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Does codetermination affect the composition of variable versus fixed parts of executive compensation?

Dyballa, Katharina; Kraft, Kornelius - 2015

-Taylor approach to estimate the effect of codetermination on the compensation design. Finally, codetermination has a significantly …

Persistent link: https://www.econbiz.de/10011308423

R&D and firm performance in a transition economy

Czarnitzki, Dirk (contributor); Kraft, Kornelius (contributor) - 2006

of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on … firm value proxied by ratings in Western Germany, but a negative impact in Eastern Germany. We also consider future … financial distress, and find that R&D in Eastern German firms leads to higher default risk, in contrast to Western Germany …

Persistent link: https://www.econbiz.de/10003328090

The effect of entry on R&D investment of leaders : theory and mpirical evidence

Czarnitzki, Dirk (contributor); Etro, Federico (contributor) - 2008

We develop a simple model of competition for the market that shows that, contrary to the Arrow view, endogenous entry threat in a market induces the average firm to invest less in R&D and the incumbent leader to invest more. We test these predictions with a Tobit model based on a unique dataset...

Persistent link: https://www.econbiz.de/10003761020

Barriers to entry and profitability

Heger, Diana (contributor); Kraft, Kornelius (contributor) - 2008

Barriers to entry are regarded as major impediments to the working of markets. Entry must not necessarily actually take place - the perceived threat of entry may encourage incumbent firms to behave as if they are in a competitive market, even if they are not. We present empirical evidence on...

Persistent link: https://www.econbiz.de/10003751792

An empirical test of the asymmetric models on innovative activity : who invests more into R&D - the incumbent or the challenger?

Czarnitzki, Dirk; Kraft, Kornelius - 2000

The theoretical discussion concerning the question whether the incumbent or the (potential) entrant invests more into R&D has attracted considerable interest. This paper reports the results of an empirical study on this question using data of about 3500 German firms over the years 1992 to 1995....

Persistent link: https://www.econbiz.de/10011444512