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This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning...
Persistent link: https://www.econbiz.de/10014028542
heterogeneous treatments, distinguishing and simultaneously analyzing the effect these treatments have on innovation input and … received, EU grants have higher effects. In terms of output, holding innovation expenditures constant, funding from both …
Persistent link: https://www.econbiz.de/10013110783
these predictions based on a unique dataset and survey for the German manufacturing sector (the Mannheim Innovation Panel …
Persistent link: https://www.econbiz.de/10013092745
Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments.Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....
Persistent link: https://www.econbiz.de/10013095201
, and finally, to changes in the structures and performance of industries. Discussed are: (1) innovation opportunity sources … drive private agents to commit themselves to innovation. This interpretation of the innovation process helps to demonstrate … why sectors vary in their innovation modes and rates and why firms within each industry differ in their innovation …
Persistent link: https://www.econbiz.de/10013095494
Persistent link: https://www.econbiz.de/10013095547
as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation …
Persistent link: https://www.econbiz.de/10013068231
Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies' profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on...
Persistent link: https://www.econbiz.de/10014223484
This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity …
Persistent link: https://www.econbiz.de/10013428336
This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning...
Persistent link: https://www.econbiz.de/10013428380