Abstract This paper adds to the literature on capacity utilization at the firm level by considering the influences of institutions. Specifically, we consider the threat of informal competition as a sign of weakness of internal institutions, and corruption as a signal of the weakness of external institutions. The extant literature has generally considered the role of market and technical factors in dictating capacity utilization. Results, using data across more than 100 nations, show that both corruption and informal competition undermine firms' incentives to use capacity maximally. We also consider the role of infrastructure bottlenecks. Our findings showed that water supply constraints and severe electric supply restrictions limited firms’ ability to utilize capacity, but transportation limitations were not similarly binding. Further, firms' attributes, including size, age, ownership structure, and managerial experience have important bearings. An important implication is that firms’ inability to utilize capacity might be rooted in factors beyond technical constraints.

中文翻译：

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新兴经济体公司的产能利用：与基础设施和机构作用相关的一些新见解

摘要 本文通过考虑制度的影响，补充了有关企业层面产能利用率的文献。具体而言，我们认为非正式竞争的威胁是内部制度薄弱的标志，而腐败则是外部制度薄弱的标志。现有文献普遍考虑了市场和技术因素在决定产能利用率方面的作用。使用 100 多个国家/地区的数据得出的结果表明，腐败和非正式竞争都会削弱企业最大限度地利用产能的动力。我们还考虑了基础设施瓶颈的作用。我们的研究结果表明，供水限制和严重的电力供应限制限制了企业利用产能的能力，但运输限制并没有类似的约束力。更多，公司的属性，包括规模、年龄、所有权结构和管理经验，都具有重要意义。一个重要的含义是，企业无法利用产能可能源于技术限制之外的因素。