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Do External Technology Acquisitions Matter for Innovative Efficiency and Productivity?

Gantumur, Tseveen - 2014

technology affects the efficiency and productivity in innovation of technology acquiring firms. Using the stochastic frontier … innovative productivity than non-acquiring firms do. Thus, this study provides evidence on complementarity between internal and … efficiency. Moreover, we find that firm size significantly contributes to innovative efficiency and productivity of external …

Persistent link: https://www.econbiz.de/10013069484

The Impact of Public Procurement on Financial Barriers to Green Innovation : Evidence from European Community Innovation Survey

Schaefer, Dorothea; Stephan, Andreas; Fuhrmeister, Sören - 2022

The purpose of this study is to identify whether an innovative company’s likelihood of facing financial constraints is different when the company possesses a public procurement contract (PP). Theory suggests that the treatment effects of public procurement, particularly when mediated by the...

Persistent link: https://www.econbiz.de/10014030069

Corporate Debt Maturity Choice in Transition Financial Markets

Stephan, Andreas; Talavera, Oleksandr; Tsapin, Andriy - 2008

This paper investigates the determinants of liability maturity choice in transition markets. We formulate a model of firm value maximization that describes managers' choice of optimal debt structure. The theoretical predictions are tested using a unique panel of 4,300 Ukrainian firms during the...

Persistent link: https://www.econbiz.de/10014218313

What Drives the Productive Efficiency of a Firm? The Importance of Industry, Location, R&D, and Size

Badunenko, Oleg; Fritsch, Michael; Stephan, Andreas - 2008

This paper investigates the factors that explain the level and dynamics of manufacturing firm productive efficiency. In our empirical analysis, we use a unique sample of about 39,000 firms in 256 industries from the German Cost Structure Census over the years 1992-2005. We estimate the...

Persistent link: https://www.econbiz.de/10014218990

Innovation Capabilities and Financing Constraints of Family Firms

Schaefer, Dorothea - 2015

process innovations. Based on the CDM framework, estimation of the recursive system of equations shows that family businesses …

Persistent link: https://www.econbiz.de/10013009755

Credit Rating Agency Announcements and the Eurozone Sovereign Debt Crisis

Baum, Christopher F. - 2013

This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012. The employed GARCH models show that CRA downgrade...

Persistent link: https://www.econbiz.de/10013073134

The Cost Channel Effect of Monetary Transmission : How Effective Is the ECB's Low Interest Rate Policy for Increasing Inflation?

Schaefer, Dorothea - 2017

We examine whether monetary transmission during the financial and sovereign debt crisis was dominated by the cost channel or by the demand-side channel effect. We use two approaches to track down the potential pass through of changes in the monetary policy rate to those in consumer prices....

Persistent link: https://www.econbiz.de/10012959568

Legal History, Institutions and Banking System Development in Africa

Mutarindwa, Samuel - 2020

This paper links banking systems development to the colonial and legal history of African countries. Specifically, we investigate the impact of differing legal traditions on the development of existing investor and creditor protection, and on African banking systems. Based on a sample of 40...

Persistent link: https://www.econbiz.de/10012840663

The Impact of Institutions on Bank Governance and Stability : Evidence from African Countries

Mutarindwa, Samuel - 2018

This paper sheds new light on how African countries' legal systems and institutions influence the governance and stability of their banks. We find that institutional factors, in particular the legal family of origin, political stability, contract enforcement and strength of investor protection...

Persistent link: https://www.econbiz.de/10012916956

Why Do Firms Switch Their Main Bank? : Theory and Evidence from Ukraine

Stephan, Andreas; Tsapin, Andriy; Talavera, Oleksandr - 2009

We examine why firms change their main bank and how this affects loans, interest payments and firm performance after switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and riskier companies are more likely to switch their main...

Persistent link: https://www.econbiz.de/10014204471