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Loan availability and investment: Can innovative companies better cope with loan denials?
Mueller, Elisabeth; Reize, Frank - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This study examines the consequences of loan denials for the investment performance of small and medium-sized German … investment than non-innovative companies. The non-randomness of loan denials is controlled for with a selection equation …
Persistent link: https://www.econbiz.de/10008494188
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Sources of value creation through private equity-backed mergers and acquisitions: The case of buy-and-build strategies
Borell, Mariela; Heger, Diana - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This article documents a new value creation function of private equity investors who carry out buy-and-build strategies. Buy-and-build strategies constitute an initial acquisition of a firm, serving as a 'platform', by a private equity investor and follow-on private equity-backed acquisitions...
Persistent link: https://www.econbiz.de/10010957702
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Do private equity owners increase risk of financial distress and bankruptcy?
Tykvová, Tereza; Borell, Mariela - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
There is some controversy on the key sources of success in the private equity model and on how this business model affects the portfolio companies. We investigate financial distress risks of European companies around the buyout event in the period between 2000 and 2008. In addition, we analyze...
Persistent link: https://www.econbiz.de/10009646600
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Rivals or partners? Evidence from Europe's international private equity deals
Schertler, Andrea; Tykvová, Tereza - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006
Cross-border private equity deals have increased substantially in recent years. This study looks at the issue of how European investors view their local counterparts in the portfolio companies? home countries. If they regard them as rivals, they will target countries that lack a private equity...
Persistent link: https://www.econbiz.de/10005097500
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Innovationsaktivitäten von kmU im verarbeitenden Gewerbe: Was zeichnet Imitatoren und originäre Innovatoren aus?
Zimmermann, Volker - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
the innovation process. Markets with high competition also force enterprises to produce imitative innovations but give …
Persistent link: https://www.econbiz.de/10005098257
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Intermediate input markets, ICT and innovation in Germany: A firm level analysis
Cerquera, Daniel; Klein, Gordon J. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This paper studies the impact of the adoption of ICT on the economic performance at the firm level, considering explicitly the interaction of adopting firms within the intermediate input market in Germany. The paper identifies and quantifies the importance of adoption externalities and knowledge...
Persistent link: https://www.econbiz.de/10010957582
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The impact on innovation off-shoring on organizational adaptability
Baier, Elisabeth; Rammer, Christian; Schuber, Torben - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
We analyze the effects of captive off-shoring of innovation activities on the firms' ability to adapt their … Community Innovation Survey to test our hypotheses. We find an inverted u-shape of innovation off-shoring on the effectiveness … of organizational adaptability, implying an optimal threshold value of innovation off-shoring. This value is 11% for …
Persistent link: https://www.econbiz.de/10010957583
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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
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How important is industry-specific managerial experience for innovative firm performance?
Balsmeier, Benjamin; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
This study examines how industry-specific managerial experience affects firms' innovation performance in the context of …
Persistent link: https://www.econbiz.de/10010957603
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Innovation, employment growth, and foreign ownership of firms: A European perspective
Dachs, Bernhard; Peters, Bettina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This paper examines how foreign-owned and domestically owned firms transform innovation into employment growth. The …, reveals important differences between the two groups: Due to general productivity increases and process innovation, foreign … innovation are larger for foreignowned firms. Together with employment-stimulating effects stemming from existing products, they …
Persistent link: https://www.econbiz.de/10010957608