IWH-FDI-Mikrodatenbank
IWH-FDI-Mikrodatenbank Die IWH-FDI-Mikrodatenbank (FDI = Foreign Direct Investment) umfasst eine in der Projektlaufzeit ständig aktualisierte Grundgesamtheit von…
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Brown Bag Seminar
Brown Bag Seminar Financial Markets Department In der Seminarreihe "Brown Bag Seminar" stellten Mitarbeiterinnen und Mitarbeiter der Abteilung Finanzmärkte und deren…
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Projekte
Unsere Projekte 07.2022 ‐ 12.2026 Evaluierung des InvKG und des Bundesprogrammes STARK Bundesministerium für Wirtschaft und Klimaschutz (BMWK) Im Auftrag des Bundesministeriums…
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The Privatisation Activities of the Treuhandanstalt and the Transformation of the East German Corporate Landscape: A New Dataset for First Explorations
Alexander Giebler, Michael Wyrwich
IWH Technical Reports,
Nr. 1,
2018
Abstract
Even nearly 30 years after the fall of the Berlin Wall, the privatisation and transformation of East Germany's business landscape is controversially discussed in the media and politics. The privatisation process led to enormous structural changes, which were associated with massive job losses. In particular, the stagnating regional development of East Germany is often blamed on the “long shadow” of the privatisation activities of the Treuhandanstalt (THA). From a scientific perspective, however, there are hardly any contributions dealing with the effects of privatisation activities. The IWH-Treuhand Privatisation Micro Database introduced in this technical report is novel as such that it provides comprehensive information on employment and turnover figures for formerly state-owned enterprises for the early 1990s.
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Decision-making Power in Foreign Subsidiaries and Its Effect on Financial Constraints: An Analysis for Selected European Transition Economies on the Basis of the IWH FDI Micro Database 2013
Andrea Gauselmann, Felix Noth
Eastern European Economics,
Nr. 6,
2016
Abstract
This article analyzes whether the distribution of decision-making power between the headquarters and foreign subsidiaries of multinational enterprises (MNEs) affects the foreign affiliates’ financial constraints. The findings show that not much decision-making power has as yet been moved from headquarters to foreign subsidiaries in European post-transition economies. The high concentration of decision-making power within the MNE’s subsidiary points toward higher financial constraints. However, a nonlinear effect is found, which suggests that financial constraints within the subsidiary only increase with more decision-making power when the power granted to the subsidiary is at a low level. For subsidiaries that already have autonomy in decision-making, granting more power in this regard has no effect on financial constraints.
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IWH-FuE-Mikrodatenbank: Teil 1: Daten, Datenherkunft und Datenqualität
Matthias Brachert, Wilfried Ehrenfeld, Alexander Giebler, Mirko Titze
IWH Technical Reports,
Nr. 1,
2016
Abstract
Nahezu alle entwickelten Volkswirtschaften haben Programme zur Förderung von Forschung und Entwicklung (FuE) eingeführt. Allerdings ist sehr wenig darüber bekannt, welche Programme eigentlich genau zur Anwendung kommen, welche finanziellen Mittel dafür aufgebracht werden und ob die Programme in der Art und Weise wirken, wie sie ursprünglich intendiert waren. Evaluationsstudien, die auf kausalen Untersuchungsdesigns basieren, können einen wertvollen Beitrag zur Beantwortung der Frage leisten, ob ein Programm tatsächlich Wirkungen entfaltet und welcher der verschiedenen Ansätze am erfolgversprechendsten ist.
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Taking the First Step - What Determines German Laser Source Manufacturers' Entry into Innovation Networks?
Jutta Günther, Muhamed Kudic, Andreas Pyka
International Journal of Innovation Management,
Nr. 5,
2015
Abstract
Early access to technological knowledge embodied in the industry’s innovation network can provide an important competitive advantage to firms. While the literature provides much evidence on the positive effects of innovation networks on firms’ performance, not much is known about the determinants of firms’ initial entry into such networks. We analyze firms’ timing and propensity to enter the industry’s innovation network. More precisely, we seek to shed some light on the factors affecting the duration between firm founding and its first cooperation event. In doing so, we apply a unique longitudinal event history dataset based on the full population of German laser source manufacturers. Innovation network data stem from official databases providing detailed information on the organizations involved, subject of joint research and development (R&D) efforts as well as start and end times for all publically funded R&D projects between 1990 and 2010. Estimation results from a non-parametric event history model indicate that micro firms enter the network later than small-sized or large firms. An in-depth analysis of the size effects for medium-sized firms provides some unexpected findings. The choice of cooperation type makes no significant difference for the firms’ timing to enter the network. Finally, the analysis of geographical determinants shows that cluster membership can, but do not necessarily, affect a firm’s timing to cooperate.
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Corporate Governance Structures and Financial Constraints in Multinational Enterprises – An Analysis in Selected European Transition Economies on the Basis of the IWH FDI Micro Database 2013 –
Andrea Gauselmann, Felix Noth
IWH Discussion Papers,
Nr. 3,
2015
Abstract
In our analysis, we consider the distribution of decision power over financing and investment between MNEs’ headquarters and foreign subsidiaries and its influence on the foreign affiliates’ financial restrictions. Our research results show that headquarters of multinational enterprises have not (yet) moved much decision power to their foreign subsidiaries at all. We use data from the IWH FDI Micro Database which contains information on corporate governance structures and financial restrictions of 609 enterprises with a foreign investor in Hungary, Poland, the Czech Republic, Slovakia, Romania and East Germany. We match data from Bureau van Dijk’s AMADEUS database on financial characteristics. We find that a high concentration of decision power within the MNE’s headquarter implicates high financial restrictions within the subsidiary. Square term results show, however, that the effect of financial constraints within the subsidiary decreases and finally turns insignificant when decision power moves from headquarter to subsidiary. Thus, economic policy should encourage foreign investors in the case of foreign acquisition of local enterprises to leave decision power within the enterprise and in the case of Greenfield investment to provide the newly established subsidiaries with as much power over corporate governance structures as possible.
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Determinants of Knowledge Exchange Between Foreign and Domestic Enterprises in European Post-transition Economies
Andrea Gauselmann
Journal Economia e Politica Industriale (Journal of Industrial and Business Economics),
Nr. 4,
2014
Abstract
The aim of this paper is to contribute to the literature on internationalised research and development by investigating determinants of knowledge and technology transfer between foreign subsidiaries and the local economy in European post-transition economies. This inquiry leads to a better understanding of determinants that influence this knowledge and technology exchange. Applying a logit model, we find that, in particular, the foreign subsidiary’s corporate governance structure, its embeddedness in the multinational enterprise’s internal knowledge base, its own technological capacity, the growth of the regional knowledge stock and the regional sectoral diversification are all positively associated with the transfer of knowledge. Subsidiaries’ investment motives and the relative weight of the sector of investment in the region’s economy appear to be of less importance. The analysis focuses on European post-transition economies, using the example of five selected Central Eastern European countries and East Germany. We exploit a unique dataset, the IWH FDI Micro database, which contains information on one thousand two hundred forty-five foreign subsidiaries in this region.
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MNEs and Regional R&D Co-operation: Evidence from Post-Transition Economies
Andrea Gauselmann
Grincoh Working Papers,
2013
Abstract
The aim of this paper is to contribute to the literature by investigating the determinants of R&D co-operation between MNEs’ foreign subsidiaries and enterprises in the region of location, thereby leading to a better understanding which firm- and region-specific factors influence this co-operation behavior. Applying a logit model, this paper investigates which firm- and region-specific determinants influence technological cooperation between foreign subsidiaries and suppliers, customers, and research institutions in the region of location. Results suggest that especially the foreign subsidiary’s mandate in terms of R&D, its internal technological embeddedness, its technological capability but also the regional knowledge stock are positively associated with these co-operations. The analysis focuses on post-transition economies, using the example of five selected CEE countries and East Germany. We exploit a unique dataset - the IWH FDI Micro database - which holds information on 1,245 foreign subsidiaries in this region.
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