alter the allocation of Gazprom´s gas sales between domestic and export markets. In this paper we use both theoretical and … for Gazprom to induce monopoly power in its export markets. Our main findings suggest that both increased domestic gas … low domestic prices, Gazprom may even have difficulties to carry out its long-term export commitments. However, if export …

This paper investigates the link between the optimal level of non-financial firms' liquid assets and uncertainty. We … in response to changes in either macroeconomic or idiosyncratic uncertainty. We test this hypothesis using a panel of non … increase their liquidity ratios when macroeconomic uncertainty or idiosyncratic uncertainty increases. …

uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic un-certainty … macroeconomic uncertainty increases, firms decrease their levels of leverage. Furthermore, we demonstrate that our results are …

essential for a country's economic growth. Our hypothesis is that foreign-educated leaders attract more FDI to their country …. Our rationale is that education obtained abroad encompasses a whole slew of factors that can make a difference in FDI … significant determinant of FDI inflows, beyond other standard characteristics. While intuitive, this result does not necessarily …

financial frictions arising from asymmetric information, proxied by firms' liquidity and degree of uncertainty. Measures of … intrinsic and extrinsic uncertainty are derived from firms' daily stock returns and S&P 500 index returns along with a CAPM …. Financial frictions captured by interactions between firms' cash flow and both intrinsic and CAPM-based measures of uncertainty …

multinationals' entry and it consists of a unified study of absorptive capacities. We start from the idea that FDI speeds up the … FDI depends on the country specific absorptive capacity. We first interact FDI individually with different growth … determinants and we find that the contribution of FDI to economic growth is positive and significant depending on the level of …