Globalization and firm growth: does ownership matter?
- PDF / 600,143 Bytes
- 19 Pages / 547.087 x 737.008 pts Page_size
- 3 Downloads / 266 Views
Globalization and firm growth: does ownership matter? Chih-Hai Yang
&
Meng-Wen Tsou
Accepted: 27 March 2019 # Springer Science+Business Media, LLC, part of Springer Nature 2019
Abstract This study explores the determinants of firm growth in China. In this era of liberalization and globalization, investigating how firms’ size, age, exports, and foreign ownership jointly influence firm growth is essential. Based on a nationally representative firm-level panel dataset for the 2001–2007 period, our results reveal that exporters and foreign-owned enterprises (FOEs) exhibit higher growth rates than their respective counterparts. Crucially, small exporters experience higher growth than larger exporters, whereas large FOEs grow faster than their smaller counterparts. The role of export premiums in enhancing growth is observed for firms of all sizes and age groups, and the positive influence of foreign ownership on growth is only evident for small, medium, and young firms. Finally, we find that domestic firms, particularly small and young local firms, enjoy a larger export premium than FOEs.
Keywords Firm growth . Export . Ownership
JEL classifications D22 . F23 . F66 . L25 . L26 C.
Data Loading...
