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Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymmetrical information, while others regard familial connections as conduits for inefficiency, with...
Persistent link: https://www.econbiz.de/10012965431
access to additional financing. Overall, the results suggest that the bundle of inputs that angel investors provide have a …
Persistent link: https://www.econbiz.de/10013070159
It is well understood that investment serves as a shock absorber at the time of crisis. The duration of the drag on … investment, however, is perplexing. For the nine Asian economies we focus on in this study, average investment/GDP is about 6 … markedly as public and private sectors look inward when external financing becomes prohibitively costly, altogether impossible …
Persistent link: https://www.econbiz.de/10013072866
that have positive cost of capital shocks and larger financing needs. We also find that firms respond with additional …
Persistent link: https://www.econbiz.de/10012757529
We argue that the empirical evidence against the Capital Asset Pricing Model (CAPM) based on stock returns does not invalidate its use for estimating the cost of capital for projects in making capital budgeting decisions. Since stocks are backed not only by projects in place, but also the...
Persistent link: https://www.econbiz.de/10012757537
Two court decisions in the 1990s are widely viewed as having opened the door to a flood of business method and financial patents at the US Patent and Trademark Office, and to have also impacted other patent offices around the world. A number of scholars, both legal and economic, have critiqued...
Persistent link: https://www.econbiz.de/10012753142
We investigate the impact of reporting regulation on corporate innovation activity. Exploiting thresholds in Europe's regulation and a major enforcement reform in Germany, we find that forcing a greater share of firms to publicly disclose their financial statements reduces firms' innovative...
Persistent link: https://www.econbiz.de/10012862416
product market, concerning in particular entry barriers, are negatively related to investment. The implications of our … analysis are clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment …
Persistent link: https://www.econbiz.de/10013216094
through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in … data such as improvements in skills, management and organization. For this, we specify an extended production function … relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two factor demand functions …
Persistent link: https://www.econbiz.de/10013034911
and its investment decisions leads to a systematic premium in the firm's share price relative to expected dividends. Noisy …'s decisions to their own benefit. The managers take advantage of shareholders by taking excessive investment risks when the market …
Persistent link: https://www.econbiz.de/10013121056