ZEW Discussion Papers

This paper investigates the effects of macroeconomic volatility on non–financial firms’ cash holding behavior. Using an augmented cash buffer–stock model, we demonstrate that an increase in macroeconomic…

We answer the questions, how many firms acting in the modern German biotechnology industry are funded by venture capital companies (VCC) as well as equity funded by corporate investors. The theory suggests a…

Dieser Beitrag untersucht die Entscheidung junger Mütter, die im Jahr vor der Geburt eines Kindes berufstätig waren, in einem Zeitraum von bis zu drei Jahren nach der Geburt auf den Arbeitsmarkt zurückzukehren.…

Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be…

Using panel data for German and Dutch firms from the services sector, this paper analyses the importance of ICT capital deepening and innovation for productivity. We employ a model that takes into account that…

In Deutschland stellen Personen, die ihre Berufsausbildung im Rahmen des dualen Systems oder durch den Besuch einer Berufsfachschule erworben haben, das Rückgrat der Beschäftigung dar. Trotz seiner Bedeutung…

The huge difference in the level and variance of student performance in the 2000 PISA study between Finland and Germany motivates this paper. It analyses why Finnish students performed so much better by…

Non-technical Summary This study analyses the dollar exposure of large German companies, i.e. value change of companies associated with changes of the price of the US dollar, and the determinants of this…

The aim of the Integrated Product Policy (IPP) is to promote product-related eco-innovations. These, in turn, depend on both support for the development of environmentally-friendly products and stimulation of…