There is some controversy regarding the key sources of success in the private equity business model and on how this business model affects the portfolio companies. Does this success come from value creation or…
Theoretical arguments for the tax sensitivity of capital structures are convincing. Empirical findings instead have for years been rather weak. Even today, despite a surge of studies providing point estimates…
Regional economic prospects to some extent seem to hinge on the region’s human capital endowment and, thus, its ability to attract skilled labour. For any related policy, it is thus important to better…
No matter how well resourced, innovation efforts are prone to failure. This paper investigates how the allocation of resources to product innovation projects allows firms to cope with this challenge. We assume…
Trust is an essential ingredient of social life. But trust is not considered an essential ingredient in the models of selfish behavior on which modern economic theory is built. In the present study, we …
In many markets, firms are interlocked by the fact that either firms own shares of each other, or investors own shares of several competitors in the very same market. In this context, partial ownership is the…
