In this paper, we challenge the view that foreign investors lead firms to adopt a shortterm orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the 2001-2010 period, we find instead that greater foreign institutional ownership fosters long-term investment in tangible, intangible, and human capital. Foreign institutional presence...

Technological Innovation, Financial Fragility and Complex Dynamics In this paper we suggest a scaling approach to business cycles. We develop a heterogeneous interacting agents (HIAs) model that replicates well known industrial dynamics stylized facts, as the power law distribution of firms’ size and the Laplace distribution of firms’ growth rates. In particular, the power law is a persistent b...

In recent years, the economics of migration literature has shown a substantial growth in papers exploring host country impacts beyond the labour market. Specifically, researchers have begun to shift their attention from labour market and fiscal changes, towards exploring what we might call ‘the wider effects of migration’ on the production and consumption sides of the economy – and the role of ...

A new, systematic and integrated way of building a national information and communication technology (ICT) frontier is proposed for countries specialized in ICT for export. Using patent citation as a proxy of interaction between technologies, a national ICT network is developed. Local core ICTs are identified by using two centrality measures and five brokerage measures. The importance in terms ...

This paper considers three firms that engage in an R&D contest to develop a new profitable technology. For a broad range of parameters, the firm that leads the contest (i.e., has the highest probability of success) is better-off licensing or selling its superior interim knowledge to one of the two lagging firms or to both rather than holding on to its lead. Although transferring interim R&D kno...

There is an increasing trend for Multi-National Enterprises (MNEs) to off-shore R&D activities to developing countries where Intellectual Property regimes (IP) are weak. Prior work in international trade theory suggests that there is limited technology transfer by MNE to destinations with weak IP regimes. However, there is considerable evidence that MNE offshore significant levels of R&D, over ...

This paper examines whether UK firms that locate their R&D activity in the USA benefit more than other UK firms from knowledge spillovers originating from US R&D. Patent data provides a firm-level measure of the location of innovative activity, which enables the identification of knowledge spillovers associated with "technology sourcing". Our identification strategy helps to address various pro...

Penatti M.P.A., Silva A.S., Valadares G.F. & Leite D.S. 2005. Occurrence of F42 colonization factor in Escherichia coli strains isolated from piglets with diarrhea. Pesquisa Veterinária Brasileira 25(1):31-33. Depto Microbiologia e Imunologia, Instituto de Biologia, Unicamp, Campinas, SP 13081-970, Brazil. E-mail: [email protected] The objective of this study was to determine the presence of ...

The spread of information technology and the digitalization financial services raise a range theoretical questions as structures banking industry undergo change. This change has intensified with impact COVID-19 pandemic which is already being observed. purpose this study therefore threefold: (1) to analyze IT on strategy functioning pre-COVID-19 sector; (2) challenges banks are facing in COVID ...