...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>International journal of production economics >Endogenous efficiency of the dynamic profit maximization in the intertemporal production models of venture behavior
【24h】

Endogenous efficiency of the dynamic profit maximization in the intertemporal production models of venture behavior

机译：Endogenous efficiency of the dynamic profit maximization in the intertemporal production models of venture behavior

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相关主题

摘要

How do ventures manage adjustment costs, input elasticities, and productivity growth? We draw on the intertemporal production decisions of ventures that are quasi-fixed, costly to adjust, and endogenous. Using a modified version of the Bayesian Exponentially Tilted Empirical Likelihood (BETEL) method adjusted for the presence of dynamic latent variables, the proposed moment-based multiple-equation estimation system incorporates dynamic and static optimality conditions derived from a firm's expected intertemporal profit maximization. Using reliable tax information data from a sample of 72,035 Portuguese ventures founded between 2010 and 2017, we find that the most important inputs are labor, equity, and inventories. However, the technical change is small, as is productivity growth. Ventures have a high degree of labor input elasticity but much lower elasticities for equity, inventories, capital, and advertising. The findings provide an understanding of the intertemporal behavior of ventures in managing adjustment costs, input elasticities, and productivity growth where adjustments to efficiency are “cheaper” than adjustments to capital. Labor elasticity is the highest, and productivity growth is very small.

著录项

获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号