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A Comparison of Qualitative and Quantitative Firm Performance Measures

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  • Fabling, Richard

    (Reserve Bank of New Zealand)

  • Grimes, Arthur

    (Motu Economic & Public Policy Research)

  • Stevens, Philip

    ()
    (Ministry of Economic Development, New Zealand)

Abstract

Many analyses of firm performance are based upon self-reported measures. However, not only are these likely to be more subject to general reporting error than alternative official sources, but also measures of relative performance may be subject to the biases observed in the psychology literature. In this paper we consider both absolute and relative performance, reported in the Business Operations Survey (BOS), with alternative measures taken from administrative sources, brought together under the Improved Business Understanding via Longitudinal Database Development (IBULDD) project in the prototype Longitudinal Business Database (LBD). Our results suggest that there is much commonality in the picture we see using either administrative (tax) or quantitative survey data, giving us some comfort that the tax data, while not collected for statistical purposes, serves as well as a tool for measuring firm performance. However, there are many differences also, in particular when we consider reported profits.

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Bibliographic Info

Paper provided by Ministry of Economic Development, New Zealand in its series Occasional Papers with number 08/4.

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Length: 62 pages
Date of creation: May 2008
Date of revision:
Handle: RePEc:ris:nzmedo:2008_004

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Related research

Keywords: Micro data; subjective data; firm performance; labour productivity;

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References

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  1. Charles BROWN & Charles BROWN, 1996. "Employer Characteristics and Work Environment," Annales d'Economie et de Statistique, ENSAE, ENSAE, issue 41-42, pages 275-298.
  2. Cooper, Arnold C. & Woo, Carolyn Y. & Dunkelberg, William C., 1988. "Entrepreneurs' perceived chances for success," Journal of Business Venturing, Elsevier, vol. 3(2), pages 97-108.
  3. Machin, Stephen J & Stewart, Mark B, 1990. "Unions and the Financial Performance of British Private Sector Establishments," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 5(4), pages 327-50, Oct.-Dec..
  4. John Bound & Alan B. Krueger, 1989. "The Extent of Measurement Error In Longitudinal Earnings Data: Do Two Wrongs Make A Right?," NBER Working Papers 2885, National Bureau of Economic Research, Inc.
  5. Joel L. Horowitz & Charles F. Manski, 1996. "Censoring of Outcomes and Regressors Due To Survey Nonresponse: Identification and Estimation Using Weights and Imputations," Econometrics, EconWPA 9602007, EconWPA, revised 06 Mar 1996.
  6. Fabling, Richard & Grimes, Arthur & Sanderson , Lynda & Stevens, Philip, 2008. "Some Rise by Sin, and Some by Virtue Fall: Firm Dynamics, Market Structure and Performance," Occasional Papers, Ministry of Economic Development, New Zealand 08/1, Ministry of Economic Development, New Zealand.
  7. Fabling, Richard & Grimes, Arthur & Stevens, Philip, 2008. "A Comparison of Qualitative and Quantitative Firm Performance Measures," Occasional Papers, Ministry of Economic Development, New Zealand 08/4, Ministry of Economic Development, New Zealand.
  8. Nigel Pain & Dawn Holland, 1998. "The Diffusion Of Innovations In Central And Eastern Europe: A Study Of The Determinants And Impact O," NIESR Discussion Papers, National Institute of Economic and Social Research 205, National Institute of Economic and Social Research.
  9. Richard B. Fabling & Arthur Grimes, 2007. "Practice Makes Profit: Business Practices and Firm Success," Small Business Economics, Springer, Springer, vol. 29(4), pages 383-399, December.
  10. Fabling, Richard, 2007. "Just How Innovative are New Zealand Firms? Quantifying & Relating Organisational and Marketing Innovation to Traditional Science & Technology Indicators," Occasional Papers, Ministry of Economic Development, New Zealand 07/4, Ministry of Economic Development, New Zealand.
  11. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
  12. Dean R. Hyslop & Guido W. Imbens, 2000. "Bias from Classical and Other Forms of Measurement Error," NBER Technical Working Papers, National Bureau of Economic Research, Inc 0257, National Bureau of Economic Research, Inc.
  13. Akerlof, George A & Yellen, Janet L, 1985. "Unemployment through the Filter of Memory," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 100(3), pages 747-73, August.
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Citations

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Cited by:
  1. Arthur Grimes & Cleo Ren & Philip Stevens, 2012. "The need for speed: impacts of internet connectivity on firm productivity," Journal of Productivity Analysis, Springer, Springer, vol. 37(2), pages 187-201, April.
  2. Les Oxley & Shangqin Hong & Philip McCann, 2013. "Why Size Maters: Investigating the Drivers of Innovation and Economic Performance in New Zealand using the Business Operation Survey," Working Papers in Economics, University of Waikato, Department of Economics 13/13, University of Waikato, Department of Economics.
  3. Fabling, Richard & Grimes, Arthur & Stevens, Philip, 2008. "A Comparison of Qualitative and Quantitative Firm Performance Measures," Occasional Papers, Ministry of Economic Development, New Zealand 08/4, Ministry of Economic Development, New Zealand.
  4. Fabling, Richard & Grimes, Arthur & Sanderson , Lynda & Stevens, Philip, 2008. "Some Rise by Sin, and Some by Virtue Fall: Firm Dynamics, Market Structure and Performance," Occasional Papers, Ministry of Economic Development, New Zealand 08/1, Ministry of Economic Development, New Zealand.
  5. Mok, Penny & Mason, Geoff & Stevens, Philip & Timmins, Jason, 2012. "A Good Worker is Hard to Find: Skills Shortages in New Zealand Firms," Occasional Papers, Ministry of Economic Development, New Zealand 12/5, Ministry of Economic Development, New Zealand.
  6. Kaye-Blake, William & Flagler, Bette & Campbell, Rachel, 2012. "Business Strategies and Employment Decisions: Interviews with New Zealand Firms," Occasional Papers, Ministry of Economic Development, New Zealand 12/4, Ministry of Economic Development, New Zealand.

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