Corporate venture investments are an established means for incumbent firms to access radical innovation. Drawing from a behavioural agency framework, we distinguish two mechanisms that govern the relationship…
While the effects of non-geographic aggregation on statistical inference are well studied in economics, research on the effects of geographic aggregation on regression analysis is rather scarce. This…
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system to study this question. As of 2005 (with a phase-in period between 2002 and 2004), the…
Innovation activities in the German business sector showed two opposing trends over the past two decades: While total innovation expenditures grew substantially, the number of firms conducting innovation…
We advance the literature on political budget cycles by testing for cycles in expenditures for elections to the legislative and the executive branches. Using municipal data, we identify cycles independently for…
This paper analyzes the impact of information and communication technologies (ICT) on economic growth in developing, emerging and developed countries. The main question is whether the gains from investments in…
Based on representative firm-level data for the three countries Austria, Germany, and Switzerland, we investigate the effects of energy-related regulations, taxes, voluntary agreements, and subsidies on the…
