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Banking Crises and Corporate Innovation

28 Jun 2018 - 12:00 pm - 1:00 pm

(joint work with Ulrich Schüwer, University of Bonn)

Abstract: We examine whether and how banking crises affect corporate innovations, using data on patent quantity, quality and portfolio structure of companies in manufacturing industries around the world over the period 1988 to 2012. We find that banking crises lead to relatively fewer patents in industries that depend more on external finance. A number of patent characteristics also indicate a negative effect of banking crises on innovation quality in these industries. This suggests that firms forego productivity-enhancing investments caused by financial constraints. Furthermore, our results show that banking crises lead to intensified sales (divestments) of existing patents in more finance dependent industries. In sum, our evidence highlights important real effects of banking crises on the economy.

Details

Date:
28 Jun 2018
Time:
12:00 pm - 1:00 pm
Event Category:
Event Tags:

Venue

Golfclub Olching e.V.,
Feursstraße 89
Olching,82140Germany
Website:
https://www.golfclubolching.de/

Other

Name (Seminar)
Steffen Juranek
Link Name (Seminar)
https://www.nhh.no/en/employees/faculty/steffen-juranek/
Institution
Norwegian School of Economics, Oslo
Room
0514
Host
Hanna Hottenrott
Host Link
https://www.professoren.tum.de/hottenrott-hanna/
Room Link
http://portal.mytum.de/displayRoomMap?0514@0505

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