This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about the level of R&D spending co...

This paper develops an empirical approach using econometric techniques for panel data which aims to contribute to the reduction/elimination of the deviation between the book and market value of firms. Based on 20 of the firms with the largest number of patents granted between 1996 and 2006, the results show that: (i) the increase in the return on equity following from an increase in the share o...

This paper examines the impact of the Dutch R&D tax incentives program, known as WBSO, on the wages of R&D workers. In our model these wages are partly determined by the government’s WBSO tax disbursements. We construct detailed firmand time specific R&D tax credit rates as a function of the R&D tax incentives scheme to capture the wage effects of the government R&D support. An instrumentalvari...

Using German regional data for 1998, 2002 and 2006, this study reexamines the Oswald hypothesis, the conjecture that high levels of home ownership are linked to inferior outcomes in regional labor markets. Applying a set of controls for regional unemployment rates, three different econometric models are specified and estimated: a cross-sectional model, a pooled data model, and a model taking in...

This paper investigates the relationship between economic development and female labor force participation in the Middle East and North Africa (MENA). Using a panel data set of 20 countries in the region for the period of 1990-2012, I develop an econometric model that tests the U-shape hypothesis. This study builds upon previous literature examining the U-shape hypothesis in time series studies...