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The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylized fact, most of them focusing on a fundamental agency problem between shareholders and managers. The present paper shows...
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Functioning markets for technology are an important determinant for the type, scope and distribution of innovation … activities in an economy. However, markets for technology are often underdeveloped or inefficient. Existing theory attributes … structural forces that shape the demand side of markets for technology. In this study, we reason that demand depends on the …
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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. One reason for these contradictory evaluations of technology …-intensive industries can be attributed to different conceptual definitions of technology which are briefly discussed. The foundation and …
Persistent link: https://www.econbiz.de/10011620522
During the last years more and more discussions came up about the contribution of technology-oriented and technology … various technology-oriented sectors in West-Germany from 1983 until 1993 on the basis of a firm specific data set from the … various technology-intensive industries show high growth rates during the early eighties and after reunification in 1989. On …
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consistent with the existence of localization and urbanization effects. The emergence of high technology firms seems to be …
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suggest that developing countries grow faster when they are globally competitive in low-technology manufacturing and natural …
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