Using a newly constructed panel dataset of German enterprises, I estimate R&D and capital investment equations for the … time period from 1990 to 1994. Simple accelerator specifications indicate considerable sensitivity of R&D and investment to … account, but a significant positive relationship between cash flow and investment remains for relatively small firms. In the …

subsidies on employment growth differ more between high-growth start-ups and other firms than between start-ups and over five … years old incumbents. All subsidies seem to relate positively to the contemporary employment growth both among start-ups and … provide significant further boost for the contemporary or after-subsidy growth of gazelles. There are apparently some other …

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 …

subsidies. -- public subsidies ; technology policy ; growth ; Finland … subsidies on employment growth differ more between high-growth start-ups and other firms than between start-ups and over five … years old incumbents. All subsidies seem to relate positively to the contemporary employment growth both among start-ups and …

We develop a novel 10-K text-based model of product life-cycles and examine firm investment policies. Conditioning on … the life cycle substantially improves the explanatory power of investment-Q models, and reveals a natural ordering of …