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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
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
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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 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
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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
This paper investigates the impact of in-house R&D and innovation management practices on innovation success in small … innovation management tools in order to achieve innovation success. We analyse whether such a strategy can pay off. Based on data … from the German CIS we find that R&D activities are a main driver for innovation success if combined with external R …
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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Biomedical Academic Entrepreneurship Through the SBIR Program
Toole, Andrew A.; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
This paper considers the U.S. Small Business Innovation Research (SBIR) program as a policy fostering academic …
Persistent link: https://www.econbiz.de/10005059052
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Die Wirkungsanalyse staatlicher Förderprogramme durch den Einsatz von Matching- und Selektionsmodellen am Beispiel der Fertigungstechnik
Fier, Andreas; Heger, Diana; Hussinger, Katrin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
Mit dem Ziel die technologische Wettbewerbsfähigkeit zu steigern, investieren die Staaten der OECD jährlich beträchtliche Summen in die Förderung von Forschungs- und Entwicklungsaktivitäten (FuE). Angesichts knapper öffentlicher Budgets ist der Effektivität und Effizienz dieser Förderung...
Persistent link: https://www.econbiz.de/10005097811
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R&D and Subsidies at the Firm Level: An Application of Parametric and Semi-Parametric Two-Step Selection Models
Hussinger, Katrin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
This paper analyzes the effects of public R&D subsidies on R&D expenditure in the German manufacturing sector. The focus is on the question whether public R&D funding stimulates or crowds out private investment. Cross sectional data at the firm level is used. By apllying parametric and...
Persistent link: https://www.econbiz.de/10005097924
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Evaluating the Impacts of Subsidies on Innovation Activities in Germany
Hujer, Reinhard; Radić, Dubravko - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
market mechanism. As a response, public instruments have been implemented to stimulate private innovation activities. The … Establishment Panel and apply various microeconometric methods to estimate the effect of public measures on innovation activities of …
Persistent link: https://www.econbiz.de/10005097977
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R&D and Firm Performance in a Transition Economy
Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006
We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on firm value proxied by ratings in Western Germany, but a...
Persistent link: https://www.econbiz.de/10005098291