Viele empirische Arbeiten sind dem Kreditrückzahlungsrisiko in Entwicklungsländern gewidmet. Generelles Ergebnis ist, daß eine bessere Kreditwürdigkeitsanalyse vor der Kreditgewährung dieses Risiko erheblich verringern würde. Im vorliegenden Beitrag wird ein Modell zur...

AbstractWe investigate the moderating role of governments’ financial constraints in the relationship between their ownership of publicly listed firms and dividend policy. Using a worldwide sample of 1,906 publicly listed firms that were targets of government investments over the period from...

Consisting of teams working with firm level data, the International Study Group on Exports and Productivity has used comparable micro level panel data for 14 countries and a set of identically specified empirical models to investigate the relationship between exports and productivity. The...

The paper investigates the impact that the multinational scope of firms' activities can have on their productivity. First, we argue that such an impact is both direct and indirect, and that the latter is channelled through higher incentives to invest in R&D. Second, we posit that the composition...