We analyse the impact of multinationality on shareholder value in the case of German firms for the time span from 1990 to 2006. Based on a sample of 13,130 firm-year observations, we find that multinational companies perform worse in terms of shareholder value than domestic companies. This...

"In this paper, stochastic production frontier models are estimated with IAB establishment data from waves 2002 and 2003 to analyze productivity and inefficiency. The data suffer from nonresponse in the most important variables (output, capital and labor) leading to the loss of 25 % of the...

"This paper illustrates the effects of item-nonresponse in surveys on the results of multivariate statistical analysis when estimation of productivity is the task. To multiply impute the missing data a data augmentation algorithm based on a normal/Wishart model is applied. Data of the German IAB...