We examine firms' motivation to change their main bank and how this switch affects loans, interest payments and firm performance after switching. Applying treatment effect analysis on unique firm-bank matched Ukrainian data, we find that larger and highly leveraged companies are more likely to...

This paper investigates the determinants of liability maturity choice in emerging markets using a unique panel of 4,500 Ukrainian firms during the period 2000-2006. Our estimates confirm the importance of agency costs, liquidity, signaling, and taxes for the liability term structure of firms...

Economic disparities between the regions of the European Union are of constant concern both for policy and economic research. In this paper, we examine whether there are overlapping trends of regional development in the EU: overall convergence, on the one hand, and persistent or even increasing...

The econometric model described in this paper presents an innovative approach of the firm level data (micro data) usage, compiled from official statistics for the projection of the demand for labour differentiated at the sectoral and/or regional level. The aim of our dynamic model is to...

This article analyzes the heterogeneity of firms within industries in regard to their level of technical efficiency. The data is taken from the cost structure census of manufacturing industries in Germany. We estimate the technical efficiency as a firm-specific fixed effect within a translog...