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Dentre as recentes questões que emergem na pesquisa em marketing, observa-se um foco com a relevância do departamento nas organizações, os impactos dos investimentos em marketing na performance da empresa, a solução de problemas do dia a dia das organizações e uma aproximação da área com finanças. Com base nessas perspectivas, elegeu-se nesse estudo testar as relações entre investimento em comunicação de marketing e a performance financeira da empresa. Após uma revisão da literatura, se observou a necessidade de serem testadas variáveis moderadoras dessa relação, gerando a seguinte pergunta de pesquisa: “a relação entre o investimento em propaganda e a performance da empresa é moderada por variáveis de compra, ambientais e estratégicas?”. Os objetivos da pesquisa são testar, além da relação direta entre investimento em comunicação e performance da empresa, a moderação da utilização de celebridades endossantes, do grau de envolvimento com compra, do tipo de compra (hedônica vs. utilitária) e de indústrias de tecnologia (vs. não tecnológicas) nessa relação. Foram escolhidas três medidas de performance financeira, uma relacionada com o mercado (Q de Tobin) e duas operacionais (vendas totais e ROA). A base foi composta por empresas brasileiras listadas na Bovespa, totalizando 121 empresa no período de 2008-2017. Os dados são secundários, a partir das informações obtidas nos relatórios financeiros e classificados como painel. Os resultados demonstram que o mercado brasileiro valoriza o investimento em comunicação, visto o impacto dessa ferramenta no valor de Q de Tobin, quando não se considera os investimentos em celebridades. Identificou-se, ainda, que o menor envolvimento com a compra e a maior tecnologia das empresas moderam essa relação. As relações propostas não foram, em linhas gerais, suportadas para as medidas de desempenho vendas totais e ROA. A principal contribuição acadêmica desta teste é demonstrar que, ao se testar a relação entre investimento em ferramentas de comunicação de marketing e a performance da empresa, devese considerar variáveis que moderam essa relação, ou seja, o maior dispêndio com propaganda não irá impactar necessariamente a performance de forma igual para todas as empresas. Dentre as contribuições gerenciais, destaca-se que se conseguiu demonstrar em quais situações o investimento em comunicação gera ou não melhor desempenho. Uma limitação do presente estudo se relaciona à utilização de informações de empresas de capital aberto, bem como desconsiderar investimentos em outras ferramentas concomitantes à propaganda. Sugere-se que novos estudos busquem ampliar achados para empresas de capital fechado, ademais, é indicado que novas pesquisas busquem uma abordagem qualitativa com investidores para entender os motivos das relações entre propaganda e valor da firma. Among the recent emerging issues in marketing research is a focus on the relevance of the department in organizations, the impact of marketing investments on company performance, solving day-to-day organizational problems, and approximating the area with finance. Based on these perspectives, we chose in this study to test the links between investment in marketing communication and the financial performance of the company. After a review of the literature, we observed the need to test moderating variables of this relation, generating the following research question: “the relationship between advertising investment and company performance is moderated by purchasing, environmental and strategic variables?”. The objectives of the research are to test, in addition to the direct relationship between investment in communication and company performance, moderation of the use of endorsing celebrities, the degree of involvement with purchase, the type of purchase (hedonic vs utilitarian) technological industry (vs. non-technological) in this relationship. Three measures of financial performance were chosen, one related to the market (Tobin's Q) and two operational measures (total sales and ROA). The data was composed of Brazilian companies listed on Bovespa, totaling 121 companies in the period 2008-2017 . The data are secondary, based on the information obtained in the financial reports and classified as a panel. The results show that the Brazilian market values the investment in communication, considering the impact of this tool on the Tobin’s Q value, when not considering investments in celebrities. It was also identified that the less involvement with the purchase and the greater technology of the companies moderate this relation. The proposed relationships were not broadly supported for the measures of total sales performance and ROA. The main academic contribution of this test is to demonstrate that, when testing the relationship between investment in marketing communication tools and company performance, one must consider variables that moderate this relationship, i.e. the higher expenditure on advertising will not necessarily impact performance the same way for all companies. Among the management contributions, it is noteworthy that it was possible to demonstrate in which situations the investment in communication generates or not better performance. One limitation of the present study is linked to the use of publicly traded information, as well as disregarding investments in other tools concomitant with the advertisement. We suggest that new studies seek to expand findings for privately held companies and that new research seek a qualitative approach with investors to understand the reasons for the relationship between advertising and firm value.

This paper documents new facts about the joint evolution of firm performance and prices in international markets and proposes a theory of firm dynamics emphasizing the interaction between learning about demand and quality choice to explain the observed patterns. Using data from the Portuguese manufacturing sector, the paper documents that: (1) within narrow product categories, firms with longer spells of activity in export destinations tend to ship larger quantities at similar prices, thus obtaining larger export revenue; (2) older exporters tend to import more expensive inputs; and (3) revenue growth within destinations (conditional on initial size) tends to decline with market experience. The authors develop a model of endogenous input and output quality choices in a learning environment that is able to quantitatively account for these patterns. Counterfactual simulations reveal that minimum quality standards on exports reduce welfare by lowering entry in export markets and reallocating resources from old and large toward young and small firms.

This paper investigates differences in the composition of employment between exporting and non-exporting firms. In particular, it asks whether exporting firms hire more engineers relative to blue-collar workers than non-exporting firms. In a stylized partial-equilibrium model, firms produce goods of varying quality and exporters tend to produce higher quality goods, which are intensive in engineers relative to blue-collar workers. Firms are heterogeneous and more productive firms become exporters and have a higher demand for engineers. The paper provides causal evidence in support of these theories using the Chilean Encuesta Nacional Industrial Anual, an annual census of manufacturing firms. The results from an instrumental variable estimator suggest that Chilean exporters indeed utilize a higher share of engineers over blue-collar workers.

The bachelor thesis deals with the decrease in total sales of printed newspapers in the Czech Republic in the period from 2006 to 2016 and seeking recommendations for media houses to counter this trend. The thesis also looks for the reason of the increasing total sales of Forbes magazine in the Czech Republic, that is considered as an exception. The theoretical part is about printed media: about its history, economics, quantity demanded and supplied after the newspapers, and finally this part includes the section about history and expansion of Forbes. In the empirical part, there is an analysis of the market and an econometric model that confirms the hypothesis of a decline in the sales of newspapers at the expense of the increase of the internet availability. There is also an analysis of the questionnaire "Profile of the readers of the Czech Forbes magazine," and the empirical part also consists of comparison of the Czech Forbes with the American version, respectively with competing titles on the Czech market.

Firm informality is pervasive throughout the developing world, Bangladesh being no exception. The informal status of many firms substantially reduces the tax basis and therefore impacts the provision of public goods. The literature on encouraging formalization has predominantly focused on reducing the direct costs of formalization and has found negligible impacts of such policies. This paper focuses on a stick intervention, which to the best of the knowledge of the authors is the first one in a developing country setting that deals with the most direct and dominant form of informality, i.e. registration with the tax authority with a direct link to the countrys potential revenue base and thus public goods provision. The paper implements an experiment in which firms are visited by tax representatives who deliver an official letter from the Bangladesh National Tax Authority stating that the firm is not registered and the consequential punishment if the firm fails to register. The paper finds that the intervention increases the rate of registration among treated firms, while firms located in the same market but not treated do not seem to respond significantly. The paper also finds that only larger revenue firms at baseline respond to the threat and register. These findings have at least two important policy implications: i. the enforcement angle, which could be an important tool to encourage formalization; and ii. targeting of government resources for formalization to the high-end informal firms. The effects are generally small in levels and this leaves open the question of why many firms still do not register.

China has defied the declining trend in domestic content in exports in many countries. This paper studies China’s rising domestic content in exports using firm- and customs transaction-level data. The approach embraces firm heterogeneity and hence reduces aggregation bias. The study finds that the substitution of domestic for imported materials by individual processing exporters caused China’s domestic content in exports to increase from 65 to 70 percent in 2000–2007. Such substitution was induced by the country’s trade and investment liberalization, which deepened its engagement in global value chains and led to a greater variety of domestic materials becoming available at lower prices.

There is a growing consensus that what you export matters for growth (see for instance, Haussman and al. 2007 and Krishna and Maloney (2011)). This paper examines whether and to what extent Jordan and Tunisia, the two most globally integrated countries of the Middle East and North Africa region, are moving up the technological ladder. To that effect, we use two highly disaggregated panel export database (products captured at the 11-digit level) and a 'product-based' methodology that allows a mapping of products classified by technological content and their sector of origin. We find that Jordan and Tunisia have experienced contrasting dynamics over the last decade. Thanks to its large exports of pharmaceutical products, Jordan enjoys a much higher share of high tech products in its export basket (11.5 percent versus 5.4 percent respectively) but this share has been declining over time due to the rapid rise of exports of textiles products. In contrast, from a very low basis, Tunisia has been catching up thanks to a slow but steady rise in medium-high tech products (electronics and mechanical components) and a corresponding decline in the preeminence of exports of textile products. Interestingly, success stories identified in both countries are all associated with the establishment of an 'enclave' where transparent 'rules of the game' are credibly enforced with the help of an external policy anchor either through international agreements (e.g. Jordan's free trade agreement with the US and the signature of and compliance with WTO's Intellectual Property Rights) or the establishment of a 'special zone/regime' such as Tunisia's 'offshore' regime and Jordan's Qualifying Industrial Zone. This finding underscores the importance of overcoming institutional weaknesses and establishing transparent and rules-based Government-business relationships as a pre-requisite for successful global integration in developing countries countries.

All ACP Agricultural Commodities Program, European Commission, ACP Group of States Despite losing global market share over the last 20 years, Uganda remains a major coffee producer, accounting for approximately 2.5 percent of global coffee production. In 2008-2009, coffee exports accounted for almost a quarter of Uganda's formal export earnings and were estimated to generate income and employment for up to 1.3 million Ugandan households. As such, the coffee industry is extremely important to both the rural population and the Ugandan economy. However, the sector exhibits significant levels of production volatility, caused in part by unmanaged risks. Despite the occurrence of numerous risks, the sector has always managed to produce significant, albeit variable, volumes of coffee for export, but the historic resilience of the sector does not automatically imply that the industry will avoid longer-term decline if it fails to proactively manage potential risks going forward. The government of Uganda and the Uganda Coffee Development Authority (UCDA) has already implemented a number of initiatives and programs to mitigate some of the above-mentioned risks. However, many of the existing initiatives need to be strengthened, and some new activities added, to ensure insofar as possible the comprehensive management of all key risks facing the coffee supply chain. An in-depth evaluation of individual solutions was beyond the scope of this exercise; an exhaustive listing of potential risk management solutions, and an assessment of the cost-benefit ratio of different risk management options, needs to be undertaken by the government of Uganda and UCDA.

Successful exporting countries are often seen as successful economies. This paper studies the role of new exporting entrepreneurs – defined as firms that became exporters – in determining export growth in a fast growing and export oriented middle-income country i.e., Costa Rica during 1997-2007. It provides a detailed description of the contribution of export entrepreneurs in the short and long run, and comparing the observed patterns with an emerging literature on the role of the “extensive” margin in international trade. On a year-by-year basis, the rate of firm turnover into and out of exporting is high, but exit rates decline rapidly with age (i.e., the number of years the firm has been exporting). On average, about 30 percent of firms in each year tend to exit export activities, and a similar percentage of firms enter. The exiting and entering firms tend to be significantly smaller than incumbent firms in terms of export value (e.g., entrants export about 30 percent less on average than incumbent firms). These findings are consistent with existing evidence for other middle income Latin American countries. However, in the long run new product-firm combinations (i.e., product-firm combinations not present in 1997) account for almost 60 percent of the value of exports in 2007. Surviving new exporters actively adopted new products (for the firm, but not necessarily new for the country) and abandoned weaker existing products they start with, and their export growth rates were very high during a period (1999-2005) when those of incumbent exporting firms were actually negative.

After decades of high trade restrictions, fiscal distortions, and currency overvaluation, Cameroon implemented important commercial and fiscal policy reforms in 1994. Almost simultaneously, a major devaluation cut the international price of Cameroon's currency in half. This article examines the effects of those reforms on the incentive structure faced by manufacturing firms. Did the reforms create a coherent new set of signals? Did they reduce dispersion in tax burdens? Was the net effect to stimulate the production of tradable goods? The results of applying a cost function decomposition to detailed firm-level panel data suggest that the reforms created clear new signals for manufacturers, as effective protection rates fell by 80 to 120 percentage points. In contrast, neither the tax reforms nor the devaluation had a major systematic effect on profit margins. The devaluation did shift relative prices dramatically in favor of exportable goods, causing exporters to grow relatively rapidly.