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News
October 8, 2026
HSE Experts Take Part in 23rd Annual Meeting of Valdai Discussion Club
The 23rd Annual Meeting of the Valdai Discussion Club was held from September 28 to October 1, 2026 under the theme ‘Responsibility for the Future: Limits of the Possible, or Limitless Possibilities?’ The forum brought together 120 experts from 40 countries, including representatives of China, the United States, India, Brazil, the United Kingdom, Germany, Egypt, Iran, and Japan.
October 7, 2026
‘Our Team Consists of True Leaders in Their Respective Academic Disciplines
The HSE International Centre of Decision Choice and Analysis studies a wide range of methods for analysing decision-making and possible scenarios for the development of natural, socio-economic, and political phenomena using various mathematical models. The application of advanced mathematical methods to forecasting helps to prevent negative outcomes and avoid erroneous decisions. The HSE News Service spoke to the centre’s director, Prof. Fuad Aleskerov, about its work.
October 6, 2026
International N5 Symposium ‘Neural Networks and Nonlinearity in Nizhny Novgorod Brings Together Scientists from Russia and Serbia
The International N5 Symposium ‘Neural Networks and Nonlinearity in Nizhny Novgorod’ was held at the Nizhny Novgorod House of Scientists from September 23 to 26. The event was organised by HSE University–Nizhny Novgorod and the Nizhny Novgorod House of Scientists, with the participation of Sberbank and the Institute of Physics Belgrade. The symposium was held for the second time: the first conference took place in 2025 and attracted considerable interest from the academic community.

 

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A firm-industry analysis of services versus manufacturing

European Research on Management and Business Economics. 2022. Vol. 28. No. 1. Article 100181.
Fernández E., López-López V., Carlos M.Jardón, Iglesias-Antelo S.

In the literature on the firm-industry debate to explain organizational performance the firm effect has been more supported than the industry effect by empirical studies, mainly focused on manufacturing firms and long time periods. Unfortunately, little attention has been paid to the service sector. In this paper we study separately manufacturing and services in a broad sample of Spanish companies. We observe that in manufacturing the firm effect outweighs the industry effect while in services the opposite is the case in a ten-year period. However, when we split the time horizon into two five-year sub-periods, this behavior only remains in the second one, of moderate economic growth. In the first one, of strong economic growth, the firm effect prevails for both manufacturing and services. These findings underline the importance of the industry effect for services, suggesting that such effect may have been underestimated in the literature, as well as that of the level of economic growth specially for the decision-making of practitioners.

Research target: Economics and Management
Language: English
DOI
Text on another site
Keywords: performancemanufacturingindustry effectServicesFirm effect
Publication based on the results of:
Management of human resources and technologies: challenges of digital native generation (2022)
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