This paper analyzes the link between the diffusion of information- and communication technology (ICT) and both the skill structure and employment expectations of the different skill categories. The analysis is based on cross-sectional data for 4150 German firms conducted in mid-2000. The...

In dieser Studie werden die Anreize für Innovationsaktivitäten von Firmen mit beschränkter und unbeschränkter Haftung untersucht. Innovationen sind mit einem gewissen Risiko behaftet. Firmeneigner können ihr persönliches Risiko jedoch begrenzen, wenn das Unternehmen eine Rechstform mit...

This article contributes to the literature on macroeconomic announcements and their impact on asset prices by investigating how the 15-second Xetra DAX returns reflect the monthly announcements of the two best known business cycle forecasts for Germany, i.e. the ifo Business Climate Index and...

This paper delineates the simultaneous impact of non-anticipated information on first and second moments of the intraday price process by including appropriate variables accounting for the news flow into both the mean and the variance function. This allows us to differentiate between the...

This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...

It is well known that information arrival has an impact on prices volatility, and trading volume in financial markets (see e.g., Goodhart and O?Hara 1997). Scheduled macroeconomic announcements, such as monthly employment figures, consumer prices, or building permits, stand out from the steady...

Determining the research and development (R&D) boundaries of the firm as the choice between internal, collaborative and external technology acquisition has since long been a major challenge for firms to secure a continuous stream of innovative products or processes. While research on R&D...

We apply censored quantile regressions to representative German register data with more than 91,000 observations in order to determine crucial factors that influence the distribution of unemployment duration in West Germany during the 1980s and 1990s. We find that the effect of some regressors...

In recent times the service sector is often called the driving force of today?s economies. This paper analyses the innovative activities of German service firms. We investigate whether firms that receive public subsidies for innovation projects engage more in innovative activities than others....

Mergers and acquisitions (M&As) constitute a disruption to the working environment of the inventive labor force of the acquired company. If inventors would respond with a decline of their patent productivity or departure from the firm this can be detrimental to the innovative process within the...