This paper studies the relationship between environmental innovations and firms' financial performance from the perspective of environmental activism intensity. We explore how the number of green patents affects the financial performance of small, medium, and large firms and whether the growing...

Using linked employer-employee data on labor market biographies of workers in Germany, this paper analyzes where valuable work experience is primarily acquired. It distinguishes between learning effects related to firm size and labor market size. We show that wages increase with the size of the...

Financially distressed companies are more likely to be rescued as going concerns if they enter into debt restructuring early whilst still high up on the ‘demise curve’. In Hong Kong, early-stage non-consensual debt restructuring is effected via the scheme of arrangement. Yet, despite the...

This study examines the association between a firm’s environmental, social and governance (ESG) performance and financial performance by examining the extent to which stakeholder and legitimacy theory help explain the effects on explanatory variables used in the study. Moreover, the study...

Solving Canada's perennial productivity problem will partially be addressed by creating companies that scale from start-up to world-class status. Canada has been challenged at scaling companies and, in fact, has the lowest number of manufacturing companies with over 250 employees per one million...

Objective: The objective of this article is to identify the impact of market orientation on company competitiveness of internationalized medium and large enterprises present in Central Eastern Europe and/or Western Europe in the period of economic growth. Research Design & Methods: Quantitative...

Purpose - The unprecedented economic crisis in Greece deeply affected entrepreneurship, which was traditionally characterised by low levels of innovation and competitiveness, the dominant presence of micro-sized enterprises and the weak signs of prosperity in large firms. This paper, in...

There was a significant increase in the number of women on executive boards of large companies in Germany from 2020 to 2021 after years of slow progress: In fall 2021, there were 139 women on the executive boards of the 200 largest companies, 38 more than in 2020. This is an increase of a good...

In this paper we aim, first, to examine how an economy's financial development affects the welfare gains from trade and, second, to uncover how large firms threaten to suppress these gains, through the exertion of market power and their confirmed preferential access to liquidity. To this...

We use the prolonged Greek crisis as a case study to understand how a lasting economic shock affects the innovation strategies of firms in economies with moderate innovation activities. Adopting the 3-stage CDM model, we explore the link between R&D, innovation, and productivity for different...

We use the prolonged Greek crisis as a case study to understand how a lasting economic shock affects the innovation strategies of firms in economies with moderate innovation activities. Adopting the 3-stage CDM model, we explore the link between R&D, innovation, and productivity for different...

The post-Enron era is marked with growing discourse of stakeholders, sustainability, and corporate social responsibility (CSR). Commentators debate whether U.S. corporations have indeed moved towards a stakeholder orientation, given the difficulties in measuring such a shift. We assess this...

Productivity is known as the one of the most important engines for achieving sustainable growth of an economy. It implies the efficiency of the production process or the innovation in the economy. That is, through improving productivity, the present generation can meet its needs without...

In July 2021, a sweeping executive order committed the entire U.S federal government to reining in big business. Dozens of proposed bills at the state level similarly target big business for stricter regulatory treatment. But unlike in past decades, today’s calls to break up and intensely...

Using newly-assembled data encompassing up to 75 countries and starting circa 1910, we find that the Schumpeterian process of creative destruction aptly describes the replacement of large firms by other firms, but exceptions to the norm of replacement are not rare and replacement is often not by...

The emergence of large institutional investors in local housing markets is growing concern to policymakers and planners. This study examines how their growing market presence in the single-family detached market has impacted the homeownership. Leveraging both spatial and temporal variations in...

With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering the near- universe of modern business cycles. We...

The employment effect of large firms on small firms has rarely been studied. Using establishment data in Japan, this study examines firms with the top 1% of sales, comparing the effect of such firms with many employees (more than the small- and medium-sized enterprise thresholds or 1000...

The prevailing wisdom in media accounts is that job stability has vanished, especially for those in large corporations. Academic studies of job stability have found little difference between the 1990s and earlier decades, but these studies have not been able to focus on large firms. This paper...

In this paper, we investigate whether the liquidity support from the 2008 quantitative easing (QE) influenced the capital structures of large firms. We find that large firms generally increased their proportions of debt financing and leverage ratios during QE. Among small firms, only those with...

We examine the relationship between large firms and the rising profit share in a model that features oligopolistic competition and consumer heterogeneity. Conditional on the sales distribution, the presence of consumer heterogeneity increases the profit share because it increases firm-level...

Evasion of labor market regulations in middle income countries is systemic. This is generally known as informality. In Latin America, where less than 50% of workers are registered with social security, this is a permanent phenomenon and encompasses a variety of economic realities ranging from...

The proportion of women on the boards of large companies in Germany continued to increase during 2020. In the fourth quarter of 2020, there were 101 female executive board members in the 200 largest companies, seven more than in 2019. However, growth was slow, as it was in some of the other...

Despite accounts of increasing large farm penetration in Africa and an active debate on the differential potential of smallholder versus large farms to satisfy Africa's food requirements, evidence on the extent and performance of different farm types remains limited. A census and subsequent...

This working paper reviews recent empirical evidence on large firms and nonproductive strategies that hinder creative destruction and reallocation. The focus is on three types of nonproductive strategies: political connections, nonproductive patenting, and anticompetitive acquisitions. Across...

Crowdfunding (CF), a method of raising small amounts of money on the Internet for development of new products and services, as well as solutions to regional development, was introduced in Japan some time ago. Expectations have remained high especially for reward-based CF (in which the payer...

We report insights about ICFR-related challenges and practices at large U.S. public companies from survey responses of 145 accounting executives and interviews of 16 accounting executives. Executives view controls around non-routine transactions, income tax provisions, and access to data as...

We use granular high-frequency data to precisely estimate the effect of COVID demand shocks, bank branches, PPP, and neighborhood peers within 200 yards of retail pharmacies. Neighborhood banks softened the immediate shock for independent pharmacies, but the effect is small. PPP has a larger...

Using proprietary data from AngelList Talent, we study how individuals’ job search and application behavior changed during the COVID downturn. We find that job seekers shifted their searches toward more established firms and away from early-stage startups, even within the same individual over...

When conducting research into small business, it is necessary to clearly define and identify the particular size classes of enterprises. This can be done by applying quantitative and/or qualitative criteria which reflect the specificity of business entities of different sizes. The effectiveness...

This paper ‘Demonetization Impact on Liquidity of Large Corporates in India’ focuses on the changes in the Liquidity pattern of the companies’ in-order to cope up with the Business Risk that emerged due to the unforeseen Demonetization Policy of the Government of India. The study aimed at...

In my dissertation, I examine intraorganizational social networks and their antecedents and consequences. The first paper, jointly authored with Michael Tushman, is a theoretical discussion of the role of social networks in inter-divisional coordination. Most large organizations fail to develop...

Using the data from the corporate tax transparency reports of entity tax information released by the Australian Taxation Office for the three income years 2013-14 to 2015-16, this study investigates the relations between (a) ‘taxable income’ in corporate tax return and ‘profit before...

Using proprietary data from AngelList Talent, we study how individuals' job search and application behavior changed during the COVID downturn. We find that job seekers shifted their searches toward more established firms and away from early-stage startups, even within the same individual over...