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The interdependence of R&D activity and debt financing of young firms

Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2011

We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...

Persistent link: https://www.econbiz.de/10010286852

Evolution of capital structure in East Asia: corporate inertia or endeavours?

Driffield, Nigel; Pal, Sarmistha - 2008

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

Persistent link: https://www.econbiz.de/10010268733

Convergence in institutions and market outcomes: cross-country and time-series evidence from the BEEPS surveys in transition economies

Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - 2008

This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...

Persistent link: https://www.econbiz.de/10010269128

Excess leverage and productivity growth in emerging economies: Is there a threshold effect?

Coricelli, Fabrizio; Driffield, Nigel; Pal, Sarmistha; … - 2010

The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...

Persistent link: https://www.econbiz.de/10010269864

An Experimental Study of the POUM Hypothesis

Checchi, Daniele; Filippin, Antonio - 2003

period and individuals are not too risk averse. This paper tests the POUM hypothesis by means of a within subjects experiment … inequality aversion are (partially) controlled for via either the experiment design or the information collected during the … experiment. We find that the POUM hypothesis holds under alternative specifications, even when we control for individual fixed …

Persistent link: https://www.econbiz.de/10010261622

Other-Regarding Preferences and Performance Pay : An Experiment on Incentives and Sorting

Villeval, Marie-Claire; Eriksson, Tor - 2004

experiment that analyzes the influence of other-regarding preferences on sorting and incentives. Experimental evidence shows that …

Persistent link: https://www.econbiz.de/10010261940

A Nation-Wide Laboratory: Examining Trust and Trustworthiness by Integrating Behavioral Experiments into Representative Surveys

Fehr, Ernst; Fischbacher, Urs; von Rosenbladt, Bernhard; … - 2003

representative behavioral data from a social dilemma experiment. We identify which survey questions intended to elicit people's trust … correlate well with behaviorally exhibited trust in the experiment. People above the age of 65, highly skilled workers and …

Persistent link: https://www.econbiz.de/10010262013

Punishing Free-Riders : How Group Size Affects Mutual Monitoring and the Provision of Public Goods

Carpenter, Jeffrey P. - 2004

Because costly punishment is not credible, subgame perfection suggests that punishment will not deter free riding, regardless of the size or structure of groups. However, experiments show that people will punish free riders, even at considerable cost. To examine the implications of agents who...

Persistent link: https://www.econbiz.de/10010262078

Social Reciprocity

Carpenter, Jeffrey P.; Matthews, Peter Hans - 2004

altruism. Instead, we posit that social reciprocity is a triggered normative response. Our experiment confirms the existence of …

Persistent link: https://www.econbiz.de/10010271935

Impact of Financial Crises on Dynamics of Capital Structure: Evidence from Korean Listed Companies

Tsoy, Lyubov; Heshmati, Almas - 2017

This study examines the impact of 1997 Asian and 2008 Global financial crises on the capital structure of Korean listed companies. Using a data set covering 1,159 Korean listed non-financial firms from 10 industrial sectors over period 1985-2015, the pattern of firms' capital structure before...

Persistent link: https://www.econbiz.de/10011653282

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