The role of firm-to-firm relationships in exporter dynamics

IF 1.6 3区 经济学 Q2 ECONOMICS Economica Pub Date : 2024-01-09 DOI:10.1111/ecca.12511
Davide Rigo
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Abstract

This paper investigates the role of firm-to-firm relationships in export market dynamics, documenting the following stylized facts for French exporters. First, exporters grow in a foreign market by expanding their customer base; the average French exporter doubles its number of buyers after 8 years. Second, sales to existing customers remain the predominant source of growth in a foreign market, with long-lasting relationships contributing to most export values. Third, as a mechanism driving firms' growth in a relationship, prices fall as a relationship ages. Fourth, I exploit the Brexit referendum as a quasi-natural experiment to examine how firm-to-firm relationships adjust in response to changes in market access. I find that French exporters with long-lasting relationships in the UK are less affected by the referendum shock and exhibit higher exchange rate pass-through. Overall, these findings indicate that long-lasting relationships represent a crucial margin for export market growth and in shielding exporters from changing market conditions.

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公司与公司之间的关系在出口商动态中的作用
本文研究了公司与公司之间的关系在出口市场动态中的作用,并记录了法国出口商的以下典型事实。首先,出口商通过扩大客户群在国外市场实现增长;平均而言,法国出口商在 8 年后将其买家数量翻了一番。其次,对现有客户的销售仍然是国外市场增长的主要来源,长期的合作关系为大部分出口额做出了贡献。第三,作为关系中企业增长的驱动机制,价格随着关系的老化而下降。第四,我利用英国脱欧公投这一准自然实验,研究企业与企业之间的关系如何随着市场准入的变化而调整。我发现,在英国拥有长期关系的法国出口商受公投冲击的影响较小,并表现出较高的汇率传递性。总体而言,这些研究结果表明,持久的关系是出口市场增长的关键因素,也是出口商免受市场条件变化影响的关键因素。
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来源期刊
Economica
Economica ECONOMICS-
CiteScore
2.40
自引率
0.00%
发文量
49
审稿时长
5 weeks
期刊介绍: Economica is an international journal devoted to research in all branches of economics. Theoretical and empirical articles are welcome from all parts of the international research community. Economica is a leading economics journal, appearing high in the published citation rankings. In addition to the main papers which make up each issue, there is an extensive review section, covering a wide range of recently published titles at all levels.
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