Die Finanzmärkte reagieren in der gegenwärtigen Staatsschuldenkrise offensichtlich auf Meinungsäußerungen der marktbeherrschenden Ratingagenturen - selbst wenn diese in scheinbarem Widerspruch zur vorherigen Bewertung ökonomischer Fundamentaldaten stehen. Das führt dazu, dass private...

The current crisis is like an earthquake for the theoretical foundations of economic policies, which have guided governments and central banks for the last few decades. The efficient market hypothesis and its application to labor markets -'natural rate theory'- dominated interpretations of...

This paper highlights the role of financial development in producing innovative products and services. The Venture Capitalists (VCs) plays a crucial role for the realization of product innovation and service innovation. Especially young entrepreneurs face the problem of financial constraints if...

This study explores the relationship between energy and material efficiency innovations (EMEIs) and innovation strategies employed by manufacturing firms to develop their process innovations. Firms may mainly develop process innovations in-house, let them mainly develop by other enterprises or...