Let X1,X2,...Xn be independent and identically distributed (i.i.d.) non-negative random variables with a common distribution function (d.f.) F with unbounded support and . We show that for a large class of heavy tailed random variables with a finite variance the renewal function U satisfies as...

Purpose: The purpose of this paper is to estimate the impact of China's outward foreign direct investment (OFDI) conducted by exporting firms on their productivity. Design/methodology/approach: This study uses two Chinese firm-level datasets. To reduce the bias when merging the two datasets,...