Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...

Many modern firms compete globally. However, research into whether foreignness is an asset or a liability in competition with domestic firms is inconclusive. We argue that foreign MNC subsidiaries are not per se advantaged or disadvantaged. We suggest that the distinction originates from the...

Functioning markets for technology are an important determinant for the type, scope and distribution of innovation activities in an economy. However, markets for technology are often underdeveloped or inefficient. Existing theory attributes such imperfections to the supply side or differences in...

We investigate whether appointing a middle management level affects startups' innovation performance. Additional hierarchical levels are often suspected to restrict innovative activities. However, founders' capacities for information processing and resource allocation are usually strongly...

How valuable is work experience with advocacy groups, e.g. Greenpeace, for new hires of innovative firms? We integrate strategic human capital with stakeholder theory and suggest that this experience creates scarce human capital (knowledge, skills, abilities) facilitating innovations acceptable...

In this paper we develop optimized localization strategies for multinational firms to overcome their liability of foreignness by adding a regional dimension. We explore conceptually whether economic stress in a region has a mitigating or reinforcing effect. We test this analytical framework...

In this paper we develop optimized localization strategies for multinational firms to over-come their liability of foreignness by adding a regional dimension. We explore concep-tually whether economic stress in a region has a mitigating or reinforcing effect. We test his analytical framework...

Investments in R&D have been identified as a cornerstone for growth and competitive advantages of firms and whole economies. We investigate the role that a firm's main bank plays for its investment in R&D. Existing literature suggests that the inherent information asymmetries of R&D projects...

Der Erfolg von Innovationsaktivitäten hängt in zunehmendem Maße davon ab, ob es Unternehmen gelingt, interne Innovationsaktivitäten mit externem Know-how zu verknüpfen. Chesbrough (2003) prägt dafür das Konzept „Open Innovation.“ Der zentrale konzeptionelle Beitrag dieser Arbeit...

When an MNE closes its doors, workers may find themselves in demand or struggling, depending on the nature of their employment and the characteristics of the foreign affiliate itself. The authors recommend a targeted policy approach that focuses on transition assistance for the most vulnerable...