This paper develops a model with multiple market locations in which the quality of intangible assets of firms, provided by management, determines the firms’ performance. Despite an ex ante symmetry of potential entrants, the equilibrium assignment of heterogeneous managerial skills to firms...

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other “research” activities, such as software. Second, argument still...

Intangible knowledge capital (IKC) – technology produced by workers but not embodied in them – can offset the "middle income trap" as China exhausts the benefits of international technology transfer. IKC is productivity-enhancing among Chinese enterprises – more so in domestically owned...

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...

Existing literature suggests that entrepreneurs with prior firm-founding experience have more skills and social connections than novice entrepreneurs. Such skills and social connections could give experienced founders some advantage in the process of raising venture capital. This paper uses a...

Academic entrepreneurship has become an increasingly important channel through which universities contribute to economic development. This paper studies academic entrepreneurs using a comprehensive venture capital database. I find that about two-thirds of the academic entrepreneurs locate their...

Starting a firm with expansive potential is an option for educated and high-skilled workers. This option serves as an insurance against unemployment caused by labor market frictions and hence increases the incentives for education. We show within a matching model that reducing the start-up costs...

This paper analyses the role of social capital on immigrants' labour market outcomes. We use the "principal component analysis" (PCA) to build an index of social networks and explore its impact on the probability of getting a job and on wage levels using the Households Income and Labour Dynamics...

We analyze how having an incumbent among candidates affects electoral turnout. We use a rich data set providing information on the electoral results of Italian municipal elections over the period 1993-2011. Endogeneity issues are handled through an instrumental variable approach using the mayor...