This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...

The objective of this study is to investigate the sensitivity of the estimated relationship between innovation and firm performance. In doing so, we rely on a knowledge production function approach and carry out comparisons in a number of respects. The sensitivity analysis is based on the...

This paper examines the importance of localized knowledge for innovative exporters by observing their embeddedness in regional innovation systems and international knowledge flow by using trade data on openness. The study distinguishes between new competence creation as proxied by patent...

Firms display persistent differences as regards both internal and external characteristics, and these differences correspond to asymmetries in the performance of firms with regard to productivity level and growth as well as innovativeness. This paper focuses on one internal characteristic and...

This paper addresses two questions: what, if anything, is the influence of geographic concentration of economic activity on patterns of foreign direct investment; what is the relationship, if any, between geographic concentration of economic activity, multinationality and innovation. The paper...