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...