Venture capital as a part of regional innovation system is assumed to play an important role for the commercialisation of innovative ideas and the development of high-technology industries in a region. This…
This paper investigates whether failure in innovation at the firm level can account for cross-country heterogeneity in manufacturing productivity growth. There is no strong evidence in the literature on the…
This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm’s equity or bank-debt financing investments. Using a dynamic adjustment approach…