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Managerial ownership, entrenchment and innovation

Beyer, Mila; Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation. …

Persistent link: https://www.econbiz.de/10009003577

Sources of spillovers for imitation and innovation

Cappelli, Riccardo; Czarnitzki, Dirk; Kraft, Kornelius - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation. …

Persistent link: https://www.econbiz.de/10010957653

Profit-sharing and innovation

Aerts, Kris; Kraft, Kornelius; Lang, Julia - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

We investigate the effect of profit-sharing on product and process innovation. Profit-sharing is a credible commitment … that the introduction of profit-sharing only spurs product innovation. …

Persistent link: https://www.econbiz.de/10010957731

On the Profitability of Innovative Assets

Kraft, Kornelius; Czarnitzki, Dirk - 2004

Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on...

Persistent link: https://www.econbiz.de/10010297363

Capital Control, Debt Financing and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - 2004

innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …

Persistent link: https://www.econbiz.de/10010297397

License Expenditures of Incumbents and Potential Entrants: An Empirical Analysis of Firm Behavior

Czarnitzki, Dirk; Kraft, Kornelius - 2005

variables the motives for innovation expenditures are also taken into account. We differentiate between firms which intend to …

Persistent link: https://www.econbiz.de/10010297441

Do Spillovers Stimulate Incremental or Drastic Product Innovations? Hypotheses and Evidence from German Establishment Data

Jirjahn, Uwe; Kraft, Kornelius - 2006

We estimate the determinants of various types of product innovation. Knowledge spillovers from rivals have a positive … exert no such independent influence on drastic innovation activities. The results support the hypothesis that establishments …

Persistent link: https://www.econbiz.de/10010297531

Haftungsregeln und Innovation

Czarnitzki, Dirk; Kraft, Kornelius - 2000

This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity …

Persistent link: https://www.econbiz.de/10010297701

Management Control and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - 2000

This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning...

Persistent link: https://www.econbiz.de/10010297732

Firm leadership and innovative performance: evidence from seven EU Countries

Kraft, Kornelius; Czarnitzki, Dirk - 2001

This paper considers the effect of different firm leadership on the innovative performance of firms from seven EU countries. We investigate whether owner-led or manager-led firms achieve a larger share of their turnover with product innovations. Economic theory does not propose clear answers to...

Persistent link: https://www.econbiz.de/10010297773