Publications
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Global fixed capital investment by multinational firms KU Leuven
We develop and test a model of the simultaneous determination of global gross fixed capital investments by multinational firms. We integrate a model of multi-product firms choosing optimal manufacturing locations with a model of dynamic investment optimization. Firms adjust capital stocks in each location in accordance with the expected marginal profitability of capital. Analysis of 1504 fixed capital investment decisions by Japanese ...
Business groups, foreign direct investment, and capital goods trade: the import behavior of Japanese affiliates KU Leuven
We examine the impact of buyer-supplier relationships within business groups on capital goods trade by taking into account potential simultaneous effects of business group ties on foreign direct investment. We posit that 1) foreign affiliates of business group firms have a greater propensity to import capital goods from the home country, increasing home country exports; 2) if the establishment of overseas affiliates by business group firms ...
How does disruptive innovation influence the funding decisions of different venture capital investors? An empirical analysis on the role of startups’ communication Hasselt University University of Antwerp
Entrepreneurs present their ideas in a favorable light through compelling communications that may shape the investors' impressions about the value of the startup's technology and its potential to disrupt. Assessing such communications, venture capital (VC) investors get an impression of the startup's technology and shape their willingness to commit resources to it. Since diverse kinds of VC investors pursue alternative investment objectives, ...
On the role of public policies and wage formation for private investment in R&D: a long-run panel analysis Ghent University
This paper studies the drivers of business funded and performed R&D in a panel of 14 OECD countries since 1981. More specifically, we investigate the effects of public R&D related policies and wage formation. Following Pesaran (Econometrica, 2006) and Kapetanios et al. (Journal of Econometrics, 2011), our empirical strategy allows for cross-sectionally correlated error terms due to the presence of unobserved common factors, which are ...
Credit Risk Management: basic concepts: financial risk components, rating analysis, models, economic and regulatory capital KU Leuven
© Bart Baesens and Tony Van Gestel 2008. All rights reserved. This book is the first book of a series of three that provides an overview of all aspects, steps, and issues that should be considered when undertaking credit risk management, including the Basel II Capital Accord, which all major banks must comply with in 2008. The introduction of the recently suggested Basel II Capital Accord has raised many issues and concerns about how to ...
Capital Structure of Social Purpose Companies – A Panel Data Analysis Vrije Universiteit Brussel
Foreign direct investment and human development: The law and economics of international investment agreements KU Leuven
This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment (FDI) and considers how this affects the ability of capital-importing countries to pursue their development goals. The hope of countries signing such treaties is that foreign capital will accelerate transfers of technologies, create employment, and benefit the local economy through various types of ...
New Challenges for Structural Funds: The New Territorial Capital Approach in the Perspective of the Evolution of the EU Regional Policy Vrije Universiteit Brussel
The EU has characterised regional policies in Europe since 1980s through the 'Cohesion Policy' (CP) and is still providing lagging regions with significant amount of funds. Furthermore, these policies have pushed Member States towards institutional decentralisation to better tailor policy intervention across regions. The current crisis has determined strong and highly heterogeneous impacts across EU regions pushing to reconsider main development ...
Estimated research and development investment needed to bring a new medicine to market, 2009-2018 KU Leuven
IMPORTANCE: The mean cost of developing a new drug has been the subject of debate, with recent estimates ranging from $314 million to $2.8 billion. OBJECTIVE: To estimate the research and development investment required to bring a new therapeutic agent to market, using publicly available data. DESIGN AND SETTING: Data were analyzed on new therapeutic agents approved by the US Food and Drug Administration (FDA) between 2009 and 2018 to estimate ...