High growth episodes among R&D intensive firms: Evidence for Europe, US and Japan

Panel Causality Relationship Among FDI And Trade (Evidence From 16 Advanced Europe Countries)

Growth Opportunities, Knowledge Capital and Leverage: Evidence from US Biotech Firms

This paper investigates the interaction among a firm’s knowledge capital, growth opportunities, earning dynamics, and optimal leverage level. Under the corporate taxation and personal taxation framework, by assuming knowledge capital positively affects the realization of a firm’s growth opportunities, I find a positive relation between a firm’s optimal debt level and its knowledge capital. Mean...

Bank Distress and Productivity of Borrowing Firms: Evidence from Japan

We investigate the effects of bank distress on the productivity of borrowing firms by using data on listed companies in the Japanese manufacturing industry during the 1990s. We find some evidence suggesting that deterioration in the financial health of banks, such as a decline in the capital-asset ratio, decreased the productivity of their borrowers during the period of the severe financial cri...

Competencies and Institutions Fostering High - growth Firms *

High-growth firms (HGFs) are critical for net job creation and economic growth. We analyze HGFs using the theory of competence blocs, linking firm growth to property rights and the interaction of complementary expertise. Specifically, we discuss how the institutional framework affects the prevalence and performance of HGFs. Firm growth is viewed as resulting from the perpetual discovery and use...

Personnel-Economic Geography: Evidence from Large US Law Firms

We examine the role of hiring networks stemming from information asymmetries or co-worker complementarities in determining the personnel-economic geography of large US law firms. We show, using the Ellison and Glaeser (1997) index of concentration, that large law firms tend to be concentrated with regard to the law schools they hire from. There is substantial across-firm heterogeneity in law-sc...