This paper provides econometric evidence supporting the hypothesis that export behavior cause learning effects. The idea is that exporting firms obtain efficiency gains through a variety of channels, among which are international knowledge and technology spillovers and the exploitation of...

Multinational firms are traditionally considered as firms possessing some technological lead and exploiting this proprietary advantage in international markets, but a growing literature has been arguing that multinational firms set up foreign subsidiaries not only as a means to exploit their own...

During the nineties, Europe became a major recipient of FDIs but Italian regions have been largely excluded from this process. Was it due to their characteristics, or were Italian regions 'doomed' by a negative country effect? In this paper we address this issue by estimating the determinants of...

AbstractWe investigate the moderating role of governments’ financial constraints in the relationship between their ownership of publicly listed firms and dividend policy. Using a worldwide sample of 1,906 publicly listed firms that were targets of government investments over the period from...