Ethanol production from non-edible feedstock has received significant attention over the past two decades. The utilisation of agricultural residues within the biorefinery concept can positively contribute to the renewable production of fuels. To this end, this study proposes the utilisation of...

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for...