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Industrial research versus development investment: the implications of financial constraints

Czarnitzki, Dirk; Hottenrott, Hanna; Thorwarth, Susanne - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009

Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....

Persistent link: https://www.econbiz.de/10008533548

Capital Control, Debt Financing and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004

innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …

Persistent link: https://www.econbiz.de/10005097531

Spillovers of Innovation Activities and Their Profitability

Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007

Knowledge spillovers to competitors are regarded as an important aspect of the innovation process. While a company …

Persistent link: https://www.econbiz.de/10005097637

On the Profitability of Innovative Assets

Kraft, Kornelius; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004

Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on...

Persistent link: https://www.econbiz.de/10005097921

License Expenditures of Incumbents and Potential Entrants: An Empirical Analysis of Firm Behavior

Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005

variables the motives for innovation expenditures are also taken into account. We differentiate between firms which intend to …

Persistent link: https://www.econbiz.de/10005098126

Managerial ownership, entrenchment and innovation

Beyer, Mila; Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation. …

Persistent link: https://www.econbiz.de/10009003577

Research and development: financial constraints and the role of public funding for small and medium-sized enterprises

Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2002

This paper presents microeconometric evidence on financing con-traints for research and development activities in German small and medium?sized firms (SME). Special attention is paid to the role of public R&D subsidies. For this purpose SME in Western and East-ern Germany are compared because...

Persistent link: https://www.econbiz.de/10005098138

Evaluation of public R&D policies: A cross-country comparison

Czarnitzki, Dirk; Lopes Bento, Cindy - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This study focuses on the effect of public funding on internal R&D investment and on total innovation intensity on a … whether or not governments could further foster R&D activities by extending innovation policies to currently not supported …

Persistent link: https://www.econbiz.de/10008694110

Biomedical Academic Entrepreneurship Through the SBIR Program

Toole, Andrew A.; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005

This paper considers the U.S. Small Business Innovation Research (SBIR) program as a policy fostering academic …

Persistent link: https://www.econbiz.de/10005059052

Do R&D subsidies matter? Evidence for the German service sector

Czarnitzki, Dirk; Fier, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

innovative activities of German service firms. We investigate whether firms that receive public subsidies for innovation projects … innovative activities. The more grants a firm has received in the past, the more it invests in current innovation projects …

Persistent link: https://www.econbiz.de/10005097741