Private equity companies have become a major force in the economic landscape. Financial- and operational-engineering are innovative characteristics of this emerging method of finance. The existing empirical data provide strong evidence that private equity activity contribute positively to the...

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory to identify the effects of prohibiting start-up acquisitions. We differentiate between killer acquisitions (when the incumbent does not commercialize the acquired start-up's...

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other acquisitions only has a weakly negative innovation...

This paper explores the regional economic impact of mineral resource endowment and offers specific inputs to the debate on the local content requirement (LCR) policy, gaining urgency in modern economic and political environment. Focusing on the experience of the Eastern Siberia the paper...

This paper studies the effect of oil discoveries on economic growth in Brazilian municipalities for the period from 1940 to 2000. It uses a unique identification strategy which exploits data on the drilling of approximately 20,000 oil wells in Brazil since oil explorations began in the country....

Russia is one of the key players in the Arctic with ambitions to continue development its Arctic oil resources. Nowadays the only fully launched oil and gas offshore project in Russia is the platform Prirazlomnaya, a number of other projects are at the various stages of realization and their...