diversification benefits: risk premia should be higher for firms operating in countries where shocks covary more with the domestic …

through differences in productivity levels and size. In this paper we analyze the link between heterogeneity within sectors … industries between 1994 and 2004. The focus of our paper is on the role played by average productivity level and the distribution … industries with higher productivity levels and with a distribution of firms shifted toward large firms are more prone to …

through differences in productivity levels and size. In this paper we analyze the link between heterogeneity within sectors … industries between 1994 and 2004. The focus of our paper is on the role played by average productivity level and the distribution … industries with higher productivity levels and with a distribution of firms shifted toward large firms are more prone to …

first order stochastic dominance it is shown that, in line with this hypothesis, the productivity distribution of foreign …

Using a unique German firm-level data set, we provide empirical evidence for a productivity sorting along two …