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case of ARGARCH models, the approximation process chosen in this paper shows a better estimation of the stock price … development based on autoregressive models and, thus, more robust estimation results for the reaction to a regulatory change … because of the national process of governments' adjustments. Thus, the estimation results provide evidence that companies …
Persistent link: https://www.econbiz.de/10010303007
German firm-level panel data set covering manufacturing and service industries. The growing importance of service inputs into …-level productivity. The results are robust across different estimation techniques. …
Persistent link: https://www.econbiz.de/10010299937
Gaining access to technological assets and patents, in particular, has long been a major motive and objective for firm acquisitions. On the one hand, patents are used as a building instrument for the acquirer's technology portfolio. On the other hand, patents can be attractive because of their...
Persistent link: https://www.econbiz.de/10010298053
Gaining access to technological assets and patents, in particular, has long been a major motive and objective for firm acquisitions. On the one hand, patents are used as a building instrument for the acquirer's technology portfolio. On the other hand, patents can be attractive because of their...
Persistent link: https://www.econbiz.de/10010298687
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10010298024
Since the German re?unification in 1990, Eastern Germany is a transition economy. After a phase of catching up of productivity with respect to Western Germany from 1991 to 1996, the growth rates in the producing sector have dropped below the Western German ones since 1997. This study...
Persistent link: https://www.econbiz.de/10010297273
Recent studies have documented extensive heterogeneity in firm performance within countries, and innovation has been found as an important determinant. This paper addresses the issue of innovation firm performance across countries. A growing number of national firm level studies on the...
Persistent link: https://www.econbiz.de/10010297274
external impact on innovation for a panel of 113 European and North American regions over 22 years. …
Persistent link: https://www.econbiz.de/10010297291
In 2005, an EU-wide emissions trading scheme covering major CO2 producing sites shall come into power. The key objective of the trading scheme is to promote cost-efficiency of carbon reduction within the EU. We identify policy-relevant tradeoffs between overall efficiency, compensation and...
Persistent link: https://www.econbiz.de/10010297339
We investigate different techniques to assess the gender pay gap in five EU countries (France, Germany, Italy, Spain and United Kingdom), focusing on self-selection into market work. Results show that selectivity correction has an impact on both wage estimates and wage gap decomposition. If...
Persistent link: https://www.econbiz.de/10010297340