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...

New firm set ups, especially in High Tech industries, can give important impulses for the technological development and the catch up process in the Neuen Bundes1aender. The paper at hand gives an overview about the formation behaviour considering the preconditions of the former German Democratic...

This study investigates the development of income-decreasing discretionary expenses surrounding CEO turnovers at banks. We expect incoming CEOs to take an earnings bath during the initial stage of their tenure. For a sample of German banks over the period 1993-2012, we document that (1) incoming...

Knowledge-based capital is a key factor for productivity growth. Over the past 15 years, it has been increasingly recognised that knowledge-based capital comprises much more than technological knowledge and that these other components are essential for understanding productivity developments and...

Hidden Champions (HCs) are firms unknown to the wider public, but global leaders in the niche markets they serve. This paper looks at distinctive features of these firms, focusing on their dynamic capabilities. Employing a unique data base on German firms, we identify a representative sample of...

We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others’ actions. The concept differs from both, rule understanding and rationality. We then turn to experimental...