The aim of this article is to take stock of the theoretical debate and empirical findings concerning the impact of institutions on economic performance and the channels through which the institutional impact unfolds. The review is limited to work published until 2004 due to space limitations and...

We examine the implications of imperfect information for corporate governance quality and stakeholder loyalty. We establish that imperfect information is conducive to lower levels of corporate governance quality and/or stakeholder loyalty compared to the benchmark of perfect information. Under...

This paper investigates the effects of UK and EU subsidies on privately-funded R&D intensity of a sample of 39,730 UK firms. The sample consists of R&D-active firms surveyed in at least one year from 1998-2012. The results are obtained from 4 different estimators, with different degrees of...