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In this paper we study the relation between firm-level disclosure quality and the availability of external finance to firms. Using data on Finnish firms that are mostly private and small, we first estimate ‘excess growth’ made possible by external finance. We then show that the excess growth...
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The report looks at investment activity in Finland by industries and types of investment, and makes international … comparisons. Investment rate (fixed investment in relation to GDP) fell in Finland in the early 1990s from an internationally high … an increase in competition. The economy transformed itself from investment-driven economy to a more innovation-driven one …
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corresponding rate with the investments. For this reason, the investment rate of companies is currently almost at the same level as … in the years 2000–2008. However, after the financial crisis the development of investment volume has been weaker in … capital in clearly better in Finland than in most other European countries. The investment rate in Finland is reduced …
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