This paper provides a microeconometric analysis of the distinctive characteristics of springboard subsidiaries that have a positive impact on the subsidiaries' performance. Based on panel data estimations for subsidiaries of European multinational companies with a presence in Spain, the authors...

We analyze the stochastic properties of three measures of profitability, return on assets (ROA), return on equity (ROE), and return on investment (ROI), using a balanced panel of US firms during the period 2001–2010. We employ a panel unit-root approach, which assists in identifying...

This study focuses on the persistence of innovation in a panel of Spanish manufacturing firms for the period 1990–2008. In particular, we analyse whether persistence in firms’ innovation activities over time is the result of previous experience, the dynamic capabilities of the firm or...

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts to answer the question what the direction and strength of this possible impact is, examining the relationship between corporate investment and inflation on the sample of 21 OECD...

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts to answer the question what the direction and strength of this possible impact is, examining the relationship between corporate investment and inflation on the sample of 21 OECD...

Since the 1980s OECD investment-saving correlations – as an inverse measure of economic openness – indicate a very wide disparity of openness between the OECD and emerging market economies (EMEs) with an absence of open markets in the latter. Given the increasing weight of EMEs in the world...

Zwischen 2008 und 2009 wurde Deutschland vom dramatischsten ökonomischen Schock seit der Großen Weltwirtschaftskrise 1929 erfasst. Im Gegensatz zu anderen betroffenen Staaten blieb der Arbeitsmarkt weitestgehend entspannt. Dieses Phänomen bezeichnete Paul Krugman im Herbst 2009 als...

This paper describes the coverage and representativeness of Orbis, a commercial database of firm-level records across many countries. Such databases can provide key insights into global economic trends and shed light on how policies affect firms within and across countries. As a benchmark, the...

We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....

This empirical study analyzes the information and predictive content of the Baltic Dry Index (BDI) with respect to a range of financial assets and the macroeconomy. By using panel methodological approaches and daily data spanning the period 1985–2012, the empirical analysis documents the joint...