The international beer brewing industry has experienced massive changes over the last decade. Industry concentration has increased dramatically, and the leading brewer groups have globalised their operations across virtually all continents. The paper describes the development and puts it into an...

Education as a road to growth has been on the political agenda in recent years and promoted not least by the institutions of higher education. At the same time the universities have been squeezed for resources for a long period and the average class size has increased as a result. However, the...

The decision on investment in R&D is very important and highly risky for firms’ performance and survival in their business. This paper focuses on the commercialization of firms’ investment in innovation and how these decisions affect their performance. The study uses a large innovation...

The extensive empirical literature on the validity of Gibrat’s law does not in general verify the law as it finds that firms’ growth rates are negatively correlated with both firm size and age. However, some studies find that Gibrat’s law holds for sub-samples of firms such as large firms...

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Persistence in corporate performance is analyzed in the framework of empirical tests of unit root behavior concerning firm profits. Data for firm-specific rates of return is applied in a set of panel unit root tests to address the question of persistence in profits both at firm level and for the...

This paper examines the remarkable development of technology and the fast learning-by-doing in the windmill industry since it emerged in the beginning of the 1980s. Based on time series of prices of windmills a dynamic cost function for producing windmills is tested. The estimations verified...