It is a highly disputed question in the literature how state subsidy influences the behavior of the entrepreneurs and accordingly the growth prospects of the economy. Most authors agree that state intervention in financing deteriorates the incentives of the entrepreneur, but there is no...

Since the beginning of the financial crisis, one of the key challenges of the economic policy has been to boost the growth of firms, particularly in the CEE region. Various research has showed that obstacles limiting and boosters enhancing companies' development potential differ across...

When focusing on business performance of a country, industry or an individual firm the performance of companies may be tracked using various measures. By simulating the behaviour of a simple firm, our model underlines that the choice of measurement unit determines what distortions we will face,...

It is one of the key targets of both national governments and the EU to reduce regional development differences. This paper reviews the proof of existence and potential explanations of subnational regional deviations in competitiveness. Then, the financial data of a sample of Hungarian...