unobserved intangible capital. Using EUKLEED, a comprehensive firm level data base for Germany, this theoretical preposition is … answered. -- Intangible capital ; rate of return ; firm-level profitability …

leakage of knowledge in an industry will negatively affect profitability. This paper presents the results of an empirical … study on the effects of outgoing and incoming spillovers on firms’ profitability. It turns out that the expected asymmetry …