This study focuses on the diversification benefits of the most developed equity markets of Central and Eastern Europe (CEE). To evaluate these benefits of diversification we use so-called spanning tests based on a stochastic discount factor approach and estimated by General Methods of Moments...

Gegenstand dieses Aufsatzes ist es, Forschungshypothesen zur Firmenselektion und zur industriellen Entwicklung aus der industrieökonomischen Theorie, sowie den theoretischen Ansatz der Organisationsökologie zu testen. Der empirischen Untersuchung liegt eine Stichprobe aus der Gewerbemeldedatei...

Organizations constantly strive to unleash their entrepreneurial potential to keep up with market and technology changes. To this end, they engage employees in practices like corporate crowdsourcing, incubators, accelerators or hackathons. These organizational practices emulate independent...

In this paper, we examine the macro-to-micro-transition of cluster externalities to firms and how it is affected by the macroeconomic instability caused by the recessionary shock of 2008/2009. Using data from 16,166 manufacturing and business services firms nested in 390 German regions, we...

During the last years more and more discussions came up about the contribution of technology-oriented and technology-intensive industries for the economic development and employment. One reason for these contradictory evaluations of technology-intensive industries can be attributed to different...