Using the case of the pharmaceutical industry, this paper assesses how the leading German and UK firms are adapting to changes in their competitive environment, at both the national and international level. We attempt to link how firms create governance structures (management decision-making,...

Using a newly constructed panel dataset of German enterprises, I estimate R&D and capital investment equations for the time period from 1990 to 1994. Simple accelerator specifications indicate considerable sensitivity of R&D and investment to cash flow for relatively small firms. Much of this...

Patent renewal studies reveal a highly rightward-skewed distribution of patent values. Our approach elicits valuations approximating those of the patented invention. This paper focuses on the full-term patents of the application year 1977 held by West German and U.S. residents. The tail of...

This paper studies collusive behavior in a repeated oligopoly model with localized competition. Private information about the rivals' past actions naturally arises from this product market structure. The resulting communication problems imply that firms should adopt strategies with sufficiently...

This paper proposes a reduced form approach to identify the presence of monopoly power in oligopolies characterized by vertical product differentiation. In a fairly general model I derive an explicit solution for the reduced form pricing equations under the hypothesis that firms behave...

Based on a longitudinal data base we test the liability of adolescence hypothesis which states that new firm hazard rates follow an inverted U-shaped pattern. That is, the hazard rate is low for the initial period; the end of adolescence is marked by a hazard maximum, from which then rate...

In diesem Beitrag wird ein Oligopolmodell der Innovationsaktivität entwickelt und mit Daten aus dem Mannheimer Innovationspanel geschätzt. Das Modell erlaubt es, bei der empirischen Umsetzung auf die Verwendung von Marktanteilsdaten und Nachfrageelastizitäten zu verzichten, die typischerweise...

This paper studies compensation schemes that can motivate a worker to acquire nonverifiable firm-specific skills, when the acquisition process is also one of learning about managerial talent. At the beginning of the employment relationship, the worker encounters opportunities to enhance her...

We examine a three-stage game in which duopolists face a random demand intercept. The firms first choose capacities, then decide whether to commit to share the private information they will receive about the intercept. After the private information is observed, firms choose output levels....

Bei der Restrukturierung und Modernisierung der Industrie in den ostmitteleuropäischen Ländern, Polen, Ungarn, Tschechien, spielen ausländischen Direktinvestitionen eine wichtige Rolle. Das Joint Venture Skoda-Volkswagen stellt eine der größten Investitionsbeteiligungen in Tschechien dar....