We use a unique dataset of bond downgrades from a niche rating company that has been found to be reacting faster to publicly available information than its competitors. Using regime-switching models we propose risk measures to quantify stock return disturbances (distress costs) associated with...

There is ample evidence that women do not react to competition as mendo and are less willing to enter a competition than men (e.g., Gneezy et al.(2003), Niederle and Vesterlund (2007)). In this paper, we use personalityvariables toto understand the underlying motives of women (and men) toenter a...

To date, empirical investigations of trade liberalization under the conditions of increasingreturns to scale (IRS) and imperfect competition (IC) have either assumed or imposed themarket and productive structures necessary for such a model. However, of the recent IRS/ICmodels used to simulate...

We develop a dynamic duopoly model of R&D competition to improve the quality of a finalgood. The innovation process is sequential and cumulative, and takes place alongside productionin an infinite-horizon setting. In this context we study the R&D incentive impacts resultingfrom a “research...

Innovation is still an obscure concept although many efforts have been made to improve the understanding and measurement of it. The growth of service activities throughout the economy has encouraged scholars, policy makers and executives to explore the determinants and features of the innovation...

This study reports results from an empirical investigation of business services sector firmsthat (start to) export, comparing exporters to firms that serve the national market only. Weestimate identically specified empirical models using comparable enterprise level data fromFrance, Germany, and...

We extend Bresnahan and Reiss’s (1991) model of local oligopoly to allow firm entry and exit over time.In our framework, entrants have to incur sunk costs in order to enter a market. After becomingincumbents, they disregard these entry costs in deciding whether to continue operating or to...

It is commonly alleged that foreign direct investment (FDI) in the service sector haspositive consequences for the domestic labor market. This paper shows that this widelyaccepted view does not generally hold...

The research topics HRM and customer involvement are usually investigated separately.On the one hand, research shows that the spectrum of roles and functions ofcustomers as key company stakeholders has changed dramatically in the last fewyears. In service companies, now more than ever, customers...

In his oft-cited “What do we know about entry?”, Paul Geroski (1995) gave a survey of empirical works on this central topic regarding industrial organization and, more precisely, market dynamics. Surprisingly, his article remains silent on the spatial dimension of these dynamics. This paper...