U.S. exports, which recently have been increasing, are still dominated by large firms. According to one study, only 10 percent of the total U.S. export business is conducted by…
Abstract
U.S. exports, which recently have been increasing, are still dominated by large firms. According to one study, only 10 percent of the total U.S. export business is conducted by small companies, in spite of the vast export opportunities that exist. That same study further reports that of those small firms that do export, only 6 to 7 percent of their sales are derived from overseas, as compared to 10 to 15 percent for their counterparts from Japan and Germany. This situation is especially disappointing because small‐ and mid‐sized businesses possess the very attributes that: (1) substantially contribute to the U.S. economy by generating the largest number of new jobs; and (2) portend success in the global markets because these firms produce a wide variety of goods and services, often of exceptional quality. Additionally, small‐ and mid‐sized firms have a high degree of flexibility that allow them to profitably penetrate small markets and small niches in large markets, using strategies that are difficult for large companies to implement.
The purpose of this study, based on a survey of 354 Florida companies, was to identify and assess the importance of factors that limit exports, with particular focus on the…
Abstract
The purpose of this study, based on a survey of 354 Florida companies, was to identify and assess the importance of factors that limit exports, with particular focus on the different types of export financing that were the most difficult to obtain. Statistical analysis was used to determine the significance of responses given by different sized firms. Four of the top five factors that limited the ability to export were related either to the unavailability of export financing or the lack of available information on export opportunities. Foreign buyer credit and various unsecured loans were the most difficult to obtain. Public and private policymakers should reevaluate their export promotion programs and make the changes necessary to eliminate the various obstacles to exporting.
This article reviews the empirical accuracy of various alternatives for size used in measuring corporate performance. The primary focus is to expose inherent weaknesses in…
Abstract
This article reviews the empirical accuracy of various alternatives for size used in measuring corporate performance. The primary focus is to expose inherent weaknesses in usefully interpreting these size factors. The empirical performance of a number of size alternatives which are frequently used in the management literature is then analysed. Consistent with explanations offered by Coffman (1983) and in most other financial studies, the market value of equity is identified as the most robust single measure of corporate size. However, measures of size that are based on total capitalisation and sales performance, appear to provide increasing explanatory power.