The paper examines the impact of diferent types of innovations-such as process, product, and R&D-on labor productivity and employment across several African nations. Utilizing data from the World Bank Enterprise Survey, the study constructs pseudo-panel data based on legal status, frm size, and...

This paper introduces a new econometric framework for modeling fractional outcomes bounded between zero and one. We propose the Fractional Probit with Cross-Sectional Volatility (FPCV), which specifies the conditional mean through a probit link and allows the conditional variance to depend on...

Since the 2016 Paris Agreement, countries and companies have been increasingly pressured to adopt appropriate response measures to climate change. However, it is not clear what factors drive firms to undertake climate change actions. Using a correlated random effects panel probit model, this...

This paper studies the relationship between risk propensity, education and financial literacy. The results of the empirical investigation confirm the importance of the key explanatory variables of education and financial competence. Since they are both included in the model, the different roles...