Many start-ups chose to compete with incumbent firms using one of two generic strategies: cost leadership or differentiation. Our study demonstrates how this choice depends on whether the startup was founded out of necessity. Our results, based on a representative data set of 4,568 German...

Many start-ups chose to compete with incumbent firms using one of two generic strategies: cost leadership or differentiation. Our study demonstrates how this choice depends on whether the start-up was founded out of necessity. Our results, based on a representative data set of 4,568 German...

The discussion about country-specific influence on the interest rate decisions of the European Central Bank does not cease. To investigate the possibility of regional influence on the determination of the policy rate, we estimate Taylor-type reaction functions for the period from 1999 to 2005...

The confidence that financial markets are able to discipline the debt behaviour of governments is not very high. Therefore, the Stability and Growth Pact has been implemented as an institutional constraint to substitute for the market mechanism. With the weakening of the Pact, market discipline...

We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...

We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...

Vor dem Hintergrund von Markt- und Staatsversagenstatbeständen leitet die wirtschaftstheoretische Literatur mögliche Hemmnisse für Existenzgründungen ab. Die vorliegende Studie unternimmt eine Systematisierung unterschiedlicher Facetten entsprechender empirischer Evidenz. Hierbei liegt ein...

Support of business start-ups is partially motivated by social policy objectives. The paper discusses these social policy objectives on a conceptual and empirical basis. Its focus is on start-ups out of unemployment. Implications for the design and the evaluation of socially motivated start-up...