Firm Characteristics and Chinese Stocks

Entrepreneurial Spawning and Firm Characteristics

We analyze the implications of entrepreneurial spawning for a variety of firm characteristics such as size, focus, profitability, and innovativeness. We examine the dynamics of spawning over time. Our model accounts for much of the empirical evidence relating to the relation between spawning and firm characteristics. Firms that have higher patent quality spawn more, as do firms that have higher...

Firm Quality and Productivity Among Chinese Exporters

In this paper we use micro data on both trade and production for a sample of large Chinese manufacturing firms in the footwear industry from 2002 − 2006 to estimate an empirical model of export demand, pricing, and market participation by destination market. We use the model to construct indexes of firm product quality, productivity, and export market capability. The empirical results indicate ...

Firm reputation and applicant pool characteristics

Scholars have suggested that a firm’s reputation can provide it with a competitive advantage by attracting more, and possibly higher-caliber, applicants. No research has actually investigated this relationship, however, in large part because researchers have not assessed applicant pool characteristics but instead have measured applicants’ intentions. Therefore, we conducted two studies to inves...

Macroeconomic Conditions , Firm Characteristics , and Credit Spreads ∗

We study a structural model that allows us to examine how credit spreads are affected by the interaction of macroeconomic conditions and firm characteristics. Unlike most other structural models, our model explicitly incorporates equilibrium macroeconomic dynamics and models a firm’s cash flow as primitive processes. Corporate securities are priced as contingent claims written on cash flows. De...

Implications of Firm Characteristics and Buyer Heterogeneity