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The interdependence of R&D activity and debt financing of young firms

Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2011

We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the … interdependent relationship between the share of loan financing and R&D intensity. A higher share of loan financing allows for more R … detected by merely estimating single-equation models for R&D intensity and debt financing. …

Persistent link: https://www.econbiz.de/10010286852

Excess leverage and productivity growth in emerging economies: Is there a threshold effect?

Coricelli, Fabrizio; Driffield, Nigel; Pal, Sarmistha; … - 2010

The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...

Persistent link: https://www.econbiz.de/10010269864

Evolution of capital structure in East Asia: corporate inertia or endeavours?

Driffield, Nigel; Pal, Sarmistha - 2008

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

Persistent link: https://www.econbiz.de/10010268733

Internal finance and growth: microeconometric evidence on Chinese firms

Guariglia, Alessandra; Liu, Xiaoxuan; Song, Lina - 2008

Does the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, we use a panel of 407,096 Chinese firms over the period 2000-2005. We estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned...

Persistent link: https://www.econbiz.de/10010269180

Entrepreneurship programs in developing countries: A meta regression analysis

Cho, Yoonyoung; Trionfi Honorati, Maddalena - 2013

and financing is more effective for labor activities. Additionally, financing support appears more effective for women and …

Persistent link: https://www.econbiz.de/10010293215

Entrepreneurship Programs in Developing Countries: A Meta Regression Analysis

Cho, Yoon Y.; Honorati, Maddalena - Institute for the Study of Labor (IZA) - 2013

and financing is more effective for labor activities. Additionally, financing support appears more effective for women and …

Persistent link: https://www.econbiz.de/10010959760

Financing Social Protection in OECD Countries: Role and Uses of Revenue Earmarking

Immervoll, Herwig - 2024

compares financing patterns and trends and provides examples of earmarking for social insurance and assistance programmes. It … concludes with a discussion of carbon pricing as a potential source of financing social support programmes. …

Persistent link: https://www.econbiz.de/10015096877

Not so lucky any more: CEO compensation in financially distressed firms

Kang, Qiang; Mitnik, Oscar A. - 2008

There is a debate on whether executive pay reflects rent extraction due to managerial power or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...

Persistent link: https://www.econbiz.de/10010269077

CEO and board characteristics as determinants of private benefits of control: Evidence from the Russian stock exchange

Berezinets, Irina; Ilina, Yulia; Muravyev, Alexander - 2011

This paper investigates whether and how various characteristics of CEOs and corporate boards are related to the severity of corporate governance problems within firms. The latter is proxied by private benefits of control, which we measure for dual class stock firms using the voting premium...

Persistent link: https://www.econbiz.de/10010282260

Convergence in institutions and market outcomes: cross-country and time-series evidence from the BEEPS surveys in transition economies

Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - 2008

This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...

Persistent link: https://www.econbiz.de/10010269128