Exports, Imports and Profitability: First Evidence for Manufacturing Enterprises
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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Exports, Imports and Profitability: First Evidence for Manufacturing Enterprises. / Wagner, Joachim.
in: Open Economies Review, Jahrgang 23, Nr. 5, 11.2012, S. 747-765.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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TY - JOUR
T1 - Exports, Imports and Profitability: First Evidence for Manufacturing Enterprises
AU - Wagner, Joachim
PY - 2012/11
Y1 - 2012/11
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 on 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 on foreign markets. © 2011 Springer Science+Business Media, LLC.
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 on 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 on foreign markets. © 2011 Springer Science+Business Media, LLC.
KW - Economics
KW - Exports
KW - Imports
KW - Profitability
KW - industrial enterprise
KW - international trade
KW - manufacturing
UR - http://www.scopus.com/inward/record.url?scp=84867522399&partnerID=8YFLogxK
U2 - 10.1007/s11079-011-9235-z
DO - 10.1007/s11079-011-9235-z
M3 - Journal articles
VL - 23
SP - 747
EP - 765
JO - Open Economies Review
JF - Open Economies Review
SN - 0923-7992
IS - 5
ER -