Working Paper
Learning to Export and Learning by Exporting
In this study, we investigate the relationship between exporting and firm performance using a longer panel dataset of Ethiopian manufacturing firms for the period 1996−2009. We test two hypotheses regarding exporting: selection into exporting versus...
Working Paper
The Corporate Debt Market
Traditionally, firms in India have shown a low preference towards debt financing, despite its advantages. Using panel data from 450 firms during 1992-93 and 2003-04, we attempt to identify factors which could explain the pattern of financing of...
Working Paper
The Pattern and Valuation Effects of Corporate Diversification
We document that firms in eight East Asian countries and Japan diversify into more segments and engage into more related businesses―as measured by the degree of vertical relatedness and complementarity―than firms in the USA. Using data for the 1990-6...