How does warfare affect firms' productivity?

Jola‐Sanchez, Andres F.

doi:10.1111/poms.13658

Cited by 9 publications

(2 citation statements)

References 64 publications

(151 reference statements)

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“…The TFP in these two methods is denoted as TFP_LP and TFP_OP , respectively. Both methods are widely used in economics and management literature to calculate firm productivity levels (e.g., Liu and Mao, 2019; Jola-Sanchez, 2022). Briefly, both methods are introduced by considering a Cobb–Douglas production function, as presented below:…”

Section: Methodsmentioning

confidence: 99%

Employee stock ownership plans and firm productivity in China

Lin

Huang

2022

Econ. labour relat. rev.

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A growing number of Chinese firms motivate their employees through employee stock ownership plans (ESOPs). Using a sample of listed firms in China, this paper examines the impact of ESOPs on firms’ total factor productivity (TFP), as well as the mechanisms of ESOPs. The empirical results show that ESOPs have a positive impact on firm TFP. The mechanism tests convey that ESOPs increase firm TFP by promoting research and development (R&D) investment and mitigating agency costs. These results are robust after accounting for endogeneity and using alternative metrics of TFP. In addition, we find that the positive effect of ESOPs on firm TFP is more pronounced in non-state-owned firms and firms with a less severe free-riding problem. Furthermore, the effect on firm TFP is positively associated with the subscription proportion of non-executive employees in ESOPs. Overall, the results of this study underscore the important role of employee ownership in firms’ productivity improvement. JEL Codes: D24, G30, J33

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Section: Methodsmentioning

confidence: 99%

Employee stock ownership plans and firm productivity in China

Lin

Huang

2022

Econ. labour relat. rev.

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“…This line of work has focused on two aspects of OM during major crises. The first examines how disasters affect small business operations, such as operational performance and supply chain capacity (e.g., Hendricks et al, 2020;Jola Sanchez, 2022). In a study particularly relevant to our theme, Alekseev et al (2023) studied small businesses during the COVID-19 pandemic and found that they faced financial challenges and had limited access to funding.…”

Section: Disaster Management and Small Businessesmentioning

confidence: 99%

Crowdlending Behaviors in the Aftermath of a Crisis: Evidence From a Natural Experiment

Wang,

Yang,

Karamshetty

et al. 2024

Production and Operations Management

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Natural disasters and disease outbreaks cause substantial social turbulence and economic damage. The survival and continued operation of local small businesses and entrepreneurs are critical to the development activities in post-disaster recovery. However, these small businesses and entrepreneurs face greater challenges in accessing funding through traditional channels during a crisis. Crowdlending, also known as peer-to-peer microfinancing, has been successfully used to bypass traditional channels and raise funds directly from crowd lenders. However, it is unclear if such platforms can also be effectively used in the aftermath of crises, given that disasters induce both prosocial motivations and risk considerations in lender responses. To understand the operational implications of crowdlending for small businesses, we examine how crowdlenders respond to loan requests during a crisis and what factors moderate their responses. Drawing on the literature on disaster management and crowdlending, we hypothesize that lenders respond positively to loan requests from crisis-affected areas, and such responses are moderated by fundraising objectives and the lender's national culture. With observational data from an influential crowdlending platform and the 2014 Ebola outbreak as the treatment in a natural experiment design, we find that, on average, lenders respond positively to loan requests from crisis-affected areas, and they tend to favor loan requests emphasizing economic rather than social objectives. Furthermore, lenders from collectivistic cultures are more likely to respond positively during a crisis than lenders from individualistic ones. Our study contributes to research and practice in disaster management, particularly small business operations management during crises, by showing that crowdlending can be a useful fundraising channel for small businesses, which is meaningful for post-disaster economic development and recovery. We also offer implications for the recent conversation on the coronavirus disease 2019 (COVID-19) pandemic by analyzing and discussing the similarities and differences between the Ebola outbreak and the COVID-19 pandemic.

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Public utility obstacles and labor productivity growth: The moderating effect of national culture

Jiang,

He,

Liu

et al. 2024

J of Ops Management

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Operational challenges arising from public utility obstacles are widespread globally, leading to production disruptions, decreased sales, and escalated logistics costs, ultimately contributing to a decline in firm labor productivity growth. Despite the criticality of this issue, there is a scarcity of studies in the field of operations management that investigate factors capable of mitigating these adverse impacts. Taking power outages and transportation obstacles as pivotal examples, our study aims to examine whether national culture can moderate the impact of public utility obstacles on firm labor productivity growth. To achieve this objective, we conduct an empirical analysis using a multi‐country dataset from the World Bank Enterprises Survey, which covers detailed firm‐level information across 28 industries in 41 countries, with a total of 17,227 firm‐year observations. Our findings indicate that the detrimental effects of power outages and transportation obstacles on firm labor productivity growth are contingent on various dimensions of national culture. Specifically, cultural power distance and uncertainty avoidance would amplify the negative impact of power outages, whereas long‐term orientation would alleviate this impact. Meanwhile, individualism and masculinity can help mitigate the adverse effects of transportation obstacles. Our results provide valuable insights for managers.

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How does warfare affect firms' productivity?

Cited by 9 publications

References 64 publications

Employee stock ownership plans and firm productivity in China

Employee stock ownership plans and firm productivity in China

Crowdlending Behaviors in the Aftermath of a Crisis: Evidence From a Natural Experiment

Public utility obstacles and labor productivity growth: The moderating effect of national culture

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