This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...

The Russian-Ukrainian war has led to an increase of stress on forests. International sanctions have hit timber exports from Russia and Belarus, and the conflict severely affects timber production in Ukraine. The three countries accounted for a quarter of the worldwide timber trade in 2021, and...

This paper examines the wage earnings of fully-employed previous refugee immigrants in Sweden. Using administrative employer-employee data from 1990 onwards, about 100,000 refugee immigrants who arrived between 1980 and 1996 and were granted asylum, are compared to a matched sample of...

The net-zero agreement on carbon emission from Paris 2015 gives a key role to fossil-free energy technologies with an expected multifold growth rate over the coming decades, when successively replacing oil, coal, and gas. In this paper, we delve into the EU's competitive advantage in the...

Recent studies have documented extensive heterogeneity in firm performance within countries, and innovation has been found as an important determinant. This paper addresses the issue of innovation firm performance across countries. A growing number of national firm level studies on the...

This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm?s equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...

This paper investigates whether failure in innovation at the firm level can account for cross-country heterogeneity in manufacturing productivity growth. There is no strong evidence in the literature on the existence of such link. Our work, however, differs in a number of ways from much of the...

This study elucidates the relationship between localisation of firms, corporate structure, intellectual capital and innovations.The main finding is that a greater concentration of multinational firms, human capital, T&D and universities is significantly and positive associated with research...