Showing 1 - 10 of 1,691
We examine size management by European private firms for which disclosure requirements increase at size thresholds. Our estimates suggest at least 8% of firms near thresholds that impose income statement disclosure manage size downward, and the average firm that manages size sacrifices more than...
Persistent link: https://www.econbiz.de/10012937817
level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are … importantly, the cash flow sensitivity of investment is lower in countries with better-developed financial markets. This suggests …
Persistent link: https://www.econbiz.de/10013317411
players can result in diseconomies of scale and a less efficient use of resources. We also find evidence that investment …
Persistent link: https://www.econbiz.de/10014079683
Persistent link: https://www.econbiz.de/10011695830
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In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen...
Persistent link: https://www.econbiz.de/10003857130
This paper investigates the impact of eco-innovation on firms' growth processes, with a special focus on gazelles, i ….e. firms' showing higher growth rates than the average. In a context shaped by more and more stringent environmental regulatory … to trigger sales growth. We use firm-level data drawn from the Bureau van Dijk Database, coupled with patent information …
Persistent link: https://www.econbiz.de/10011337029
This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices and quantities after the (full or partial) merger...
Persistent link: https://www.econbiz.de/10011349182
manufacturing industries of France, Germany, UK and USA. We first disentangle the contribution to industry-level productivity growth … extent firm growth rates are shaped by relative productivity levels in deviation from industry average and by the over time … productivity-related determinant of relative growth rates. …
Persistent link: https://www.econbiz.de/10009766333
This paper assesses the impact of adopting a post-grant review institution in the US patent system by comparing the 'opposition careers' of European Patent Office (EPO) equivalents of litigated US patents to those of a control group of EPO patents. We demonstrate several novel methods of...
Persistent link: https://www.econbiz.de/10010366523