Avarmaa, Mari; Hazak, Aaro; Männasoo, Kadri - In: Journal of Business Economics and Management 14 (2013) 2, pp. 252-275
<title>Abstract</title>This paper investigates the impact of leverage on labour productivity of companies operating in … leverage on labour productivity is non-linear and it differs dramatically between local and multinational companies. In the … case of local companies, at low levels of leverage, an increase in external financing tends to bring along an improvement …