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This paper provides a comprehensive overview of the European takeover market. The authors characterize the main features of the domestic and cross-border corporate takeovers involving European companies in the period 1993-2001. They also provide detailed and comparable information on the size and dynamics of takeover activity in 28 Continental European countries, the UK and Ireland.

This paper studies institutional investor allocations in socially responsible private equity. The data show that socially responsible investment (SRI) is more common among institutional investors with a greater international investment focus, and among institutions that place greater importance on the International Financial Reporting Standards.

This paper introduces a new dataset from 100 Dutch institutional investors domestic and international asset private equity allocations. The data indicate that the comparative dearth of regulations of private equity funds impedes institutional investor participation in private equity funds, particularly in relation to the lack of transparency.

Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment – FDI, portfolio equity securities, debt securities as well as loans – for a broad set of 77 countries, the authors show that such a pecking order indeed exists. The paper focuses on two key determinants of this pecking order: information frictions and the quality of host country institutions.

The authors assess the growth implications of FDI in India by subjecting industry-specific FDI and output data to Granger causality tests within a panel cointegration framework. Results reveal that the growth effects of FDI vary widely across sectors.

In this paper, the management of outgoing and incoming knowledge is modelled as part of the firm’s profit-seeking strategy. The authors use survey data from over 600 Australian firms to examine this paradox and other effects of firms’ management of knowledge flows such as the complementarity between patents and secrecy.

This study shows that the technological development of a firm can be subject to an endogenous acceleration mechanism. According to the authors, the more advanced a firm is in using a particular set of technologies, the more likely will it adopt additional, related technologies.

According to the authors, revenue sharing can be used to discourage low tax regions from competing for capital and firms with high tax regions. However, with heterogeneous regions, revenue sharing involves net transfers across regions and creates a “moral-hazard” problem - that is, regions may want to invest less in market fostering public good when the benefits are shared across nations. This paper analyzes these costs and benefits of revenue sharing.

This paper studies the optimal allocation of government spending between health, education, and infrastructure in an endogenous growth framework. The discussion highlights the key role played by the parameters that characterize the health and education technologies.

How well do alternative labor market theories explain variations in net job creation? According to search-matching theory, job creation in a firm should depend on the availability of workers (unemployment) and on the number of job openings in other firms (congestion). According to efficiency wage and bargaining theory, wages are set above the market clearing level and employment is determined by labor demand. To compare models, the authors estimate an encompassing equation for net job creation on firm-level data.