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An empirical test of the asymmetric models on innovative activity : who invests more into R&D - the incumbent or the challenger?

Czarnitzki, Dirk; Kraft, Kornelius - 2000

The theoretical discussion concerning the question whether the incumbent or the (potential) entrant invests more into R&D has attracted considerable interest. This paper reports the results of an empirical study on this question using data of about 3500 German firms over the years 1992 to 1995....

Persistent link: https://www.econbiz.de/10011444512

Business services in Germany : bridges for innovation

Czarnitzki, Dirk; Spielkamp, Alfred - 2000

services. About 8 percent of total employment in West Germany is in business services. In particular, by taking advantage of …

Persistent link: https://www.econbiz.de/10011445015

Do R&D subsidies matter? : evidence for the German service sector

Czarnitzki, Dirk; Fier, Andreas - 2001

In recent times the service sector is often called the driving force of today's economies. This paper analyses the innovative activities of German service firms. We investigate whether firms that receive public subsidies for innovation projects engage more in innovative activities than others....

Persistent link: https://www.econbiz.de/10011445968

Industrial research versus development investment : the implications of financial constraints

Czarnitzki, Dirk; Hottenrott, Hanna; Thorwarth, Susanne - 2009

Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....

Persistent link: https://www.econbiz.de/10003881344

Heterogeneity of patenting activity and its implications for scientific research

Czarnitzki, Dirk (contributor); … - 2007

publishing distinguishing between different types of patents for a large sample of professors active in Germany. Our results show …

Persistent link: https://www.econbiz.de/10003479951

Financial constraints : routine versus cutting edge R&D investment

Binz, Hanna L. (contributor); Czarnitzki, Dirk (contributor) - 2008

We analyze financial constraints for R&D, where we account for heterogeneity among investments which has been neglected in previous literature. According to economic theory, investments should be distinguished by their degree of uncertainty, e.g. routine R&D versus cutting-edge R&D. Financial...

Persistent link: https://www.econbiz.de/10003618884

Patent protection, market uncertainty, and R&D investment

Czarnitzki, Dirk (contributor); Toole, Andrew A. (contributor) - 2006

The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.

Persistent link: https://www.econbiz.de/10003359656

R&D and firm performance in a transition economy

Czarnitzki, Dirk (contributor); Kraft, Kornelius (contributor) - 2006

of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on … firm value proxied by ratings in Western Germany, but a negative impact in Eastern Germany. We also consider future … financial distress, and find that R&D in Eastern German firms leads to higher default risk, in contrast to Western Germany …

Persistent link: https://www.econbiz.de/10003328090

R&D investment and financing constraints of small and medium-sized firms

Czarnitzki, Dirk (contributor); Binz, Hanna L. (contributor) - 2008

This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than...

Persistent link: https://www.econbiz.de/10003728587