The extensive empirical literature on the validity of Gibrat’s law does not in general verify the law as it finds that firms’ growth rates are negatively correlated with both firm size and age. However, some studies find that Gibrat’s law holds for sub-samples of firms such as large firms...

The decision on investment in R&D is very important and highly risky for firms’ performance and survival in their business. This paper focuses on the commercialization of firms’ investment in innovation and how these decisions affect their performance. The study uses a large innovation...

The question whether intake of alcohol is associated with liver cirrhosis mortality is analyzed using aggregate data for alcohol consumption, alcohol related diseases and alcohol policies of 16 European countries. The empirical analysis gives support to a close association between cirrhosis...

Using regional income data covering the time period since the early 1970s for all regions of <p> the Scandinavian countries the often addressed topic of income convergence is tested. The <p> empirical part of the paper applies different tests of convergence which are usually appearing <p> in connection...</p></p></p>

Auctions of selected wines have regularly taken place internationally and from natural reasons they <p> have mostly involved the finest wines as e.g. the top wines from Bordeaux. In order to analyse <p> specific auction wine prices, the Mouton Rothschild (Medoc Premier Cru Classé) has been selected <p>...</p></p></p>

This book explores the revolutionary development of the theory of the firm over the past 35 years. Despite rapid progress in the field, new developments in the microeconomic and industrial organization literature have been relatively scant. This book attempts to redress the balance by providing...

The aim of the paper is to examine the relationship between R&D capital and productivity using microdata for Danish manufacturing firms. The influence of factors such as ownership, innovative characteristics and source of funding accounted for. The return to accumulated R&D capital is estimated...

In this paper we analyse the determinants of R&D spending in Danish firms and firms and industries in the nineties. We also examine the complementarity and substitution between publicly and company financed spending taking into account the influence from market structure, barriers of entry,...