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This paper proposes a two-dimensional conceptual model of inter-industry competitive pressure, which is constituted of resource competition and market competition. This paper also provides the related measurement method and some basic properties based on the perspective of input–output analysis. Empirical research in the U.S. clearly shows that these pressures obey a lognormal distribution with a power-law tail, and the proportions of the two-dimensional competitive components follow a normal distribution. This analytical framework can be used to explore the structural nature, statistical characteristics and evolutionary mechanism of the regional industrial competition system and provides some decision support for industry competition policies.

This paper enriches the misallocation literature by identifying the role of marketization based on China’s manufacturing database. We find that when the effect of misallocation on TFP dispersion is larger than that of market competition, the TFP dispersion of private enterprises tends to increase, misallocation decreases and market competition increases. However, as the dispersion of state-owned enterprises in China decreases, misallocation and market competition both increase.

We consider a stochastic game-theoretic model of an investment market in continuous time with short-lived assets and study strategies, called survival, which guarantee that the relative wealth of an investor who uses such a strategy remains bounded away from zero. The main results consist in obtaining a sufficient condition for a strategy to be survival and showing that all survival strategies are asymptotically close to each other. It is also proved that a survival strategy allows an investor to accumulate wealth in a certain sense faster than the competitors.

In deciding how much customer information to disclose, managers face a tradeoff between the benefits of reducing information asymmetry and the losses of revealing proprietary information. This paper investigates which factors affect the level of ambiguous customer identity disclosure and whether such ambiguous disclosure affects the cost of equity capital. The empirical evidence shows that the proprietary cost is a crucial factor in ambiguous customer identity disclosure. Firms with a higher level of ambiguous customer identity disclosure generate a higher cost of equity capital. Moreover, the higher cost of equity capital is concentrated among firms under imperfect market competition.

We examine the effect of dual-class shares on U.S. firm innovation after the exogenous shock of the 1994 North American Free Trade Agreement (NAFTA), which intensified international competition. Using difference-in-differences models, we find that dual-class structure firms become less innovative but improve operating efficiency following NAFTA. We show that dual-class firms in many manufacturing industries reduce innovation, but marginally increase capital expenditures after the agreement, and thus substitute risky innovation with safer, long-term investments. The findings indicate that firms with dual-class structures facing lower competition decrease their stock market related innovation activities. We find that dual-class firms with entrenched managers decrease innovation and improve operating efficiency following NAFTA. Based on the robust results, agency costs and managerial entrenchment could explain these changes in innovations, efficiency, and investments.

In an era of digital economy, big data capability becomes a new approach for organisational competitive advantage in market. Products are the concentrated reflection of commercial value in market. It is crucial to clarify when and how big data capability promotes product speed-to-market. Based on the perspective of knowledge integration, we propose a model to clarify the impact of big data capability on product speed-to-market in a competitive market. Using data from 405 enterprises in China, we test our research model. We find that big data capability has positive effect on market-oriented knowledge integration (MOKI) and product speed-to-market, respectively. MOKI partly mediates the relationship between big data capability and product speed-to-market. In addition, the findings also indicate that market competition moderates the indirect effect. The results of this paper provide specific managerial guidelines as to how to apply big data to improve speed-to-market.

This study investigates the relationships between Green Financial Management (GFM), Green Operational Practices (GOP), and Financial Performance (FP) within Indonesian firms, offering new insights into the strategic importance of sustainability in financial management. We conducted a multivariate analysis of data obtained from a sample of 256 firms in Indonesia. The results reveal a significant positive association between GFM and GOP and a subsequent improvement in FP. Moreover, our study finds that the Regulatory Environment (RE) and Market Competition (MC) play moderating roles in the GFM–GOP relationship. In contrast, the GOP serves as a mediator between GFM and FP. Despite various limitations, this research offers crucial empirical support for the idea that green finance management may enhance a company’s environmental responsibility and financial success. The report also identifies areas for further investigation, emphasising how crucial sustainability is to corporate strategy planning.

This paper examines the impacts of foreign direct investment for the case of China. We focus on the following two main effects that have important impacts on the productivity of factors in the industries: technology spillover and market competition. Technology spillovers, both within the sectors and across sectors from foreign firms to domestic firms, help improve the domestic firms' production, while the inflow of foreign firms tend to drive domestic less productive and smaller firms out of the industries. The departure of these local firms will raise the average firm sizes, affecting the factor productivity of the sectors. Using data of 27 industries in China from 2001 and 2006, we found evidence of within-sector and across-sector technology spillovers. The results also suggest the presence of market competition effects, which for the group of Chinese industries in that period of time were negative.

We investigate how exogenous corporate governance changes in terms of anti-takeover provisions affect the innovation and market value of the firm. Consistent with our conjecture, using triple difference-in-differences models, we find that the unexpected changes in the interpretation of the case law cause a decrease in innovation for Delaware firms with classified boards, entrenched managers, and in less competitive industries. We also show that after the case rulings for Delaware firms, lower (higher) innovation activities are associated with lower (higher) market values. Our results are robust to inclusion of conventional governance measures, alternative model specifications, and different measures of innovation.

The purpose of this paper is to understand how the product market competition and the arbitrage risk affects managers’ decisions on capital structure. To find managers’ risk preference, we introduce the interaction between market competition and the arbitrage risk of the firm. Sampling from Taiwanese listed companies from 1986 to 2011, we identify both the market competition and the arbitrage risk affects managers’ debt decisions. In addition, we find that most managers in monopolistic firms increase debt to decrease the agency costs. However, some hold risk-averse motivation to enjoy their “quiet life”. These “quiet life” managers exist in those companies that are in non-competitive markets and that exists large idiosyncratic risk.

This study investigates the effect of market competition and development indicators on bank risk-taking behavior, capital regulation, and efficiency of banks in Asian emerging economies in light of their recent financial liberalization. Using stochastic frontier analysis (SFA) for measuring cost and profit inefficiency and regressed simultaneous equations by following the approach of generalized methods of the moment (GMM) the study covers a sample of 191 banks for the period between 2000 and 2014 in three Asian emerging economies such as Bangladesh, China, and India. The robust empirical results of GMM panel estimator reveal three core findings: first, intense competition of Asian banks has a positive association with risk-taking but has a negative correlation with regulatory capital and inefficiency. Second, it provides evidence that in economic progression, sample banks having a strong tendency of taking the risk. But no significant relationship found between GDP growth and capital, and GDP growth and inefficiency. This paper thus provides compelling insights to the policy makers and bank managers in setting appropriate strategy for a financial institution in the region.

The global crisis and increased competition have become increasingly essential issues in the risk and capital concern of banks. This study delves the effect of development indicators and market competition over the Asian banking industry. The robust generalized methods of moments (GMM) and two-stage least square (TSLS) estimated results of 191 Asian banks for 2000–2014 depict the significant impact of development indicators and competition over risk and capital of Asian banks. The findings of the study also show the substantial positive effect of inflations in regulatory capital, whereas the risk of banks is significantly reduced in the economic progression. Increase risk level act as a striking force of capital escalation which is consistent with the Basel accord and capitalized banks provokes managerial efficiency in managing risk than low capitalized counterparts.

Based on the CSMAR database, multiple linear regression models were constructed, which selected a sample of A-share listed agricultural enterprises data from 2011 to 2019, and the data were analyzed and processed by Stata software. The relationship between board independence, market competition, and the growth of agricultural enterprises was examined, and the interactive effects of market competition and board independence on that were discussed. The results showed that both market competition and board independence had a positive effect on the growth of agricultural enterprises, and the effect was an alternative. The study may provide a beneficial reference to the growth and governance of agricultural enterprises.