So far, there has been no data set which observes firm formations in Germany not only on a cross-sectional basis using one-time surveys, but continuously over a number of years. Therefore, the Centre for European Economic Research (ZEW), KfW Bankengruppe and Creditreform set up a panel study of...

For small high-tech firms international orientation is regarded as crucial for growth and long-term survival. Even newly founded technology based firms (NTBFs) are often internationally active shortly after their inception (?born globals?). However, in order to create jobs and have a sustainable...

Seit seiner Gründung arbeitet das Zentrum für Europäische Wirtschaftsforschung GmbH (ZEW) in Kooperation mit CREDITREFORM, der größten deutschen Kreditauskunftei, am Aufbau, der Erweiterung und der Pflege mehrerer Paneldateien, den ZEW-Gründungspanels, zu ost- und westdeutschen sowie...

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'...