Showing 1 - 10 of 9,137
The paper investigates young firms' choice of capital source. Our theoretical model hypothesizes a positive (negative) relation between riskiness of the project (price of venture capital) and receiving informed equity. We test our predictions by employing a unique data set collected by KfW...
Persistent link: https://www.econbiz.de/10010264956
A dynamic process underlying firms' discrete financial choices has previously been found, but without controlling for unobserved heterogeneity, this dependence can either be of a true nature or an effect of firm-specific characteristics that we cannot observe. This study extends previous...
Persistent link: https://www.econbiz.de/10010321743
This paper provides evidence that capital market imperfections hold back innovation and growth, and that public policy …
Persistent link: https://www.econbiz.de/10010285181
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,...
Persistent link: https://www.econbiz.de/10011506553
hat sich Deutschland im Bereich Finanzierung gegenüber dem Vorjahr verschlechtert und verharrt mit Rang 15 abgeschlagen in …. Besonders bei der Finanzierung von Unternehmensgründungen hinkt Deutschland hinterher. Schärfere Finanzierungskonditionen für … etablierte Unternehmen und die Erhöhung der Risikoprämien auf breiter Front lassen keinen anderen Schluss zu: Die Finanzierung …
Persistent link: https://www.econbiz.de/10011602084
Die Einführung von Mitarbeiterkapitalbeteiligung in einem Unternehmen lässt in der Regel auch die Machtverhältnisse und … beschrieben, in welchem Interaktionsverhältnis die Einführung von Mitarbeiterkapitalbeteiligung und die Machtverhältnisse und … sieben Thesen über das Verhältnis zwischen Mitarbeiterkapitalbeteiligung und Macht münden. …
Persistent link: https://www.econbiz.de/10010292568
Innovation activities in high technology industries provide considerable challenges for technology and innovation … innovation-related firm characteristics. The paper confirms a substitutive relationship between acquisitions and own research …
Persistent link: https://www.econbiz.de/10010263743
, which only holds in the long-term but not in the short-term. Further, we find support for a moderating effect of innovation … in the long-term, innovation mediates the ESP-CFP relationship suggesting that innovation should be considered as a long …
Persistent link: https://www.econbiz.de/10010325873
This paper addresses the key determinants of merger failure, in particular the role of innovation (post … introduce a model of process innovation where merged firms exibit intra-merger spillover of knowledge under different market … that post-merger innovation performance, in particular with large spillover, increases the probability of survival, while …
Persistent link: https://www.econbiz.de/10010263728
The contribution of financial and non-financial risks to the overall level of risk in the system depends on the current state of the EU banking system (which, in the aggregate and compared with banking sectors in other major advanced economies, cannot be characterised as strong) and how...
Persistent link: https://www.econbiz.de/10014327923