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This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...
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This paper investigates whether failure in innovation at the firm level can account for cross-country heterogeneity in …, differs in a number of ways from much of the previous cross-country comparisons on the relationship between innovation and … productivity using firm-level data. First, a broader definition of innovation input is used in which research and development is …
Persistent link: https://www.econbiz.de/10014077215
This paper serves as another complementary link in a chain of a rather limited number of investigations in the R&D-innovation …-productivity relationship within service industries. Innovation has been found to be a major contributor to productivity growth in manufacturing …. In this paper, the importance of innovation is explored by comparing manufacturing and service firms in a sample of …
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