We examine the scope and value of targeted advertising in the magazine industry. We use data on reader characteristics at individual media, in contrast to previous work that has needed to infer this information from aggregate data. Our results show a strong relationship between subscriber...

On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate...

I derive a model of profit maximization for a print media firm with upfront advertising pricing. The model is estimated using detailed quarterly data on German women's magazines observed between I/1994 and IV/2004. Main empirical results are that (i) cover price increases lead to substantial...

We estimate the effects of past self-employment experience on subsequent earnings in wage work using the population of Danish citizens between 16 and 65 years of age that we observe between 1980 and 1996. Specifically, we analyze how the effects of previous self-employment experience are...

Cultural and social borders can be stumbling blocks to internationalization (frequent errors, delays). We investigate the persistent roots of liability of foreignness and identify two major factors conceptually: a lack of host country legitimacy (demand side) and a lack of responsiveness on the...

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...

This paper uses data on the population of German magazines for the period 1973 to 2004 to show that, contrary to conventional wisdom, there is little evidence for magazine readers disliking advertising. Many magazines in fact have readers who appreciate advertising. The degree of appreciation...

This paper analyzes the persistence of firms' exporting behavior in a panel of German manufacturing firms using dynamic binary choice models. We distinguish between true and spurious state dependence in exports and apply fixed effects methods that allow us to verify the robustness of our results...

We analyze the extent to which visits to a magazine's companion website affects total circulation, subscription, kiosk sales and foreign sales using Granger causality tests on the basis of monthly data for the German magazine market spanning the period January 1998 to September 2005. We find...

We use comparable micro level panel data for 14 countries and a set of identically specified empirical models to investigate the relationship between exports and productivity. Our overall results are in line with the big picture that is by now familiar from the literature: Exporters are more...