We discuss the role of foreign exchange reserves as precautionary savings under an imperfect market framework due to the presence of endogenously determined borrowing constraints. We show that cost of holding reserves is higher in borrowing constrained economies than unconstrained ones as a...

This paper contributes to the empirical literature on the relationship between environmental regulation and firm behavior. In particular, we ask whether and how strongly an industry's investment responds to stringency in environmental regulation. Environmental stringency is measured as (i) an...

Die vorliegende Arbeit untersucht anhand von europäischen Firmendaten den Einfluss der Körperschaftsteuer auf die Unternehmensverschuldung. Dabei wird insbesondere auf Firmenheterogentität in Bezug auf Firmengröße und Gesellschaftsform fokussiert. Der verwendete Datensatz enthält...

This paper studies empirically the relationship between oil endowment and the duration of autocratic leaders. A simple theoretical setting shows how the relationship between oil endowment and the duration of the dictatorial regime is mediated by the price of oil. Using a dataset on 106...

Die Eigenkapitalausstattung von österreichischen Unternehmen wird in der wirtschaftspolitischen Diskussion als zu gering eingestuft. Die daraus resultierende übermäßige Verwendung von Fremdkapital wird in Krisenzeiten als schädlich für die finanzielle Stabilität von Unternehmen angesehen....

This article focuses on the role of Technology Transfer Offices (TTOs) in regional development in three Austrian regions that represent different types of regional economies. TTOs can be defined as “bridging institutions” between academia and business. The value added by this approach...

This paper contributes to the empirical literature on the transfer pricing behavior of multinational firms. Previous research mainly focuses on transfer pricing as a means of tax optimization. Our approach concentrates on transfer pricing as a critical compliance issue. Specifically, we...

This paper formulates an econometric firm growth model that explicitly accounts for interdependence of growth performance within multinational corporate networks. We apply a recently introduced IV-estimation procedure for peer group effects to directly test for externalities within multinational...

Since 1990 the number of preferential trade agreements has increased rapidly. Our argument explains this phenomenon, known as the new regionalism, as a result of competition for market access. Exporters that face trade diversion because of their exclusion from a preferential trade agreement...

Regional labour markets in the „Great Recession“: The evolution of regional unemployment rates in Germany, France and the United Kingdom in 2009. Contrary to the already encompassing literature on the differentiated effects of the “Great Recession” on states, the article takes a regional...