Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24383
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dc.contributor.authorKraft, Korneliusen_US
dc.contributor.authorCzarnitzki, Dirken_US
dc.date.accessioned2009-02-16T14:54:57Z-
dc.date.available2009-02-16T14:54:57Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/24383-
dc.description.abstractMost of the existing empirical literature on the relationship of firm value and knowledge capital is based on the stock market valuation of companies. However, the assets of many firms are not publicly traded, and hence the calculation of market value is limited to a subsample of firms. We suggest to use a credit rating score instead and present an empirical analysis. It turns out that innovative firms, i.e. those with a reasonable knowledge stock, have a better credit rating and thus, as we propose, a higher value. However, too much of innovative activi-ties is seen as risky and the firm value decreases.en_US
dc.language.isoengen_US
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheim-
dc.relation.ispartofseries|aZEW Discussion Papers |x02-73en_US
dc.subject.jelC25en_US
dc.subject.jelO31en_US
dc.subject.jelO33en_US
dc.subject.ddc330en_US
dc.subject.keywordFirm Valueen_US
dc.subject.keywordCredit Ratingen_US
dc.subject.keywordInnovationen_US
dc.subject.keywordIntellectual Property Discrete Regression Modelsen_US
dc.subject.stwInnovationen_US
dc.subject.stwUnternehmenswerten_US
dc.subject.stwKreditwürdigkeiten_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleMeasuring the impact of innovation on firm value: a new approachen_US
dc.typeWorking Paperen_US
dc.identifier.ppn36107218Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:532-

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