The European Commission's current initiative to commence consultations on the action plan to build a Capital Markets Union is to be welcomed. The objective must be to create a stable and sustainable financial system, providing all households and companies with appropriate access to financial...

The European Commission's current initiative to commence consultations on the action plan to build a Capital Markets Union is to be welcomed. The objective must be to create a stable and sustainable financial system, providing all households and companies with appropriate access to financial...

This study investigates the determinants of R&D expenditures in the Swedish pharmaceutical industry from the 1960s to the mid 1990s. Various proxies for the rate of return of R&D (e.g. expected profit, sales and R&D productivity) as well as the availability of internal funding (proxied by past...