We test the hypotheses that zombie firms are less productive and have lower employment growth and lower gross investment ratios than non-zombie firms in the same industry sector and that they are a source of contagion for the latter. Ever since Caballero et al. (2008), it has been taken for...

This paper implements both stochastic production and cost frontier analyses to estimate the efficiency of toll motorway companies in Spain, the country with the largest number of private concessionaires in this economic sector. Our dataset includes 32 concessionaires with different features for...

In this study, we review the studies on the relation between firms' efficiency or profitability and their exit. Although we take it for granted that inefficient or unprofitable firms are more likely to exit, which we call the natural selection hypothesis, some theories predict that it is not...

Are dominant online search engines monopolies enjoying low contest-ability, due to high barriers to entry, or innovative first-movers? This paper argues that dominant online search engines maintain their leadership through an “innovation feedback loop”: a process whereby increasing R&D...

This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of foreign direct investment (FDI) on various outcomes of domestic firms. We apply recent methodological advances in the estimation of production functions together with detailed product-level information...

Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational "fitness" within a competitive environment, firm growth is also a central concern to both the practice and...

We study the determinants of value creation in the cross section of U.S. commercial banks. We develop novel measures of individual bank's productivities at collecting deposits and making loans. We relate these measures to bank market values and find that variation in deposit productivity...

The current paper reviews the impacts and effects of technical transfer and change on the economic patterns of developing countries. It has been postulated that production factors, labor and capital have the greatest effects on economic and development patterns. However, technical change emerges...

Short-term increasing returns to production factors are usually found in empirical studies. We argue they can be due to omitted variables, particularly the intensity of factor utilisation. Thanks to original French firm-level data (1992-2008), we show how increasing returns to scale disappear...

The present paper analyzes the impacts of total labor productivity and efficiency in Oman State. As a Gulf state it has depended on oil production for its economic life for the past decades. However, it was typically known for traditional industries and trade, helped by her long sea shores and...