Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non …-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel … probit. Four main findings emerge. First, similar to results for non-financial firms, a productivity pecking order drives …

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non …-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel … probit. Four main findings emerge. First, similar to results for non-financial firms, a productivity pecking order drives …

productivity, financial constraints and labor market constraints might constitute barriers to entry into foreign markets. We … size and productivity on firms’ international activities. Second, small firms suffer more frequently from financial … ; productivity ; financial constraints ; labor market constraints …

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non …-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel … probit. Four main findings emerge. First, similar to results for non-financial firms, a productivity pecking order drives …

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non …-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel … probit. Four main findings emerge. First, similar to results for non-financial firms, a productivity pecking order drives …

productivity, financial constraints and labor market constraints might constitute barriers to entry into foreign markets. We … size and productivity on firms' international activities. Second, small firms suffer more frequently from financial …

Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross …

Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross …