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International Journal of Contemporary Business Studies Vol: 4, No: 6 JUNE, 2013 ISSN 2156-7506 Available online at http://w w w.akpinsight.webs.com in foreign firms (8.0) followed by firms in public sector with foreign collaboration (3.92) and public sector (3.32) (Table 7). Table 7 Productivity & TFP by Form of Ownership, Listed & Legal Status of the Firm Characteristics Listing Status Per worker productivity Capital productivity Per hour productivity Labor& capital 9 productivity TFP (output) TFP (revenue) Mean Mean Mean Mean Mean Mean Listed 10205.78 13.49159 2.613061 1.347742 1.422789 1.391607 Non-listed 4830.771 21.05271 2.154687 1.436034 1.212401 1.206543 Form of Ownership Page | 23 Public sector 8694.756 62.80628 3.322012 2.617744 1.220359 1.238207 Public sector with foreign collaboration 7918.842 52.11933 3.92501 2.633805 1.441858 1.419194 Private owned 4770.96 16.69668 2.016766 1.289532 1.214661 1.206768 Private with foreign 7725.826 10.61511 2.990508 1.783943 1.509218 1.444134 collaboration Foreign controlled 29216.71 15.2125 8.004033 3.977313 1.74929 1.729574 Type of Legal Organization Individual ownership 2865.414 25.1198 1.342671 1.006207 1.180671 1.182436 Partnership 5830.436 28.74273 2.915484 2.232791 1.221533 1.219421 Private limited company 5564.098 15.88199 2.211814 1.184403 1.272174 1.249644 Public limited company 7075.109 5.823693 1.705747 0.823608 1.19033 1.200156 Cooperative Society 2180.228 5.083103 0.921816 0.746099 1.329568 1.331208 State owned 1494.828 7.87336 0.273109 0.243172 1.223973 1.342917 Others 3247.527 13.99605 1.501317 1.20873 1.162629 1.149257 Source: CMI 2005-06, Pakistan Bureau of Statistics Foreign firm also leads in combined measure of labor and capital productivity (3.98) followed by Public sector with foreign collaboration (2.63). Per worker productivity of Public limited company is the highest stands at Rs. 7075, followed by partnership Rs. 5830, private limited company (5564). Capital productivity is highest in partnership (28.7) followed by individual ownership (25.1) and private limited 9 The total number of hours worked and capital stock have been added to obtain a combined measure of labor & capital. C opyright © 2 0 13. A cademy of Knowledge P rocess
International Journal of Contemporary Business Studies Vol: 4, No: 6 JUNE, 2013 ISSN 2156-7506 Available online at http://w w w.akpinsight.webs.com company (15.9). TFP output and revenue based is highest in cooperative societies (1.33) followed by private limited companies (1.27 & 1.25) (Table 7). The various measures of productivity, and total factor productivity (TFP) by major industry groups are summarized in ( Page | 24 Table 8). Firms operating in coke and petroleum, being capital intensive, industries are predominantly ahead in terms of per worker and per hour productivity. Both measures of TFP also prove these firms more productive as compared to firms in most of other industries. This is in conformity of the findings of the Business Economy Review (2006) according to which labor productivity is likely to be higher intensive industries. Per worker productivity for the firms in food industries is Rs.8014, followed by wearing apparel (Rs.7468), basic metals (Rs.7532), tobacco products (Rs.5347) and electrical machinery (Rs.3818). Productivity of capital is highest for the firms operating in food industries, followed by those in basic metals, petroleum, textile, wearing apparel and wood products. Per hour productivity is highest in food (3.8), wearing apparel (3.1) and basic metals (2.7) and it is lowest in recycling (0.15), non-metallic mineral products (0.46). Combined measure of labor & capital also suggest food and basic metal as dominant industries productivity is 2.9 and 2.1 respectively (Table 8). Output and revenue based TFP is highest for firms in recycling (3.5 each), followed by those in tobacco products (1.93 & 1.94), petroleum (1.93 & 1.83) (Table 8). Firms in the industry groups like machinery & equipment and rubber products have been emerged as the least efficient in terms of TFP. Characteristics Table 8 Productivity & TFP by Major Industry Groups Per worker productivity Capital productivity Per hour productivity Labor& capital productivity TFP (output) TFP (revenue) Mean Mean Mean Mean Mean Mean PSIC Food Products and Beverages 8014.10 44.1599 3.7514 2.8821 1.2784 1.2724 Tobacco Products 5346.87 6.1491 1.4532 0.9909 1.9296 1.9436 Manufacture of Textiles 4469.24 11.4030 1.6194 0.9844 1.1160 1.0929 Wearing Apparel 7467.80 10.7174 3.1756 0.5694 1.3270 1.2997 Tanning and Dressing of Leather, Handbags, Footwear 1717.04 8.3768 0.7038 0.5417 1.1311 1.0677 etc. Wood & Wood Products 4299.70 10.0067 1.5909 1.1292 1.1869 1.2238 Paper & Paper Products 2361.32 7.8322 0.6956 0.4579 1.1341 1.1031 Publishing, Printing & Reproduction 2195.93 10.3419 0.8545 0.5813 1.2746 1.1828 Coke, Petroleum 85866.64 22.2302 30.3277 8.5908 1.9263 1.8273 Chemicals & Chemical Products 3058.36 9.0591 1.0269 0.6569 1.3108 1.2943 Rubber & Plastic Products 2589.90 7.0565 0.9348 0.5757 1.0550 1.0635 Other Non-Metallic Mineral Products 1465.22 3.2997 0.4584 0.2538 1.3236 1.3558 Basic Metals 7532.50 33.7065 2.7360 2.1471 1.1413 1.1500 C opyright © 2 0 13. A cademy of Knowledge P rocess
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