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Organisation capital is one of the key intangible assets of firms, driving innovation and firm performance. Measuring … organisation capital primarily by monetary investment but rather through establishing new organisational routines and building up … databases, firm-specific human capital, brand equity), but excluding organisation capital. The residuum of the estimation is …
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We present a sticky-price model incorporating heterogeneous firms and systematic firm-level productivity trends. Aggregating the model in closed form, we show that it delivers radically different predictions for the optimal inflation rate than canonical sticky price models featuring homogenous...
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Thirty years after the seminal work of Modigliani and Miller and countless articles the capital structure puzzle is for the most part unsolved. Especially, in this field of research there is a considerable lack of empirical evidence. Using firm level data from seven European countries, this...
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