We investigate the impact of mergers on R&D incentives within a framework of R&D competition where effort can influence both the probability of innovation and the payoff conditional on success. Our framework nests the results of two classes of existing models and reveals assumptions that are...

The world faces a pressing challenge to meet key development objectives amid slowing growth and rising macroeconomic and geopolitical risks. With the number of job seekers rising rapidly, infrastructure shortfalls continuing to be large, and climate costs mounting, the case for a significant...

Germany has introduced a comprehensive package of staggered business tax breaks to accelerate business investment and give new momentum to economic growth. The key components of the so-called investment booster program are a temporary tax write-off on machinery and other equipment investments to...

Der Bundesländerindex Familienunternehmen vergleicht die Standortqualitäten der deutschen Bundesländer aus der Perspektive von Familienunternehmen. Er blickt in das Innere des deutschen Föderalismus und will damit zur höheren Leistungstransparenz für die Bundesländer beitragen.

This research studies a monopoly firm's timing and size decisions to introduce a new and partially substitutable product under demand uncertainty and financing constraint. Accessible financing resources for the investment are positively related to firm's revenues from the existing product. We...

Energy security risks and private sector development are inherently intertwined and serve as pivotal determinants in shaping the evolutionary trajectory of the renewable energy (RE) industry, especially in emerging economies, where the transition to sustainable energy constitutes a critical...

Feed-in tariffs (FiTs) have been instrumental in expanding renewable electricity generation but can distort investment by insulating producers from market price volatility. This paper develops a twostage model of electricity markets with stochastic demand and supply shocks, showing that a higher...

This study empirically investigates the determinants of financial success for startups engaged in impact versus conventional investment, performing a landscape analysis of the MENA region's financial ecosystem. Using the total equity funding amount (TEFA) as a performance proxy, we analyzed data...

This study investigates how credit supply shocks impact firm-level investment across the euro area using the novel AnaCredit database. Employing the methodology developed by Amiti and Weinstein (2018), we decompose loan growth rates into four components: bank-specific, firm-specific,...

Der Bundesländerindex Familienunternehmen vergleicht die Standortqualitäten der deutschen Bundesländer aus der Perspektive von Familienunternehmen. Er blickt in das Innere des deutschen Föderalismus und will damit zur höheren Leistungstransparenz für die Bundesländer beitragen.

In an imperfect capital market, firms face financial constraints due to information asymmetry. These constraints have a significant impact on the effectiveness of investment decisions. When either an underinvestment or overinvestment process occurs, it directly affects the firm's value. This...

Green investment has emerged as a crucial tool for sustainable development, but its determinants across heterogeneous regional contexts remain inadequately understood. This study examines determinants of green investment across Chinese provinces, focusing on R&D intensity, pollution control...

Over the past decades, a growing body of research has examined the structural and behavioral barriers that hinder firms from adopting cost-effective technologies to improve energy efficiency. In this paper, we draw on firm-level data from the EIB Investment Survey combined with energy efficiency...

The yen depreciation from 2012-2015 reduced robot prices for U.S. firms. Paradoxically, financially constrained firms dramatically increased adoption relative to their unconstrained peers. We rationalize this with a collateral model: robots are pledgeable assets requiring non-pledgeable...

Mit der Neuordnung der internationalen Lieferketten hat Mexiko als Standort für neue Auslandsinvestitionen an Bedeutung gewonnen. Das Land konnte vom Nearshoring profitieren, das heißt von der Verlagerung von Dienstleistungen oder Produktionsprozessen in die Nähe der Konsumentenmärkte. Damit...

We use narrative monetary policy shocks and local projections to estimate the impact of monetary policy on consumption and investment. We use granular data to investigate how the response varies across consumption categories, investment types, and sectors. Our findings indicate that both...

Improving the energy efficiency of the residential housing sector represents a key challenge in meeting Ireland's carbon reduction targets. While challenges exist across the sector in terms of incentivising upgrades, these difficulties are more pronounced in the rental sector, which suffers from...

Das Working Paper beleuchtet Lage und Trends am Arbeitsmarkt in drei Kernbranchen der IGBCE: Chemie, Pharmazie und Kunststoff produzierende Industrie. Obwohl in den wichtigsten Berufen dieser drei Branchen am Arbeitsmarkt deutliche Engpässe auftreten, führen Transformationsprozesse und...

Using high-frequency data, the paper analyzes the link between public infrastructure investment and private corporate investment in India for the decade ending 2023-24. We adopt the ARDL model to investigate the existence of cointegration and find strong evidence of the crowding-in of private...

Ensuring sustainable public health investment is a vital global objective, as strong healthcare systems enhance life expectancy, economic productivity, and overall development. Economic complexity has emerged as a key driver of fiscal capacity and long-term prosperity, yet its direct effect on...

This study explores dynamic interconnectedness and volatility spillovers among four asset clusters-brown (fossil fuels), green (clean energy), blue (water-related), and orange (technology)-from April 2014 to October 2024, incorporating major geopolitical events, such as COVID-19, the...

This study examines how carbon price uncertainty (CPU) in China's regional carbon markets shapes firms' green investment (GI) decisions, addressing a critical gap in empirical and regional research. Using granular data from eight Chinese regional carbon markets and listed firms' green...

After each economic crisis, such as the recent COVID-19 pandemic, governments have used public investment as a crucial tool to help economies recover quickly. However, a significant concern is how to structure such investments to meet the intended objectives while avoiding risks during...

This study analyzes the impact of research and development (R&D) investment on economic growth in Panama, an emerging economy with structural challenges in its innovation system. Using a multivariate econometric approach that included elastic net regularization and fixed-effect panel data...