Using micro-level panel data of about 35,000 firms from the German Cost StructureCensus, we analyze the differences of technical efficiency across industries. Technicalefficiency is estimated by firms’ fixed effects. One striking result is that the distribution oftechnical efficiency across...

While a market economy seeks equilibrium, a knowledge-based economy may upset this tendency towards stabilization by adding the feedback of globalization. The interaction among the three subdynamics of economic exchange, technological innovation, and institutional control can be captured with a...

Die Gründung eines innovativen Unternehmens stellt eine Form der kommerziellen Verwer-tung von Wissen dar. Der Beitrag gibt einen Überblick über Ausmaß von Gründungen in wis-sensintensiven bzw. innovativen Branchen und deren Entwicklung. Da die Gründung eines Unternehmens wesentlich durch...

This paper deals with the question of whether public venture capital (VC) isperforming its task properly, taking a look at how public VC companies’ selectionprocess, investment behavior, and consulting services reflect goals that differ fromthose of private VC firms. The results present...

Die strategische Asset Allokation ist die für den langfristigen Anlageerfolg wichtigste Entscheidungeines Kapitalanlegers. Eine fundierte Entscheidung erfordert einen mehrstufigen,strukturierten Prozess. Der Anleger muss sich mit den realistischen Chancen des Kapitalmarktesund mit seinen...

We investigate the contribution of different inputs, particularly different knowledge sources,on regional patenting output in the framework of a knowledge production function. Theknowledge sources included are R&D employment, size of public research institutions byfield of research (budget),...

Der Beitrag behandelt den Einfluss des Gründungsgeschehens auf die regionale Entwicklung. Viele dieser Wirkungen sind indirekter Natur und müssen sich nicht notwendig in der Region niederschlagen, in der die Gründung stattfand. Empirische Analysen für westdeutsche Regionen zeigen, dass nur...

We examine the role of spatial proximity for Venture Capital (VC) investments in Germany. The main database is a survey of 85 personal interviews with representatives of different types of financial institutions. The analysis shows that spatial proximity is far less important for VC investments...

We analyze the development of employment in start-up cohorts, which is the direct gross employment effect of the new businesses. The data is for West Germany and covers the 1984- 2002 period. While total employment in the cohorts remains above the initial level in manufacturing, we find a...

We introduce a new two-dimensional measure for the heterogeneity of performance within groups of economic units. This measure accounts both, for the relative performance of the single units of groups and their relative size. We demonstrate that the new measure leads to a much more differentiated...