Showing 1 - 10 of 34
Using panel data on large Polish firms this paper examines the relationship between corporatecontrol structures, sales growth and the determinants of employment change during the period 1996-2002. We find that privatised and de novo firms are the main drivers of employment growth andthat, in the...
Persistent link: https://www.econbiz.de/10005868174
Using a panel of 425 European firms over the period from 1990 to 2005, we revisit Welch's (2004) finding that stock returns are the primary determinant of capital structure changes and that the corporate motives for issuing activities remain largely unexplained. We document that about half of...
Persistent link: https://www.econbiz.de/10005862643
We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...
Persistent link: https://www.econbiz.de/10005862644
We use a dynamic framework and panel methodology to investigate the determinants of a time-varying corporate capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...
Persistent link: https://www.econbiz.de/10005862648
Our paper introduces a new estimation method for arbitrary temporal heterogeneityin panel data models. The paper provides a semiparametric method for estimatinggeneral patterns of cross-sectional specific time trends. The methods proposed in thepaper are related to principal component analysis...
Persistent link: https://www.econbiz.de/10005863554
Understanding adjustment processes has become central in economics. Empirical analysisis fraught with the problem that the target is usually unobserved. This paper develops,simulates and applies GMM methods for estimating dynamic adjustment models ina panel data context with partially unobserved...
Persistent link: https://www.econbiz.de/10005866182
We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The resultsshow that the existence of effective fiscal rules, the degree of public spendingdecentralization, and the electoral cycle can...
Persistent link: https://www.econbiz.de/10005866594
We reappraise the relationship between productivity and equilibrium real exchangerates using a panel estimation framework that incorporates a large number ofcountries and importantly, a dataset that allows explicit consideration of the role ofnon-traded, as well as traded, sector productivity...
Persistent link: https://www.econbiz.de/10005866628
We use a dynamic adjustment model and panel methodology to investigatethe determinants of a time- varying optimal capital structure. Because firmsmay temporarily deviate from their optimal capital structure in the presenceof adjustment costs, we also endogenize the adjustment process. In partic...
Persistent link: https://www.econbiz.de/10005867962
In this paper we explore the hypothesis of spatial effects in the distribution of ForeignDirect Investments (FDI) across Russian regions. We make use of a model, whichdescribes FDI inflows as resulting from an agglomeration effect (the level of FDI in agiven region depends positively on the...
Persistent link: https://www.econbiz.de/10005868068