Search results for "Panel Data Analysis"

showing 3 items of 3 documents

Unveiling the Antecedents of International Diversification: An Agency Theory Approach

2014

While various studies have developed hypotheses about the antecedents of international diversification drawing mainly on the resource-based view, the behavioral theory of the firm, and the transaction costs literature, we advance our understanding by investigating the explanatory power of agency costs of free cash flow arguments. Using a sample panel of 167 Italian firms longitudinally evaluated during the 1980-2010 period, this study tests whether the firm’s choice to spread operations in multiple foreign countries is conditioned by excess of free cash flow and debt, especially in firm-contexts where agency problems are exacerbated by managers or large shareholders’ opportunism. We find th…

Agency Theory; International Diversification; Panel Data AnalysisActuarial scienceFree cash flowmedia_common.quotation_subjectAgency TheoryAgency costDiversification (finance)Principal–agent problemGeneral MedicineMonetary economicsSettore SECS-P/08 - Economia e Gestione delle ImpresePanel Data AnalysisCorporate GovernanceDebtInternational Diversification; Agency Theory; Corporate GovernanceOpportunismInternational DiversificationEconomicsCash flowExplanatory powermedia_common
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Unveiling the Antecedents of International Diversification: An Agency Theory Approach

2014

While various studies have developed hypotheses about the antecedents of international diversification drawing mainly on the resource-based view, the behavioral theory of the firm, and the transaction costs literature, we advance our understanding by investigating the explanatory power of agency costs of free cash flow arguments. Using a sample panel of 167 Italian firms longitudinally evaluated during the 1980-2010 period, this study tests whether the firm’s choice to spread operations in multiple foreign countries is conditioned by excess of free cash flow and debt, especially in firm-contexts where agency problems are exacerbated by managers or large shareholders’ opportunism. We find th…

Agency Theory; International Diversification; Panel Data AnalysisAgency TheoryInternational DiversificationSettore SECS-P/08 - Economia e Gestione delle ImpresePanel Data Analysis
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Research and Development Expenditures and Economic Growth in the EU: A Panel Data Analysis

2016

Abstract The main aim of the paper is to investigate the empirical relationship between research and development (R&D) expenditures and economic growth in the European Union member states in the period of 2000–2013. The empirical analysis is based on panel data regressions. The estimated model is the production function type standard growth model extended with R&D stock variable. The results show a statistically significant impact of R&D expenditures on the economic growth in the EU countries. The significance for R&D coefficient remains robust to different sub-periods, but the level of significance decreases as a sub-sample of new EU countries was considered.

HF5001-6182020209 energyresearch and development expenditures02 engineering and technologyProduction functionEu countries0502 economics and business0202 electrical engineering electronic engineering information engineeringEconometricsEconomicsmedia_common.cataloged_instanceBusiness050207 economicsEuropean unionHB71-74media_commonPublic economicsMember statesStock and flow05 social sciencesGrowth modeleconomic growthEconomics as a sciencepanel data analysisEmpirical relationshipPanel dataEconomics and Business
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