Banks provide credit to large firms either to finance large firms’ investment projects with positive net present values or to lend out SMEs indirectly through the expansion of trade credit by large firms which have Access to bank credit. The aim of the current article is twofold: to provide...

We propose a framework for causal inference using factor models. We base our identification strategy on the assumption that policy interventions cause structural breaks in the factor loadings for the treated units. The method allows heterogeneous trends and is easy to implement. We compare our...

Economic growth requires growth of energy consumption. In the second half of the twentieth century energy consumption began to outgrow its production and the United States. Consequently, we observe growing dependence of the U.S. economy on energy imports which is causing political and economic...

This paper studies the sequential sampling scheme as a solution to the problem of aliasing, where the sampling interval is restricted to a minimum allowable value. Sequential sampling is analyzed and it is proved that when the sampling ratio is an integral number, the associated spectral...

An approach to incorporate spatial dependence into Stochastic Frontier analysis is developed and applied to a sample of 215 dairy farms in England and Wales. A number of alternative specifications for the spatial weight matrix are used to analyse the effect of these on the estimation of spatial...

This paper redefines technical efficiency by incorporating provision of environmental goods as one of the outputs of the farm within a multi-outptut distance function framework. Permanent and rough grassland area are used as a proxy for the provision of environmental goods. The multi-output...

We study the possibility of completing data bases of a sample of governance, diversification and value creation variables by providing a well adapted method to reconstruct the missing parts in order to obtain a complete sample to be applied for testing the ownership-structure / diversification...

In this paper, we examine a series of questions about bilateral trade flows in the light of a rich and up-to-date panel data set. The analyses performed reveal that (1) globalization process has been functioning in a number of ways, (2) functioning of economic regions display alternative results...

The problem of piracy has always existed since the beginning of the creation of computers, namely using rudimentary methods. With the emergence and development of Internet and computers more powerful, more sophisticated ways were emerging and less expensive to pirate. Today hacking/software...