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  • The Export Behaviour of Small and Medium Sized Firms: Evidence From UK Data

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    This paper examines the factors that impact small and medium sized UK manufacturing firms' decisions to enter exporting and the intensity of their exports. The empirical results show that more innovative firms with high levels of human capital and links to universities are more likely to export and export more intensely. Entry costs are also found to significantly impact the exporting decision. Firm size is not found to be an important factor for either entry or intensity, suggesting scale economies do not influence UK SME export behavior. Exchange rate volatility is found to have a positive effect on export intensity, supporting theories of export behavior related to option value.

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    Gourlay

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    This paper examines the factors that impact small and medium sized UK manufacturing firms' decisions to enter exporting and the intensity of their exports. The empirical results show that more innovative firms with high levels of human capital and links to universities are more likely to export and export more intensely. Entry costs are also found to significantly impact the exporting decision. Firm size is not found to be an important factor for either entry or intensity, suggesting scale economies do not influence UK SME export behavior. Exchange rate volatility is found to have a positive effect on export intensity, supporting theories of export behavior related to option value.

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    © All Rights Reserved
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    10 views1 page

    The Export Behaviour of Small and Medium Sized Firms: Evidence From UK Data

    Uploaded by

    Surbhi Goyal
    This paper examines the factors that impact small and medium sized UK manufacturing firms' decisions to enter exporting and the intensity of their exports. The empirical results show that more innovative firms with high levels of human capital and links to universities are more likely to export and export more intensely. Entry costs are also found to significantly impact the exporting decision. Firm size is not found to be an important factor for either entry or intensity, suggesting scale economies do not influence UK SME export behavior. Exchange rate volatility is found to have a positive effect on export intensity, supporting theories of export behavior related to option value.

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    The Export Behaviour of Small and Medium Sized

    Firms: Evidence from UK Data

    Adrian Gourlay
    Department of Economics, Loughborough University, Loughborough, United
    Kingdom, LE11 3TU

    Abstract
    This paper examines the factors that impact on the probability of entry into exporting
    and on the intensity of exports. Using a unique panel of Small and Medium Sized
    (SME) U.K. manufacturing firms constructed using survey techniques, we test for the
    role of firm characteristics, entry costs and university links. The empirical results
    indicate that more innovative firms with high levels of human capital and links with
    universities are more likely to export and export more intensely. Entry costs are also
    found to be significant for the exporting decision. Firm size is not found to be
    important for both entry and intensity decisions, suggesting that scale economies are
    not important for shaping export behaviour in U.K. SMEs. Further, we find that
    exchange rate volatility has a positive effect on export intensity, indicating support for
    value-option theories of export behaviour.

    Key words: United Kingdom, Export behaviour, Firm level


    JEL Classification: L1, C23, C24, C25

    Corresponding author. Tel. +44 (0) 1509 222713. Fax. +44 (0) 1509 223910. Email:
    a.r.gourlay@lboro.ac.uk

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