This paper examines the relationship between the internationalisation of firms in services and their innovation performance. We use firm‐level data over the period 2004‐2006 and estimate an augmented structural model to account for the role of foreign direct investment and exporting on the...

In response to technological change, U.S. corporations have been investing more in intangible capital. This transformation is empirically associated with lower leverage and greater cash holdings, and commonly explained as a precautionary response to reduced debt capacity. We model how firms'...