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  • 1. Ankarhem, Mattias
    et al.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics.
    Quoreshi, Shahiduzzaman
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Do Regional Investment Grants Improve Firm Performance?: Evidence from Sweden2010In: Technology and Investment, ISSN 2150-4059, Vol. 1, no 3, p. 221-227Article in journal (Refereed)
    Abstract [en]

    The effect of Swedish regional investment grants during 1990-1999 on firm performance, in terms of returns on equity and number of employees, were studied using a propensity-score matching-method to control for sample selection. Firms that received grants did not perform better in terms of returns on equity when compared to matched firms in the control group. In most years, recipient firms also did not hire more employees. The results thus cast doubt on the use of regional investment grants as a general policy instrument to improve firm performance.

  • 2. Bask, Mikael
    et al.
    Lundgren, Jens
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Market power in the expanding Nordic power market2011In: Applied Economics, ISSN 0003-6846, E-ISSN 1466-4283, Vol. 43, no 9, p. 1035-1043Article in journal (Refereed)
    Abstract [en]

    We examine if the Nordic power market, Nord Pool, has been competitive or if electricity suppliers have had market power. Specifically, since the evolution from national markets to a multi-national and largely deregulated power market has taken place stepwise, we also examine how the degree of market power has evolved during this integration process. The Bresnahan-Lau method together with weekly data during 1996-2004 are used in the analysis, which shows that electricity suppliers have had small, but statistically significant, market power, but that the market power has been reduced as the Nord Pool area has expanded

  • 3.
    Bergman, Mats A.
    et al.
    Mälardalens Högskola.
    Granlund, David
    Umeå Universitet.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Reforming the Swedish pharmaceuticals market: Consequences for costs per defined daily dose2016In: International Journal of Health Economics and Management, ISSN 2199-9023, E-ISSN 2199-9031, Vol. 16, no 3, p. 201-214Article in journal (Refereed)
    Abstract [en]

    In 2009 and 2010, the Swedish pharmaceuticals market was reformed. One of the stated policy goals was to achieve low costs for pharmaceutical products dispensed in Sweden. We use price and sales data for off-patent brand-name and generic pharmaceuticals to estimate a log-linear regression model, allowing us to assess how the policy changes affected the cost per defined daily dose. The estimated effect is an 18 % cost reduction per defined daily dose at the retail level and a 34 % reduction in the prices at the wholesale level (pharmacies’ purchase prices). The empirical results suggest that the cost reductions were caused by the introduction of a price cap, an obligation to dispense the lowest-cost generic substitute available in the whole Swedish market, and the introduction of well-defined exchange groups. The reforms thus reduced the cost per defined daily dose for consumers while being advantageous also for the pharmacies, who saw their retail margins increase. However, pharmaceutical firms supplying off-patent pharmaceuticals experienced a clear reduction in the price received for their products.

  • 4.
    Bergman, Mats A
    et al.
    Södertörn University .
    Granlund, David
    Umeå University.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Squeezing the last drop out of your suppliers: An empirical study of market-based purchasing policies for generic pharmaceuticals2017In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084, Vol. 79, no 6, p. 969-996Article in journal (Refereed)
    Abstract [en]

    We study the effect of the degree of exclusivity for the lowest bidder on the average price of generic pharmaceuticals in the short and long terms. Our results indicate that a 1-percentage-point gain in market share of the lowest bidder reduces average costs by 0.2% in the short term and 0.8% in the long term, but also reduces the number of firms by 1%. We find that reducing the number of firms has a strong positive (and hence counteracting) effect on average prices, a 1% reduction raising prices by approximately 1%.

  • 5.
    Bergman, Mats
    et al.
    Nationalekonomi, Södertörns högskola.
    Granlund, David
    Nationalekonomi, Umeå Universitet.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Apoteksmarknadens omreglering: Effekter på följsamhet, priser och kostnader per dygnsdos2012Report (Other academic)
  • 6. Bergman, Mats
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Apoteksmarknadens omreglering: Effekter på följsamhet och priser2011Report (Other academic)
  • 7. Blom, Carin
    et al.
    Junkka, Fredrik
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Vestin, Henrik
    Den osynliga värdeskaparens framtid2011In: Ekonomiska samfundets tidskrift, ISSN 0013-3183, E-ISSN 2323-1378, no 3, p. 157-168Article in journal (Refereed)
    Abstract [sv]

    Hos gemene man anses partihandel ofta vara detsamma som ledet mellan producent och detaljhandlare. Partihandeln är emellertid betydligt mer komplex än så. Partihandeln består av flera olika delbranscher som kan vara mycket olika varandra. En del partihandelsbranscher ligger närmare detaljhandeln, medan andra har mycket gemensamt med tillverkningsindustrin. I denna artikel presenteras statstik över den Svenska partihandelns betydelse i ekonomin, dess geografiska spridning illustreras grafiskt, och slutligen genomförs tre fallstudier av Svenska partihandelsföretag. I de tre fallstudierna anges några faktorer ha större betydelse än andra för partihandlarnas framtid. Dessa faktorer, som diskuteras utförligt i artikeln, är bland annat teknologisk utveckling, internationalisering, och en förändrad konkurrenssituation.

  • 8.
    Bornhäll, Anders
    et al.
    Örebro universitet; HUI Research .
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research .
    Mihaescu, Oana
    Dalarna University, School of Technology and Business Studies, Human Geography. HUI Research.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Osynliga jobbskapare: En tillväxtpotential för svensk detaljhandel?2015Report (Other academic)
    Abstract [sv]

    Den stora merparten av alla detaljhandelsföretag karakteriseras av ingen eller en marginell tillväxt av antalet anställda. Dessa företag betraktas ofta som en homogen grupp bestående av företag med inga tillväxtambitioner och som näringspolitiken inte bör inriktas gentemot. I denna rapport visar vi dock att de företag som inte växer i själva verket är mycket heterogena. Mer än tio procent av alla detaljhandelsföretag som inte växer under en treårsperiod kännetecknas av en relativt hög lönsamhet. Dessa företag kallar vi för de sovande gasellerna eftersom tidigare studier har visat att hög lönsamhet är en viktig faktor för en långsiktigt hållbar framtida tillväxt av antalet anställda. Andelen sovande gaseller inom detaljhandeln är cirka 1,5 till 2,35 procentenheter fler än i ekonomin som helhet. Hälften av dessa detaljhandelsföretag kommer inte heller att öka antalet anställda i kommande perioder, trots att de fortsätter att ha en hög lönsamhet eller en lönsamhet i paritet med det genomsnittliga företaget. Detta visar att det finns en dold tillväxtpotential inom detaljhandeln i Sverige som inte har realiserat. Resultaten från studien visar också att de sovande gasellerna inom detaljhandeln inte är slumpmässigt dragna ur företagspopulationen, utan att det framförallt är små företag som väljer att inte expandera verksamheten mellan två treårsperioder. De sovande gasellerna är inte heller slumpmässigt fördelade geografiskt i Sverige. De kommuner som har en hög andel sovande gaseller inom detaljhandeln under en tidsperiod tenderar att även ha det i kommande tidsperioder, vilket indikerar att det finns geografiska förklaringar till varför vissa företag inte växer trots att de har en god lönsamhet. Avsaknaden av tillväxt hos dessa företag kan antingen förklaras av att de inte har några tillväxtambitioner, oavsett villkoren för företagande; alternativt att de vill växa, men inte under rådande förutsättningar. Om den senare förklaringen är giltig kan reformer som minskar tillväxtbarriärer för detaljhandelsföretagen generera många nya arbetstillfällen.

  • 9.
    Bornhäll, Anders
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Employment protection legislation and firm growth: Evidence from a natural experiment2017In: Industrial and Corporate Change, ISSN 0960-6491, E-ISSN 1464-3650, Vol. 26, no 1, p. 169-185Article in journal (Refereed)
    Abstract [en]

    A Swedish reform in 2001 made it possible for firms with less than 11 employees to exclude two from the last-in-first-out principle in case of layoffs. The reform increased employment growth with over 4000 additional jobs per year among firms with five to nine employees. Firms with 10 employees became 3.4 percentage points less likely to increase their workforce, indicating that the introduced threshold kept them from growing. Thus, employment protection legislation seems to act as a growth barrier for small firms.

  • 10.
    Bornhäll, Anders
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. Örebro university.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics. HUI.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Employment Protection Legislation and Firm Growth: Evidence from a Natural Experiment2014Report (Other academic)
    Abstract [en]

    A natural experiment is used to identify the causal relationship between employment protection legislation and fi…rm growth. The natural experiment occurred in Sweden in 2001, when an exemption made it possible for fi…rms with less than eleven employees to exclude two workers from the last-in-fi…rst-out principle when dismissing personnel. The estimated average treatment effect of the reform show that the number of employees increased with 0.135 percent in fi…rms with 5-9 employees relative to fi…rms with 10-15 employees, which corresponds to over 5,000 additional jobs per year created by the reform. Firms with ten employees, just below the size threshold, became 3.4 percent less likely to increase their workforce to a level surpassing the threshold, indicating that the last-in-…first-out rule prevented these …firms from growing. Thus, employment protection legislation seems to act as a growth barrier for small fi…rms.

  • 11.
    Bornhäll, Anders
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Sleeping gazelles: High profits but no growth2014In: Frontiers of Entrepreneurship Research, ISSN 0740-7416, Vol. 34, no 17, p. 1-16, article id 1Article in journal (Refereed)
    Abstract [en]

    Among 104,231 limited liability firms in Sweden with at least two employees during 1997- 2010, almost 10% did not hire new employees in any given 3-year period despite having high profits. Nearly half of these firms continued to have high or medium profits in the next threeyear period, but still no growth. Regression analysis indicates that these firms were not randomly distributed; rather they were small and young, did not belong to an enterprise group, and operated in local markets with high profit-opportunities. We conclude that it might be more beneficial to focus policy towards these firms instead of towards a few high-growth firms that, having just grown exponentially, may not be best positioned to grow further.

  • 12.
    Bornhäll, Anders
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Sleeping gazelles: The unseen job creators?2015In: Entrepreneurial growth: Individual, firm, and region / [ed] Corbett, A.C., Katz, J.A., and McKelvie, A, Emerald Group Publishing Limited, 2015, p. 161-185Chapter in book (Refereed)
    Abstract [en]

    High-growth firms have recently received considerable attention in the firm growth literature. These firms might have grown despite the existence of growth barriers, and evidence also suggests that, having already grown exponentially, they may not be in the best position to grow further. Policies targeting high-growth firms may therefore be misdirected. We argue that entrepreneurship researchers should concentrate more on firms that are not hiring, despite having high profits. We call these firms “sleeping gazelles,” and demonstrate that they represented almost 10% of all limited liability firms in Sweden from 1997 to 2010. Nearly half of these firms continued to earn high or moderate profits in subsequent three-year periods, while still displaying no growth. Regression analyses indicate that these firms were significantly smaller, older, more likely to be active in industries with high profit uncertainty, and more likely to be located in less densely populated municipalities than were corresponding growing firms.

  • 13.
    Bornhäll, Anders
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. Örebro university.
    Daunfeldt, Sven-olov
    Dalarna University, School of Technology and Business Studies, Economics. HUI.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    The unseen job creators: Growth potential among non-growing …firms2014Report (Other academic)
    Abstract [en]

    Among 104,231 limited liability fi…rms in Sweden with at least two employees during 1997-2010, almost 10 % did not hire new employees in any given 3-year period despite having high profi…ts. Nearly half of these …firms continued to have high or medium pro…fits in the next three-year period, but still no growth. Regression analysis indicates that these fi…rms were not randomly distributed; rather they were small and young, did not belong to an enterprise group, and operated in local markets with high profi…t-opportunities. We conclude that it might be more benefi…cial to focus policy towards these …firms instead of towards a few high-growth fi…rms that, having just grown exponentially, may not be best positioned to grow further.

  • 14.
    Brandt, Daniel
    et al.
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    Firm entry in the Swedish wholesale trade sector: dDoes market definition matter?2014In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 53, no 3, p. 703-717Article in journal (Refereed)
    Abstract [en]

    Firm entry into local markets has often been studied using administrative areas such as municipalities as the assumed relevant markets. However, administrative areas and the actual relevant markets based on local demand for firms’ products often do not coincide, which could bias the results of studies treating administrative areas as the relevant markets. Based on a behavioral assumption regarding how retailers act when purchasing products from wholesale trade firms, we create alternative markets using Voronoi diagrams. We then compare the empirical results of investigating the determinants of firm entry using municipalities as the relevant markets with the results obtained using Voronoi markets. The results indicate that, in both cases, the same variables are statistically significant in affecting entry, though the estimated effects differ in size.

  • 15.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Han, Mengjie
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Information Systems. Dalarna University, School of Technology and Business Studies, Human Geography.
    Meng, Xiangli
    Dalarna University, School of Technology and Business Studies, Statistics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Measuring CO2 emissions induced by online and brick-and-mortar retailing2014Report (Other academic)
    Abstract [en]

    We develop a method for empirically measuring the difference in carbon footprint between traditional and online retailing (“e-tailing”) from entry point to a geographical area to consumer residence. The method only requires data on the locations of brick-and-mortar stores, online delivery points, and residences of the region’s population, and on the goods transportation networks in the studied region. Such data are readily available in most countries, so the method is not country or region specific. The method has been evaluated using data from the Dalecarlia region in Sweden, and is shown to be robust to all assumptions made. In our empirical example, the results indicate that the average distance from consumer residence to a brick-and-mortar retailer is 48.54 km in the studied region, while the average distance to an online delivery point is 6.7 km. The results also indicate that e-tailing increases the average distance traveled from the regional entry point to the delivery point from 47.15 km for a brick-and-mortar store to 122.75 km for the online delivery points. However, as professional carriers transport the products in bulk to stores or online delivery points, which is more efficient than consumers’ transporting the products to their residences, the results indicate that consumers switching from traditional to e-tailing on average reduce their CO2 footprints by 84% when buying standard consumer electronics products. 

  • 16.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Han, Mengjie
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Information Systems. Dalarna University, School of Technology and Business Studies, Human Geography.
    Meng, Xiangli
    Dalarna University, School of Technology and Business Studies, Statistics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Measuring CO2 emissions induced by online and brick-and-mortar retailing2014Report (Other academic)
    Abstract [en]

    We develop a method for empirically measuring the difference in carbon footprint between traditional and online retailing (“e-tailing”) from entry point to a geographical area to consumer residence. The method only requires data on the locations of brick-and-mortar stores, online delivery points, and residences of the region’s population, and on the goods transportation networks in the studied region. Such data are readily available in most countries, so the method is not country or region specific. The method has been evaluated using data from the Dalecarlia region in Sweden, and is shown to be robust to all assumptions made. In our empirical example, the results indicate that the average distance from consumer residence to a brick-and-mortar retailer is 48.54 km in the studied region, while the average distance to an online delivery point is 6.7 km. The results also indicate that e-tailing increases the average distance traveled from the regional entry point to the delivery point from 47.15 km for a brick-and-mortar store to 122.75 km for the online delivery points. However, as professional carriers transport the products in bulk to stores or online delivery points, which is more efficient than consumers’ transporting the products to their residences, the results indicate that consumers switching from traditional to e-tailing on average reduce their CO2 footprints by 84% when buying standard consumer electronics products. 

  • 17.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Han, Mengjie
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Information Systems. Dalarna University, School of Technology and Business Studies, Human Geography.
    Meng, Xiangli
    Dalarna University, School of Technology and Business Studies, Statistics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Measuring transport related CO2 emissions induced by online and brick-and-mortar retailing2015In: Transportation Research Part D: Transport and Environment, ISSN 1361-9209, E-ISSN 1879-2340, Vol. 40, p. 28-42Article in journal (Refereed)
    Abstract [en]

    We develop a method for empirically measuring the difference in transport related carbon footprint between traditional and online retailing (“e-tailing”) from entry point to a geographical area to consumer residence. The method only requires data on the locations of brick-and-mortar stores, online delivery points, and residences of the region’s population, and on the goods transportation networks in the studied region. Such data are readily available in most countries. The method has been evaluated using data from the Dalecarlia region in Sweden, and is shown to be robust to all assumptions made. In our empirical example, the results indicate that the average distance from consumer residence to a brick-and-mortar retailer is 48.54 km in the studied region, while the average distance to an online delivery point is 6.7 km. The results also indicate that e-tailing increases the average distance traveled from the regional entry point to the delivery point from 47.15 km for a brick-and-mortar store to 122.75 km for the online delivery points. However, as professional carriers transport the products in bulk to stores or online delivery points, which is more efficient than consumers’ transporting the products to their residences, the results indicate that consumers switching from traditional to e-tailing on average reduce their transport CO2 footprints by 84% when buying standard consumer electronics products. 

  • 18.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Meng, Xiangli
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    The effect on CO2 emissions of taxing truck distance in retail transports2017In: Transportation Research Part A: Policy and Practice, ISSN 0965-8564, E-ISSN 1879-2375, Vol. 97, p. 47-54Article in journal (Refereed)
    Abstract [en]

    To finance transportation infrastructure and to address social and environmental negative externalities of road transports, several countries have recently introduced or consider a distance based tax on trucks. In competitive retail and transportation markets, such tax can be expected to lower the demand and thereby reduce CO2 emissions of road transports. However, as we show in this paper, such tax might also slow down the transition towards e-tailing. Considering that previous research indicates that a consumer switching from brick-and-mortar shopping to e-tailing reduces her CO2 emissions substantially, the direction and magnitude of the environmental net effect of the tax is unclear. In this paper, we assess the net effect in a Swedish regional retail market where the tax not yet is in place. We predict the net effect on CO2 emissions to be positive, but off-set by about 50% because of a slower transition to e-tailing.

  • 19.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Information Systems.
    Meng, Xiangli
    Dalarna University, School of Technology and Business Studies, Statistics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    The effects of taxing truck distance on CO2 emissions from transports in retailing2015Report (Other academic)
    Abstract [en]

    To finance transportation infrastructure and to address social and environmental negative externalities of road transports, several countries have recently introduced or consider a distance based tax on trucks. In the competitive retail market such tax can be expected to lower the demand and thereby reduce CO2 emissions of road transports. However, as we show in this paper, such tax might also slow down the transition towards e-tailing. Considering that previous research indicates that a consumer switching from brick-and-mortar shopping to e-tailing reduces her CO2 emissions substantially, the direction and magnitude of the environmental net effect of the tax is unclear. In this paper, we assess the net effect in a Swedish regional retail market where the tax not yet is in place. We predict the net effect on CO2 emissions to be positive, but off-set by about 50% because of a slower transition to e-tailing.

  • 20.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Optimal retail location and CO2 emissions2012Report (Other academic)
    Abstract [en]

    In this paper, the p-median model is used to find the location of retail stores that minimizes CO2 emissions from consumer travel. The optimal location is then compared with the existing retail location,and the excess CO2 emissions compared with the optimal solution is calculated. The results show that by using the environmentally optimal location, CO2 emissions from consumer travel could be reduced by approximately 25percent. 

  • 21.
    Carling, Kenneth
    et al.
    Dalarna University, School of Technology and Business Studies, Statistics.
    Håkansson, Johan
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Optimal retail location and CO2-emissions2013In: Applied Economics Letters, ISSN 1350-4851, E-ISSN 1466-4291, Vol. 20, no 14, p. 1357-1361Article in journal (Refereed)
    Abstract [en]

    In this paper, the p-median model is used to find the location of retail stores that minimizes CO2-emissions from consumer travel. The optimal location is then compared with the existing retail location,and the excess CO2-emissions compared with the optimal solution is calculated. The results show that by using the environmentally optimal location, CO2-emissions from consumer travel could be reduced by approximately 25 per cent.

  • 22.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Elert, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Start-ups and firm in-migration: evidence from the Swedish wholesale industry2013In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 51, no 2, p. 471-494Article in journal (Refereed)
    Abstract [en]

    We use a data set covering 13,471 Swedish limited liability firms in the Swedish wholesale industries during 2000–2004 to ascertain the determinants of new start-ups and of in-migration of firms. Access to a large harbor, international airport or large railroad classification yard in the municipality nearly triples the number of start-ups and increases the expected number of in-migrating firms with 53 %. The presence of a university, many educated workers and low local taxes are also associated with more start-ups and firm in-migration.

  • 23.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Grek, Åsa
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Hartwig, Fredrik
    Dalarna University, School of Technology and Business Studies, Business Administration and Management.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Betydelsen av internt genererat kapital för en långsiktigt hållbar företagstillväxt2017In: Perspektiv på kapitalförsörjning – en antologi om företagens finansiering och statens roll / [ed] Jörgen Lithander, Stockholm: Tillväxtanalys , 2017, 1, p. 31-49Chapter in book (Other academic)
    Abstract [sv]

    Ett företags expansion kan finansieras med internt genererat kapital eller med hjälp av extern finansiering. Vi undersöker här hur omsättningstillväxten och överlevnadssannolikheten påverkas av företagets internt uppbyggda kapital. Undersökningen baseras på data över alla Sveriges aktiebolag under perioden 1997–2010.

    Våra resultat indikerar att den initiala tillgången på internt uppbyggt kapital generellt sett inte är förknippad med en högre omsättningstillväxt eller ökade möjligheter att överleva på marknaden. Vi finner däremot att de företag som bygger upp interna medel innan de växer är mer sannolika att uppnå en långsiktigt hållbar tillväxt än de företag som växer innan de byggt upp ett internt kapital.

    Resultaten indikerar också att företag som har varit med om uppköp eller sammanslagningar har både högre tillväxt och bättre chanser att överleva på marknaden.

    Vi kan samtidigt konstatera att de skattade sambanden ofta är svaga trots det omfattande datamaterialet. Det tyder på att företagstillväxt i huvudsak är slumpmässig eller kan förklaras av variabler som är svåra att mäta och inkludera i kvantitativ analys. Detta bekräftas också av tidigare studier.

    Våra resultat implicerar att framtida studier bör fokusera mer på hur företagen växer än på vad som kan förklara hur mycket de växer vid en viss tidpunkt.

  • 24.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Grek, Åsa
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Hartwig, Fredrik
    Dalarna University, School of Technology and Business Studies, Business Administration and Management.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Hur kapitalstrukturen påverkar den långsiktigt hållbara företagstillväxten2017Report (Other academic)
    Abstract [sv]

    Det antas ofta att det finns ett ”kapitalförsörjningsgap” i ekonomin på grund av asymmetrisk information, vilket leder till att efterfrågan på externt kapital är större än utbudet. De politiska beslutsfattarna vill därför ofta öka tillgången på externt riskkapital genom olika selektiva statliga stödinsatser för att få fler växande företag.

    Klassiska teorier om företagstillväxt implicerar dock att det snarare är uppbyggnaden av företagets interna resurser som är av betydelse för att förklara företagens tillväxt och möjligheter att överleva på marknaden. Många företagare vill dessutom behålla kontrollen över sitt företag och kan därmed välja att inte växa med externt kapital, trots att de har tillväxtambitioner. Om detta stämmer är politiska beslut som ökar tillgången till internt kapital av större betydelse för företagens utveckling än politiska beslut som avser att öka tillgången på externt kapital.

    I denna rapport vill vi studera hur betydelsefullt det internt uppbyggda kapitalet har varit för tillväxt och överlevnad hos aktiebolag i Sverige under perioden 1997–2010. Våra resultat indikerar att:

    • Tillgången till internt kapital kan inte förklara den observerade företagstillväxten bland aktiebolag i Sverige under perioden 1997–2010.

    • Det interna kapitalet är inte relaterat till överlevnadssannolikheten för aktiebolag i Sverige under perioden 1997–2010.

    • Företag som växer efter att de har byggt upp internt kapital har större möjligheter att i framtiden kombinera hög tillväxt med hög lönsamhet jämfört med de företag som växer innan de har byggt upp internt kapital.

    Resultaten är delvis motstridiga. De företag som bygger upp ett internt kapital och sedan väljer att expandera har en högre sannolikhet att nå en långsiktigt hållbar position för tillväxt än de företag som växer innan de har byggt upp internt kapital. Detta talar för att uppbyggnaden av internt kapital är av betydelse. Våra regressionsresultat indikerar dock att det inte finns något starkt positivt samband mellan internt uppbyggt kapital och företagens framtida omsättningstillväxt eller möjligheter att överlevna på marknaden.

    Det finns ett antal möjliga förklaringar till våra resultat. Den första förklaringen är helt enkelt att det interna kapitalet inte är av betydelse för företagens framtida tillväxt och överlevnad. Den troliga förklaringen till detta är att vid jämvikt kommer företagarna att värdesätta en expansion med internt eller externt kapital på liknande sätt. Detta implicerar att det snarare är den totala mängden riskkapital som påverkar företagens tillväxt och överlevnad, och inte huruvida kapitalet genereras internt eller externt.

    En annan tolkning är att företagarna fortfarande föredrar att växa med internt uppbyggt kapital eftersom resultaten visar effekten på företagstillväxten och överlevnadssannolikheten, givet den initiala uppbyggnaden av internt kapital i företagen. Den initiala nivån av internt kapital har således ingen effekt på företagsutvecklingen, men en ökning av det interna kapitalet i förhållande till tillgången på externt kapital kan fortfarande leda till att fler företag vill expandera sin verksamhet.

    Många företagare i Sverige väljer också att inte växa trots att de har relativt god lönsamhetsutveckling. Detta kan betyda att vi inte observerar några samband mellan det internt uppbyggda kapitalet och företagens utveckling eftersom många företagare inte vill växa under de rådande institutionella förutsättningarna. Det finns med andra ord utelämnande variabler, till exempel olika tillväxtbarriärer (regelkrångel, strikt anställningsskydd, matchningsproblem, etc.), som kan förklara varför det interna kapitalet inte har någon observerad betydelse för tillväxten och företagens överlevnad i vår studie.

    Slutligen kan en möjlig förklaring vara att företagens tillväxt och överlevnad i mycket hög utsträckning är slumpmässig. Detta innebär att det blir svårt att förklara vad det är som påverkar företagens utveckling, vilket också implicerar att selektiva stödåtgärder för att få fler växande företag är dömda att misslyckas.

    Sammanfattningsvis kan vi konstatera att våra resultat inte ger något stöd för hypotesen att företag med tillgång till internt kapital växer snabbare och har en högre överlevnadssannolikhet än de företag som har tillgång till mindre internt uppbyggt kapital. Resultaten bygger på de rådande institutionella förutsättningarna i Sverige under perioden 1997–2010 och är avgränsade till att studera effekten av det initialt uppbyggda kapitalet i bolagen. Vi undersöker inte företagarnas preferenser, det vill säga om de föredrar mer internt kapital framför externt kapital när de ska expandera verksamheten, eller om en ökning av det internt uppbyggda kapitalet har en större tillväxteffekt än mer externt kapital.

  • 25.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Landström, Mats
    Dalarna University, School of Technology and Business Studies, Economics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Are central bank independence reforms necessary for achieving low and stable inflation?2013Report (Other academic)
    Abstract [en]

    Using data on the occurence of central bank independence (CBI) reforms in 131 countries during 1980-2005, we test whether they were important in reducing inflation and maintaining price stability. CBI reforms are found to have reduced inflation on average 3.31% when countries with historically high inflation rates are included. But countries with lower inflation have reduced it without institutional reforms granting central banks more independence, undermining the theoretical time-inconsistency case for CBI. There is furthermore no evidence that CBI reforms have helped reduce inflation variability.

  • 26.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Lang, Åsa
    Dalarna University, School of Technology and Business Studies, Business Administration and Management.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Firm growth in the Swedish retail and wholesale industries2013In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507, Vol. 33, no 12, p. 1193-1205Article in journal (Refereed)
    Abstract [en]

    To identify the determinants of firm growth in the Swedish retail and wholesale industries during 2000–2004, we analyse a sample of 400 limited liability companies using quantile regression techniques. Firm growth was mainly found to depend upon time-invariant firm-specific effects, supporting Penrose's [1959. The theory of the growth of the firm (4th ed.). New York: Oxford University Press] suggestion that internal resources such as firm culture, brand loyalty, entrepreneurial skills, and so on are important determinants of firm growth.

  • 27.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Mihaescu, Oana
    Dalarna University, School of Technology and Business Studies, Human Geography. HUI Research.
    Nilsson, Helena
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    What Happens When IKEA Comes to Town?2014Report (Other academic)
    Abstract [en]

    Using data from 2000-2011, the effects of a new IKEA store on retail revenues, employment, and inflow of purchasing power in the entry municipalities, as well as in neighboring municipalities were investigated. A propensity score matching method was used to find non IKEA entry municipalities that were as similar as possible to the entry municipalities based on the situation before entry. Our results indicate that IKEA-entry increased entry-municipality durable-goods revenues by about 20% and employment by about 17%. Only small and, in most cases, statistically insignificant effects were found in neighboring municipalities.

  • 28.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    Mihaescu, Oana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Nilsson, Helena
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    What happens when IKEA comes to town?2017In: Regional studies, ISSN 0034-3404, E-ISSN 1360-0591, Vol. 51, no 2, p. 313-323Article in journal (Refereed)
    Abstract [en]

    The effects of a new IKEA store on retail revenues, employment and inflow of purchasing power in the entry municipalities as well as in neighbouring municipalities were investigated using data from 2000–11. A propensity score-matching method was used to find non-IKEA entry municipalities that were as similar as possible to the entry municipalities based on the situation before entry. The results indicate that IKEA entry increased entry municipality durable goods revenues by about 20% and employment by about 17%. Only small and, in most cases, statistically insignificant effects were found in neighbouring municipalities.

  • 29.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    Mihaescu, Oana
    Dalarna University, School of Technology and Business Studies, Human Geography. HUI Research, Stockholm.
    Nilsson, Helena
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Stockholm.
    When IKEA enters: Do local retailers win or lose?2015Report (Other academic)
    Abstract [en]

    IKEA is one of the world’s largest retailers, but little is known about how IKEA impact incumbent retailers when deciding to enter a local market. Previous studies on the effects of big-box entry on surrounding retailers have also generated inconclusive results, and mainly been focused towards entry of Wal-Mart in the United States. We contribute to this literature by investigating the effects of IKEA entry on revenues and employment for incumbent retail firms in three Swedish municipalities during 2000-2010. Our results indicate that a new IKEA store increases average revenues for incumbent retailers within the entry municipality by 11%, but also that the effect is highly heterogeneous within the municipality. Retailers that were located up to 1 km from IKEA experienced a 26% increase in revenues when IKEA entered the municipality. However, the positive spillover effect of a new IKEA store on retail revenues diminished with the distance to IKEA, and turned insignificant for retailers in the city centers and those that were located 5-10 km from IKEA. The effects on employment were much less pronounced, and in most cases statistically insignificant.

  • 30.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Orth, Matilda
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Opening local retail food stores: a real-options approach2010In: Journal of Industry, Competition and Trade, ISSN 1566-1679, E-ISSN 1573-7012, Vol. 10, no 3-4, p. 373-387Article in journal (Refereed)
    Abstract [en]

    A real-options approach was used, incorporating uncertainty and irreversibility of investments, to study the number of stores entering the Swedish retail food market during the period 1994-2002. It was found that uncertainty affected the entry-decision. Entry was less frequent in highly concentrated local retail food-markets characterized by a high degree of uncertainty, whereas higher profit opportunities seem to have increased the probability of entry.

  • 31.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. Ratio Institute, Stockholm.
    Praski-Stahlgren, Ulrika
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Do high taxes lock-in capital gains?: Evidence from a dual income tax system2010In: Public Choice, ISSN 0048-5829, E-ISSN 1573-7101, Vol. 145, no 1-2, p. 25-38Article in journal (Refereed)
    Abstract [en]

    The purpose of this paper is to study whether investors' willingness to realize capital gains falls when the marginal tax rate on capital gains is raised. We use a rich register-based panel data set covering almost 8% of the Swedish population. The results indicate that a 10% increase in capital gains tax rate reduces the number of realizations of capital gains with 8.7% and the realized amount, given the decision to realize, with 1.9%. In addition, we find that wealthy individuals seem to respond more to changes in capital gains tax rates than less-wealthy.

  • 32.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Regeringsgatan 60, SE -103 29 Stockholm, Sweden.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Regeringsgatan 60, SE -103 29 Stockholm, Sweden.
    Does Shelf-Labeling of Organic Foods Increase Sales?: Results from a Natural Experiment2014In: Journal of Retailing and Consumer Services, ISSN 0969-6989, E-ISSN 1873-1384, Vol. 21, no 5, p. 804-811Article in journal (Refereed)
    Abstract [en]

    Can a simple point-of-purchase (POP) shelf-label increase sales of organic foods? We use a random-effects׳, random-coefficients׳ model, including a time adjustment variable, to test data from a natural experiment in a hypermarket in Gävle, Sweden. Our model incorporates both product specific heterogeneity in the effects of labeling and consumer adjustment to the labels over time. We find that the introduction of POP displays leads to an increase in sales of organic coffee and olive oil, but a reduction in sales of organic flour. All targeted products became less price-sensitive. The results reveal that product specific differences have to be accounted for, and in some cases consumers adjusted to labeling over time.

  • 33. Daunfeldt, Sven-Olov
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Leder högre skatter på kapitalvinster till inlåsningseffekter?2010In: Ekonomisk Debatt, ISSN 0345-2646, Vol. 38, no 2, p. 18-26Article in journal (Refereed)
    Abstract [sv]

    Höga skatter på kapitalvinster kan leda till att investerare blir mindre benägna att realisera sina kapitalvinster. Tidigare studier har använt sig av data från USA och finner att det existerar en inlåsningseffekt, men storleken på effekten varierar mellan studierna. I en ny studie drar Daunfeldt m fl (2010) slutsatsen att högre skatter på kapitalvinster också är förknippade med en inlåsningseffekt i Sverige. Resultaten från studien indikerar att en höjning av kapitalvinstskatten med 10 procent i genomsnitt leder till att antalet realiseringar minskar med nästan 9 procent. Inlåsningseffekten tenderar dessutom att vara större för investerare med beskattningsbar förmögenhet, vilket indikerar att dessa individer i högre utsträckning använder sig av skatteplanering för att undkomma beskattningen av kapitalvinster.

  • 34.
    Daunfeldt, Sven-Olov
    et al.
    The Swedish Retail Institute (HUI) , SE-103 29, Stockholm, Sweden; The Department of Economics , University of Gävle , SE-801 76, Gävle, Sweden.
    Rudholm, Niklas
    The Swedish Retail Institute (HUI) , SE-103 29, Stockholm, Sweden; The Department of Economics , University of Gävle , SE-801 76, Gävle, Sweden.
    Revenues as a Proxy for Profits: A Cautionary Note2009In: Applied Economics Letters, ISSN 1350-4851, E-ISSN 1466-4291, Vol. 16, no 7, p. 679-681Article in journal (Refereed)
    Abstract [en]

    In the entry literature, researchers sometimes use revenues as a proxy for profits because this is the only data available. Doing so could seriously bias the results.

  • 35.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics. Högskolan i Gävle; HUI.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. Swedish Retail Inst HUI, SE-10329 Stockholm, Sweden.
    Rämme, Ulf
    HUI.
    Congestion charges and retail revenues: results from the Stockholm road pricing trial2009In: Transportation Research Part A: Policy and Practice, ISSN 0965-8564, E-ISSN 1879-2375, Vol. 43, no 3, p. 306-309Article in journal (Refereed)
    Abstract [en]

    This paper studies the impact of the Stockholm road pricing trial on retail revenues. The analysis is performed using revenue data from 14 shopping malls, 9 within the tool area and 5 outside the tool area. The data also include revenue data from a sample of retail stores located along the main shopping streets in Stockholm. The results show that the Stockholm road pricing trial did not negatively affect retail revenue, neither in shopping malls nor in the sample of retail stores.

  • 36.
    Daunfeldt, Sven-Olov
    et al.
    Dalarna University, School of Technology and Business Studies, Economics.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Rämme, Ulf
    Congestion charges in Stockholm: how have they affected retail revenues?2013In: Transportmetrica A: Transport Science, ISSN 2324-9935, Vol. 9, no 3, p. 259-268Article in journal (Refereed)
    Abstract [en]

    Did the introduction of congestion charges in Stockholm city reduce retail revenues? Data from 20 shopping malls - 8 within the toll area, and 12 outside the tool area - and from a sample of retail stores located along the main shopping streets was analyzed using an intervention-control approach. Favorable outcomes, such as reduced traffic, less emissions of carbon-dioxide, and perceived improvements in air quality and accessibility, do not seem to have been offset by reduced revenues for retailers located within the toll area.

  • 37. Granlund, David
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Consumer information and pharmaceutical prices: theory and evidence2011In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084, Vol. 73, no 2, p. 230-254Article in journal (Refereed)
    Abstract [en]

    The impact of a reform that increased consumer information on brand name and generic pharmaceutical prices is analysed both theoretically and empirically. The theoretical results show that an increase in information likely reduces the price of brand name pharmaceuticals, while the results regarding generics are less clear. In the empirical part of the article, the introduction of the substitution reform in the Swedish pharmaceuticals market in October 2002 is used as a natural experiment regarding the effects of increased consumer information. The results clearly show that the reform has lowered the price of both brand name and generic pharmaceuticals.

  • 38. Granlund, David
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Does Increased Price Competition Reduce Entry of New Pharmaceutical Products?2011In: Advances in Management and Applied Economics, ISSN 1792-7552, Vol. 1, no 1, p. 1-14Article in journal (Refereed)
    Abstract [en]

    In October 2002 a substitution reform was introduced in the Swedish Pharmaceuticals market. In this paper, the effects of increased price competition due to the reform on the entry of new pharmaceutical products was studied. The results show that the reform did affect the entry behavior of generic manufacturers as they became more prone to enter new package sizes into the market after the reform, but also that there is considerable heterogeneity in entry behavior between different ATC-code groups for both brand name and generic products.

  • 39.
    Granlund, David
    et al.
    Umeå universitet.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    The prescribing physician's influence on consumer choice between medically equivalent pharmaceuticals2012In: Review of Industrial Organization, ISSN 0889-938X, E-ISSN 1573-7160, Vol. 41, no 3, p. 207-222Article in journal (Refereed)
    Abstract [en]

    This paper reports on a study of the prescribing physician's influence on consumers' choice between medically equivalent pharmaceuticals. The study was performed using a dataset of 666,000 observations in which consumers were asked whether they were prepared to pay the price difference in order to obtain the prescribed pharmaceutical instead of the cheapest available substitute. The main results support the hypothesis that prescribing physicians have an impact on consumers' choice between medically equivalent pharmaceutical products.

  • 40. Gåverud, Henrik
    et al.
    Lundgren, Jens
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Ökad efterfrågeflexibilitet nödvändig för en fullständigt avreglerad elproduktionsmarknad2010In: Ekonomisk Debatt, ISSN 0345-2646, Vol. 38, no 1, p. 5-15Article in journal (Refereed)
    Abstract [sv]

    Den svenska elmarknaden omreglerades 1996. Produktion av och handel med el konkurrensutsattes medan elnätsverksamhet, som är ett naturligt monopol, förblev reglerat. Staten är dock än idag en aktör på elproduktionsmarknaden eftersom den systemansvariga myndigheten är ålagd att upphandla en s k effektreserv. Effektreserven förbättrar den kortsiktiga försörjningstrygghetsnivån avseende eleffekt, men riskerar samtidigt att störa marknadens funktion, både på kort och lång sikt. En avveckling av statliga interventioner riskerar dock att skapa större problem än den löser. Fram till dess att mer efterfrågeflexibilitet är aktiverad på elmarknaden kommer en fullständigt avreglerad elproduktionsmarknad att generera en samhällsekonomiskt ineffektivt låg nivå på försörjningstryggheten avseende eleffekt.

  • 41.
    Han, Mengjie
    et al.
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Mihaescu, Oana
    HUI Research, Sweden.
    Li, Yujiao
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research, Sweden.
    Comparison and one-stop shopping after big-box retail entry: a spatial difference-in-difference analysis2018In: Journal of Retailing and Consumer Services, ISSN 0969-6989, E-ISSN 1873-1384, Vol. 40, p. 175-187Article in journal (Refereed)
    Abstract [en]

    This paper empirically measures the potential spillover effects of big-box retail entry on the productivity of incumbent retailers in the entry regions, and investigates whether the effects differ depending on 1) if the entry is in a rural or urban area, and 2) if the incumbent retailers are within retail industries selling substitute or complement goods to those found in IKEA. To identify the IKEA-entry effect, a difference-in-difference model is suitable, but traditionally such estimators neglect the possibility that firms’ sales are determined by a process with spatially interactive responses. If ignored, these responses may cause biased estimates of the IKEA entry effect due to spatial heterogeneity of the treatment effect. One objective of this paper is thus to propose a spatial difference-in-difference estimator accounting for possible spatial spillover effects of IKEA entry. Particular emphasis is placed on the development of a suitable weight matrix accounting for the spatial links between firms, where we allow for local spatial interactions such that the outcome of observed units depends both on their own treatment as well as on the treatment of their neighbors. Our results show that for complementary goods retailers (or one-stop shopping retailers) in Haparanda and Kalmar, productivity increased by 35% and 18%, respectively, due to IKEA entry. No statistically significant effects were found for the entries in Karlstad and Gothenburg, indicating that it is mainly incumbents in smaller entry regions that benefit from IKEA entry. Also, for incumbent retailers selling substitute (or comparison shopping) goods no significant effects were found in any of the entry regions, indicating that it is mainly retailers selling complementary goods that benefit from IKEA entry. Finally, our results also show that ignoring the possibility of spatially correlated treatment effects in the regression models reduces the estimated impact of the IKEA entries in Haparanda and Kalmar on productivity in one-stop shopping retail firms with 3% and 0.1% points, respectively. © 2017 Elsevier Ltd

  • 42.
    Heldt Cassel, Susanna
    et al.
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Rydell, Alexis
    Dalarna University, School of Technology and Business Studies, Occupational science.
    Willingness to commute long distance among job seekers in Dalarna, Sweden2013In: Journal of Transport Geography, ISSN 0966-6923, E-ISSN 1873-1236, Vol. 28, p. 49-55Article in journal (Refereed)
    Abstract [en]

    Previous studies on commuting behavior and willingness towards commuting have analyzed individuals who are active in the workforce and have largely focused on larger metropolitan regions. This paper presents results from a survey of unemployed job seekers in the county of Dalarna, Sweden and analyzes the differences in willingness towards long-distance commuting between individuals with different socio-economic situations and experiences of unemployment. The analysis is conducted through a linear probability model complemented with a logistic regression model. Conclusions are drawn on the socio-economic factors that influence the probability of an individual’s willingness to commute longer than 40 minutes. The analysis also takes interaction between different factors into account. The study concludes that the factors influencing the willingness to commute are gender, level of education, and the presence of children in the household. Furthermore, the interactions between age and length of unemployment, age and educational level, and age and gender are shown to be significant in the willingness to commute long distances.

  • 43. Hellström, Jörgen
    et al.
    Lundgren, Jens
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Multinational Electricity Market Integration and Electricity Price Dynamics.2008In: Proceedings of the EEM 2008, Lissabon, 2008Conference paper (Refereed)
    Abstract [en]

    The paper empirically explores the electricity price dynamics in the Nordic power market, Nord Pool. In particular, the focus is on determining what effect the multinational market integration, during the years 1996-2006, has had on the conditional mean electricity price, its volatility, the price jump-intensity and the price jump size. Empirically the study reveals that the conditional mean electricity price increased when Finland joined, and remained at the higher level when Denmark also joined. Turning to the price volatility, this increased when Finland joined, but decreased when Denmark also joined. However, the price jump-intensity decreased both when Finland and Denmark joined the market. This means that a larger electricity market seems to reduce the probability of sudden price jumps. That is, the multinational electricity market integration seems to have created a market that handles external shocks to supply and demand more efficient than the separate national electricity markets previously did.

  • 44. Hellström, Jörgen
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Advertising as a signaling device: simulated maximum likelihood estimation of a multiple random effects count data model2008In: Economics Letters, ISSN 0165-1765, E-ISSN 1873-7374, Vol. 101, no 3, p. 227-229Article in journal (Refereed)
    Abstract [en]

    The paper empirically studies whether pharmaceutical firms uses advertising as a signal for high quality drugs. A multiple random effects count data hurdle model is specified and a simulated maximum likelihood estimation approach is developed and utilized in the empirical analysis.

  • 45. Hellström, Jörgen
    et al.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Uncertainty in the generic versus brand name prescription decision2010In: Empirical Economics, ISSN 0377-7332, E-ISSN 1435-8921, Vol. 38, no 3, p. 503-521Article in journal (Refereed)
    Abstract [en]

    This paper analyzes the impact of uncertainty concerning product quality of generic drugs on the substitution behavior of prescribing physicians. It is shown that uncertainty about the generic drug quality gives the physician a value of waiting for more information before switching to the generic version. In addition, it is shown that reducing the approval requirements for generic drugs, thereby increasing uncertainty about quality, may discourage physicians from prescribing such drugs. An empirical study testing the theoretical predictions is presented at the end of the paper.

  • 46.
    Huq, Asif
    et al.
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics.
    Hartwig, Fredrik
    Dalarna University, School of Technology and Business Studies, Business Administration and Management. Högskolan i Gävle.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    Does voluntary audit increase small firm growth?: Evidence from a natural experiment2017In: EAA 2017 Abstracts, 2017Conference paper (Refereed)
    Abstract [en]

    Many European countries have abolished mandatory audits for small firms, but we still lack knowledge on whether this affects small firm growth. A Swedish reform in 2010 made audits voluntary for small firms fulfilling certain requirements, while firms that did not meet these requirements still had mandatory audits. We argue that this regulatory change created an almost perfect natural experiment, which can be exploited to evaluate the effects of the reform on employment growth using a difference-in-difference estimator. Our results show that firms who fulfil the requirements for voluntary auditing, as compared to a control group of firms that does not, increased their employment growth rates by on average 0.39%, corresponding to 5 500 jobs being created in the three years following the reform. It thus seems that voluntary audits are reducing the regulatory burden for small firms, making resources available that can be used to increase the number of employees. The current threshold levels for mandatory audits are still significantly lower in Sweden than in most other European countries, which implies that the policymakers in Sweden could create more jobs in small and medium-sized firms if they increased the size threshold levels for mandatory audits.

  • 47.
    Huq, Asif
    et al.
    Dalarna University, School of Technology and Business Studies, Microdata Analysis.
    Daunfeldt, Sven-Olov
    Dalarna University, School of Technology and Business Studies, Economics.
    Hartwig, Fredrik
    Dalarna University, School of Technology and Business Studies, Business Administration and Management.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics.
    The effect of audit reform on the employment growth of small Swedish limited companies: A natural experiment2017Conference paper (Refereed)
    Abstract [en]

    Reducing the regulatory burden for firms will free resources that can be used for productive investments. In this paper, we investigate the effect of a change in regulations, in effect abolishing statutory audits for Swedish micro firms in November 2010, on employment growth in the affected micro firms. The changes in regulations created what we argue is an almost perfect natural experiment that can be exploited to evaluate the effects of the reform on employment growth using a difference-in-difference estimator. Our results show that employment growth is higher in firms which fulfil the requirements for voluntary auditing as compared to a control group of firms of similar sizes that does not, and the positive treatment effect is found for micro firms in all Swedish counties and in all types of industries. We estimate that the reform created 1276 jobs in the three years following the reform. We thus suggest that the current threshold for statutory audits should be increased in Sweden, whose threshold levels for statutory audits are significantly lower than in most other European countries even after the 2010 changes in regulations. Such a regulatory change would, in all likelihood, lead to employment growth in the affected firms. 

  • 48.
    Håkansson, Johan
    et al.
    Dalarna University, School of Technology and Business Studies, Information Systems. Dalarna University, School of Technology and Business Studies, Human Geography.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Firm migration in the Swedish wholesale trade sector2013In: International Review of Retail Distribution & Consumer Research, ISSN 0959-3969, E-ISSN 1466-4402, Vol. 23, no 1Article in journal (Refereed)
    Abstract [en]

    This paper analyzes the determinants of firm migration in the Swedish wholesale trade sector using a unique dataset covering over 10,000 Swedish wholesale trade firms during the years 2000 to 2004. The results indicate that there are negative correlations between profits, firm age, and firm size and the probability of firm migration. There is a positive correlation between firm growth in the previous year and firm migration, indicating that growth opportunities that cannot be realized at the present location are an important motivation for migration.

  • 49.
    Håkansson, Johan
    et al.
    Dalarna University, School of Technology and Business Studies, Human Geography. Dalarna University, School of Technology and Business Studies, Information Systems.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Predicting entry of Swedish wholesale firms into local markets2013Report (Other academic)
    Abstract [en]

    Applying microeconomic theory, we develop a forecasting model for firm entry into local markets and test this model using data from the Swedish wholesale industry. The empirical analysis is based on directly estimating the profit function of wholesale firms. As in previous entry studies, profits are assumed to depend on firm- and location-specific factors,and the profit equation is estimated using panel data econometric techniques. Using the residuals from the profit equation estimations, we identify local markets in Sweden where firm profits are abnormally high given the level of all independent variables included in the profit function. From microeconomic theory, we then know that these local markets should have higher net entry than other markets, all else being equal, and we investigate this in a second step,also using a panel data econometric model. The results of estimating the net-entry equation indicate that four of five estimated models have more net entry in high-return municipalities, but the estimated parameter is only statistically significant at conventional levels in one of our estimated models.

  • 50.
    Håkansson, Johan
    et al.
    Dalarna University, School of Technology and Business Studies, Information Systems. Dalarna University, School of Technology and Business Studies, Human Geography.
    Macuchova, Zuzana
    Dalarna University, School of Technology and Business Studies, Human Geography.
    Rudholm, Niklas
    Dalarna University, School of Technology and Business Studies, Economics. HUI Research.
    Predicting entry of Swedish wholesale firms into local markets2014In: International Review of Retail Distribution & Consumer Research, ISSN 0959-3969, E-ISSN 1466-4402Article in journal (Refereed)
    Abstract [en]

    Applying microeconomic theory, we develop a forecasting model for firm entry into local markets and test this model using data from the Swedish wholesale industry. The empirical analysis is based on directly estimating the profit function of wholesale firms. Profits are assumed to depend on firm- and location-specific factors, and the profit equation is estimated using panel data econometric techniques. Using the residuals from the profit equation estimations, we identify local markets in Sweden where firm profits are abnormally high given the level of all independent variables included in the profit function. From microeconomic theory, we then know that these local markets should have higher net entry than other markets, all else being equal, and we investigate this in a second step, also using a panel data econometric model. The results of estimating the net-entry equation indicate that 19 out of 30 estimated models have more net entry in high-return municipalities, but the estimated parameter is only statistically significant at conventional levels in one of our estimated models, and then with an unexpected negative sign.

12 1 - 50 of 58
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