This paper provides an overview of how globalization can impact on new firm formation and its consequence on regional economic development. Although there is a large body of research on new firm formation, the economic context in which new firm formation takes place has received considerably...

The general motivation for this paper is the current interest in globalization as a phenomenon that strongly affects the conditions of local economic development. Our purpose is to contribute to some of the current development aspects, in particular those that foster the evolution of...

An empirical method to identify the existence of a spatial cluster is proposed. The method, based upon regression analysis, offers researchers to categorise regions, municipalities, or cities with respect to their over- or under-representation in number of establishments and employment for any...

In recent decades the world has witnessed the emergence of a global knowledge economy. For example, the evolution in recent decades of the developed economies has been accompanied by a regional shift in economic activity away from traditional industrial regions to new agglomerations of high...

The purpose of this paper is to discuss the role of entrepreneurship and innovations for economic development in functional regions and in doing that highlighting the different conditions offered for entrepreneurship and innovations in functional regions of various sizes. In conclusion, the...

The entrepreneur is an elusive character in economic theory due to the difficulty of providing an accurate description. It appears impossible to produce a single definition of entrepreneurship and most theoretical approaches yield operational difficulties. By the same token, most operational...

Abstract: Many phenomena in the economy are influenced by geography. The size of new firm start-ups vary in many dimensions, among them industry and geography. The purpose of this paper is to explore the determinants of the geographical distribution of the size of new firms. Re¬gional size...

We examine why firms change their main bank and how this affects loans, interest payments and firm performance after switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and riskier companies are more likely to switch their main...

This paper investigates the determinants of liability maturity choice in transition markets. We formulate a model of ¯rm value maximization that describes managers' choice of optimal debt structure. The theoretical predictions are tested using a unique panel of 4,300 Ukrainian firms during the...

The paper studies the persistence of profit and its determinants in emerging markets. We apply Markov chain analysis, dynamic panel GMM estimation, and quantile regression techniques to a panel of approximately 3,000 Ukrainian companies. The empirical results show a moderate level of profit...