This paper investigates 53 public HEIs in Turkey between 2005 and 2010 including 5 full academic terms to estimate both their cost frontier and inefficiencies. The initial findings of six different models imply that Turkish universities perform quite well concerning their overall efficiency...

Analytical asymptotic local power functions are employed to study the effects of general form short term serial correlation on �fixed-T panel data unit root tests. Two models are considered, one that has only individual intercepts and one that has both individual intercepts and individual...

In this paper we suggest panel data unit root tests which allow for a structural breaks in the individual effects or linear trends of panel data models. This is done under the assumption that the disturbance terms of the panel are heterogeneous and serially correlated. The limiting distributions...

We estimate the set of panel and spatial panel data models of employment and investments for 379 Polish counties over the period 2003-2012. We take advantage of a unique firm-level dataset for Polish Special Economic Zones (SSEs), which includes about 30,000 observations. We find that SSEs have...

The aim of this paper is to explore the impact of intra- and inter-industry spillover components on productivity of large International firms. We use data from all EU R&D investment scoreboards editions issued every year until 2011 by the JRC-IPTS (scoreboards). The analysis is based upon a new...

This paper analyses the properties of the fixed-effects vector decomposition estimator, an emerging and popular technique for estimating time-invariant variables in panel data models with unit effects. This estimator was initially motivated on heuristic grounds, and advocated on the strength of...

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts to answer the question what are the direction and strength of this possible impact examining the relationship between corporate investment and inflation on the sample of 21 OECD...

All business runs and flourish on trust amongst key players. Trust is essential and important for any business, but for micro finance, the trust is critical. Micro entrepreneurs are less privileged and hence creditors should look not only from eye of lender but tutelage. The building confidence...

The condensed research article presents some innovative research results on the venture capital optimal investment portfolio strategies selection in the diffusion-type financial systems in the imperfect highly volatile global capital markets with the incomplete information, which are...

Enhancing financial inclusion or access to finance can make critical contributions to the economic development. Conventional mechanisms such as micro-finance, small-medium-enterprises (SME), and micro-insurance to enhance financial inclusion have been partially successful in enhancing the access...