This paper explores the question of how immigrant employees affect a firm's capacity to absorb foreign knowledge. Using matched employer-employee data from Denmark for the years 1996 to 2009, we are able to show that non-Danish employees from technologically advanced countries contribute...

This paper employs firm-level data to analyze the relative importance of firm characteristics and agglomeration externalities in explaining variation in innovation rates across firms. More specifically, we combine micro-data and census data to estimate the probability that a firm will introduce...

This paper uses panel regression techniques to assess the policy determinants of private sector innovative activity – proxied by R&D expenditure and the number of new patents – across 19 OECD countries. The relationship between innovation indicators and multifactor productivity (MFP) growth...

Investment in knowledge-based capital (KBC) – assets that lack physical embodiment, such as computerised information, innovative property and economic competencies – has been rising significantly. This has implications for innovation and productivity growth and requires new thinking on...

Investment in knowledge-based capital (KBC) – assets that have no physical embodiment, such as computerised information, innovative property and economic competencies – has been rising significantly. This has implications for innovation and productivity growth and requires new thinking on...

This paper explores the growing importance of intangible assets as a potential source of innovation and productivity gains, and the contribution of efficient resource allocation to this process. Realising the growth opportunities implied by intangible assets depends on the ability to reallocate...

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...

The literature argues that research spin-offs (RSOs)-enterprises originating from a university or research institute-appear to have higher innovative potential and capabilities than other start-ups, at least in the early stages of their development. Yet, little is known about the innovative...

To innovate, firms constitute a ‘knowledge-capital’, defined as a set of information and knowledge produced, acquired and used in the value creation process. In this paper, we focus on small and medium-sized companies (SMEs) and study their ability to develop their own knowledge-capital as...

Griechenland liegt nach wie vor wirtschaftlich am Boden. Nach massiven Senkungen seiner Lohnstückkosten hat das Land mittlerweile kein Kostenproblem mehr. Dennoch ist die griechische Wirtschaft noch nicht angesprungen. Das macht zunächst deutlich: Das Programm der Troika, sich allein auf...