Real options investment theory predicts current investment falls asuncertainty about market returns increases. In the case of R&D investment,which is usually considered an irreversible form of investment, this effectshould be quite pronounced. This paper tests the real options predictionabout...

enterprises were not willing to offer a sufficient number of apprenticeship positions. Afrequently made argument is that the gap could be closed if more firms would be willingto incur net costs during the training period. This paper investigates for the first timewhether German enterprises on...

The increasing commercialization of university discoveries has initiated acontroversy on the impacts for future scientific research. It has been argued that anincreasing orientation towards commercialization may have a negative impact onmore fundamental research efforts in science. Several...

Die vorliegende Arbeit diskutiert Ursachen für Unsicherheiten von Konjunk-turprognosen und demonstriert die Berechnung von empirischen Prognoseinterval-len. Die Verwendung empirischer Prognoseintervalle fürr eine Beurteilung der Si-gnifikanz von Prognoserevisionen wird für den Median der...

Most existing analyses on the gender wage gap (GWG) have neglected the establishment as aplace where inequality between male and female employees arises and is maintained. The useof linked employee-employer data permits us to move beyond the individual and consider theimportance of the workplace...

This paper tests some of the predictions of recent advances in trade theorythat have focused on different trade patterns of firms within the samesector. Helpman, Melitz and Yeaple (2005) develop a model in whichinnate productivity differences between firms determine the degree ofinternational...

The International Financial Reporting Standards (IFRS) require a company to account forcurrent and future tax consequences, due to transactions and other events recognised inprofit or loss (IAS 12). Reported tax expense (tax income) seems to be relevant for bothcompany tax management (Bolton,...

Taxes play an important role in determining the capital structure of companies. Consequently,a multinational company would choose its capital structure according to differencesin international taxation. Unlike purely national firms, multinationals can also use intercompanyloans to shift profits...

In this paper we analyse the effect of R&D co-operation on firms´ innovationperformance. We investigate the effect of past co-operation on current sales ofinnovative products, distinguishing between products new to the firm and new tothe market, and on cost reductions due to innovative...