We present evidence on venture capitalists' (VCs) impact on turnover of executives for a sample of nearly 47,000 German high-tech start-ups between 1995 and 2004. We confirm that the presence of VCs increases the probability of a change in the initial executive team. Additionally, we take a...

It is known that small firms rely mainly on the CEO’s individual knowledge for developing innovations. Recent work suggests that this approach is inefficient since it underutilizes other employees’ knowledge. We study to which extent using CEOs, managers and non-managerial employees’ ideas...

Der vorliegende Aufsatz untersucht den Einfluss von Aufsichtsratsvernetzungen auf die Entwicklung der Vorstandsbezüge von DAX-Unternehmen. Die kombinierte Anwendung von Methoden der sozialen Netzwerkanalyse und der Panelökonometrie erleichtert die Erfassung der Struktur der...

This study analyses the competence gaps of lower-level managers in a typical manufacturing plant in Germany that had recently introduced a teamwork structure. Results indicate that the managers have difficulties with their new leadership-related tasks. Higher levels of leadership competence are...

In this study we use import penetration as a proxy for foreign competition in order to empirically analyze (1) the impact of foreign competition on managerial compensation, (2) differences in the impact between Germany and the U.S. and (3) whether the impact of import penetration is driven by...

This paper provides an overview of telecommunications regulation in the U.S. and in Europe. For each region the history of telecommunications regulations as well as the current regulatory regime is portrayed. The focus of this overview is on the question of how unbundling regulations in the...

The interplay of infrastructure supply and demand is of central interest in line with Web 2.0. As the role of customers turns from a service users’ role to an information providers’ role, the traffic on existing lines increases and, simultaneously, customers’ demand for high-quality...

Although the future socio-economic benefits of a new fibre-based (“next generation access”, NGA) telecommunications infrastructure seem to be uncontroversial, a universal NGA coverage appears to be a rather unrealistic objective without government intervention. We contend, however, that the...

Central features of today’s electronic communications markets are complementarities between the different layers of the value chain, substitutability between some applications, network effects in the provision of content and services, two-sided business models that partly involve indirect...