This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than...

In der folgenden Studie möchten wir ausgewählte Aspekte von intra- und intergenerationalen Umverteilungseffekten im System der bundesdeutschen Alterssicherung auf der Basis der Humankapitalheorie mit Simulationsmethoden analysieren. Falls es das Ziel der Politik ist, die Ungleichheit des...

This paper investigates how competition and firm size affect the relationship between market uncertainty and R&D investment. We use an intuitively appealing measure of firm-specific uncertainty along with panel data to show that firms invest less in current R&D as uncertainty about market...

Today, more than 70% of the world's total electricity production is supplied by power plants using conventional fossil fuels. Coal accounts for more than half of the fossil fuel combustion in electricity plants. Future mega trends give reason to believe that electricity demand will double until...

In der Diskussion um Innovationen für eine nachhaltige Entwicklung werden häufig radikale Innovationen gefordert, damit die Transformation der Gesellschaft hin zu einem als nachhaltig empfundenen System gelingen kann. Begründet wird dies mit einer höheren Umwelteffizienz dieser Innovationen....

This paper investigates the development of basic cognitive, motor and noncognitive abilities from infancy to adolescence. We analyse the predictive power of these abilities, initial risk conditions and home resources for children's achievement. Our data are taken from the Mannheim Study of...

This paper investigates the impact of in-house R&D and innovation management practices on innovation success in small and medium-sized firms (SMEs). While there is little doubt about the significance of technology competence for generating successful innovations, inhouse R&D activities may be a...

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...

The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.