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...

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...

This paper deals with flows of technology and information among people and institutions and the role of public support given by different sponsors (the federal government, the Länder and the European Union). Recent theory stresses the importance of the interactions and linkages among acteurs...

The surge in interfirm cooperative agreements can be seen as expressing a way for firms to respond to and to organize market failure, especially in technology markets. The incentives of firms to internalize activities are to avoid the disadvantages, or capitalize on the advantages, of...

Employee resistance against innovations is a virulent phenomenon and there is a broad theoretical literature on its determinants. The empirical evidence is scarce, however, and mainly provides descriptive evidence on the incidence of the phenomenon and concentrates on the effectiveness of change...

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...

What factors underlie industry differences in research intensity and productivity growth? We develop a multi-sector endogenous growth model allowing for industry specific parameters in the production functions for output and knowledge, and in consumer preferences. We find that long run industry...