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R&D investment and financing constraints of small and medium-sized firms

Czarnitzki, Dirk (contributor); Binz, Hanna L. (contributor) - 2008

This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than...

Persistent link: https://www.econbiz.de/10003728587

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

Dynamic R&D choice and the impact of the firm's financial strength

Peters, Bettina; Roberts, Mark J.; Vuong, Van Anh - 2015

This article investigates how a firm's financial strength affcts its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from its...

Persistent link: https://www.econbiz.de/10011404565

Are credit ratings valuable information?

Czarnitzki, Dirk (contributor); Kraft, Kornelius (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001898447

Measuring the impact of innovation on firm value : a new approach

Czarnitzki, Dirk (contributor); Kraft, Kornelius (contributor) - 2002

Persistent link: https://www.econbiz.de/10001735363

How do banks screen innovative firms? : Evidence from start-up panel data

Brown, Martin; Degryse, Hans; Höwer, Daniel; Penas, … - 2012

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

Persistent link: https://www.econbiz.de/10009540878

Market discipline and the use of government bonds as collateral in the EMU

Ullrich, Katrin (contributor) - 2006

accepts all European government bonds without distinction in its monetary policy auctions as collateral. This could provide …

Persistent link: https://www.econbiz.de/10003356981

Earnings losses after non-employment increase with age

Zwick, Thomas (contributor) - 2008

This paper shows that earnings losses after unemployment increase with age. First, older employees start out with relatively high earnings in comparison to employees without employment interruptions several years before the non-employment spell. This earnings advantage turns into a strong...

Persistent link: https://www.econbiz.de/10003728393

Heterogeneous labour markets in a microsimulation-AGE model : application to welfare reform in Germany

Boeters, Stefan (contributor); Feil, Michael (contributor) - 2008

Labour market reforms that are designed to stimulate labour supply at the lower end of the wage distribution can never be precisely restricted to affect only the target group. Spillovers to and feedback from other segments of the labour market are unavoidable and may counteract the direct...

Persistent link: https://www.econbiz.de/10003728424

Noncognitive skills, Internet use and educational dropout

Coneus, Katja (contributor); Gernandt, Johannes (contributor) - 2008

Using data from the German Socio-Economic Panel for the years 2000 to 2006 we analyze the determinants and labor market effects of educational dropout. In addition to classical variables like family background and occupation, we examine noncognitive skills and Internet use. Noncognitive skills...

Persistent link: https://www.econbiz.de/10003728547

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