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Mergers & acquisitions (M&A) are most popular external growth strategies. While the number of M&A has been increasing during the past decades, on average, only the shareholders of target firms gain value during the acquisitions process, while acquirers do not receive abnormal positive returns....
Persistent link: https://www.econbiz.de/10009405099
Venture capital is assumed to play an important role for the commercialization of innovative ideas and the development of high-technology industries in a region. This paper deals with the regional distribution of venture capital and its explanation. Venture-backed firms are mostly located in...
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Many business, academic, and scientific groups have recommended that the Congress substantially increase R&D spending in the near future. President Bush’s American Competitiveness Initiative calls for a doubling of spending over the next decade in selected agencies that deal with the physical...
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Wachstum und sozialen Wohlstand in den zunehmend wissensgetriebenen Ökonomien der OECD-Welt. Die beiden Fälle Biotechnologie … Aussagen zu den Möglichkeiten und Grenzen von strukturorientierter Innovationspolitik zu treffen. Biotechnologie und … compare two prominent cases in current innovation policy: biotechnology (specifically, genetic engineering) and the electric …
Persistent link: https://www.econbiz.de/10009520254
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Recent innovation literature has documented the benefits of cross-pollination of ideas across a wide set of industries and technology fields in an economy. Industrial and trade policies, by contrast, tend to favor economic specialization through the promotion of selected sectors. In this paper...
Persistent link: https://www.econbiz.de/10012150167
This paper investigates a unique policy designed to maintain employment during the privatization of East German firms after the fall of the Iron Curtain. The policy required new owners of the firms to commit to employment targets, with penalties for non-compliance. Using a dynamic model, we...
Persistent link: https://www.econbiz.de/10014384451