This paper estimates the effect of heterogeneous university funding stemming from the German Excellence Initiative on a regional firm’s probability to innovate by using a multi-valued two-way fixed effects difference-in-differences model. The estimations show that funding an additional...

Public procurement accounts for 15 to 20 percent of global GDP and is considered an effective innovation policy. However, the detrimental effects of non-innovative public procurement - public procurement tenders awarded solely based on their price - on firm innovations have been largely...

We study the implications of services trade for firm innovation. Using a quasi-experimental shift-share design, we find that access to foreign knowledge-related services improves the innovativeness of domestic firms and complements their indigenously sourced R&D. To confront this evidence, we...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

Previous research has expressed concerns about firms engaging less in basic research. We contribute to this debate by studying trends in the scientific publishing activities of firms located in Germany. Our results do not confirm a declining trend in raw numbers with numbers indicating that...

Firms use a variety of practices to disclose the knowledge generated by their R&D activities, including, but not limited to, publishing findings in scientific journals, patenting new technologies, and contributing to developing standards. While the individual effects of engaging in the listed...

During the last years more and more discussions came up about the contribution of technology-oriented and technology-intensive industries for the economic development and employment. This paper examines the foundation dynamic and the regional clustering of various technology-oriented sectors in...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...