The paper uses a unique dataset comprising the population of new ventures that enter the UK market in 1998. We argue that we would expect the effect of market concentration on firm survival to be different according to whether an industry is static (low entry and exit) or dynamic. In our...

The importance of IPR regimes for large firm innovation is well documented but less is known about their impact on typically less innovative self-employed entrepreneurship. The paper sets out to estimate the net effect of the various elements that comprise an IPR regime including the political...

The process of the entrepreneurial decision is decomposed in seven engagement levels ranging from "never thought about starting a business" to "gave up", "thinking about it", "taking steps for starting up", "having a young business", "having an older business" and "no longer being an...

The successful start of Economic and Monetary Union in Europe has prompted more research into the issue of exchange rate regimes and if there were any lessons to be drawn from the European experiment for other regions in the world. We review the relevant issues from an Optimum Currency Area...

This study is aimed at developing new empirical models for evaluating the efficiency of bankruptcy legislations. The paper is divided in three parts. In the first part, we analyze from a conceptual point of view the effects on debtor firms of the lack of creditors' powers in bankruptcy. In the...

This study presents two tests of the hypothesis that adoption of an internal ratings-based approach to determining minimum capital requirements, proposed as part of the Basel II capital accord, would cause adopting banking organizations to increase their acquisition activity. The study employs...

This paper brings to the forefront the assumptions that we make when focusing on a particular type of explanation for bank profitability. We evaluate a broad field of research by introducing a general framework for a profit maximizing bank and demonstrate how different types of models can be...

We examine whether the European settlement institutions are technically efficient. This is done by means of estimating a translog cost function, and investigating whether scale economies are fully exploited. Since the sample is quite heterogeneous, fixed effects regression is introduced. From...

Estimates of UK income inequality trends differ substantially according to whether estimates are based on household survey data (used for official statistics) or tax return data (used in the top incomes literature). We reconcile differences in variable definitions and combine survey and tax...

Staatsausgaben und Steuereinnahmen verursachen nicht nur einen direkten Impuls, sondern lösen auch eine Multiplikatorwirkung aus. Die Erhöhung des Einkommens führt zu einer Ausweitung des privaten Konsums, somit zu einer weiteren Nachfrageerhöhung und einer abermaligen Produktionserhöhung...