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Referierte Aufsätze Web of Science
We examine firms' motivation to change their main bank and how this switch affects loans, interest payments, and firm performance. Applying treatment effect analysis to unique firm-bank matched Ukrainian data, we find that larger and more highly leveraged companies are more likely to switch their main bank. Importantly, firms tend to switch to a new main bank that holds a higher share of equity in ...
In:
Emerging Markets, Finance & Trade
48 (2012), 2, S. 76-93
| Andreas Stephan, Andriy Tsapin, Oleksandr Talavera
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Referierte Aufsätze Web of Science
The worldwide telecommunications equipment industry has experienced an enormous number of mergers and acquisitions (M&A). This article examines the innovation determinants of M&A activity and the consequences of M&A on technological potential and innovation performance. We extend the resource-based theory in elucidating external technology sourcing and provide empirical evidence on the keen reliance ...
In:
Industrial and Corporate Change
21 (2012), 2, S. 277-314
| Tseveen Gantumur, Andreas Stephan
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Referierte Aufsätze Web of Science
Aggregated consideration of both climate and socio-economic change in a coarse spatial resolution is a central feature for scenario development in global change research. Downscaling of the supposed aggregated changes is a necessary prerequisite for the assessments of global change at the regional scale. The present paper describes the method and results of an approach to develop and to apply scenarios ...
In:
Regional Environmental Change
12 (2012), 1, S. 69-80
| Jürgen Blazejczak, Martin Gornig, Volkmar Hartje
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Referierte Aufsätze Web of Science
Efficiency measurement in public transport requires an adequate account of unobserved network characteristics that are typically modelled as factors separable from the production process. This paper proposes a panel data model that allows for non-separable firm-specific heterogeneity in an input distance function. The proposed model is applied to a sample of German and Swiss urban transit companies ...
In:
Journal of Transport Economics and Policy
46 (2012), 1, S. 51-66
| Astrid Cullmann, Mehdi Farsi, Massimo Filippini
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Referierte Aufsätze Web of Science
In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rates, covering the period December 2001 until August 2009 at weekly frequency. We then test whether the ...
In:
Energy Economics
34 (2012), 1, S. 105-116
| Aleksandar Zaklan, Astrid Cullmann, Anne Neumann, Christian von Hirschhausen
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Referierte Aufsätze Web of Science
This paper assesses the relative efficiency of knowledge production in the OECD using a nonparametric DEA approach. In general, resources allocated to R&D are limited and therefore must be used efficiently, given the institutional and legal constraints. The efficiency scores presented are based on an intertemporal frontier estimation for the period 1995 to 2004. We analyse the impact of the regulatory ...
In:
Oxford Economic Papers
64 (2012), 1, S. 176-196
| Astrid Cullmann, Jens Schmidt-Ehmcke, Petra Zloczysti
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Referierte Aufsätze Web of Science
In January 2009, the German Federal Network Agency introduced incentive regulation for the electricity distribution sector based on results obtained from econometric and nonparametric benchmarking analysis. One main problem for the regulator in assigning the relative efficiency scores is unobserved firm-specific factors such as network and technological differences. Comparing the efficiency of different ...
In:
Empirical Economics
42 (2012), 1, S. 147-169
| Astrid Cullmann
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Referierte Aufsätze Web of Science
The labor market implications of large investment into renewable energy (RE) are analyzed in this text. Although a growing RE industry can be observed in Germany the overall effect of large increases of RE based electricity and heat generating technologies on the German economy require a careful model based analysis. The applied model PANTA RHEI has been used among others to evaluate the German energy ...
In:
Energy Policy
47 (2012), S. 358-364
| Ulrike Lehr, Christian Lutz, Dietmar Edler
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Referierte Aufsätze Web of Science
We investigate the link between the propensity to become an entrepreneur and the exogenous release from financial constraints in Germany. This is defined in terms of the movement from employment to self-employment on receipt of a financial windfall. A theoretical framework developing Evans and Jovanovic (1989) is set up and tested with panel data from German households. The results show that financial ...
In:
Economic Modelling
28 (2011), 5, S. 2174-2180
| Dorothea Schäfer, Oleksandr Talavera, Charlie Weir
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Referierte Aufsätze Web of Science
Improved understanding of the innovative pathways of renewable energy technologies is vital if we are to make the transition to a low carbon economy. This study presents new evidence on innovation and industry dynamics in concentrating solar power (CSP) technologies. Though CSP is undergoing a renaissance, existing innovation studies have explored innovative activity in solar technologies in general, ...
In:
Energy Policy
39 (2011), 5, S. 2441-2456
| Frauke G. Braun, Elizabeth Hooper, Robert Wand, Petra Zloczysti