This paper investigates how patent applications and grants held by new ventures improve their abilityto attract venture capital (VC) financing. We argue that investors are faced with considerable uncertaintyand therefore rely on patents as signals when trying to assess the prospects of potential...

In der öffentlichen Diskussion werden die Bezüge von Führungskräften mit der Semantikder Leistungsgerechtigkeit bewertet. Allerdings zeigt eine detaillierte Analysevon Prinzipal-Agent-Problemen in der modernen Wirtschaft, dass eine leistungsgerechteEntlohnung oft nicht das beste Ergebnis...

We document the nature of structural changes in employment to understand “jobless” growthin Irish Manufacturing in the aftermath of EEC/EU membership, 1972-2003. By 1972, fortyyears of protectionism and fifteen years of export promotion induced the coexistence of largeexporting plants with...

We introduce collective bargaining in a static framework where the firm and its risk-neutralemployees negotiate over wages in a non-binding contract setting. Our main result is theequivalence between the non-binding collective equilibrium wage-employment contract andthe equilibrium contract...

This paper focuses on the relationship between firms’ technological capabilities and differentforms of cooperation for innovation by combining the analysis of both micro and meso levels,i.e. the level of the firm and of the geographical region. Our findings, based on the Fourth UKCommunity...

The aim of this paper is to analyze the effects of technological opportunities on the innovation activities of firms, depending on their absorptive capacities. The importance and impacts of the ability of firms to use external knowledge sources were inquired especially for external knowledge...

Discretionary disclosure theory suggests that firms incentives to provide proprietary versus non-proprietary information differ markedly. To test this conjecture, the paper investigates the incentives of German firms to voluntarily disclose business segment reports and cash flow statements in...

One might easily gain the impression that the academic work of Professor Erich Guten-berg, whose centenary provides the occasion for this lecture, is outdated and has lost touch with contemporary economic theories of the firm. However, this impression would be wrong, as this paper demonstrates...

This paper studies organizations with autocratic decisionmaking.

While several plots of the aggregate age distribution suggest that rm age is expo-finentially distributed, we find some departures from the exponential benchmark. At thelower tail, we find that very young establishments are more numerous than expected,but they face high exit hazards. At the...