This paper investigates patterns of structural change and specialization of Western European Countries for the period 1970 to 2005. We therefore assign individual countries to clubs, i.e. groups of countries which share common features, and analyze the development of both the clubs and their individual countries over time. Our results also show that structural convergence in Western Europe is m...

One in four U.S. high-tech firms are led by CEOs with hands-on innovation experience as inventors. We show that these “Inventor CEOs” stimulate higher quality firm-level innovation, especially when they have a personal history of high-impact patents. A CEO’s technology-class specific inventor experience also predicts the technology classes in which a firm has its greatest innovation success. Ut...

Globalization, high growth rates in high-tech industries, growing emerging markets and harmonization of patent institutions across countries have stimulated patenting in foreign markets. We use a simple model of international patenting, where the decision to patent in a foreign country depends on country characteristics and the quality of the patented invention. With access to a detailed databa...

The exchange rate plays an essential role for firms which export goods and import raw materials. In this paper, the effects of real specific exchange rate fluctuations in imports, exports and aggregate trade on industry sector, chemical and transportation industries outputs in 49 OIC countries were investigated by using a panel data model over 1990-2014. Particularly, this paper presents eviden...

We calculate abnormal stock returns for Japanese non-financial companies around major events associated with the banking crisis (1995–2000), and find that not all companies were equally sensitive to the malaise of the banking sector: the most affected were small, leveraged, low-tech companies with low credit ratings and low market to book ratios. This is consistent with ‘‘credit crunch’’ theori...

I HAVE EARLIER TALKED about the changing global semiconductor industry (" The Changing Face of IC Design and Its Industry, " IEEE Design & Test, Nov.-Dec. 2003). This is an industry in massive structural transformation , from manufacturing migration to the rise of fabless design houses in a rapidly disaggregating marketplace for semiconductors. And yet, it presents a tremendous potential for ec...