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Monitoring by institutional investors can act as an important mechanism to promote firm innovation. By investigating Chinese listed firms' patenting between 2002 and 2011, we find that the presence of institutional investors enhances firm innovation. Consistent with the monitoring view, we...
Persistent link: https://www.econbiz.de/10011592293
This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or noncooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...
Persistent link: https://www.econbiz.de/10011301338
We explore the role of social capital in the spread of the recent Covid-19 pan­demic in independent analyses for Austria, Germany, Italy, the Netherlands, Swe­den, Switzerland and the UK. We exploit within-country variation in social capital and Covid-19 cases to show that...
Persistent link: https://www.econbiz.de/10012222254
We study the cyclicality of public R&D in 28 OECD countries (1995-2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and followers...
Persistent link: https://www.econbiz.de/10012405658
the crisis' effects at a very early stage and entail a leading indication on later movements in firm credit ratings. …
Persistent link: https://www.econbiz.de/10012605705
firm digitalisation can be associated with changes in mobility during the Covid-19 crisis in Germany, both when strong … experienced a stronger reduction in mobility during the first two years of the pandemic. However, mobility almost came back to pre-crisis …
Persistent link: https://www.econbiz.de/10014309896
future, its introduction would risk pushing Europe back into acute crisis. But the indefinite postponement of reform would …
Persistent link: https://www.econbiz.de/10010397048
The German experience of the crisis was very different compared to those of most other countries in Europe. Germany was … German labour market was very resilient during the crisis due to earlier labour market reforms and policy instruments … enacted. This chapter will present the German experience of the financial crisis. We start by presenting the macroeconomic …
Persistent link: https://www.econbiz.de/10011286340
the use of ICT. Are these firms also more resilient in times of crisis? We study this question by exploiting a novel and … during the crisis in 2008 and 2009, ICT-intensive firms were hit less hard with respect to their productivity. This holds in …
Persistent link: https://www.econbiz.de/10011702776
motives: On the one hand, public R&D spending can be seen as a means to fight the crisis, and governments may decide to … increase their R&D budgets. On the other hand, a crisis reduces public income and urges governments to cut spending, which may …
Persistent link: https://www.econbiz.de/10011790666