Prior research shows that technology spillovers across firms increase innovation, productivity and value. We study how finance their own growth stimulated by from technological peer firms. find greater lead to higher leverage. This is the result of increasing asset redeployability, as evidenced more collateralized borrowing transactions. Borrowing costs also decrease. Exogenous variation in dev...

During the past decade, disclosure of conflicts of interest (COIs) has been considered the key to ensure the credibility of the scientific process [1, 2]. Biases in design, analysis, and interpretation of studies may rise when authors or sponsors have entrusted interests. Therefore, COIs should be made clear to the readers to facilitate their own judgement and interpretation of their relevance ...

in this study, government budgets in the last 150 years have been examined based on leviathan state and the selection process theories. using this descriptive-historical method we evaluate the impact of financial behavior of government on development. in the first section of this paper, the concept of government nature has been defined and its influence on public finance is fully explained. mor...

Extensive evidence confirms that creating the conditions for a deep and efficient financial system can contribute robustly to sustained economic growth and lower poverty (e.g., see Beck, Levine, and Loayza 2000, Honohan 2004a, and World Bank 2001a). Moreover, in all levels of development, continued efficient and effective provision of financial services requires that financial policies and fina...