This paper uses a new data-set to examine how internal capital markets and foreign ownership affect investment. Our … data allow us to compare investment behaviour of listed subsidiaries with stand-alone firms while controlling for … investment opportunities of parent and subsidiary firms. We evaluate how the size of ownership and the geographical proximity of …

there is a relation in terms of both industry growth rates and shares of output devoted to R&D. Investment in R&D rather …

This paper compares corporate financing in the German bank-based and UK market-based systems. Large German firms pay …

Flow of funds data are used to compare methods of financing the corporate sector in five countries over the period 1970 …-85. Many of the problems associated with previous studies of corporate finance are avoided by defining financing proportions in … compensating deposit requirements on borrowers no longer distort financing patterns when net financing is the focus. Corrections …

incentives for investment in rolling stock, following the privatization of British Rail. Theoretical predictions are tested … incentives for delayed investment. Investing just before the end of the franchise enhances the incumbent’s probability of having …

Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across … recent work on management practices. Our preliminary results suggest that about a quarter of cross-country and within …-country TFP gaps can be accounted for by management practices. Management seems to matter both qualitatively and quantitatively …