Labor unions played an historic role creating the occupational pension system in the private and public sectors in the post-World War II era. That system, which was dominated by defined benefit pension plans, is in decline. The transition to a new system is economically and socially painful, and...

We examine the stock returns implications of the corporate defined benefit pension plans in R&D portfolio specifications. Pensions are one of the most significant off-balance-sheet items and liabilities arising from pensions are extensive. In our sample, firms with pension plans are 38% more...

While coming to grips with the challenges of market turbulence, repeated financial crises, and the 2001 introduction of a fair value disclosure regime, Denmark's Labour Market Supplementary Pension Plan (ATP) concluded that its approach to pension management needed to change. As a result, the...

This study examines the relation between employee incentives and corporate innovation. We find that firms with a higher defined benefit (DB) pension value secure more patents and patent citations. We further show that pension freezes, which stop the accumulation of pension obligations,...

[Innovationsleistung der Chemie] Die Chemieindustrie ist eine wesentliche Säule des deutschen Innovationssystems. Als forschungsintensive und innovationsstarke Branche ist sie führend bei der Entwicklung neuer Materialien, Werkstoffe und Komponenten. Mit ihren Innovationen erneuert sie...

One of the main goals of the "Energy Strategy 2050" in Switzerland is the exploitation of the existing energy efficiency potentials. The size of the efficiency potential strongly depends on the development and the adoption of energy-related innovations. The objective of this project is to...

The paper examines the determinants that influence the environmental innovation behaviour of companies in Germany in a multivariate context by using data from the Mannheimer Innovations Panel 1993, which was part of the Community Innovation Survey. The objective is to analyse the general...

Innovationen sind ein zentrales Element zur Erhaltung der Wettbewerbsfähigkeit Deutschlands in einer globalisierten Weltwirtschaft. Waren die Innovationsanstrengungen von Wirtschaft und Politik in der Vergangenheit vorrangig darauf ausgerichtet, auf Forschung und Entwicklung basierende...