For almost a decade all three Baltic countries have witnessed substantial deficits on the current accounts of the balance of payments. This paper discusses whether this situation should be a matter of concern. Recent literature on the sustainability of balance of payments deficits is reviewed...

The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the...

Using firm-level data from the World Bank's Enterprise Surveys, the paper investigates, across 8 European and Central Asian countries, the hypothesis that female entrepreneurs are more likely to exhibit green behaviour, by adopting new and more environmentally friendly and/or energy efficient...

The paper investigates the impact of ownership concentration on the likelihood that firms are involved in innovative activities or invest in research and development. We find that more dispersed ownership significantly increases the probability that a firm is engaged in innovation or invests in...

The globalization of the brewing industry after the turn of the century through a large wave of mergers and acquisitions has changed the structure of the world beer markets. The paper tracks the development in industry concentrations from 2002 to 2012 and points to high transportation costs for...

This paper analyses wage formation in the Nordic countries at the regional level by the use of micro-data. Our results deviate systematically from the main conclusions drawn by Blanchflower and Oswald (1994). We find no stable negative relation between wages and unemployment across regions in...

Using firm-level data from the World Bank's Enterprise Surveys, the paper investigates, across 8 European and Central Asian countries, the hypothesis that female entrepreneurs are more likely to exhibit green behaviour, by adopting new and more environmentally friendly and/or energy efficient...

The purpose of the paper is to relate the tourism demand model with the traditional theories that explain international trade flows. In the existing tourism literature, tourism flows and tourism demand forecasts are typically explained by the demand-side variables. But in the traditional trade...

Foreign subsidiary performance and market efficiency effects are estimated and confronted in this paper using a rich firm-level panel for Polish manufacturing. Besides estimating total factor productivity, other performance measures are calculated and contrasted such as labor productivity,...