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Productivity, markups, and reallocation : evidence from French manufacturing firms from 1994 to 2016

De Monte, Enrico - 2024

This paper investigates the evolution of aggregate productivity and markups among French manufacturing firms between … 1994 and 2016, by focusing on the role of reallocation with respect to both aggregate measures. Firm-level productivity and … aggregate productivity growth of about 34% over the whole period while aggregate markups are found to remain relatively stable …

Persistent link: https://www.econbiz.de/10014468964

The commitment role of equity financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

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/10011705222

The organization of knowledge in multinational firms

Gumpert, Anna - 2015

This paper provides the first in-depth study of the organization of knowledge in multinational firms. The paper develops a theoretical model that studies how firms optimally split knowledge between their headquarters and their production plants if communication costs impede the access of...

Persistent link: https://www.econbiz.de/10011373085

The organization of knowledge in multinational firms

Gumpert, Anna - 2017

This paper provides the first in-depth study of the organization of knowledge in multinational firms. In the theory, knowledge is a costly input for firms that they can acquire at their headquarters or their production plants. Communication costs impede the access of the plants to headquarter...

Persistent link: https://www.econbiz.de/10011697278

Climate protection potentials of digitalized production processes : microeconometric evidence?

Axenbeck, Janna; Niebel, Thomas - 2021

Although information and communication technologies (ICT) consume energy themselves, they are considered to have the potential to reduce overall energy intensity within economic sectors. While previous empirical evidence is based on aggregated data, this is the first large-scale empirical study...

Persistent link: https://www.econbiz.de/10012816326

Benefits of internationalisation for acquirers and targets - but unevenly distributed

Frey, Rainer; Goldbach, Stefan - 2021

of positive effects emerge. With respect to takeovers of German companies by foreign investors, the productivity and … international, we find positive productivity and sales effects for relatively small companies investing abroad, and this …

Persistent link: https://www.econbiz.de/10012627996

Size matters : "over"investments in a relational contracting setting

Englmaier, Florian; Fahn, Matthias - 2018

The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylized fact, most of them focusing on a fundamental agency problem between shareholders and managers. The present paper shows...

Persistent link: https://www.econbiz.de/10011895831