Over the past 25 years, the USA has pioneered a new technological revolution, based on large numbers of new small enterprises, financed by a dynamic venture (risk) capital market. The European Union, meanwhile, has lagged behind in this sector of economic activity, and compared to the US...

In recent years, stimulated by globalization, technological innovation and intensifying international competition, there has been a growing trend towards the increasing institutional and geographical concentration of financial systems and markets. At the same time, there has been mounting...

The paper examines the relation between forms of financing and the level of expenditure on research and development (R&D). The paper shows that the probability of issuing new equity rises monotonically with the level of expenditure on R&D, whilst the use of debt finance follows an inverted U...

The issue of ‘equity gaps’ has loomed large in recent discussions of enterprise formation and development, both in the United Kingdom and in Germany. One particularly intriguing, but highly elusive, aspect of this issue is the question of whether equity gaps have a regional dimension: are...

The intensity of competition in Central, Eastern and Southeast Europe stylized facts and repercussions for sectoral price developments (by M. Feldkircher, R. Martin and J. Wörz; pp. 1-7) Keywords inflation, mark-ups, competition, concentration Countries covered CEE, SEE Topics Macroeconomic...

Heat integration is a key measure to improving energy efficiency and maximising heat recovery. Since the advent of Pinch analysis in the 1980s, direct and indirect integration approaches have developed in separate domains with very few examples where both approaches are utilised together to...