This paper provides new international evidence on the relationship between dividend policy and insider ownership by analysing a sample of firms from countries characterised by an Anglo-Saxon tradition and a matching sample of companies from countries with Civil Law legal systems. We hypothesize...

Prior research has found evidence that some characteristics of the board of directors influence the quality of accounting information (e.g., Beasley, 1996; Dechow et al., 1996; Klein, 2002a; Xie et al., 2003). In this study we extend the literature by analysing a different dimension of accounting information...

In this paper, we investigate whether different business models in the same industry (passenger air transportation) lead to different corporate governance models. We found that low cost carriers (LCCs) organise their boards differently from full service carriers (FSCs), in order to achieve lower...

By means of an endogenous growth model of directed technical change with vertical and horizontal R&D, we study a transitional-dynamics mechanism that is consistent with the changes in the share of the high- versus the low-tech sectors found in recent European data. Under the hypothesis of a...

It is widely recognized that scientific research has a dramatic impact on economies since it is crucial to foster technological knowledge. Today’s migratory movements and concentration of highly educated population and population with high scientific potential in developed countries play an...

In this study we test the trade Global Engagement hypothesis in which firms more globally engaged – either multinationals or exporters – are more innovative. The test is applied to 4818 Portuguese enterprises´ data for the period 2002-2004 through the use of the fourth Portuguese Community...

We propose a new framework to analyse the wage premium behaviour. Building on Acemoglu and Zilibotti (2001), we introduce physical capital and two assumptions: (i) internal costly investment in both capital and R&D; (ii) complementarities between capital goods in production. We find that, for...

This paper aims at explaining if firms's decision about location revises when firms cooperate or compete in R&D. For that purpose, it is proposed a three-stage game amongst three firms where each firm decides about location, R&D and output. Firms' decision about location determines a R&D...

The concept of Regional Innovation System (RIS) builds upon an integrated perspective of innovation, acknowledging the contribution of knowledge production subsystem, regulatory context and enterprises to a region’s innovative performance. Science and Technology parks can act as a platform to...

This paper develops a general equilibrium endogenous growth model that emphasizes the mechanisms, other than market size, through which trade-induced North-South technological knowledge diffusion influences the direction of technological progress and, thus, the path of intra and inter-country...