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Reportedly, firms often find it impossible to finance large and long-term projects despite positive net present values. Should governments step in and can their assistance be effective? This paper studies the case of public export credit guarantees in Germany. Covering the default risk of...
Persistent link: https://www.econbiz.de/10010877647
In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...
Persistent link: https://www.econbiz.de/10010607007
Concentrated ownership of large listed companies is widespread throughout the world, and Germany is typical in this respect. This paper proposes a method of distinguishing empirically between the beneficial and harmful effects of ownership concentration, and applies it to German data. The...
Persistent link: https://www.econbiz.de/10005406388
Why do for-profit firms take voluntary steps to improve the environment? Brand appeal to green consumers or investors, the ability to influence or avoid regulation, or the experience gained for future regulation, have all been suggested as possible reasons. The empirical evidence is decidedly...
Persistent link: https://www.econbiz.de/10009021238
The ability of companies to turn an environmental constraint into a source of strategic opportunities is a controversial topic in published research. The article, which is based on a comparative study of the CO2 emission reduction strategies implemented by the cement and chemical industries,...
Persistent link: https://www.econbiz.de/10010877636
that the connection between overconfidence and innovation is more complex than the previous literature suggests. In … innovative activity. While overoptimism leads to an innovation enhancing effect, judgmental overconfidence inhibits innovation …. Our results indicate that future research is well advised to take into account that the relationship between innovation …
Persistent link: https://www.econbiz.de/10010877694
We study innovation contests with asymmetric information and identical contestants, where contestants’ efforts and … highest quality and receives the revenue generated by the innovation. We characterize the equilibrium behavior, outcomes and …
Persistent link: https://www.econbiz.de/10010877748
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …
Persistent link: https://www.econbiz.de/10010877893
destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP …
Persistent link: https://www.econbiz.de/10010888453
Substantial elements of innovation have been observable during recent years in rig supply, in particular regarding …
Persistent link: https://www.econbiz.de/10010948889