Kalman filtering is used as a method of analysing the expectation formulation procedures employed by companies. The filter permits a number of alternative representations of managers' models of their firms activities to be compared. Applying the procedure to United Kingdom data on expectations,...

The focus of this article is the comparison of the relative influence of different determinants of investment (demand, the relative price of capital and labour, and profit) for five large European countries and the United States. The investment equations are derived from production functions,...

The paper examines interrelations between corporate governance, competition and performance. Traditional theories emphasise the importance of managerial incentives and disciplining in corporate governance, and how institutional arrangements affect financing. The paper argues that ownership and...