We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous …rms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign) a¢...

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...

We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous firms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign)...

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...

This paper attempts to estimate comparable efficiency scores for European banks operating in the Single Market in the EU. Using a data set of more than 5000 large commercial banks from all major European banking markets over the period 1993-2004, the application of meta-frontiers enables us to...

World trade and production are increasingly structured around “global value chains” (GVCs). The last years have witnessed a growing number of case studies describing at the product level how production is internationally fragmented, but there is little evidence at the aggregate level on the...

World trade and production are increasingly structured around “global value chains” (GVCs). The last years have witnessed a growing number of case studies describing at the product level how production is internationally fragmented, but there is little evidence at the aggregate level on the...

This paper attempts to estimate comparable efficiency scores for European banks operating in the Single Market in the EU. Using a data set of more than 5000 large commercial banks from all major European banking markets over the period 1993-2004, the application of meta-frontiers enables us to...

We estimate the rate of embodied technological change directly from plant-level manufacturing data on current output and input choices along with histories on their vintages of equipment investment. Our estimates range between 8 and 17 percent for the typical U.S. manufacturing plant during the...

We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing firms. Uncertainty measures are derived from firms’ subjective qualitative expectations. They are close to their theoretical counterparts, the variances of future demand and...