The direction of causality between exports and firm performance: microeconomic evidence from Croatia using the matching approach
| Autor: | Jurica Zrnc, Miljana Valdec |
|---|---|
| Rok vydání: | 2015 |
| Předmět: |
Estimation
Macroeconomics Matching (statistics) Cross-sectional data exports learning-by-exporting propensity score matching productivity self-selection Sample (statistics) jel:D21 jel:F14 Causality jel:F12 jel:L6 lcsh:Finance lcsh:HG1-9999 Propensity score matching jel:L25 Econometrics Economics Performance indicator Productivity |
| Zdroj: | Financial theory and practice Volume 39 Issue 1 Financial Theory and Practice, Vol 39, Iss 1, Pp 1-30 (2015) |
| ISSN: | 1845-9757 1846-887X |
| Popis: | This paper contributes to the literature by using propensity score matching to test for causal effects of starting to export on firm performance in Croatian manufacturing firm-level data. The results confirm that exporters have characteristics superior to those of non-exporters. In the main sample specification there is pervasive evidence of self-selection into export markets, meaning that firms are successful years before they become exporters. Using multiple firm performance indicators, panel and cross section data models together with various sample specifications there is scant evidence on learning-by-exporting which holds true only in a few cases. On the other hand, higher sales growth is found to be a more conclusive distinguishing characteristic of new exporters. As in similar studies, we find that a part of the results depends on the number of export starters in the estimation sample. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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