This article suggests that the validity of the Trade-Off Theory (TOT) and Pecking-Order Theory (POT) to explain financing decisions varies among small, medium-sized and large firms. Using dynamic panel data tests on a sample of 3439 Spanish firms over the period 1995--2003, results are partially...

This paper examines export diversification in Ecuador in the cases of fresh cut flowers, canned tuna, palm heart, broccoli and mangoes, using the theoretical framework on pioneers and discoveries developed by Hausmann and Rodrik (2003), as well as work by Sánchez and Butler (2006) on export...

This paper studies the determinants of income smoothing by management of loan-loss provisions in banks around the world. Using a panel database of 3221 bank-year observations from 40 countries and controlling for unobservable bank effects and for the endogeneity of explanatory variables, we find...