In this paper, we examine firm innovation and its link to firm growth. Instead of using the conventional conceptualization and operationalization of innovation in terms of the R&D budget, we use a more elaborate 12-dimensional conceptualization, which takes into account also the...

In order to shed light on the consequences of the ongoing financial crisis, ETLA conducted two surveys at the end of October 2008. The firm survey targeted firms employing at least 10 persons in Finland (2,017 observations with a response rate of 33%) and the consumer survey targeted...

This study empirically explores whether R&D offshoring affects the domestic R&D employment at the firm level. Overall, the Finnish survey data suggest that the impact of R&D internationalization on domestic R&D employment depends on the mode of internationalization (in-house offshoring vs....

The current crisis is different from the situation 2008/2009, but again it is a tremendous challenge for the economies across Europe. The Corona-crisis is hitting the economies symmetrically, though with differences in magnitude levels, while the 2009 crisis was primarily a crisis of the banking...

This report sheds light on the size and composition of the digital economy in Finland and its impact on the tax gap and tax system. No generally agreed definition of digital economy exists, and only a few prior studies have assessed the size of the digital economy quantitatively. We measured the...

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 this paper, we study the impacts of bilateral investment treaties (BITs) between the EU countries and China on EU home investments. We consider BITs as "treatments" that provide further access to global value chains (GVCs). We identify the causal impacts of the BITs on the relationship...

In this study, we analyse the size and role of the Finnish event industry by utilising both industry- and firm-level data. Furthermore, we study the impacts of the Covid-19 crisis on companies operating in the event industry. Based on our results, the event industry accounts for 1.2% of the...

This report discusses factors that have caused a decrease in tangible investments in machinery and equipment, and intangible assets in Finland. A decline in the R&D investments of the electronics industry practically entirely explains a decrease in investments in Finland, which has prolonged the...

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...