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...

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In this paper we analyse the determinants of R&D spending in Danish firms and firms and industries in the nineties. We also examine the complementarity and substitution between publicly and company financed spending taking into account the influence from market structure, barriers of entry,...

In recent years much attention has been paid to especially entry studies within industrial organisation research. Firm mobility is important in order to move resources towards the most productive industries, and the threat from potential entrants can restrain the incumbents from exploiting their...

The rapid and continuous growth in the US in the 1990s and the simultaneous boom in the IT industry created the concept "The New Economy". What connects the two phenomena is that the IT industry alone is considered productive, and increased productivity in other industries, as a result of...

This paper analyses the role of R&D in the export behaviour of Danish firms. Export behaviour is defined as the likelihood of a firm being an exporter. In the theoretical part of the paper it is argued that export and being R&D active are endogenous with respect to each other, and an empirical...

It is a commonplace to assume that competition within an industry reduces firms’ profit margins and production inefficiency and increases the effort and resources firms spend on innovations. Although theoretically there are good reasons to believe that competition will increase the...