Showing 1 - 10 of 163,778
innovation activity. The research was conducted on a sample of 403 firms, including large companies. The modified methodology for …, contrary to non-innovative SMEs and large enterprises, both the innovators and those with low innovation potential. Based on …
Persistent link: https://www.econbiz.de/10015337949
developing economies with less well-developed financial markets. As innovation is a central driver of growth, it is therefore … important for policymakers to understand how different sources of financing may affect innovation. Extant literature emphasizes … the effect on innovation inclusive of other sources of external finance that may be particularly important in the …
Persistent link: https://www.econbiz.de/10013006665
Corporate innovation is an increasingly important topic that has attracted great attention from academic researchers in … Financial Economics, and the Review of Financial Studies) together published a total of only five papers on corporate innovation … the drivers and financing sources of corporate innovation …
Persistent link: https://www.econbiz.de/10012900738
idea that export intensity and innovation intensity are driving channels of exporting and innovative firms investment … export and innovation performances vanish firms investment sensitivity to financing constraints. Moreover, exporting firms … export intensity is significantly and positively sensitive to days receivable outstanding while innovative firms innovation …
Persistent link: https://www.econbiz.de/10012828691
Each company operates within the framework of interrelated structures: ownership, corporate governance and capital … notable difference is related to CEO-duality, which plays a significant role in corporate governance only in innovative firms …
Persistent link: https://www.econbiz.de/10012891296
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10014025559
We develop an economic theory of “flexibility”, which we interpret as the discretion orability to make a decision that others disagree with. We show that flexibility is essentiallyan option for the decisionmaker, and can be valued as such. The value of the flexibilityoption is decreasing in...
Persistent link: https://www.econbiz.de/10011332819
When drafting a contract, it is often impossible for the parties to consider and specify in the contract all kinds of … incomplete. The parties can fill this incompleteness to some extent by including in the contract a mechanism to review the terms … conditions for the contract execution, to which contract counterparties can lead due to their actions considering the possible …
Persistent link: https://www.econbiz.de/10012948180
operating losses (operating shortfalls). In this paper, we rationalize this as an optimal response in a world with contract …
Persistent link: https://www.econbiz.de/10003904170
behavioral aspects can affect contract design in the market for syndicated loans. …
Persistent link: https://www.econbiz.de/10010403646