Economic Performance Of Enterprises Research Articles

An Empirical Study on the Relationship between Green Supplier Development and Firm Performance

Suppliers have important influence to the enterprise in terms of product and service cost, quality and delivery. Enterprises need to implement supplier development to improve suppliers’ supply capabilities, and promote partnership with suppliers, so as to achieve the improvement of business efficiency. This paper defines green supplier development, divides them into direct green supplier development and indirect green supplier development, and puts forward the research hypothesis of the relationship between green supplier development and supplier relationship and firm performance. Then, using the method of questionnaire survey to collect data, according to the statistical analysis of the 259 questionnaires, the results show that the first, direct green supplier development has positive influence on the economic performance and environmental performance, but the influence of indirect green supplier development on the economic performance of enterprises is not significant. Second, supplier partnership plays a role in the influence of green supplier development on the economic performance and environmental performance.

Оценка влияния факторов на финансовые результаты деятельности промышленных компаний России с учетом государственной поддержки отраслевой экономики

Инна Николаевна Рыкова - Научно-Исследовательский университет "Высшая школа экономики". 
 Электронная почта: rycova@yandex.ru
 Денис Владимирович Кораблев - Научно-Исследовательский университет "Высшая школа экономики".
 Роман Сергеевич Губанов - Научно-Исследовательский университет "Высшая школа экономики"
 В данной статье представлены результаты эмпирического исследования влияния параметров функционирования деятельности организаций реального сектора экономики на их финансовые результаты с учетом опыта господдержки отраслей промышленности России. На основе корреляционного анализа данных об объемах отгрузки продукции, товаров, работ и услуг отечественных предприятий, сформированных за период с 2008 по 2015 год, были выявлены особенности изменения экономических результатов деятельности предприятий в разрезе видов деятельности.Определение степени влияния факторов на выручку, себестоимость и корпоративную прибыль является одной из наиболее сложных задач в процессе управления финансовыми результатами. Можно выделить ряд наиболее весомых факторов, учет которых позволит решить данную задачу: размер краткосрочных и долгосрочных займов и кредитов, сумма капитала и резервов, величина дебиторской задолженности организаций, состав себестоимости выпускаемой продукции, стоимость активов.Актуальность данного исследования заключается в том, что в процессе формирования финансовых результатов организаций реального сектора экономики необходимо изучить не только влияние собственного капитала и привлеченных средств из внешних источников финансирования, но и особенности государственной поддержки отдельных отраслей промышленности: машиностроения, автомобилестроения, авиационной промышленности, металлургии, лесопромышленного комплекса, текстильной промышленности.Цель данной статьи заключается в определении факторов, влияющих на себестоимость, выручку, прибыль и иные финансовые результаты организаций промышленности России с учетом эффективности господдержки ведущих отраслей экономики.

CHARACTERISTICS OF MODERN MODELS AND SYSTEMS OF MANAGEMENT BY FINANCIAL AND ECONOMIC PERFORMANCE OF ENTERPRISES

The article discusses and analyzes models and systems of management by financial and economic performance of enterprises in modern conditions of market economy. Such performance management concepts as spiral management model, management based on the organization of responsibility centers, the system of cost management, value-oriented management, the method of control that takes into account the life cycle of the organization and so on are investigated. The management by financial and economic performance of enterprises allows to use powerful set of instruments of modern systems and models of management, which use acquired experience and introduce principally new components into management system. Therefore the use of analyzed concepts of performance management is an effective means to achieve the mission and aims of enterprise activities.

Corporate sustainability and economic performance in small and medium sized enterprises

Various studies have investigated drivers of corporate sustainability, however only a few attempts have been made to link corporate sustainability and economic performance of enterprises by measuring labour productivity in new European Union member states that have transitioned from socialism. This paper analyses the link between corporate sustainability and economic performance, by simultaneously using the following control variables: human capital, the innovation process, leadership, and European Union policy for small and medium sized enterprises. Findings from a sample of 645 Slovenian small and medium sized enterprises reveal that the corporate sustainability and economic performance of enterprises represent complementary performances. Thus, enterprises should constantly balance their economic performance with social responsibility and environmental protection to maintain successful sustainable operations in the highly competitive markets. It was also shown that leadership has a significant positive effect on corporate sustainability. Additionally, leadership should create a favourable and collaborative environment for the innovation process and invest in human capital. Human capital causes innovation, which has a significant positive influence on corporate sustainability, which in turn has an effect on the economic performance of enterprises. Small and medium sized enterprises could improve corporate sustainability also by familiarising themselves with European Union policy support mechanisms that target their growth, development and competitiveness. The findings helped to develop an original structural equation model on simultaneous causalities between corporate sustainability and economic performance with selected control variables.

Customer order fulfilment in mass customisation context - an agent-based approach

The ever increasing customer specific needs require suitable strategies to accommodate his requirements and deliver exactly what he wants and in due course. Mass customisation, as a successor of mass production is one of these strategies, it aims at satisfying customer needs with near mass production efficiency. However, achieving efficiency is challenged by several issues such as customer order fulfilment in a customisation environment. In fact, product variety induced by customer choices requires flexible production systems able to manage internal complexity caused by such external variety. This paper proposes a multi-agent-based model to manage customer orders by: 1) defining production requirements of each order; 2) simulating the execution of the production and delivery operations. It then illustrates the proposed model with a case study and investigates the impact of inventory management on the enterprise economic performance. The case study shows how the model supports the decision-making process with respect to customer order fulfilment.

Internationalisation and Economic Performance of Enterprises: Evidence from Polish Firm‐level Data

AbstractThis article provides evidence on the relative performance of internationalised firms using Polish firm‐level data, spanning the period 1996–2005 and covering all medium and large enterprises. We distinguish between three modes of internationalisation: foreign direct investment, exporting and importing of capital goods. Our results point strongly at the superior performance of foreign affiliates vs domestic firms, exporters vs non‐exporters, and importers vs non‐importers: internationalised firms are larger, more capital intensive, pay higher wages and are more productive than purely domestic firms. Foreign ownership is the strongest factor accounting for gains from internationalisation. The premia from exporting are substantially lower, though also significantly positive. The performance of capital goods importers is also higher compared to non‐importers and is to some extent related to their involvement in other types of international activity. The results are robust to the choice of specification and productivity estimator. The analysed enterprises recorded a sizeable and broad‐based productivity improvement over the period under consideration. Not only the initial levels of productivity of exporters, importers and foreign affiliates were on average significantly higher that those of their non‐internationalised counterparts, but they also recorded faster productivity gains (manifested in increasing productivity premia), so that the discrepancies grew even larger. We also perform the analysis of productivity spillovers from internationalised firms onto own, downstream and upstream sectors. We find evidence of significant horizontal and backward spillovers from all three types of international activity. Our results suggest that trade externalities are rather of a horizontal nature, while those related to foreign direct investment operate mainly via backward linkages.

Secondary Privatization in Slovenia: Evolution of Ownership Structure and Company Performance Following Mass Privatization

This volume contains the output of country research undertaken in Slovenia in 2000-2001 by a team directed by Andreja Bohm and Marko Simoneti under the international comparative project Secondary Privatization: the Evolution of Ownership Structures of Privatized Enterprises. The project was supported by the European Union's Phare ACE* Programme 1997 (project P97-8201 R) and was coordinated by Barbara Blaszczyk from the Center for Social and Economic Research (CASE) in Warsaw, Poland. The Slovenian research was additionally co-financed by the research grant received by Central and Eastern European Privatization Network from the Ministry of Science and Technology, Republic of Slovenia (V5-9140-98).The support of the ACE Programme made it possible to organize the cooperation of an international group of scholars (from the Czech Republic, France, Poland, Slovenia and the U.K.). The entire project was devoted to the investigation of secondary ownership changes in enterprises privatized in special privatization schemes (i.e., mass privatization schemes and MEBOs**) in three Central European countries - the Czech Republic, Poland and Slovenia. Through a combination of different research methods, such as secondary analysis of previous research, analysis of legal and other regulatory instruments, original field research, statistical data base research and econometric analysis of individual enterprise data, the project aimed to investigate the scope, pace and trends in secondary ownership changes, the factors and barriers affecting them and the degree of ownership concentration resulting from them.In presenting a clear picture of secondary privatization trends in Slovenia, the authors of this volume tried to evaluate the effectiveness of various privatization schemes in terms of their open-endedness (i.e., the degree to which they foster flexibility in adjustments of ownership structures) and in terms of achieving good corporate governance. Additionally, they formulate and examine hypotheses concerning the relationships between changes in the economic performance of enterprises and post-privatization changes in their ownership structures.This report also includes a set of recommendations concerning necessary changes in the regulations and policies governing privatization and capital markets in Slovenia, designed to foster the development of privatized enterprises and to meet the requirements of the process of accession to the European Union. We hope that the results of this research will be of great interest for everyone interested in the little-researched question of what has happened to companies after privatizationin transition countries.

Internationalization and Economic Performance of Enterprises: Evidence from Firm-Level Data

This paper provides evidence on the relative performance of internationalized firms using Polish firm-level data spanning over the period of 1996-2005. We distinguish between three modes of internationalization: foreign direct investment, exporting and importing of capital goods. Our results point strongly at superior performance of foreign affiliates vs. domestic firms, exporters vs. non-exporters and importers vs. non-importers. There seem to be important learning effects associated with becoming a foreign affiliate or an exporter. We also find evidence for significant horizontal and backward productivity spillovers from all three types of international activity.

The use of accounting information systems in the evaluation of environmental costs: a cost–benefit analysis model proposal

The increasing pressures in the environment and the environmental social awareness have produced the need for studying interactions between the sectors of the economy and the environment. For a more comprehensive evaluation of sustainability and growth, the field of financial accounting needs to be expanded in order to comprise the use of natural resources and losses in the production process. The paper examines and proposes the cost–benefit analysis model as a useful estimation method of environmental revenues and costs incurred in Greece. These revenues and costs will appear in the profit and loss account statement. Environmental tax is an important cost for all industries with sustainable growth. Taxes are imposed on the natural units, which have a determined negative effect on the environment. Moreover, this paper examines the inherent interaction between the environment and the economic performance of enterprises by adopting environmental management and information green accounting systems. Copyright © 2006 John Wiley & Sons, Ltd.

A study on the impact of environmental management system (EMS) certification towards firms' performance in Malaysia

PurposeTo investigate the impact of EMS certification on the performance of firms, including economic and environmental aspects and perceived customer satisfaction.Design/methodology/approachThe purpose of this study is hypotheses testing in order to explain the variance in the dependent variable (firms' performance in terms of economic and environmental aspects) by establishing the nature of the relationship between the dependent variable and the independent variables through the testing of the hypotheses.FindingsThe results reveal that certification impacts positively on both the environmental and economic performance of enterprises. Respondents perceived “enhanced corporate image” to be the strongest impact of certification, and they believe that the benefits obtained from EMS certification far outweigh the cost of its implementation.Research limitations/implicationsThe study only surveyed ISO 14001‐certified firms. Future research should include non‐certified firms.Practical implicationsTo improve the quality of the environment there needs to be a partnership between government, businesses and the community.Originality/valueISO 14001 certification has a positive impact on firms' performance, specifically on perceived economic impact, perceived environmental impact and perceived customer satisfaction. By failing to perceive a marketing opportunity from using this well‐known standard, firms can lose market share.

Defence Industry Transformation in Russia: Evidence from a Longitudinal Survey

The article is devoted to the new phenomena in the market transformation of the Russian defence-industrial complex. Based on the data generated by the repeated survey of the CEOs (general directors) of defence enterprises in 1995‐99, it examines economic performance of enterprises, their conflicts with the government and efforts at internal restructuring brought about by reductions of Russia's defence spending, mass privatisation and opening up of the domestic market. We found that despite the dramatic reduction in defence orders, inconsistent government policies and extremely unfavourable macroeconomic environment, the Russian defence industry has made significant progress in its adjustment to the market. Even before the devaluation of the ruble in the autumn of 1998 economic performance of defence enterprises had been gradually improving; it entered a virtual boom since then. Contrary to widely held views, the painful experience of the 1990s has not made the top managers of the defence industry more hostile to reforms: at the end of the decade they were generally more supportive of the market than in 1995.