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Patents as quality signals? The implications for financing constraints on R&D

Czarnitzki, Dirk; Hall, Bronwyn H.; Hottenrott, Hanna - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...

Persistent link: https://www.econbiz.de/10010957591

Collaborative R&D as a strategy to attenuate financing constraints

Czarnitzki, Dirk; Hottenrott, Hanna - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D...

Persistent link: https://www.econbiz.de/10010957620

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

Innovation, competition and incentives for R&D

Wörter, Martin; Rammer, Christian; Arvanitis, Spyros - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper analyses the relationship between past innovation output, competition, and future innovation input in a … results for both countries. Innovation output in t-1 as measured by the sales share of innovative products is positively …

Persistent link: https://www.econbiz.de/10008568594

Innovative capability and financing constraints for innovation: More money, more innovation?

Hottenrott, Hanna; Peters, Bettina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of … alternatives of use. If they selected additional innovation projects, they must have had some unexploited investment opportunities … that were not profitable using more costly external finance. We attribute constraints for innovation not only to lacking …

Persistent link: https://www.econbiz.de/10009147345

An information economics perspective on main bank relationships and firm R&D

Hoewer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...

Persistent link: https://www.econbiz.de/10009323616

The impact of brand use on innovation performance: Empirical results for Germany

Crass, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

The market launch of product innovations is the most visible output of a firm's investment in innovation activities. To … number of different ways, and optimize their innovation process. The success of a firm's innovation strategy has two … product innovation. Second, the ability to turn the market introduction of a product innovation into commercial success. While …

Persistent link: https://www.econbiz.de/10011122570

Do trademarks diminish the substitutability of products in innovative knowledge-intensive services?

Crass, Dirk; Schwiebacher, Franz - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

Trademarks are often supposed to reduce substitutability and imitability of product innovations. Using German CIS data for 2010, we provide empirical evidence that trademarking firms assess easy product substitutability as less characteristic for their competitive environment. This is...

Persistent link: https://www.econbiz.de/10010957593

Innovative capability and financing constraints for innovation: More money, more innovation?

Hottenrott, Hanna; Peters, Bettina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of …. If they selected additional innovation projects, they must have had some unexploited investment opportunities that were … not profitable using more costly external finance. We attribute constraints for innovation not only to lacking financing …

Persistent link: https://www.econbiz.de/10010957615

Quantity or quality? Collaboration strategies in research and development and incentives to patent

Hottenrott, Hanna; Lopes-Bento, Cindy - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

This study shows for a large sample of R&D-active manufacturing firms that collaborative R&D has a positive effect on firms' patenting in terms of both quantity and quality. When distinguishing between alliances that aim at joint creation of new knowledge and alliances that aim at exchange of...

Persistent link: https://www.econbiz.de/10010957658