Are multinational teams more successful?

Teams have become increasingly multinational in many sectors. The impact of national diversity on team performance is, however, controversial. On the one hand, multinational teams may have access to a greater variety of task-relevant expertise, which should increase the team performance. On the other hand, national diversity may complicate team collaboration and increase team conflict. Applying panel econometrics to 4284 team observations in a globalized sector, we find evidence that multinational teams perform worse than teams with less national diversity.     

Patent indicators for macroeconomic growth—the value of patents estimated by export volume

This paper examines the linkage between patenting and export performance for selected countries at the level of technology fields. Some empirical studies show considerable correlation between the patenting behavior of countries and their economic success in international markets. Adding to the existing literature, the aim of this analysis is to assess whether the indicators that are supposed to reflect patent value—such as patent citations or family size—have any explanatory power in estimating the export value of countries by technology fields.     

New Technologies and International Locational Choice for Research and Development Units: Evidence from Europe

This study examines the factors governing the decision to locate new research and development facilities at locations distant from company headquarters. The 20 firms surveyed are German, Swiss, Dutch, Japanese and Finnish multinationals. Development laboratories, it was found, followed the established pattern of being located away from headquarters only when distant markets attain a critical size. For research laboratories, however, the decisive factor in all cases is a desire to tap into the expertise developing in 'centres of competence' such as the American Northeast in biotechnology. This factor only operates when the new technology is otherwise unfamiliar to the investing company. This factor overrides the conventional wish to minimize the costs of internal and external communications.     

EUCO2 80/50 — Entwicklung regionaler Reduktionsstrategien durch Stakeholder-Beteiligung

Analysen und BerichteInvestitionen

Die deutsche Investitionsschw?che und die EWU — Fakt oder Fiktion? — eine Replik     

The bright and dark side of staging: Investment performance and the varying motivations of private equity firms

Previous papers that examined investment decisions by private equity funds are divided on whether staging has a positive or negative effect on returns. We believe these opposing views can be reconciled by studying when staging is used during the life of the investment relationship: We find that staging has a positive effect on investment returns in the beginning of the investment relationship, consistent with the notion that staging helps mitigate information asymmetry. However, staging appears to be negatively associated with returns when used prior to the exit decision. Our unique dataset allows us to measure these intertemporal effects precisely.     

The importance of the development banks for the financial infrastructure

In literature and practice the term “development bank” is commonly applied to investment banks for the financing of private projects which deserve to be promoted on general economic grounds. Their salient task is usually to provide medium- and long-term funds. Complementary consultative functions are occasionally performed as well while other bank transactions, especially of a short-term nature, and debit business were, as a rule, not considered. This concept of the purpose of a development bank has proved too narrow, too normative and too general.