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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
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Collaborative R&D as a strategy to attenuate financing constraints
Czarnitzki, Dirk; Hottenrott, Hanna - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012
R&D investment, access to the partner's knowledge base and the exploitation of scale and scope in R&D, but that it may …
Persistent link: https://www.econbiz.de/10010957620
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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 … differ in their nature, but also to a large extent take place sequentially. Our results show that R investment is more … their research compared to development activities. Moreover, we find that (basic) research subsidy recipients' investment is …
Persistent link: https://www.econbiz.de/10008533548
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Innovation Success of Non-R&D-Performers: Substituting Technology by Management in SMEs
Spielkamp, Alfred; Czarnitzki, Dirk; Rammer, Christian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
, high minimum investment and severe financial constraints. SMEs may thus opt for refraining from R&D and relying more on …
Persistent link: https://www.econbiz.de/10005097673
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Do direct R&D subsidies lead to the monopolization of R&D in the economy?
Czarnitzki, Dirk; Ebersberger, Bernd - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This paper explores the impact of R&D subsidies on the concentration of R&D in an economy. First, governments are often criticized of subsidizing predominantly larger firms and thus contribute to persistence of leadership in markets and higher barriers to entry, and, hence, reduced competition...
Persistent link: https://www.econbiz.de/10008756431
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Capital Control, Debt Financing and Innovative Activity
Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004
investment into innovative activity. In addition, the role of debt financing is analyzed. Subsequently the results from an …
Persistent link: https://www.econbiz.de/10005097531
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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
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Concubinage or Marriage? Informal and Formal Cooperations for Innovation
Keilbach, Max; Bönte, Werner - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004
Based on a sample of German innovating firms that contains information on formal and informal innovation cooperation between customers and suppliers, we state that firms perceive informal cooperation as being more important than formal cooperation modes. We then investigate the determinants of...
Persistent link: https://www.econbiz.de/10005097987
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Mobile network interconnection and investments
Veith, Tobias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009
functions. Testing for a common regulation-investment effect provides evidence that the negative investment externality is not …
Persistent link: https://www.econbiz.de/10008500714
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European telecommunication regulation: Effects on telecommunication providers
Veith, Tobias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This paper considers the impact of European telecom regulation on the value of affected companies. Employing a repeating ARGARCH model, I compare the effect of three types of regulation which are categorized based on the addressed subject, i.e. cross-market, country-specific and company-specific...
Persistent link: https://www.econbiz.de/10008756427