Time-Varying Network Connectedness Between the Organizational Ecology of Transportation and Storage Firms and Macroeconomic Variables

Tuncer Murathan (), Akbulut Nesrin (), Turhan Miraç Savaş () and Yakup Ari
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Tuncer Murathan: M.Sc., Department of Business Administration, Alanya Alaaddin Keykubat University, Turkey
Akbulut Nesrin: M.Sc., Department of Economics, Alanya Alaaddin Keykubat University, Turkey
Turhan Miraç Savaş: Ph.D., Department of Business Administration, Alanya Alaaddin Keykubat University, Turkey

Folia Oeconomica Stetinensia, 2022, vol. 22, issue 2, 209-223

Abstract: Research background: Environmental factors are not adequately addressed in organizational ecology studies. At the same time, it is known that the theory has not received enough attention except for North America, which is the emerging point. Purpose: We aim to examine macroeconomic connectedness between the organizational ecology of transportation and storage firms and macroeconomic variables such as price and production indexes. Research methodology: This paper discusses the relation among the following variables within the framework of macroeconomic connectedness via organizational ecology theory. The variables are FOUNDINGS, DISBANDINGS, TRNSP-CPI, PPI IPI and ENERGY. We use the TVP-VAR based Diebold-Yılmaz Connectedness approach in the analysis of the data. Results: DISBANDING is the net transmitter throughout the entire period. FOUNDING is mainly a net shock receiver during the COVID-19 period and transmitter in other periods. TRANS-CPI and PPI are risk receivers throughout the entire period, and even the shocks they transmit increased in the post-2018 period. ENERGY and IPI are in shock receiver status throughout the entire period. The received shocks of IPI from others have decreased with the effect of the lockdown experienced during the COVID-19 period. Novelty: The investors can hedge against risk by looking at industry production capacity and the number of firm closures, considering the net bilateral link between the indices, and calculating the appropriate time period for establishing a firm. Connectedness indices vary considerably over the sampling period, which indicates that investors must dynamically adjust their position in the industry.

Keywords: Diebold-Yılmaz Connectedness; Organizational ecology; Organizational foundings and disbandings; Transportation and Storage; TVP-VAR (search for similar items in EconPapers)
JEL-codes: C11 C22 D22 M10 M20 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:22:y:2022:i:2:p:209-223:n:6

DOI: 10.2478/foli-2022-0027

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