We consider empirically the incremental financing decisions for a sample of 153 AEX-quoted companies during the years 1984 through 1997. First, we estimate a binomial logit model for the choice between internal and external finance. Second, we estimate a multinomial logit model for the choice...

For the classification of industries within a certain country on the basis of their comparative trade advantage or trade disadvantage it is common practise to use the Balassa index. If the value of this index exceeds 1, the concomitant industry is thought to have a comparative trade advantage....