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The Commitment Role of Equity Financing
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - CESifo - 2014
Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...
Persistent link: https://www.econbiz.de/10010877665
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Estimated U.S. Manufacturing Production Capital and Technology Based on an Estimated Dynamic Economic Model
Chen, Baoline; Zadrozny, Peter A. - CESifo - 2005
Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except …
Persistent link: https://www.econbiz.de/10005765979
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Dynamic Models of R&D, Innovation and Productivity: Panel Data Evidence for Dutch and French Manufacturing
Raymond, Wladimir; Mairesse, Jacques; Mohnen, Pierre; … - CESifo - 2013
This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … conditional mean of labor productivity: through an observed binary indicator, an observed intensity variable or through the … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and …
Persistent link: https://www.econbiz.de/10010670799
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Intra- and Inter-Industry Productivity Spillovers in OECD Manufacturing: A Spatial Econometric Perspective
Badinger, Harald; Egger, Peter - CESifo - 2008
We adopt a spatial econometric approach to estimate intra- and inter-industry productivity spillovers in total factor … productivity transmitted through input-output relations in a sample of 13 OECD countries and 15 manufacturing industries. Both R …
Persistent link: https://www.econbiz.de/10005406424
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How Far Away is an Intangible? Services FDI and Distance
Davies, Ronald B.; Guillin, Amélie - CESifo - 2011
Foreign direct investment (FDI) in services has grown significantly in recent years. Evidence of spatial relationships in FDI decisions have been provided for goods manufacturing by utilizing physical distance-based measures of trade costs. This paper investigates spatial interactions for...
Persistent link: https://www.econbiz.de/10009325809
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China's Outward FDI: An Industry-level Analysis of Host Country Determinants
Amighini, Alessia; Rabellotti, Roberta; Sanfilippo, Marco - CESifo - 2011
We provide an empirical analysis of host country determinants of Chinese outward FDI for the period 2003 to 2008, using data disaggregated by country and industry. We want to assess the relevance of market-seeking, resource-seeking and strategic asset seeking motivations suggested by the theory...
Persistent link: https://www.econbiz.de/10009391727
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Unionized Oligopoly, Trade Liberalization and Location Choice
Lommerud, Kjell Erik; Meland, Frode; Sørgard, Lars - CESifo - 2002
In a two-country reciprocal dumping model, with one country unionized, we analyze how wage setting and firm location are influenced by trade liberalization. We show that trade liberalization can induce FDI, which is at odds with conventional theoretical wisdom and cannot happen in a...
Persistent link: https://www.econbiz.de/10005765753
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Preference Bias and Outsourcing to Market: A Steady-State Analysis
Wang, Ping; Riezman, Raymond - CESifo - 2008
We analyze a model that focuses on the export/outsource decision. Outsourcing has the advantage of providing better information about local preferences. The disadvantage is that producing in the host country also means using the inferior technology embodied in the local capital. The decision of...
Persistent link: https://www.econbiz.de/10005766074
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Unionisation Triggers Tax Incentives to Attract Foreign Direct Investment
Haufler, Andreas; Mittermaier, Ferdinand - CESifo - 2008
This paper analyses tax competition between a unionised and a non-unionised country for the location of an outside firm. We show that unionisation offers an extra incentive for the government to attract a foreign competitor to a concentrated domestic market, in order to affect the behaviour of...
Persistent link: https://www.econbiz.de/10005094206
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FDI and Taxation: A Meta-Study
Feld, Lars P.; Heckemeyer, Jost Henrich - CESifo - 2009
Despite the continuing political interest in the usefulness of tax competition and tax coordination as well as the wealth of theoretical analyses, it still remains open whether or when tax competition is harmful. Moreover, the influence of tax differentials on multinationals’ decisions is...
Persistent link: https://www.econbiz.de/10005094318