Making SMEs and start-ups a driver of growth and job creation requires a number of policies to improve the performance of SMEs, whose labour productivity in the manufacturing sector has fallen to less than a third of that in large companies. The large-scale support for SMEs should shift from...

"Based on six years of research, Harvard Business School professor Thales Teixeira shows how and why industries are disrupted, and what established companies can do to respond -- as well as what potential startups must master if they hope to gain a competitive edge. As it turns out, there is a...

Do digital payment technologies generate liquidity premia like cash and Treasury? We provide an estimate in the context of the world's largest digital payment platform, Alipay. Our empirical strategy exploits the variation in the timing of the introduction of money market funds that users on...

This study investigates whether stock liquidity enhances or impedes firms’ digital transformation. It is of interest to various stakeholders since digitizing is crucial to a firm’s competitiveness and performance. The results indicate that stock liquidity negatively affects firms’ digital...