This paper is a survey of recent empirical work on financial constraints faced by firms. It is
organized as a series of stylized results which mirror what is generally understood about the …

This monograph reviews the current state of knowledge about the effects of new business
formation on regional development. These effects are diverse and include the creation and …

The resources sunk in zombie firms have risen over the last two decades, hampering
productivity growth in developed economies. In this paper, we examine the recovery and exit …

Using data from 588 Korean small and medium-sized enterprises (SMEs) for 2008–2014,
this study investigates whether R&D investment can affect the probability of a firm's survival …

In most advanced economies productivity growth has been hampered by barriers that allow
zombie firms to survive. We examine the effectiveness of institutional reforms in Portugal that …

Under cleansing, productivity-enhancing reallocation is expected to be accelerated in
recessions. In this paper we contribute to the analysis of one component of the national …

Using a data set of Norwegian firms, an examination is made of the relationship between
firms' R&D activities and their survival. A firm may exit the market through closure, or merger …

Our panel data from over 10,000 Finnish firms during the years 2003–2010 elucidates the
effect of different business subsidies on firm productivity performance and on the …

Purpose The purpose of this paper is to establish the relationship between foreign
participation in enterprises in Africa, their internationalization intensity and the associated …

This work investigates the factors that precipitate a firm's sudden high decline, which is
defined as a short-term heavy contraction in firm size, and examines firms' performance in …