Kopplungsmuster zwischen Finanzmarktbedingungen

February 2017: New Book Publication

“Innovationen und Finanzmarkt”  has been recently  published by Prof. Dr. Hartmut Hirsch-Kreinsen and Kathrin Hahn. The article is a contribution to the book  “Finanzmarktkapitalismus? Der Einfluss von Finanzialisierung auf Arbeit, Wachstum und Innovation” (Campus Verlag).


2017: New Working Paper

Halder, A./ Prügl, R./ Kraiczy, N./ Hack, A.: Family firm innovativeness: A question of family collaborative dialogue? Working Paper


2016: New Article in Family Business Companion

Kraiczy, N. / Hack A. (2016):Innovation in Family Business Research: A review and future directions. In: Hoy, F./ Kellermanns, F.W. (Hrsg.): Family Business Companion.


2015: New Article in International  Journal of Innovation Management

Kraiczy, N./ Hack, A./ Kellermanns, F.W. (2015): The relationship between top  management team innovation orientation and firm growth: The mediating role of firm innovativeness. International Journal of Innovation Management 19.


 2015: New Article in Journal of Business Economics

Kraiczy, N.D./ Hack, A./ Kellermanns, F.W. (2015): CEO innovation orientation and research and development intensity in small and medium-sized firms: The moderating role of firm growth. Journal of Business Economics 8, 851-872.


2015: New Article in Journal of Product Innovation Management

Kraiczy, N./ Hack, A./ Kellermanns, F.W. (2015): What Makes a Family Firm Innovative? CEO Risk-Taking Propensity and the Organizational Context of Family Firms. Journal of Product Innovation Management 32, 334-348.


27/11/2014: FINN Autumn Workshop

The growing influence of the financial market on companies was intensively discussed and studied in recent years. The predominating financial market logic, introduced by new external investors, is criticised as the reason for reducing financial, staff and organizational freedom for innovation. The economisation of innovation projects involves the risk of decreasing the innovativeness of German companies.

The FINN workshop participants discussed the impact of the financial market on companies’ innovation strategies. The FINN-Team as well as Marek Giebel and Kornelius Kraft (TU Dortmund, Chair for Economic Policy) presented first results from their current projects: Based on the results of qualitative case studies and quantitative analyses it appears that the influence of the financial market on innovation strategies was less distinctive than primarily expected.


Short summary of the presentations


29/10/2014: New Working Paper

Katrin Hahn: Innovationsfinanzierung im Spannungsfeld von Risiko und Unsicherheit: Bremsen die gegenwärtigen Finanzmarktbedingungen unternehmerische Innovationen?


Full paper


16/09/2014: New Book Publication

Steden, Stephanie (2015): Das System der Finanzierung von Technologieentwicklung am Beispiel der Photovoltaik-Industrie, Wiesbaden: Springer VS.


More information (Flyer)


02/09/2014: New Working Paper

Hartmut Hirsch-Kreinsen, Katrin Hahn: Financialization of Innovation - the Case of the German Industrial Innovation System, No. 39 08/2014.


Full paper


08/05/2014: Quantitative survey to be finished by the end of August

In addition to the in-depth interviews we are running an online-based company survey. By the end of August we are questioning german enterprises concerning their financing strategies for technological innovations. The results will be evaluated statistically and contrasted to the findings of the qualitative survey.


08/04/2014: 1st phase finished of qualitative survey

Within the first part of our empirical research we talked to company representatives about their financing and innovation strategies. These companies can be divided into two groups: those with a great orientation to capital markets and those with a weak orientation. Also representatives of banks and consultants were interviewed. The intention of the interviews was to reveal basic relationships between enterprises and banks in the context of innovations. First results are about to be published in a working papaer, which will be available soon.

 


06/29/2013: Presentation on SASE-Conference in Milan

Katrin Hahn presents at the international conference of the Society for the Advancement of Socio-Economics (SASE) in Milan the yet uncompleted picture of the interrelations between financial market instruments and companies innovation strategies. In preparation for the upcomming empirical study she formulates first hypotheses related to the case of private equity.

>> Link to Presentation


01/10/2012: The Project “Financial Market and Company Innovation Strategies” (FINN) has started

Financial market capitalism and shareholder value are widely used terms that underline the increased importance of financial markets for company strategies: short-term return assumptions prevail over long-term strategies, so the argument goes. However, innovation strategies are often planned on a long-term basis and are risky and uncertain regarding their technical and financial success. Investments- if at all- only pay off in a mid- or long-term perspective. The effects of the financial crisis and the tightened institutional requirements for bank lending have further increased the importance of this issue.

The basic assumption of the FINN Project is that there is a close link between the course of innovations and their financing arrangements. This raises the question of how strong this interrelation is and which consequences the changed financial market conditions have for the innovation strategies of companies.

Duration: 10/2012-09/2015