This paper examines the use of innovation protection mechanisms in small and medium enterprises (SMEs). By starting from a knowledge-based view the aim is to achieve a better understanding of how the role perceived by innovating SMEs of patent protection and the long-term retention of qualified...

Diese Arbeit befaßt sich mit dem Übergangsverhalten von Abgängern aus der Berufsausbildung in die erste Beschäftigung. Anhand Daten des Sozioökonomischen Panels wird ein Verweildauermodell, für die Zeitspanne zwischen dem Abschluß der Berufsausbildung und dem Eintritt in das erste...

Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of equity contracts since risky but high returns are of relatively more value for a loan-financed firm. On the contrary, authors who focus explicitly on start-up finance predict that...

This paper deals with the labor market entrance of young people in the Federal Republic of Germany. The main focus is on failures during this stage. First, an overview of the youth labor market in Germany is given. Then, the transition from vocational training to work is analyzed: The duration...

The paper investigates young firms' choice of capital source. Our theoretical model hypothesizes a positive (negative) relation between riskiness of the project (price of venture capital) and receiving informed equity. We test our predictions by employing a unique data set collected by KfW...