Showing 1 - 10 of 36
We provide the first cross-country evidence of the effect of investment by private equity firms on innovation, focusing … concerns about causality in several ways, including exploiting variation in laws regulating the investment behaviour of pension … like R&D, human capital, and patent protection. Our estimates imply that while private equity investment accounts for 8% of …
Persistent link: https://www.econbiz.de/10003867027
capital investment. We argue that this is due to the emergence of new corporate giants rather than the growth of existing ones …
Persistent link: https://www.econbiz.de/10003969261
that private equity investment benefits new business incorporation, especially in industries with naturally higher entry … rates and R&D intensity. A two standard deviation increase in private equity investment explains as much as 5.5% of the …
Persistent link: https://www.econbiz.de/10003963732
We study how public policy can contribute to increase the share of early stage and high-tech venture capital investments, thus helping the development of active venture capital markets. A simple extension of the seminal model by Holmstrom and Tirole (1997) provides a theoretical base for our...
Persistent link: https://www.econbiz.de/10002812914
This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...
Persistent link: https://www.econbiz.de/10012241105
funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then … pitched their ideas to independent judges. The program resulted in a 0.3 standard deviation increase in the investment … readiness score. Two years later, the average impacts on firm investment outcomes are positive, but small in magnitude, and not …
Persistent link: https://www.econbiz.de/10012200841
This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …
Persistent link: https://www.econbiz.de/10011719911
We present evidence that referenda have a significant, detrimental outcome on investment. Employing an unsupervised … policy-related uncertainty. Examining the relationship of these indices with investment on a longitudinal panel of 3 … uncertainty to investment. Our preferred specification suggests that a one standarddeviation increase in Brexit uncertainty …
Persistent link: https://www.econbiz.de/10012212854
firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …
Persistent link: https://www.econbiz.de/10012197861
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a …, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We … implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects …
Persistent link: https://www.econbiz.de/10011792068