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Are Credit Ratings Valuable Information?

Kraft, Kornelius; Czarnitzki, Dirk - 2004

Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be provided. The purpose of this paper is to test whether credit ratings contribute...

Persistent link: https://www.econbiz.de/10010297323

Wage rigidities in Western Germany? Microeconometric evidence from the 1990s

Puhani, Patrick A. - 2001

This paper investigates whether and in what sense the west German wage structure has been ?rigid? in the 1990s. To test the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a methodology which makes less restrictive identifying...

Persistent link: https://www.econbiz.de/10010297774

Publicly Funded R&D Collaborations and Patent Outcome in Germany

Czarnitzki, Dirk; Fier, Andreas - 2003

examines the development and the impact of publicly funded R&D consortia in Germany. The paper describes the history of R …&D funding in Germany with a focus on the development of measures encouraging collaborative R&D activities among firms and public …

Persistent link: https://www.econbiz.de/10010297272

A Test of the 'Krugman Hypothesis' for the United States, Britain, and Western Germany

Puhani, Patrick A. - 2003

large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment … in Germany increased (unlike in the U.S. and Britain, where it fell). British and German evidence is further backed up … with alternative data sets for these countries. I find evidence for the Krugman hypothesis when Germany is compared to the …

Persistent link: https://www.econbiz.de/10010297281

On the Profitability of Innovative Assets

Kraft, Kornelius; Czarnitzki, Dirk - 2004

Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on...

Persistent link: https://www.econbiz.de/10010297363

The Link Between R&D Subsidies, R&D Spending and Technological Performance

Czarnitzki, Dirk; Hussinger, Katrin - 2004

This paper analyzes the effects of public R&D funding on R&D expenditure and patenting behavior of German firms. The main focus is the direct impact of subsidies on R&D and the indirect effect on innovation output measured by patent applications. We distinguish the productivity of purely...

Persistent link: https://www.econbiz.de/10010297381

Capital Control, Debt Financing and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - 2004

The present paper first discusses theoretically the different incentives of manager- versus owner-controlled firms for investment into innovative activity. In addition, the role of debt financing is analyzed. Subsequently the results from an empirical study on the determinants of innovative...

Persistent link: https://www.econbiz.de/10010297397

License Expenditures of Incumbents and Potential Entrants: An Empirical Analysis of Firm Behavior

Czarnitzki, Dirk; Kraft, Kornelius - 2005

This paper presents the results of an empirical test concerning the auction model of Gilbert and Newbery (1982). The study uses data on German companies in order to analyze expenditures for technology licenses. Aside of standard control variables the motives for innovation expenditures are also...

Persistent link: https://www.econbiz.de/10010297441

Employment Effects of Publicly Financed Training Programs The East German Experience

Kraus, Florian; Puhani, Patrick A.; Steiner, Viktor - 1997

We analyze the effectiveness of publicly financed training and retraining programs in east Germany as measured by their …

Persistent link: https://www.econbiz.de/10010297569

Uncertainty of outcome versus reputation: empirical evidence for the First German Football Division

Czarnitzki, Dirk; Stadtmann, Georg - 1999

This paper analyses the determination of match attendance in the German premier football league by applying models derived from Peel/Thomas (1992) and Janssens/Késenne (1987). Additionally we develop an improved version, where we incorporate the supporter clubs and the weather conditions as...

Persistent link: https://www.econbiz.de/10010297644