Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...

Purpose: This study sought to establish the effect of strategic resources on performance of small and medium manufacturing enterprises. Specifically, the study sought to identify how financial resources, human resources, physical resources and intellectual capital affect performance of small and...

Due to an anti-failure bias, theoretical and practical studies have not focused much on the problem of innovation failure. The literature does not include studies on how the effect of re-innovation input on firm performance can still be explained by existing theories, especially in the case of...

We study the impact of COVID-19 on firm performance. Using financial accounts of a large number of German firms, we document that industry affiliation is an important economic dimension of the crisis. Motivated by this fact, we analyze an important industry-specific regulation, system relevance,...

Despite a conventional wisdom that female board members positively impact firm performance, a thorough examination of the research to date reveals no consensus that female board members have either a positive or negative effect on firm performance. We build the largest dataset of Australian...

Combining a rich database on natural hazards, granular flood risk maps and detailed information on firm geolocalisation, we study the dynamic impacts of floods on European manufacturing firms during the period 2007-2018. We find that water damages significantly and persistently worsen firm...

We investigate how the arrival and expansion of mobile network access in Uganda influences firm tax behaviour. Access to mobile technologies could broaden government revenues from corporate income tax through the extensive margin: by reducing the costs of formalization, it could increase the...

We analyse the risk of mafia capture of firms operating in the legal economy. Specifically, we study the relationship between firm performance and mafia infiltration. To overcome possible endogeneity concerns we exploit the abrupt drop in revenues caused by the (unexpected) Covid-19 related...

This study assessed how utilizing free trade agreements (FTAs) in imports affects the performance of Philippine manufacturing firms. It utilized recent developments in differencesin-differences (DID) estimation with multiple time periods and variation in treatment timing. This DID method was...