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The contribution of international R&D to firm profitability

Peters, Bettina; Schmiele, Anja - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

The internationalisation of corporate R&D opens up the chances to participate in international knowledge sharing. This increasingly motivates firms to accelerate the pace and extent of their international R&D activities in order to enhance innovativeness and consequently competitiveness and...

Persistent link: https://www.econbiz.de/10008869230

Managerial ownership, entrenchment and innovation

Beyer, Mila; Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

Principle-agent theory suggests managers might under-invest into R&D for reasons of risk tied to project failure, such as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying higher remuneration, power and prestige. Using a sample...

Persistent link: https://www.econbiz.de/10009003577

Ownership concentration, institutional development and firm performance in Central and Eastern Europe

Balsmeier, Benjamin; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper analyzes the relationship of ownership concentration and firm performance in the context of different institutional environments in 28 Central and Eastern European transition economies. Using the BEEPS data for the period from 2002 to 2009 we find an inverted u-shaped relation of...

Persistent link: https://www.econbiz.de/10008794610

Bank owners or bank managers: who is keen on risk? Evidence from the financial crisis

Gropp, Reint; Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

, regulatory and legal variables. Regulation does not seem to mitigate risk taking by bank owners. We find no evidence that profit …

Persistent link: https://www.econbiz.de/10008518270

Blockholdings and corporate governance in the EU banking sector

Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

Persistent link: https://www.econbiz.de/10008533672

Corporate governance and current regulation in the German banking sector: an overview and assessment

Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper gives an overview over corporate governance and banking regulation in Germany. Particular attention is put …, some of the recommendations and suggestions made to improve corporate governance in Germany are not legally binding even …

Persistent link: https://www.econbiz.de/10008494187

Capital Control, Debt Financing and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004

The present paper first discusses theoretically the different incentives of manager- versus owner-controlled firms for investment into innovative activity. In addition, the role of debt financing is analyzed. Subsequently the results from an empirical study on the determinants of innovative...

Persistent link: https://www.econbiz.de/10005097531

Corporate monitoring by blockholders in Europe: empirical evidence of managerial disciplining in Belgium, France, Germany, and the UK

Dherment-Ferere, Isabelle; Köke, Jens; Renneboog, Luc - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

creditors play an active role in disciplining. Block purchases have a monitoring role in Belgium and Germany, but not in France …

Persistent link: https://www.econbiz.de/10005097669

Product market competition, corporate governance and firm performance: an empirical analysis for Germany

Januszewski, Silke I.; Köke, Jens; Winter, Joachim K. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1999

comparison with the United States. It has been argued that lack of product market competition and poor corporate governance are … econometric analysis of firm performance in Germany. Based on a unique panel data set with detailed information on almost 400 … Germany?s bank-based system of internal control, ownership concentration is harmful for productivity growth. …

Persistent link: https://www.econbiz.de/10005097717

Dynamics in ownership and firm survival: evidence from corporate Germany

Heiss, Florian; Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...

Persistent link: https://www.econbiz.de/10005097846