When searching for productivity spillovers from foreign firms, a firm is typically classified as foreign using a low threshold of direct foreign ownership. Instead, we advocate an "ultimate owner" definition because (i) ultimate ownership includes indirect ownership links that are prevalent in...

It has been argued that the effect of competition on a company’s incentive to innovate and to reduce managerial slack depends on the initial level of efficiency. For example, while firms close to the technology frontier invest more in innovation if competition increases, backward firms reduce...

This study empirically investigates if competition’s impact on firm performance depends on the ownership structure. Our results show that an increase in import competition has a positive effect on firms with concentrated ownership and a negative effect on firms with dispersed ownership,...

This paper explores potential explanations behind the educational gap between young natives and immigrants using two measures, negative attitudes towards immigrants and networking, which may influence natives and immigrants differently. The paper considers, both theoretically and empirically,...