We empirically examine some listed Chinese firms’ political connection, ownership, and financing constraints. Politically-connected firms display no financing constraints whereas firms without connection experience significant constraints. Non-connected family-controlled firms bear greater...

Focusing on a panel of unlisted firms from transition economies, we observe that only firms facing low irreversibility exhibit high and significant investment-cash flow sensitivities. Our findings provide a new explanation for why some financially constrained firms may exhibit low sensitivities.

We use business register data for the United Kingdom to document the importance of the different channels that firms use to adjust their size. We show how the choice of adjustment channel impacts upon firm-level variables such as wages or productivity.

We present a model adequate for investment decisions in duopolies under total hidden competition. In this competitive context all potential entrants remain unrevealed until they decide to move into the market. The value-functions and the optimal entry thresholds are derived.

We investigate the interaction between supplier credit sales and customer advance payment. We find evidence that advance payments and credit sales are used as complementary terms of payment in international trade and in transactions of differentiated goods.

Using data on the establishment of Venture Capital syndicates in Germany during the period 1995-2005 I document that relationships are formed between VCs that occupy different strategic positions in the network to allow for the combination of complimentary investment expertise

This paper considers a factor-augmented regression model in the presence of structural change. We propose a two-step procedure to estimate the coefficients of explanatory variables. We show that when the number of units (N) and the number of periods (T) are large and comparable, the proposed...

We estimate the long rate and its volatility within the Svensson framework. The procedure that best extrapolates the longest observable rate and its volatility is a 2-dimensional grid search conditioned on the ridge regression suggested by Annaert et al. (2013).