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Bank credit supply and firm innovation
Giebel, Marek; Kraft, Kornelius - 2018
financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we … find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to … initiate new product and process innovations and to reallocate human resources to innovation during the financial crisis. …
Persistent link: https://www.econbiz.de/10011798962
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Co-determination and innovation
Kraft, Kornelius; Stank, Jörg; Dewenter, Ralf - 2009
This paper examines the effect of the German co-determination law of 1976 (MitbestG) on the innovative activity of German firms. Co-determination applies to firms with 2000 employees or more. Data from 1971-1976 and 1981-1990 on 148 firms are used to compare the number of patents granted to...
Persistent link: https://www.econbiz.de/10010288477
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The impact of the financial crisis on investments in innovative firms
Giebel, Marek; Kraft, Kornelius - 2015
This paper investigates the impact of the financial crisis on investment decisions in innovative versus non-innovative firms. Firms are defined as being innovative if they have introduced a new product to the market. The empirical test is based on data for the years before and after the recent...
Persistent link: https://www.econbiz.de/10011339805
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Sources of spillovers for imitation and innovation
Cappellin, Riccardo; Czarnitzki, Dirk; Kraft, Kornelius - 2013
market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation. …
Persistent link: https://www.econbiz.de/10009787404
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Employee representation and innovation - disentangling the effect of legal and voluntary representation institutions in Germany
Kraft, Kornelius; Lammers, Alexander - 2019
Persistent link: https://www.econbiz.de/10011991969
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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
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Capital Control, Debt Financing and Innovative Activity
Czarnitzki, Dirk; Kraft, Kornelius - 2004
innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …
Persistent link: https://www.econbiz.de/10010297397
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License Expenditures of Incumbents and Potential Entrants: An Empirical Analysis of Firm Behavior
Czarnitzki, Dirk; Kraft, Kornelius - 2005
variables the motives for innovation expenditures are also taken into account. We differentiate between firms which intend to …
Persistent link: https://www.econbiz.de/10010297441
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Do Spillovers Stimulate Incremental or Drastic Product Innovations? Hypotheses and Evidence from German Establishment Data
Jirjahn, Uwe; Kraft, Kornelius - 2006
We estimate the determinants of various types of product innovation. Knowledge spillovers from rivals have a positive … exert no such independent influence on drastic innovation activities. The results support the hypothesis that establishments …
Persistent link: https://www.econbiz.de/10010297531
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R&D and Firm Performance in a Transition Economy
Czarnitzki, Dirk; Kraft, Kornelius - 2006
We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison 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...
Persistent link: https://www.econbiz.de/10010297541