Using a panel of 5999 Belgian small- and medium-sized enterprises (SMEs) over the period 2002-2008, we employ a Bayesian approach to derive firm-varying investment-cash flow sensitivities (ICFS) from reduced-form investment equations which include different measures of investment opportunities...

We examine the relationship between the degree of foreign ownership and performance of recipient firms, using a panel of 21,582 Chinese firms over the period 2000-2005. We find that joint-ventures perform better than wholly foreign-owned and purely domestic firms. Although productivity and...