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Persistent link: https://www.econbiz.de/10001763978
We model how investors allocate between asset managers, managers choose their portfolios of multiple securities, fees are set, and security prices are determined. The optimal passive portfolio is linked to the “expected market portfolio,” while the optimal active portfolio has elements of...
Persistent link: https://www.econbiz.de/10012851298
Do academic scientists bring valuable human capital to the companies they found or join? If so, what are the particular skills that compose their human capital and how are these skills related to firm performance? This paper examines these questions using a particular group of academic...
Persistent link: https://www.econbiz.de/10003435435
Persistent link: https://www.econbiz.de/10003630863
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constraints. While scholars have already argued that patents might have a signalling value reducing information asymmetries … used as collateral. We also find that the collateral value of patents is higher than their signalling value, and a back …
Persistent link: https://www.econbiz.de/10013346735
The theoretical discussion concerning the question whether the incumbent or the (potential) entrant invests more into R&D has attracted considerable interest. This paper reports the results of an empirical study on this question using data of about 3500 German firms over the years 1992 to 1995....
Persistent link: https://www.econbiz.de/10013428313
The theoretical discussion concerning the question whether the incumbent or the (potential) entrant invests more into R&D has attracted considerable interest. This paper reports the results of an empirical study on this question using data of about 3500 German firms over the years 1992 to 1995....
Persistent link: https://www.econbiz.de/10011444512
The increasing commercialization of university discoveries has initiated a controversy on the impacts for future scientific research. It has been argued that an increasing orientation towards commercialization may have a negative impact on more fundamental research efforts in science. Several...
Persistent link: https://www.econbiz.de/10003479951
heterogeneity of the use of policy instruments. Applying a nonparametric matching method to identify the treatment effect, we find … policies. Finally, these two matching results can be combined in order to test for misallocation of public funds. Our analysis …-parametrischen Matching-Schätzers zeigt sich, dass subventionierte Unternehmen mehr in FuE investieren als in der kontrafaktischen Situation …
Persistent link: https://www.econbiz.de/10008665042