Background: Internet finance has grown rapidly in China over the past years. Through introducing internet finance's 'reducing management cost' and 'raising capital cost' effects into bank risk-taking model, this paper systematically investigates the dynamic and heterogeneous influence of...

Background: Internet finance has grown rapidly in China over the past years. Through introducing internet finance’s “reducing management cost” and “raising capital cost” effects into bank risk-taking model, this paper systematically investigates the dynamic and heterogeneous influence...

Previous empirical research on small and medium-sized enterprises (SMEs) frequently struggled with the extreme heterogeneity of these frms. We scrutinise one major source of this heterogeneity: SMEs' growth development. Based on a large dataset of French, Italian, UK and US firms between 2000...

We highlight the fact that the Sargan-Hansen test for GMM estimators applied to panel data is a joint test of valid orthogonality conditions and coefficient stability over time. A possible reason why the null hypothesis of valid orthogonality conditions is rejected is therefore that the slope...

This article analyses the impact of imports and exports, from and towards the most important Colombiantrade partners (United States, European Union, China, Andean Community of Nations, Venezuela, Brazil andMexico), on employment in the manufacturing sector during 2000 ‐ 2007. We use the System...

The predicted labor supply responses to variations in wages and prices are important for discussions of the economic efficiency of taxes and subsidies, and their extent may be also relevant to the analysis of economic fluctuations. This paper presents new estimates of the wage intertemporal...

Based on German data between 1999 and 2007, we analyze the growth factors of SMEs and contrast them with those of large _rms. Differences show up both in balance sheet and employment growth. While we confirm earlier results on inherent growth structures and the influence of firm age, we derive...

Based on German data between 1999 and 2007, we analyze the growth factors of SMEs and contrast them with those of large _rms. Differences show up both in balance sheet and employment growth. While we confirm earlier results on inherent growth structures and the influence of firm age, we derive...

Properties of GMM estimators for panel data, which have become very popular in the empirical economic growth literature, are not well known when the number of individuals is small. This paper analyses through Monte Carlo simulations the properties of various GMM and other estimators when the...