Narrow search
Showing 1 - 10 of 488
Cover Image
Capital Structure and International Debt Shifting
Huizinga, Harry; Laeven, Luc; Nicodème, Gaëtan - C.E.P.R. Discussion Papers - 2006
This paper presents a model that relates a multinational firm's optimal debt policy to taxation and to non-tax factors such as the desire to prevent bankruptcy. The model yields the predictions that a multinational's indebtedness in a country depends on national tax rates and differences between...
Persistent link: https://www.econbiz.de/10005791642
Cover Image
Corporate Efficiency in Europe
Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015
Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less...
Persistent link: https://www.econbiz.de/10011213309
Cover Image
Creative Destruction and Productive Preemption
Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - C.E.P.R. Discussion Papers - 2011
We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …
Persistent link: https://www.econbiz.de/10008865973
Cover Image
Legal Institutions, Innovation and Growth
Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - C.E.P.R. Discussion Papers - 2011
We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development — periods when legal …
Persistent link: https://www.econbiz.de/10009148877
Cover Image
Carbon Taxes, Path Dependency and Directed Technical Change: Evidence from the Auto Industry
Aghion, Philippe; Dechezleprêtre, Antoine; Hemous, David; … - C.E.P.R. Discussion Papers - 2012
innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …
Persistent link: https://www.econbiz.de/10011084407
Cover Image
Forbidden Fruits: The Political Economy of Science, Religion, and Growth
Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...
Persistent link: https://www.econbiz.de/10011262883
Cover Image
Asymmetric Information, Agency Costs and Innovative Entry
Audretsch, David B - C.E.P.R. Discussion Papers - 1994
the value of their potential innovation in industries characterized by a greater degree of knowledge asymmetries. Based on …
Persistent link: https://www.econbiz.de/10005791501
Cover Image
The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006
Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....
Persistent link: https://www.econbiz.de/10005791605
Cover Image
The Rules of Standard Setting Organizations: An Empirical Analysis
Chiao, Benjamin; Lerner, Josh; Tirole, Jean - C.E.P.R. Discussion Papers - 2007
This paper empirically explores standard-setting organizations’ policy choices. Consistent with Lerner-Tirole (2006), we find (a) a negative relationship between the extent to which an SSO is oriented to technology sponsors and the concession level required of sponsors and (b) a positive...
Persistent link: https://www.econbiz.de/10005792070
Cover Image
Incentives to Innovate and the Decision to Go Public or Private
Ferreira, Daniel; Manso, Gustavo; Silva, André C. - C.E.P.R. Discussion Papers - 2010
. Innovation requires the exploration of new ideas with potential advantages but unknown probability of success. We show that it is … equity to innovation and creative destruction and also generates new predictions concerning the determinants of going public …
Persistent link: https://www.econbiz.de/10008468600