This papaer evaluates analysts' consensus long run earnings growth forecasts. It is shown that the correlation between forecast earnings growth and actual earnings growth is extremely low. Consistent with other studies, forecast earnings growth is found to be too optimistic. This is illustrated...

In Governance, Multinationals and Growth, leading scholars celebrate and build upon the pioneering work of Edward Safarian on multinational enterprises and foreign direct investment. The book explores the linkages among multinationals and foreign direct investment, corporate and public...

This study considers the role of national differences, derived from structural characteristics in each country, and how they impact on companies’ innovation. To do this we include in a firm-level empirical model of innovation traditional factors impacting on innovation, and measure any...

This paper decomposes aggregate TFP growth in Britain for 1997-2008 to show the contribution of different LEPs and the role played by manufacturing and services and UK- and foreign-owned plants within these LEPs. These contributions are further decomposed to show the role of productivity growth...

<title>Abstract</title> The paper discusses the standard approaches in constructing the spatial weights matrix, W, and the implications of using such approaches in terms of the potential mis-specification of W. We then look at more recent attempts to measure W in the literature, including: Bayesian (searching...

Empirical literature on the impact of FDI has considered at length the indirect spillover benefits that accrue to domestic plants as a result of FDI presence. However, the imprecise and disparate nature of spillovers makes accurate definition and indeed measurement of them difficult to achieve....