spikes. We find that the spikes are predominantly financed with debt by large firms and by new equity by small loss …-making firms. In the process, firms move significantly away from their previous capital structures but then revert back to them by …

data. The paper also finds that the organization of firms has important macroeconomic implications. In particular …

Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate … opposite is true when minority shareholders hold a substantial fraction of the firm’s equity. In the analysis, we distinguish …

1604 firms in the five largest Norwegian city-regions to test, by means of a logit regression analysis, Jensen et al … effect on a firm’s propensity to innovate. Collaboration with extra-regional agents is much more conducive to innovation than …

and financial firms during the early 2000s; b) there was no visible increase for commercial banks and non-financial firms …

. We present insights from two classes of experiments: within and across firms, and draw common lessons from both sets …. Field experiments within firms generally aim to shed light on the nature of agency problems. Along these lines, we discuss …-monetary incentives. Field experiments across firms generally aim to uncover firms' binding constraints by exogenously varying the …

We analyse investment behaviour of the population of medium and large industrial firms located in the Czech Republic in … ownership-legal form categories of firms. By using a large panel of quarterly observations, we eliminate biases introduced by … data aggregation and selectivity, reduce measurement error, take into account heterogeneity across firms and over time, and …

-competitive trade model to examine how the liberalization of product and factor markets affects the ownership structure of firms. In our … model, managers decide whether or not to integrate their firms, trading off the pecuniary benefits of coordinating … when firms do not relocate across countries, the price changes triggered by liberalization of product markets can lead to …

generation. Firms, as controlled idea exchange systems, can reward idea generation but can do so only by restricting their … between markets and firms. …

We examine the sales of French manufacturing firms in 113 destinations, including France itself. Several regularities … stand out: (1) the number of French firms selling to a market, relative to French market share, increases systematically … method of simulated moments. The results imply that nearly half the variation across firms that we see in market entry can be …