The extensive empirical literature on the validity of Gibrat’s law does not in general verify the law as it finds that firms’ growth rates are negatively correlated with both firm size and age. However, some studies find that Gibrat’s law holds for sub-samples of firms such as large firms...

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Persistence in corporate performance is analyzed in the framework of empirical tests of unit root behavior concerning firm profits. Data for firm-specific rates of return is applied in a set of panel unit root tests to address the question of persistence in profits both at firm level and for the...

According to the economic literature, industrial clusters are groups of firms on the same <p> location composing a production system with spillovers that can be vertical and/or <p> horizontal. This paper focuses on horizontal clusters by exploring the spatial <p> distribution of industrial clusters in...</p></p></p>

The aim of the paper is to examine the relationship between R&D capital and productivity using microdata for Danish manufacturing firms. The influence of factors such as ownership, innovative characteristics and source of funding accounted for. The return to accumulated R&D capital is estimated...

In this paper we analyse the determinants of R&D spending in Danish firms and firms and industries in the nineties. We also examine the complementarity and substitution between publicly and company financed spending taking into account the influence from market structure, barriers of entry,...

In recent years much attention has been paid to especially entry studies within industrial organisation research. Firm mobility is important in order to move resources towards the most productive industries, and the threat from potential entrants can restrain the incumbents from exploiting their...

The rapid and continuous growth in the US in the 1990s and the simultaneous boom in the IT industry created the concept "The New Economy". What connects the two phenomena is that the IT industry alone is considered productive, and increased productivity in other industries, as a result of...

This paper analyses the role of R&D in the export behaviour of Danish firms. Export behaviour is defined as the likelihood of a firm being an exporter. In the theoretical part of the paper it is argued that export and being R&D active are endogenous with respect to each other, and an empirical...

It is a commonplace to assume that competition within an industry reduces firms’ profit margins and production inefficiency and increases the effort and resources firms spend on innovations. Although theoretically there are good reasons to believe that competition will increase the...