Two important opportunities for accelerating the growth of newly established firms are initial public offerings and acquisitions. This study focuses on the acquisition of a firm and its subsequent transformation into a subsidiary by business groups and investigates how such governance...

We provide causal evidence on the effects of language barriers on the speed and extent of knowledge diffusion by exploiting the introduction of pre-grant publications in the US. Language barriers account for almost half the diffusion lag of Japan-originating knowledge to US-based inventors,...

Recently competition policy has become an important trade policy issue, since many policy makers now see competition policy as an important instrument to secure market access' to foreign markets. This paper analyzes this issue both from a theoretical point of view and from the review of the...