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Financial Conditions and Investment during the Transition: Evidence from Czech Firms

Lizal, Lubomir; Svejnar, Jan - EconWPA - 2001

In this paper, we examine net investment during the early stages of transition using micro data on the population of medium and large industrial firms in the Czech Republic during the 1992-95 period. We examine the relevance of alternative models of investment and test if investment behavior...

Persistent link: https://www.econbiz.de/10005407697

INFORMATION TECHNOLOGY AND THE PRODUCTIVITY PARADOX:EMERGING EVIDENCE FROM THE AFRICAN ECONOMIES

NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2004

Technological progress is considered as a source of growth and productivity gains for national economies. Thus, understanding the factors that determine the diffusion of new technologies across countries is important to understanding the process of economic development. This project therefore...

Persistent link: https://www.econbiz.de/10005118610

Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatization

Kocenda, Evzen - EconWPA - 2002

This paper works with a broad data sample of Czech voucher-privatized firms during 1996 - 1999. It analyzes the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest...

Persistent link: https://www.econbiz.de/10005556293

Firms' Dynamic Adjustment to Target Capital Structures in Transition Economies

Haas, R.T.A. de; Peeters, H.M.M. - EconWPA - 2004

We study the capital structure dynamics of Central and Eastern European firms in order to get a better understanding of the quantitative and qualitative development of the financial systems in this region. The dynamic model we use endogenizes the target leverage as well as the adjustment speed...

Persistent link: https://www.econbiz.de/10005134833

Firms’ technological trajectories and the creation of foreign subsidiaries

Castellani, Davide - EconWPA - 2001

Multinational firms are traditionally considered as firms possessing some technological lead and exploiting this proprietary advantage in international markets, but a growing literature has been arguing that multinational firms set up foreign subsidiaries not only as a means to exploit their own...

Persistent link: https://www.econbiz.de/10005062587

UNDERSTANDING THE DETERMINANTS OF ICTS DIFFUSSION IN ECOWAS

NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2004

The Information and Communication technology(ICT) environment in the economic community of west african states(ECOWAS) has changed sufficiently to warrant re-conceptualization of the earlier initiatives. Notably, many new technologies have emerged, especially in the area of wireless...

Persistent link: https://www.econbiz.de/10005118855

Barriers and Optimal Investment

Saphores, Jean-Daniel - EconWPA - 2004

This paper analyzes the impact of different types of barriers on the decision to invest using a simple framework based on stochastic discount factors. Our intuitive approach proposes an alternative to the real options methodology that does not rely on the “smooth-pasting condition.” An...

Persistent link: https://www.econbiz.de/10005408247

A learning hypothesis of the term structure of interest rates

Romhányi, Balázs - EconWPA - 2005

Recent empirical results about the US term structure are difficult to reconcile with the classical hypothesis of rational expectations even if time-varying but stationary term premia are allowed for. A hypothesis of rational learning about the conditional variance of the log pricing kernel is...

Persistent link: https://www.econbiz.de/10005412568

Cognitive Uncertainty in Games - A Note on Limited Information Processing and Backward Induction

Clausing, Thorsten - EconWPA - 2000

A notion of cognitive uncertainty is introduced as an agent's uncertainty about the validity of the results of his own … shown how cognitive uncertainty may prevent a group of well informed rational agents from playing backward induction in a … game of perfect information, whereas they would play backward induction without such uncertainty. …

Persistent link: https://www.econbiz.de/10005118647

Introduction to Market Microstructure

EKINCI, Cumhur - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005134945