) The extent of employment cutbacks was higher for non-managers than for managers, but the manager/non-manager gap was higher among other firms than among majority ESOP firms.Research limitations/implicationsThis study supports empirical findings done previously.Practical implicationsThis study suggests to non-EO firms what they can do.Social implicationsThis study suggests strengths of EO firms.Originality/valueA very original and one-of-a-kind dataset.

Comparing relationship of quality-satisfaction models: effects of B2B value co-creation

PurposeThis paper addresses both conceptual and empirical value co-creation and relationship quality in a triadic approach for a B2B industrial context by 1) reviewing the relationship quality concept when social and economic satisfaction are addressed separately and 2) testing alternative models of relationship quality and economic satisfaction when value co-creation is introduced.Design/methodology/approachTwo alternative models are developed where relationship quality is conceptualized as a higher-order multi-dimensional construct with three sub-factors: trust, commitment and social satisfaction. Data on the B2B relationship were collected from 77 partaking firms in the Spanish Furniture Market Observatory business panel, covering the manufacturer-retailer and manufacturer-supplier relationships for control and comparison purposes.FindingsUsing PLS-SEM, results reflect that social and economic satisfaction act differently in the B2B relationship. The effect of relationship quality on economic satisfaction is greater when value co-creation is introduced as a mediating variable, although this mediation is partial. Moreover, the mediating effect is greater in the manufacturer-supplier relationship than in the manufacturer-retailer one.Originality/valueThe paper reduces the conceptual gap between value exchanges in B2C and B2B contexts. It also introduces a less-common triadic approach along the supply chain for B2B industrial relationships. Evidence is provided on the importance of social satisfaction as an affective dimension of relationship quality and on the mediating role of value co-creation between relationship quality and economic satisfaction.

The German Business Panel: Insights on Corporate Taxation and Accounting during the COVID-19 Pandemic

We introduce the German Business Panel (GBP), a novel large-scale survey of German firms. The GBP periodically surveys executives and key decision-makers in a representative sample of German firms, taking stock of their perceptions, views, and expectations. A particular focus of the survey is on the role of accounting and tax regulation for companies. We present findings from the first wave of the GBP which was in the field over the summer 2020 and addressed the consequences of the Covid-19 pandemic for companies in Germany. Relying on more than 10,000 complete responses, we disentangle how the economic impact of COVID-19 hits industries with varying intensity. We also document that state aid was insufficient for the hardest-hit firms. As a consequence, firms systematically took additional measures like cost-cutting or reducing cash outflows. The state interventions did not lead to managers expecting a substantial increase in future tax rates. We conclude by providing an outlook on how researchers can access and use the survey data for their own research questions.

Fun in the workplace: the relationship between three dimensions of fun and unwanted sexual attention

PurposeThe purpose of this study is to examine the relationship of fun in the workplace with unwanted sexual attention.Design/methodology/approachData was gathered from the responses of three Qualtrix business panels of working individuals in the USA to online surveys. Multiple regression is used to analyze these responses.FindingsThe results suggest that fun activities had the greatest impact on unwanted sexual attention while management support for fun was related to fewer instances. Obligatory attendance and holding the events on nights and weekends lead to greater unwanted sexual attention while involving non-employees is associated with less.Practical implicationsTherefore, organizations should foster a climate which encourages employees to have fun on the job and be vigilant at events to prevent sexual harassment. Unwanted sexual attention can be reduced by involving non-employees, making attendance voluntary and avoiding holding activities at nighttime and weekends.Originality/valueThis paper has an original approach in identifying contributing factors to unwanted sexual attention.

The dark side? Fun in the workplace and unwanted sexual attention

Purpose The purpose of this paper is to examine whether fun in the workplace inadvertently leads to greater incidences of unwanted sexual attention. Specifically, this research examined the relationship between three dimensions of fun and unwanted sexual attention – fun activities, coworker socializing and manager support for fun. Design/methodology/approach Multiple regression was used to analyze survey data from three Qualtrics business panels. Findings Fun activities were related to greater incidences of unwanted sexual attention, while manager support for fun was related to fewer instances. With respect to fun activities, mandatory attendance and holding the activities on nights and weekends were associated with further increased unwanted sexual attention. The presence of non-employees during activities was associated with fewer incidences. Research limitations/implications The data on fun in the workplace and unwanted sexual attention were obtained at one point in time. Future research would be valuable that obtains data collected at multiple points in time to more fully substantiate cause-and-effect relationships. Practical implications Employers may seek to foster a climate in which managers encourage employees to have fun on the job as well as one that explicitly focuses on preventing sexual harassment. Curbing unwanted sexual attention during fun activities may be facilitated by involving non-employees, refraining from holding activities at night and on weekends and keeping employee participation voluntary. Originality/value From the perspective of fun in the workplace, this research has demonstrated fun activities may have unintended, adverse consequences. From the perspective of sexual harassment, this research has identified antecedents not typically be considered to be contributing factors of unwanted sexual attention.

The Impact of Customer Orientation and Family Decision-Making Style on Family Business Performance

The purpose of this study was to investigate the relationship of certain characteristics of family business decision-making processes (customer orientation and open and negotiating family decision-making styles) to business and family goal achievement as mediated by emotions (family supportiveness). We undertook this study to better understand why certain family businesses make consistently better decisions than others, leading them to earn more money and have family members who are happier in their home lives. Decision theory undergirded the study development. The sample consisted of 277 family business owners, and the data are from the National Family Business Panel data set. Our results showed that if the business owners focused on customer satisfaction and product quality when making decisions, they tended to make more money and tended to be happier at home. If families made business decisions in open and negotiating ways, their members were happier about their decisions because they felt supported by the other family members. Furthermore, family members who felt good about the support they got from their family members in their business decision-making were also happier in their home lives in general.

Using Administrative Data to Evaluate Sampling Bias in a Business Panel Survey

Abstract We examine two sources of bias for the Bank of Italy’s panel business survey of Industrial and Services Firms: 1) the bias caused by panel attrition; and 2) the bias created by delays in the distributional data on the reference population, needed for computing the survey weights. As for the first source of bias, the estimates strongly dependent on big firms’ values are less affected by panel attrition than those representing firms’ average behavior, independent of their sizes. Positive economic results make it easier to enroll new firms in the survey, in order to replace firms dropping out because of bad economic performances. However, the economic results of new entrances become more aligned to those of the population, once they enter the sample. A very different result emerges for the second source of bias, since, when the population size is highly variable, the information delays produce a bias for the estimates influenced by the contribution of great firms, but the effect is negligible for the estimates not dependent on firm size.

Levelling the playing field for European Union agriculture: Does the Common Agricultural Policy impact homogeneously on farm productivity and efficiency?

Originally conceived as a post-war policy vehicle for ensuring agricultural self-sufficiency, the Common Agricultural Policy (CAP) has evolved into a multifunctional instrument designed to satisfy a diverse portfolio of European Union (EU) policy objectives including nature protection. Notwithstanding, whilst the CAP has become more environmental and socially responsible, it is still expected to deliver an efficient farm production system capable of competing on world markets. The current paper combines a farm business panel dataset for 98 EU territories with a Stochastic Frontier Analysis (SFA) approach, to assess the impact of four contemporary broad categories of CAP subsidy programs on efficiency and environmental sustainability. In accordance with the literature, this study more correctly defines inputs as “facilitating”, whilst following recent methodological developments, crop-subsidies are treated as an endogenous strategic variable in the production function. Comparing between two discrete time periods, further tests are conducted to examine the hypothesis of technical efficiency convergence across european territories. The results suggest that first pillar crop subsidies and pillar two environmental programs generate a disincentive effect on productivity, whilst in general, the CAP promotes technical efficiency convergence within Europe.

The Predictive Ability of Business Panel Assessments and Start-up Firm Survival

University-based incubators guide entrepreneurs through the start-up and growth process. They also create and provide many opportunities for new firms to develop their network with the business environment, get coaching assistance, and perhaps most importantly develop their business models and business plans. Within incubators, the progress of participants is often monitored by letting the participants pitch before an expert business panel. The feedback from these business panels can provide valuable input for the further development of the new ventures. However, little is known about the predictive power that business panel assessments have in predicting venture survival and growth. In this paper, we will explore the predictive ability of business panel assessments of business planning and business pitches and start-up firm survival in a university-based incubator context. We used business panelists’ assessments of 216 high tech start-ups business plans and pitches. We found that the most important predictor of success by business panel expert evaluations was the quality of the team. The attractiveness of the industry was a negative predictor of start-up firm survival.

New directions in entrepreneurship research with the Kauffman Firm Survey

Data is a fundamental impediment to a better understanding of the multifaceted process of new firm creation. With better data, we can form a better understanding of the causes, constraints, and outcomes associated with the decision to launch a new business. Towards this end, the Kauffman Foundation commissioned an eight-wave panel of businesses that were formed in 2004, chronicling a single cohort’s evolution from birth through important business milestones. This issue of Small Business Economics focuses on papers that use the Kauffman Firm Survey to examine new research questions in entrepreneurship. Articles in this issue analyze new research topics in entrepreneurship as well as shed light on enduring questions in the literature.

Household Entrepreneurship and Social Networks: Panel Data Evidence from Vietnam

Using a unique panel of household businesses for Vietnam, this paper sheds light on the links between households’ and entrepreneurs’ social networks and business performance. We address two related questions. The first question asks if we can find evidence of a differentiated effect of employment of members of the family versus hired workers on the business performance. A second question tackles the respective effects of various dimensions of social networks on business technical efficiency. The hypothesis is that, beyond the channel of labour productivity, entrepreneurs that are confronted with an unfavourable social environment may produce less efficiently and realise a lower output than what could be possible with the same amount of resources. We find evidence of a marginal productivity differential between family and hired labour and highlight results consistent with the presence of adverse social network effects faced by households running a business, in particular ethnic minorities. We also stress the importance of professional networks for successful entrepreneurship.

Household Entrepreneurship and Social Networks: Panel Data Evidence from Vietnam

Using a unique panel of household businesses for Vietnam, this paper sheds light on the links between households' and entrepreneurs' social networks and business performance. We address two related questions. One first question asks if we can find evidence of a differentiated effect of employment of members of the family versus hired workers on the business performance. A second question tackles the respective effects of various dimensions of social networks on the business technical efficiency.The hypothesis is that, beyond the channel of labour productivity, entrepreneurs that are confronted with an unfavourable social environment may produce less efficiently and realize a lower output than what could be possible with the same amount of resources. We find evidence of a marginal productivity differential between family and hired labour and highlight results consistent with the presence of adverse social network effects faced by households running a business, in particular ethnic minorities. We stress the importance of professional networks for successful entrepreneurship.

Is small the new big? Islamic banking for SMEs in Turkey

While SMEs constitute the backbone of many economies, many SMEs have limited access to finance. Yet, banks in some countries are actively financing SMEs. This paper examines whether this is true in the case of Turkey, a G20 economy that has a significant SME sector. We study the determinants of banks' willingness to finance SMEs and banks' processing ability of SME financing portfolio in Turkey based on a unique quarterly small business panel data set of 40 commercial banks from 2006 to 2014. Employing pooled OLS and fixed-effects estimators, we find that Islamic banks (known as Participation banks in Turkey) are more inclined toward financing SMEs than conventional banks. We also find that the quality of Islamic banks' SME loan portfolio is comparable to that of conventional banks. The results are fairly robust to different bank ownership forms (state owned, private, and Islamic banks) and alternative model specifications. Our findings provide further support to the notion of “small is the new big” in that banking for SMEs can be a viable venture.

Applied Survey Data Analysis Using Stata: The Kauffman Firm Survey Data

While entrepreneurial activity is an important part of our economy, data about U.S. businesses in their early years of operation have been extremely limited. Only recently has it become apparent what important contributions new and young businesses make to job creation and innovation activities. As part of an effort to understand the dynamics of new businesses in the United States, the Ewing Marion.Kauffman Foundation sponsored the Kauffman Firm Survey (KFS), a panel study of new businesses founded in 2004 that were tracked annually over their first eight years of operation. Tracking businesses over time allows us to follow business evolutions that would not be apparent in cross-sectional snapshots, the more typical collection method. The KFS dataset provides researchers with a unique opportunity to study a panel of new businesses from startup to sustainability (or exit), with longitudinal data centering on topics such as how businesses are financed; the products, services, and innovations these businesses possess and develop in their early years of existence; and the characteristics of those who own and operate them. The Kauffman Firm Survey (KFS) is currently the largest, longest longitudinal survey of new businesses in the world. Data are available through calendar year 2011, the eighth year of operations for continuing businesses. Additionally, since our panel came into existence before the most recent recession, following these businesses allows us to get a picture of how young businesses in the U.S. were affected by the crisis.We hope that you find the following chapters useful in analyzing the KFS data. Feel free to contact us with comments, suggestions, and/or questions through the KFS website.

Long-term family firm survival and growth considering owning family adaptive capacity and federal disaster assistance receipt

Natural disasters are expected to increase in number and severity. This study initiates a stream of research on effective family business strategies to address the threat of natural disasters to long-term survival and growth of family firms. The purpose of this study was to analyze the mitigating effects of the owning family's adaptive capacity and federal disaster assistance on long-term survival and growth of family firms. Data for 282 family firms in the National Family Business Panel were merged with data on federal disaster assistance from the Public Entity Risk Institute. Indicators of family adaptive capacity had both more numerous significant effects and larger effects on survival and growth than did business characteristics. Experiencing fewer negative family stressors meant a greater likelihood of remaining open from 1997 to 2007 and increasing revenue from 2000 to 2007. Consistent family leadership in times of stability and change and resource focused-management practices decreased the likelihood of survival. Family firms benefitted indirectly from federal disaster assistance to the county and directly from federal disaster assistance when a natural disaster hit their own family firms.