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Empirical Economics
Erschienen in: Empirical Economics 3/2019

30.05.2018

Firm financial performance in Sub-Saharan Africa: the role of ethnic diversity

verfasst von: Sefa Awaworyi Churchill

Erschienen in: Empirical Economics | Ausgabe 3/2019

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Abstract

Using data from Sub-Saharan Africa, this research note examines the effect of ethnic and linguistic diversity on firms’ financial performance. We measure diversity using indices of fractionalization based on the Herfindahl-type formula and find evidence of a strong positive effect of diversity on firm performance indicators such as total revenue, dividends, earnings before interest and tax, net sales/turnover and return on assets and total factor productivity. We argue that the positive effect is driven by the influence of ethnic diversity on important channels such as innovation and entrepreneurship. Our results are robust to alternative measures of fractionalization and endogeneity.
Vorheriger Artikel Statistical and economic evaluation of time series models for forecasting arrivals at call centers
Nächster Artikel On measuring economic growth from outer space: a single country approach

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Fußnoten
1
Exceptions include Awaworyi Churchill et al. (2017) which examine the relationship in the context of Chinese firms, and Awaworyi Churchill (2017) which examines effects of ethnic diversity on the performance of microfinance institutions.
 
2
We deflate monetary variables with the Consumer Price Index (CPI).
 
3
See Wang and Steiner (2015) and Awaworyi Churchill (2017) for discussions on validity of instruments.
 
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Metadaten
Titel
Firm financial performance in Sub-Saharan Africa: the role of ethnic diversity
verfasst von
Sefa Awaworyi Churchill
Publikationsdatum
30.05.2018
Verlag
Springer Berlin Heidelberg
Erschienen in
Empirical Economics / Ausgabe 3/2019
Print ISSN: 0377-7332
Elektronische ISSN: 1435-8921
DOI
https://doi.org/10.1007/s00181-018-1463-2

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