This paper analyses whether the strengthening of intellectual property rights (IPRs) systems affects decisions of cross-border mergers and acquisitions (M&As), and if their influence is different for developed and developing countries, and across industrial sectors. We estimate an extended...

This paper analyzes the sources of export volatility estimating a dynamic factor model on transaction-level data. Using an exhaustive dataset covering all French export transactions over the period 1993-2017, we reconstruct the latent factor space associated to global and destination-specific...

We propose a refinement of the criterion by Bai and Ng [2002] for determining the number of static factors in factor models with large data-sets. It consists in multiplying the penalty function by a constant which tunes the penalizing power of the function itself as in the Hallin and Liska...