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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The emergence of mega-farms in middle-income countries like Brazil and Ukraine and the efforts to consolidate small farms into larger ones in China and elsewhere have suggested that new institutional arrangements and technology progress may increase the significant farm economies of size, and therefore challenging the classical inverse relationship (IR) between productivity and farm size. The purpose of this paper is to conduct a research to examine the existence of IR in China’s cereal production and further explore the possible mechanism.

Based on the panel data concerning farms from 31 provinces in China in 2009–2014, technology efficiency and allocation efficiency in cereal production were measured based on the Translog production function.

In China, an IR exists between wheat, rice and maize production after controlling the related variables. Further, the presence of this IR is due to allocation efficiency rather than technology efficiency. Results of technology efficiency show that there is no significant difference between different size groups; in other words, even the larger size groups enjoy a higher technology efficiency in rice production. Results of allocation efficiency demonstrate that, compared with the larger farms, smaller holders tend to invest more in factors which are beneficial in growing productivity. Hence, yields of small-size farms exceed those of large-size farms, which consequently leads to the IR.

The scale consolidation of cropland is harmless to the efficiency of factor utilization and, conversely, may contribute in improving the technology efficiency of specific crops (like rice). Based on the results of allocation efficiency estimation, the extent of misallocation in large scales is relatively less due to their less input of fertilizer and pesticide; thus, the size-improving policy of farmland may contribute to the ease of the non-point pollution in agriculture.

The existing discussions of the IR in the context of recent China mainly focus on the accurate verification of IRs. This paper steps forward from the perspective of technology efficiency and allocation efficiency and explores the exact resources of IR with up-to-date and representative data and hopes to find some new conclusions.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

As a transition economy, China is interested in allocating its limited innovation resources economically, reasonably and efficiently to produce as many outputs as possible with its limited financial and human resources. Nonetheless, what is the efficiency of the allocation of innovative resources for civil–military integration enterprises, and what factors hinder its efficiency improvement? The purpose of this paper is to explore these problems.

The improved two-stage network data envelopment analysis (DEA) method is used to measure the overall efficiency and stage efficiency of the innovation resource allocation of 58 Chinese civil–military integration listed companies from 2010 to 2016. Tobit model is used to analyze the influencing factors of resource allocation efficiency.

The results indicate that the overall efficiency and stage efficiency of innovation resource allocation fluctuate in varying degrees during the period. The optimization of overall efficiency is restricted by lower efficiency of innovation achievement transformation. Enterprise scale was found to have a significant negative impact on both overall and two-stage efficiencies. Proportion of research and development (R&D) personnel had a positive effect on the overall and two-stage efficiency. Government support had a significant positive effect on the stage of innovation resource development and overall efficiency.

Previous research studies have used either the DEA or stochastic frontier analysis method to measure the efficiency of innovation activities as a whole and ignored the stage of initial investment to final output in innovation activities. That is, the process in which initial input of R&D resources becomes innovation output, and then becomes economic benefits. Therefore, this paper studies the efficiency of innovation resource allocation of civil–military integration listed companies. The improved two-stage chain network DEA method and Tobit model were used.

The extant literature provides evidence that single CEOs are less risk-averse. Building on the theory of risk aversion, the authors argue that the risk aversion trait arising from CEO’s marital status partially explains capital allocation efficiency. The paper aims to examine the association between CEO marital status and capital allocation efficiency.

The primary sample includes 9,671 observations from 1,264 US firms. The authors apply multivariate regression and a series of endogeneity tests to examine the association between CEO marital status and capital allocation efficiency.

Single-CEO firms have higher capital allocation inefficiency than those with married CEOs. The findings continue to hold after a series of endogeneity tests such as propensity score matching, change analysis and instrumental variable regression analysis and are robust to alternative proxies for capital allocation inefficiency. The capital allocation inefficiency in single-CEO firms arises from overinvestment but not underinvestment, and corporate risk-taking channels the effect.

The study is limited to the effect of CEO marital status, not CEO marital quality.

The findings imply that besides information asymmetry and agency conflicts, CEO marital status should receive special attention for capital allocation efficiency. Also, marital status influences the CEOs’ commitment to the general good of society, affecting the potential conflict of interest with different stakeholders from inefficient capital allocation.

This study extends corporate finance literature on CEO marital status by providing novel evidence on the effect of single CEOs on capital allocation efficiency. The authors conclude that CEOs’ personality traits, such as marital status, matter in corporate policy choices.

This paper aims to clarify the relationship between digital transformation and labor structure from the perspectives of microenterprise business strategies and factor allocation efficiency. It attempts to address the gap in existing research by explaining the impact of digital transformation on multidimensional workforce structures and the positive effects of this structural adjustment on labor allocation efficiency. In addition, the study further explores the economic ramifications of digital transformation, clarifying the correlation between changes in labor force structure and enterprise human resource allocation, thus enhancing the employment mobility effects of digital innovation at the enterprise level.

In contrast to prior research, our approach uses text analytics to assess the internal labor structure, incorporating labor skill, position and age into the analytical framework. This approach yields a more comprehensive data set, shedding light on variations in multidimensional employment structures.

The paper asserts that digital transformation significantly influences labor structure changes, evidenced by increased proportions of high-skilled, non-routine and younger laborers, as well as decreased shares of low-skilled, routine and older-age workers. Furthermore, it captures internal labor structure impacts, influenced by enterprise size, ownership, industry density and regional digitization levels. Mechanism analysis indicates moderation of digital transformation effects on labor structure by innovative tasks, labor productivity and management shareholding.

The paper reveals the specific impact of corporate digital transformation on workforce structure, enriching the employment mobility effects of digital innovation at the enterprise level and providing theoretical support for the formulation and implementation of relevant policies.

First, this paper delves into the impact of digital transformation on the internal labor structure from a microlevel perspective, elucidating its mechanisms. Second, in contrast to prior research, it uses text analytics to assess the internal labor structure, incorporating labor skill, position and age into the analytical framework. This approach yields a more comprehensive data set, shedding light on variations in multidimensional employment structures. Lastly, the study investigates the economic ramifications of shifts in employment structures. The findings of this study furnish novel empirical evidence for the debate regarding whether digital transformation can indeed enhance labor allocation efficiency.

Drawing on the concept of superior resource, capability and processes of the resource-based theory of the firm, the purpose of the current study is to analyze the influence of firms’ winner-picking strategic approach on firm performance (FP) via a direct and indirect mechanism.

Using survey data of 104 diversified manufacturing firms, the current study analyzed the conditional indirect effect of firms’ strategic approach on efficient resource allocation with the help of Statistical Analysis Software (SAS) process macros.

The study found that firms’ choices of winner-picking approach can undermine the resource allocation efficiency when not perfectly blended with firms’ access to the resource. Furthermore, the effect of winner-picking strategy (WPS) on resource allocation efficiency via firms’ competitive advantage (CA) can be greater when both strategic choice and resources are employed adequately.

Despite making a unique contribution, the present study has a few limitations requiring researchers’ attention to be tackled in the forthcoming. This includes a little amount of data, a self-reporting technique and failure to include all the possible reasons that could lead to inefficient resource allocation.

The present research has potential applications for managers of the manufacturing industry in a period of sheer uncertainty [coronavirus disease 2019 (COVID-19)]. First, the study alerts managers about the challenges of underinvestment and overinvestment while allocating resources. At the same time, this study provides an important implication for managing the importance of firms’ access to capital (AC).

The current study has made a sizeable impression in the literature on internal resource allocation and resource-based theory of the firm by recommending a model that augments the theoretical foundation of strategic management of the firms. As there are only a handful of studies on this grave issue in the context of developing economies, thus, closely considering these insights would be helping for the firms for allocating resources efficiently in the manufacturing industry.

The chapter examines the sources of total factor productivity growth (TFPG) of the 2-digit manufacturing industries as well as total manufacturing industry of Gujarat during the period from 1981–82 to 2010–11, using a stochastic frontier approach. The empirical finding clearly states that although factor accumulations as well as resource allocations in most of the 2-digit manufacturing industries of the state have been improved during the postreform period, technological progress (TP) and technical efficiency change (TEC) of the same have deteriorated in most industries of the state during that period. As a result TFPG in the major manufacturing industries as well as total manufacturing industry of the state have declined because the combined effect of their improvement in scale effect (SC) and allocation efficiency effect (AEC) could not offset the declining effect of both the TP and TEC of the same during that period. In this context, the government should take some policy initiatives to improve productive efficiency of the organized manufacturing industries in Gujarat. Once efficiency increases, it enhances competitiveness, thereby increasing productivity growth and its different sources of organized manufacturing industries of the state.

This study explores the effect of local budget retention rate changes (RER) on total factor productivity (TFP) and its components in Vietnam.

The study employs a two-system generalized method of moments (GMM) estimator and data from 2012 to 2019 across all 63 provinces/cities of Vietnam.

The study finds that local budget retention rates significantly influence public investment, affecting scale and allocation efficiency. The reallocation of budgets between regions and from the central government to local levels incurs certain costs, often resulting in economically robust provinces experiencing reductions in their retention rates.

Recognizing the challenges of immediate structural budget changes due to cultural and historical factors, the study suggests a more gradual policy approach. It emphasizes the importance of policy predictability, as abrupt reductions in the retention rate lead to higher costs than gradual reductions, thus implementing budget policies with a clearer timeline. This study provides insight into local budget allocation regimes and their impact on productivity in transitioning countries.

First, the study provides fresh evidence of the impact of retention rate changes on TFP and its components in Vietnam. Second, the study provides insights into the mechanisms of the nexus of increased budget spending, capital efficiency and, most importantly, attaining improvement in education. We also offer further insights into inefficient budget allocation agents in Vietnam, especially in large cities, which should alert scholars to explore this topic further in the future.

The chapter investigates: (1) Do married parents efficiently allocate time to children’s health care? (2) Are parents willing to sacrifice consumption for health improvements at an equal rate for all family members? (3) How does family structure affect health trade-offs parents make? (4) Are parental choices consistent with maximization of a single utility function?

A model is specified focusing on how parents allocate resources between consumption and goods that relieve acute illnesses for family members. Equivalent surplus functions measuring parental willingness to pay to relieve acute illnesses are estimated using data from a stated-preference survey.

Results provide limited support for the prediction that married parents allocate time to child health care according to comparative advantage. Valuations of avoided illness vary between family members and are inconsistent with the hypothesis that fathers’ and mothers’ choices reflect a common utility function.

Prior research on children’s health valuation has relied on a unitary framework that is rejected here. Valuation researchers have focused on allocation of resources between parents and children while ignoring allocation of resources among children, whereas results suggest significant heterogeneity in valuation of health of different types of children and of children in different types of households.

Results may provide a justification on efficiency grounds for policies to provide special protection for children’s health and suggest that benefit–cost analyses of policies affecting health should include separate estimates of the benefits of health improvements for children and adults.