نتایج جستجو برای: fixed capital
تعداد نتایج: 277235 فیلتر نتایج به سال:
We examine the relation between venture capital (VC) investments and mergers and acquisitions (M&A) activity around the world. We find evidence of a strong positive association between VC investments and lagged M&A activity, consistent with the hypothesis that an active M&A market provides viable exit opportunities for VC companies and therefore incentivizes them to engage in more deals. We als...
This paper investigates the effects of input-trade liberalization on firms’ decision to upgrade foreign technology embodied in imported capital goods. We develop a simple theoretical model of endogenous technology adoption, heterogeneous firms and imported inputs. Assuming that imported intermediate goods and high-technology are complementary and the existence of technology adoption fixed costs...
Our paper analyzes the causal links between human capital accumulation and growth in total factor productivity (TFP). In particular, it tests the NelsonPhelps hypothesis that human capital is crucial in enabling the imitation of technologies developed at the frontier. To this end we calculate TFP for a sample of 86 heterogeneous countries over the period 1960-1990 and investigate whether there ...
Neoclassical models postulate that firms’ investment is determined by expected profitability and the cost of capital. Capital market imperfections, caused by information asymmetries and agency costs, lead to a modified investment scenario, where the external cost of capital is higher than the cost of internal funds. This, in turn, leads to the well-known result of underinvestment by firms. We h...
West Africa is vulnerable to the effects of climate change. This paper analyzed the impacts of climate change on economic growth in Anglophone West Africa with similar background, during the periods 1969-2016. Five growth model equations have been developed to incorporate climate change variables into the model. Panel data estimations such as the fixed effect model, random effect model and Haus...
Many recent studies exploring conditional factor demand or factor substitution issues use firm level panel data. A considerable number of establishment panels contains no direct information on the capital input, necessary for production or cost function estimation. Incorrect measurement of capital leads to biased estimates and casts doubt on any inference on output elasticities or input substit...
Introduction Social capital, characterised by trust, reciprocity and cooperation, is positively associated with a number of health outcomes. We test the hypothesis that among hypertensive individuals, those with greater social capital are more likely to have their hypertension detected, treated and controlled. Methods Cross-sectional data from 21 countries in the Prospective Urban and Rural E...
There is growing interest in the role of social relationships in explaining patterns of health. We contribute to this debate by investigating the impact of social capital on self-reported health for eight countries from the Commonwealth of Independent States. We rely on three indicators of social capital at the individual level (trust, participation in local organisations, social isolation) and...
This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan progra...
Though overall bank performance from July 2007 to December 2008 was the worst since at least the Great Depression, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We use this variation to evaluate the importance of factors that have been discussed as having contributed to the poor performance of banks during the credit cri...
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