A central aspect of the industrial evolution in the advanced economies is the phenomenon called servitization. In general, the term servitization or product-service transition is used to highlight the change, where the tangible offering of a manufacturing firm is augmented with intangible services. In this paper, servitization is addressed broadly as a strategic reorientation by […]

Since June 2013 the Eurogrowth Indicator, calculated by the Euroframe group, has predicted a frail recovery of the Euro Area GDP, after a decline in six consecutive quarters up to the first quarter in 2013. The indicator does not track the development of the GDP very accurately in the winter 2013/2012, indicating a decline that […]

Small Business Economics (2013), Vol. 41:1, pp. 195-214

Our panel data from over 10,000 Finnish firms during the years 2003-2010 sheds light on the effect of different business subsidies on firm productivity performance and on the relationship between firms’ lagged labor productivity and market exit. We find that not any of the subsidy types have statistically significant short-term or longer term impacts on […]

Final Report. A report prepared for the European Commission DG Communications Networks, Content & Technology. May 2013

This study evaluates the usefulness of different modifications of empirical models estimating the so-called Boone indicator for capturing changes in the intensity of competition. We use as “natural experiments” in this evaluation data from three cartel cases: i) international elevators and escalators cartel in various European countries during the years 1995-2004, ii) Finnish raw wood […]