The winner’s curse describes the behavioural phenomenon that the winner of a bidding contest pays a price that is too high. This paper shows that experiential learning cannot prevent a winner’s curse on the…
The subsidiaries of foreign-owned multinational firms make significant contributions to national Research and Development (R&D) in many host countries. Policymakers in host countries often support subsidiaries’…
How important is Google for scientific research? This paper exploits the exogenous shock represented by Google’s sudden withdrawal of its services from mainland China to assess the importance of access to…
In a time of groundbreaking changes and technological revolutions, it is of great importance for Germany to remain innovative and establish future-oriented business models. A key question is whether Germany can…
When firms are forced to publicly disclose financial information, credit rating agencies are generally expected to improve their risk assessments. Theory predicts such an information quality effect but also…