This paper studies the interaction of Finnish manufacturing firms and a state-owned specialized financing company, whose objective is to cure credit market imperfections. The study ex-amines how the presence of such agency affects the behavior of the firms over time. Specifically, the study...

International literature suggests that productivity growth of the global frontier firms – those in the best five percent – has diverged from the others during the 2000s. We study this issue using Finnish firm-level data. We find that the productivity of the Finnish frontier firms does not...

This report is a synthesis of the previous literature analyzing the role of different types of companies on economic growth and employment, and an overlook on the impacts of different policy measures on companies. The role of large companies in the economy is still significant, although...

This report examines the resilience of firms during crises from two perspectives: their ability to resist crises and their capacity to recover. The findings reveal that innovative firms are less likely to cease operations than other firms and are more likely to recover faster. The study further...

This study examines the allocation of business subsidies introduced due to the COVID-19 pandemic to different types of companies. The results show that most of the supported companies would not have needed the subsidy, as they would have remained profitable also in the absence of it....

We examined mergers and acquisitions in the service sector and the effects of the transition to foreign ownership. We analyzed firm-level data encompassing 1,243 service sector acquisitions that occurred from 2009-2018. The most foreign acquisitions occurred in the health and social services,...

The role of digital technologies is becoming increasingly important in our day-to-day life. Digital technologies have become part of our social life as well as business operations across different industrial and public sectors. Because of digitalization, the internet protocol and data traffic...

In this study, we have analysed the role of the largest companies in the Finnish economy. According to the results, the list of ten largest companies in terms of their domestic value added is diverse and includes companies operating in the manufacturing industry, the service industry, as well as...

In recent years, business angels have invested in a few hundred Finnish firms annually. The target firms are mainly young and small: 75% of them employ fewer than 10 workers and are less than 8 years old. These firms are most likely to be found in the ICT and professional service industries and...