Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24383 
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dc.contributor.authorKraft, Korneliusen
dc.contributor.authorCzarnitzki, Dirken
dc.date.accessioned2009-02-16T14:54:57Z-
dc.date.available2009-02-16T14:54:57Z-
dc.date.issued2002-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x02-73en
dc.subject.jelC25en
dc.subject.jelO31en
dc.subject.jelO33en
dc.subject.ddc330en
dc.subject.keywordFirm Valueen
dc.subject.keywordCredit Ratingen
dc.subject.keywordInnovationen
dc.subject.keywordIntellectual Property Discrete Regression Modelsen
dc.subject.stwInnovationen
dc.subject.stwUnternehmenswerten
dc.subject.stwKreditwürdigkeiten
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleMeasuring the impact of innovation on firm value: a new approach-
dc.typeWorking Paperen
dc.identifier.ppn36107218Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:532en

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