Exports, Imports and Profitability: First Evidence for Manufacturing Enterprises
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Exports, Imports and Profitability : First Evidence for Manufacturing Enterprises. / Wagner, Joachim.
Microeconometrics of International Trade. Hrsg. / Joachim Wagner. World Scientific Publishing Co., 2016. S. 311-338 (World Scientific Studies in International Economics; Band 52).Publikation: Beiträge in Sammelwerken › Kapitel › begutachtet
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TY - CHAP
T1 - Exports, Imports and Profitability
T2 - First Evidence for Manufacturing Enterprises
AU - Wagner, Joachim
N1 - Publisher Copyright: © 2016 by World Scientific Publishing Co. Pte. Ltd.
PY - 2016/7/1
Y1 - 2016/7/1
N2 - This paper documents for the first time the relationship between profitability and three types of international trade activities - exports, imports, and two-way trade. It uses unique new representative data for manufacturing enterprises from Germany, one of the leading actors in the world market for goods, that merge information from surveys performed by the Statistical Offices and administrative data collected by the Tax Authorities. Descriptive statistics and regression analysis (with and without controlling for unobserved firm heterogeneity and the role of outliers) point to the absence of any statistically significant and economically large effects of trade activities on profits. This demonstrates that any productivity advantages of trading firms are eaten up by extra costs related to selling and buying in foreign markets.
AB - This paper documents for the first time the relationship between profitability and three types of international trade activities - exports, imports, and two-way trade. It uses unique new representative data for manufacturing enterprises from Germany, one of the leading actors in the world market for goods, that merge information from surveys performed by the Statistical Offices and administrative data collected by the Tax Authorities. Descriptive statistics and regression analysis (with and without controlling for unobserved firm heterogeneity and the role of outliers) point to the absence of any statistically significant and economically large effects of trade activities on profits. This demonstrates that any productivity advantages of trading firms are eaten up by extra costs related to selling and buying in foreign markets.
KW - Exports
KW - imports
KW - profitability
UR - http://www.scopus.com/inward/record.url?scp=85135657460&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/a0c042bd-8c1f-321f-9ebb-1a94de3b19ae/
U2 - 10.1142/9789813109698_0009
DO - 10.1142/9789813109698_0009
M3 - Chapter
AN - SCOPUS:85135657460
SN - 9789813109681
T3 - World Scientific Studies in International Economics
SP - 311
EP - 338
BT - Microeconometrics of International Trade
A2 - Wagner, Joachim
PB - World Scientific Publishing Co.
ER -