The impact of innovation on firm performance has been a matter of significant interest to economists and policy makers for decades. Although innovation is generally regarded as a means of improving the competitiveness of firms and their performance on domestic and foreign markets, this...

Anglo-American stock markets are much larger than their continental counterparts. Does investor protection and governance explain these differences? Using UK data, we examine four different forms of intervention which are suppose to promote good governance: takeovers, independent directors,...

The paper aims at a conceptual contribution to the normative economic analysis of rural de-velopment (RD) policies. RD is regarded as a problem of interaction between individuals; (lacking) structural change or the (missing) integration of externalities are therefore recon-structed as...

Dieses Interview wurde für eine Fachzeitschrift geführt, die sich primär an Lehrer wendet, welche in der Schule die Fächer „Politik“ oder „Wirtschaft“ unterrichten. Die Fragen und Antworten versuchen, verständlich werden zu lassen, wie wichtig es gerade für Schüler ist, die...

There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...

This study focuses on ex ante performance of domestic and foreign takeover targets in Germany, one of the most important FDI inflow destinations worldwide. Using a new database from German official statistics, unconditional comparisons as well as binary response model estimations of takeover...

This paper empirically examines the impact of temporary agency work on firm performance using panel data from German establishments. Thereby, special attention is devoted to the question, whether there are performance differences between firms using temporary agency workers (TAWs) as a buffer...