Andreas Stephan

Professor Economics
Economics , Jönköping International Business School
Professor
CEnSE - Centre for Entrepreneurship and Spatial Economics , Jönköping International Business School
PhD in Economics
Presentation Publications

Biography

Andreas Stephan is professor of Economics and Finance at Jönköping International Business School, Sweden. He graduated with a MSc in Industrial Engineering from Technical University in Berlin and earned a Ph.D. in Economics at Humboldt University Berlin. He previously held positions at the Social Science Research Center Berlin (WZB), at the German Institute for Economic Research (DIW) and at the European University Viadrina. He is a research affiliate with CESIS – Centre of Excellence for Science and Innovation Studies at the Royal Institute of Technology in Stockholm and guest professor at the Linnaeus university, Sweden. He has been short-term visiting researcher at CASBS Stanford university and INSEAD, and a visiting scholar at the European School of Management of Technology in Berlin (ESMT) and the Swedish House of Finance in Stockholm.

 

Research

His research interests are in the areas of Green finance, SME and startup finance, banking, regulation, asset pricing and financial markets. Current projects deal with green bonds, ESG and stocks’ downside risk, and the financing of innovation. His research has been published in Research Policy, Journal of Public Economics, Economic Inquiry, Business Strategy and the Environment, European Journal of Political Economy, Industrial and Corporate Change, Journal of Comparative Economics, Kyklos, Public Choice, among others. He is an appointed associate editor for the journals Business Strategy and the Environment and Eurasian Economic Review and has organized several special issues as guest editor for various journals. Links to his publications can be found at https://ideas.repec.org/e/pst185.html.

Article

Mutarindwa, S., Schäfer, D., Stephan, A. (2024). Certification against greenwashing in nascent bond markets: lessons from African ESG bonds Eurasian Economic Review, 14, 149-173. More information
Schäfer, D., Stephan, A., Weser, H. (2023). Crisis stress for the diversity of financial portfolios: evidence from European households International Review of Economics and Finance, 83, 330-347. More information
Sahamkhadam, M., Stephan, A., Östermark, R. (2022). Copula-based Black–Litterman Portfolio Optimization European Journal of Operational Research, 297(3), 1055-1070. More information
Mutarindwa, S., Siraj, I., Stephan, A. (2021). Ownership and bank efficiency in Africa: True fixed effects stochastic frontier analysis Journal of Financial Stability, 54. More information
Kärnä, A., Manduchi, A., Stephan, A. (2021). Distance still matters: Local bank closures and credit availability International Review of Finance, 21(4), 1503-1510. More information
Löffler, K., Petreski, A., Stephan, A. (2021). Drivers of green bond issuance and new evidence on the “greenium” Eurasian Economic Review, 11, 1-24. More information
Mutarindwa, S., Schäfer, D., Stephan, A. (2021). Differences in African banking systems: causes and consequences Journal of Institutional Economics, 17(4), 561-581. More information
Baum, C., Lööf, H., Stephan, A., Zimmermann, K. (2020). "Löneskillnader finns – men inte inom låglönesektorn" Dagens Nyheter. More information
Holgersson, T., Karlsson, P., Stephan, A. (2020). A risk perspective of estimating portfolio weights of the global minimum-variance portfolio AStA Advances in Statistical Analysis, 104(1), 59-80. More information
Jensen, F., Lööf, H., Stephan, A. (2020). New ventures in Cleantech: Opportunities, capabilities and innovation outcomes Business Strategy and the Environment, 9(3), 902-917. More information
Röös, E., Carlsson, G., Ferawati, F., Hefni, M., Stephan, A., Tidåker, P., Witthöft, C. (2020). Less meat, more legumes: prospects and challenges in the transition toward sustainable diets in Sweden Renewable Agriculture and Food Systems, 35(2), 192-205. More information
Mutarindwa, S., Schäfer, D., Stephan, A. (2020). The impact of liquidity and capital requirements on lending and stability of African banks Journal of international financial markets, institutions, and money, 67. More information
Mutarindwa, S., Schäfer, D., Stephan, A. (2020). Central banks' supervisory guidance on corporate governance and bank stability: Evidence from African countries Emerging Markets Review, 43. More information
Weiss, J., Stephan, A., Anisimova, T. (2019). Well-designed environmental regulation and firm performance: Swedish evidence on the Porter hypothesis and the effect of regulatory time strategies Journal of Environmental Planning and Management, 62(2), 342-363. More information
Jensen, F., Stephan, A. (2019). Financial constraints of firms with environmental innovation Vierteljahrshefte zur Wirtschaftsforschung, 88(3), 43-65. More information
Ghosal, V., Stephan, A., Weiss, J. (2019). Decentralized environmental regulations and plant-level productivity Business Strategy and the Environment, 28(6), 998-1011. More information
Carlsson, G., Röös, E., Stephan, A., Tidåker, P., Witthöft, C. (2018). ”Ät hälften så mycket kött och mer ärtor och bönor” Stockholm: Dagens Nyheter . More information
Wulandari, F., Schäfer, D., Stephan, A., Sun, C. (2018). The impact of liquidity risk on the yield spread of green bonds Finance Research Letters, 27, 53-59. More information
Sahamkhadam, M., Stephan, A., Östermark, R. (2018). Portfolio optimization based on GARCH-EVT-Copula forecasting models International Journal of Forecasting, 34(3), 497-506. More information
Schäfer, D., Stephan, A., Solórzano Mosquera, J. (2017). Family ownership: Does it matter for funding and success of corporate innovations? Small Business Economics, 48(4), 931-951. More information
Baum, C., Lööf, H., Nabavi, P., Stephan, A. (2017). A new approach to estimation of the R&D–innovation–productivity relationship Economics of Innovation and New Technology, 26(1-2), 121-133. More information
Schäfer, D., Stephan, A. (2017). Innovation and investment funding in the post-crisis period: have financing patterns and financial constraints of German firms changed? Vierteljahrshefte zur Wirtschaftsforschung, 86(1), 129-142. More information
Baum, C., Schäfer, D., Stephan, A. (2016). Credit rating agency downgrades and the Eurozone sovereign debt crises Journal of Financial Stability, 24, 117-131. More information
Gustafsson, A., Stephan, A., Hallman, A., Karlsson, N. (2016). The “sugar rush” from innovation subsidies: a robust political economy perspective Empirica, 43(4), 729-756. More information
Eickelpasch, A., Hirte, G., Stephan, A. (2016). Firms' evaluation of location quality: Evidence from East Germany Jahrbücher für Nationalökonomie und Statistik, 236(2), 241-273. More information
Kemmerling, A., Stephan, A. (2015). Comparative political economy of regional transport infrastructure investment in Europe Journal of comparative economics (Print), 43(1), 227-239. More information
Stephan, A. (2014). Are public research spin-offs more innovative? Small Business Economics, 43(2), 353-368. More information
Kokert, M., Schäfer, D., Stephan, A. (2014). Niedriger Leitzins: eine Chance in der Euro-Schuldenkrise , 81(7), 115-126 Berlin . More information
Kokert, M., Schäfer, D., Stephan, A. (2014). Low Base Interest Rates: An Opportunity in the Euro Debt Crisis DIW Economic Bulletin, 4(5), 1-13. More information
Kappeler, A., Solé-Ollé, A., Stephan, A., Välilä, T. (2013). Does fiscal decentralization foster regional investment in productive infrastructure? European Journal of Political Economy, 31, 15-25. More information
Gammelgard, J., McDonald, F., Stephan, A., Tüselmann, H., Dörrenbächer, C. (2012). Characteristics of Low-Autonomy Foreign Subsidiaries: Value Chains, Staffing, and Intra-Organizational Relationships Journal of International Business and Economics, 13(1), 65-95. More information
Stephan, A., Tsapin, A., Talavera, O. (2012). Main Bank Power, Switching Costs, and Firm Performance: Theory and Evidence from Ukraine Emerging markets finance & trade, 48(2), 76-93. More information
Barasinska, N., Schäfer, D., Stephan, A. (2012). Individual risk attitudes and the composition of financial portfolios: Evidence from German household portfolios Quarterly Review of Economics and Finance, 52(1), 1-14. More information
Gantumur, T., Stephan, A. (2012). Mergers & acquisitions and innovation performance in the telecommunications equipment industry Industrial and Corporate Change, 21(2), 277-314. More information
Solé-Ollé, A., Stephan, A., Valilä, T. (2012). Productivity and Financing of Regional Transport Infrastructure Papers in regional science (Print), 91(3), 481-485. More information
Gammelgaard, J., McDonald, F., Stephan, A., Tüselmann, H., Dörrenbächer, C. (2012). The impact of increases in subsidiary autonomy and network relationships on performance International Business Review, 21(6), 1158-1172. More information
Stephan, A. (2011). Locational conditions and firm performance: introduction to the special issue The annals of regional science, 46(3), 487-494. More information
Lejpras, A., Stephan, A. (2011). Locational Conditions, Cooperation, and Innovativeness: Evidence from Research and Company Spin-Offs The annals of regional science, 46(3), 543-575. More information
Stephan, A., Tsapin, A., Talavera, O. (2011). Corporate Debt Maturity Choice in Emerging Financial Markets Quarterly Review of Economics and Finance, 51(2), 141-151. More information
Eickelpasch, A., Lejpras, A., Stephan, A. (2011). Locational and Internal Sources of Firm Competitive Advantage: Applying Porter’s Diamond Model at the Firm Level Journal of Strategic Management Education, 7(2), 1-25. More information
Finger, R., Stephan, A. (2010). Nichtparametrische 2-Stichproben Dispersionstests Wirtschaftswissenschaftliches Studium, 39(5), 254-256. More information
Stephan, A., Weiss, J. (2010). Regionale Innovationspolitik: Konzentration auf Hightech kann in die Irre führen Wochenbericht des DIW Berlin, 77(29), 8-11 Berlin: DIW Berlin . More information
Gammelgaard, J., McDonald, F., Tüselmann, H., Dörrenbächer, C., Stephan, A. (2009). Subsidiary Role and Skilled Labour Effects in Small Developed Countries Management International Review, 49, 27-42. More information
Barasinska, N., Schäfer, D., Stephan, A. (2009). Private Households Display Strong Aversion to Investment Risk DIW Berlin Weekly Report, 5(2), 13-18. More information
Baum, C., Stephan, A., Talavera, O. (2009). The Effects of Uncertainty on the Leverage of Non-Financial Firms Economic Inquiry, 47(2), 216-225. More information
Heilemann, F., Stephan, A., Badunenko, O. (2009). Anreizregulierung mittels stochastischer Frontier Analyse - Potenzial fuer Fehleinschätzungen in Milliardenhöhe Energiewirtschaftliche Tagesfragen, 66-71 Duisburg: WAZ Druck . More information
Badunenko, O., Fritsch, M., Stephan, A. (2008). Allocative Efficiency Measurement Revisited: Do We Really Need Input Prices? Economic Modelling, 25(5), 1093-1109. More information
Baczko, T., Eickelpasch, A., Lejpras, A., Stephan, A. (2008). Location Conditions in East Germany and in Poland from the Point of View of the Companies DIW: Weekly Report, 4(3), 14-20. More information
Stephan, A., Barasinska, N., Schäfer, D. (2008). Hohe Risikoaversion privater Haushalte bei Geldanlagen Wochenbericht, 75(45), 704-710 Berlin: DIW . More information
Stephan, A., Tsapin, A. (2008). Persistence and Determinants of Firm Profit in Emerging Markets Applied Economics Quarterly, 54(4), 231-253. More information
Geppert, K., Stephan, A. (2008). Regional Disparities in the European Union: Convergence and Agglomeration Papers in regional science (Print), 87(2), 193-217. More information
Baczko, T., Eickelpasch, A., Lejpras, A., Stephan, A. (2008). Standortbedingungen in Ostdeutschland und Polen aus Sicht der Unternehmen DIW Wochenbericht, 75(9), 91-98. More information
Finger, R., Stephan, A. (2008). Robuste Methoden in der linearen Regressionsanalyse Wirtschaftswissenschaftliches Studium (WiSt), Oktober(10), 555-557. More information
Baum, C., Caglayan, M., Stephan, A., Talavera, O. (2008). Uncertainty Determinants of Corporate Liquidity Economic Modelling, 25(5), 833-849. More information
Bitzer, J., Stephan, A. (2007). A Schumpeter-inspired Approach to the Construction of R&D Capital Stocks Applied Economics, 39(2), 179-189. More information
Fritsch, M., Stephan, A. (2007). Die Heterogenität der Effizienz innerhalb von Branchen: eine Auswertung von Unternehmensdaten der Kostenstrukturerhebung im Verarbeitenden Gewerbe Quarterly Journal of Economic Research (Vierteljahrshefte zur Wirtschaftsforschung), 76(3), 59-75. More information
Höhne, M., Kampe, C., Lejpras, A., Stephan, A. (2007). Beschäftigungsprognosen auf Basis amtlicher Firmendaten als Instrument einer handlungsorientierten Politikberatung am Beispiel Brandenburg Quarterly Journal of Economic Research, 76(3), 88-112. More information
Stephan, A. (2007). Der Nutzen von Firmendaten für die wirtschaftspolitische Beratung Quarterly Journal of Economic Research (Vierteljahrshefte zur Wirtschaftsforschung), 76(3), 5-7. More information
Husmann, S., Stephan, A. (2007). On Estimating an Asset's Implicit Beta Journal of futures markets, 27(10), 961-979. More information
Stephan, A. (2007). Zur Politischen Ökonomie öffentlicher Infrastrukturausgaben Perspektiven der Wirtschaftspolitik, 8(suppl.), 116-132. More information
Cadot, O., Röller, L., Stephan, A. (2006). Contribution to Productivity or Pork Barrel?: The Two Faces of Infrastructure Investment Journal of Public Economics, 90(6-7), 1133-1153. More information
Pohlmann, T., Stephan, A. (2006). Forschung und Entwicklung in den Wirtschaftssektoren Großbritanniens und Deutschlands DIW Wochenbericht, 79(9), 109-113. More information
Fritsch, M., Stephan, A. (2006). Measuring Performance Heterogeneity Within Groups: A Two-Dimensional Approach Applied Economics Letters, 13(1), 17-20. More information
Brueck, T., Stephan, A. (2006). Do Eurozone Countries Cheat with their Budget Deficit Forecasts? Kyklos (Basel), 59(1), 17-29. More information
Fritsch, M., Stephan, A., Werwatz, A. (2005). Regional Innovation Policy (Editorial) European Planning Studies, 13(4), 1123-. More information
Fritsch, M., Stephan, A., Werwatz, A. (2005). Regionalisierte Innovationspolitik sinnvoll DIW Wochenbericht, 71(27), 383-386. More information
Fritsch, M., Stephan, A. (2005). Regionalization of Innovation Policy: Introduction to the special issue Research Policy, 34(8), 1123-1127. More information
Görzig, B., Kaminiarz, A., Stephan, A. (2005). Wie wirkt sich Outsourcing auf den Unternehmenserfolg aus?: Neue Evidenz Schmollers Jahrbuch (Journal of Applied Social Science Studies), 125(4), 489-507. More information
Frank, B., Kemfert, C., Stephan, A. (2004). Die Bedeutung der Juniorprofessur für den Wissenschaftsstandort Deutschland DIW Wochenbericht, 71(39), 567-574. More information
Geppert, K., Gornig, M., Stephan, A. (2004). Regional Productivity Differences: Theoretical Predictions and Empirical Evidence from Western Europe Italian Journal of Regional Science, 41-64. More information
Görzig, B., Fritsch, M., Hennchen, O., Stephan, A. (2004). Cost Structure Surveys for Germany Schmollers Jahrbuch/ Journal of Applied Social Science Studies, 124(4), 557-566. More information
Soete, B., Stephan, A. (2004). Introduction: Entrepreneurship, Innovation and Growth Industry and Innovation, 11(3), 161-165. More information
Soete, B., Stephan, A. (2003). Nachhaltiges Wachstum durch Innovationen: Die Rolle von kleineren und mittleren Unternehmen DIW Wochenbericht, 70(38), 569-573 Berlin: DIW . More information
Görzig, B., Hennchen, O., Stephan, A. (2003). Produktionsauslagerung und Unternehmenserfolg Wirtschaft und Statistik, 702-707. More information
Stephan, A. (2003). Assessing the Contribution of Public Capital to Private Production: Evidence from the German Manufacturing Sector International review of applied economics, 17(4), 399-418. More information
Kemmerling, A., Stephan, A. (2002). The Contribution of Local Public Infrastructure to Private Productivity and its Political Economy: Evidence from a Panel of Large German Cities Public Choice, 113(3-4), 403-424. More information
Belitz, H., Fleischer, F., Stephan, A. (2001). Staatliche Förderung von Forschung und Entwicklung in der ostdeutschen Wirtschaft: eine Bilanz DIW Wochenbericht, 68, 537-544. More information
Stephan, A. (2001). The Contribution of Transport and Human Capital Infrastructure to Local Private Production: A Partial Adjustment Approach Review of Regional Research (Jahrbuch für Regionalwissenschaft), 21(1), 91-108. More information
Stephan, A. (2000). Regional Infrastructure Policy and its Impact on Productivity: A Comparison of Germany and France Applied Economics Quarterly, 46, 327-356. More information
Stephan, A. (1998). Infrastruktur und Wachstum WZB Mitteilungen, 79, 28-31. More information

Doctoral thesis

Stephan, A. (2001). Essays on the Contribution of Public Infrastructure to Private Production and its Political Economy (Doctoral thesis). dissertation.de More information

Book chapter

Stephan, A. (2015). Financial crises and industrial development: The new Swedish model. In: Frank Gerlach, Marc Schietinger, Astrid Ziegler (Ed.), A strong Europe - But only with a strong manufacturing sector: Policy concepts and instruments in ten EU member states (pp. 276 -295). Duesseldorf: Schüren Verlag More information
Mitze, T., Stephan, A. (2015). Simultaneous-equations analysis in regional science and economic geography. In: Charlie Karlsson, Martin Andersson, Therese Norman (Ed.), Handbook of research methods and applications in economic geography (pp. 158 -171). Cheltenham: Edward Elgar Publishing More information
Kemmerling, A., Stephan, A. (2010). The determinants of regional transport investment across Europe. In: Nuria Bosch / Marta Espasa / Albert Sole Olle (Ed.), The Political Economy of Inter-Regional Fiscal Flows: Measurement, Determinants and Effects on Country Stability (pp. 276 -296). Cheltenham, UK: Edward Elgar More information
Bartkowiak, I., Stephan, A. (2007). Innovationspolitik in Grossbritannien. In: Innovationspolitik: Wie kann Deutschland von anderen lernen? (pp. 103 -119). Marburg: Schüren Verlag More information
Fritsch, M., Stephan, A. (2003). Die Heterogenität der technischen Effizienzen innerhalb von Wirtschaftszweigen: Auswertung auf Grundlage der Kostenstrukturerhebung des Statistischen Bundesamts. In: Analysen zur regionalen Industrieentwicklung: Sonderauswertung einzelbetrieblicher Daten der amtlichen Statistik Berlin: FHTW More information

Review

Stephan, A. (2012). The economics of transport: A theoretical and applied perspective – By Jonathan Cowie, with contributions from Stephen Ison, Tom Rye and Geoff Riddington. More information

Conference paper

Petreski, A., Stephan, A., Österlund, U. (2017). The impact of mandatory amortization of mortgage loans on the housing market. 11th International Conference on Computational and Financial Econometrics (CFE), 2017, London, U.K.. More information
Stephan, A., Petreski, A. (2017). Spatial dimension of the credit risk: spatial filter approach. 6th Malmö Real Estate Research Conference, May 18th - 19th, 2017, Malmö, Sweden. More information
Inwinkl, P., Piwonska, A., Stephan, A. (2012). Corporate governance and information asymmetry in an informational environment context. The Ratio Colloquium for Young Social Scientists 2012 Stockholm, August 9-11, 2012. More information
Inwinkl, P., Piwonska, A., Stephan, A. (2012). Corporate governance and information asymmetry in an informational environment context. 4th Annual Nordic Corporate Governance Network Conference, June 15th 2012, Reykjavik University, Iceland. More information
Inwinkl, P., Stephan, A., Piwonska, A. (2012). Information asymmetry and corporate governance effectiveness - A theoretical framework for comparative studies on corporate governance in EU. 14th Annual Conference on European Integration Swedish Network for European Studies in Economics and Business (SNEE) May 22-25, 2012, Mölle Sweden. More information
Inwinkl, P., Piwonska, A., Stephan, A. (2012). Corporate governance effectiveness and information asymmetry. European Association of Law and Economics 29th Annual Conference Stockholm, September 2012. More information
Stephan, A., Tsapin, A., Talavera, O. (2009). Main bank power, switching costs, and firm performance. Conferences on Intelligent Computer Mathematics CICM 2009, 6 July - 12 July 2009, Grand Bend Ontario Canada. More information
Gammelgard, J., Stephan, A., McDonald, F., Tueselmann, H., Doerrenbacher, C. (2009). The impact of changes in subsidiary autonomy and network relationships on performance. 35th EIBA conference, Valencia, Spain, December 13-15, 2009. More information
Stephan, A. (2009). The role of local milieu for innovations and internationalization of firms: Evidence from East Germany. 12th Uddevalla Symposium in Bari, Italy. More information
Kemmerling, A., Stephan, A. (2008). The Determinants and Productivity of Regional Transport Investment in Europe. Jahrestagung 2008 des Vereins für Socialpolitik Gesellschaft für Wirtschafts- und Sozialwissenschaften, Graz, Österreich 23-26 September 2008. More information
Stephan, A., Zhang, Z. (2004). Cost Structure, Market Structure And Outsourcing. Jahrestagung 2008 des Vereins für Socialpolitik Gesellschaft für Wirtschafts- und Sozialwissenschaften, Graz, Österreich 23-26 September 2008. More information

Other publications

Kappeler, A., Solé Ollé, A., Stephan, A., Valilä, T. (2012). Fiskal-Föderalismus und regionale Infrastrukturinvestitionen. Zuerich, Switzerland More information
Manduchi, A., Petreski, A., Stephan, A. . Market for Apartment Swap and Rental Market. More information
Mutarindwa, S., Schäfer, D., Stephan, A. . The impact of institutions and supervisory guidance on bank governance and stability: Evidence from African countries. More information

Report

Petreski, A., Schäfer, D., Stephan, A. (2022). Green bonds’ reputation effect and its impact on the financing costs of the real estate sector. More information
Lööf, H., Sahamkhadam, M., Stephan, A. (2021). Is Corporate Social Responsibility investing a free lunch? The relationship between ESG, tail risk, and upside potential of stocks before and during the COVID-19 crisis. More information
Baum, C., Lööf, H., Stephan, A. (2020). Occupational sorting and wage gaps of refugees. London: Centre for Economic Policy Research More information
Sahamkhadam, M., Stephan, A., Östermark, R. (2020). Copula-based Black-Litterman portfolio optimization. More information
Mutarindwa, S., Schäfer, D., Stephan, A. (2020). Legal History, Institutions and Banking System Development in Africa. Essen: Global Labor Organization (GLO) More information
Gustafsson, A., Stephan, A. (2019). Does the countryside lack cash (funding)?: The impact of public bank loans on firm growth and its dependence on location. Östersund: The Swedish Agency for Growth Policy Analysis More information
Lööf, H., Stephan, A. (2019). The Impact of ESG on Stocks’ Downside Risk and Risk Adjusted Return. Östersund: Myndigheten för tillväxtpolitiska utvärderingar och analyser More information
Gustafsson, A., Manduchi, A., Stephan, A. (2019). Do local bank branches reduce SME credit constraints? Evidence from public-private bank interaction. More information
Baum, C., Lööf, H., Perez, L., Stephan, A. (2018). Offshoring and Innovation Capabilities: Evidence from Swedish Manufacturing. Stockholm: CESIS, Royal Institute of Technology More information
Baum, C., Lööf, H., Stephan, A., Viklund-Ros, I. (2018). Outside Board Directors and Start-Up Firms’ Innovation. Stockholm: CESIS, Royal Institute of Technology More information
Lööf, H., Stephan, A., Wulandari, F. (2018). New ventures in Cleantech: opportunities, capabilities and innovation outcomes. Stockholm: CESIS, Royal Institute of Technology More information
Wulandari, F., Schäfer, D., Stephan, A., Sun, C. (2018). Liquidity risk and yield spreads of green bonds. Berlin: DIW Berlin, German Institute for Economic Research More information
Mutarindwa, S., Schäfer, D., Stephan, A. (2018). The Impact of Institutions on Bank Governance and Stability: Evidence from African Countries. Berlin: DIW More information
Schäfer, D., Stephan, A., Khanh, T. (2017). The cost channel effect of monetary transmission: How effective is the ECB's low interest rate policy for increasing inflation?. Berlin: DIW Berlin, German Institute for Economic Research More information
Reifner, U. Neuberger, D. Clerc-Renaud, S. Zakaria, I. Schwizer, P. Nastansky, A. , ... Rissi R. (2016). Study on the remuneration provisions applicable to credit institutions and investment firms: Final Report. Hamburg: Institut für Finanzdienstleistungen More information
Schäfer, D., Stephan, A., Solórzano Mosquera, J. (2015). Innovation Capabilities and Financing Constraints of Family Firms. Berlin: DIW More information
Eickelpasch, A., Hirte, G., Stephan, A. (2015). Firms' evaluation of location quality: Evidence from East Germany. Berlin: DIW Berlin More information
Baum, C., Lööf, H., Nabavi, P., Stephan, A. (2015). A New Approach to Estimation of the R&D-Innovation-Productivity Relationship. Stockholm: KTH Royal Institute of Technology More information
Baum, C., Karpava, M., Schäfer, D., Stephan, A. (2014). Credit Rating Agency Downgrades and the Eurozone Sovereign Debt Crises. Berlin: DIW More information
Baum, C., Karpava, M., Schäfer, D., Stephan, A. (2014). Credit rating agency downgrades and the Eurozone sovereign debt crises. Warsaw: Economic Institute More information
Hirte, G., Stephan, A. (2014). Regionale Beschäftigungswirkungen von öffentlichen Investitionen in Strassen- und Schieneninfrastruktur. Dresden More information
Ghosal, V., Stephan, A., Weiss, J. (2014). Decentralized Regulation, Environmental Efficiency and Productivity. More information
Baum, C., Karpava, M., Schäfer, D., Stephan, A. (2013). Credit rating agency announcements and the Eurozone sovereign debt crisis. Berlin: DIW Berlin More information
Stephan, A. (2012). Are Research Spin-Offs More Innovative? Evidence from a Matching Analysis. Stockholm: KTH Royal Institute of Technology More information
Gantumur, T., Stephan, A. (2010). Do External Technology Acquisitions Matter For Innovative Efficiency and Productivity?. Stockholm: Royal Institute of Technology, CESIS More information
Eickelpasch, A., Lejpras, A., Stephan, A. (2010). Locational and Internal Sources of Firm Competitive Advantage: Applying Porter’s Diamond Model at the Firm Level. Jönköping More information
Lejpras, A., Stephan, A., Bartkowiak, I., Kampe, C., Höhne, M., Weiss, J. (2010). Innovationspotenzialanalyse: Stadt Luckenwalde. Berlin: DIW Berlin More information
Stephan, A., Tsapin, A., Talavera, O. (2009). Why Do Firms Switch Their Main Bank? Theory and Evidence from Ukraine. Berlin: DIW More information
Lejpras, A., Stephan, A. (2008). Locational Conditions, Cooperation, and Innovativeness: Evidence from Research and Company Spin-Offs. Berlin: DIW More information
Stephan, A., Talavera, O., Tsapin, A. (2008). Corporate Debt Maturity Choice in Transition Financial Markets. Stockholm: Royal Institute of Technology, CESIS More information
Barasinska, N., Schäfer, D., Stephan, A. (2008). Financial Risk Aversion and Household Asset Diversification. Berlin: DIW More information
Kemmerling, A., Stephan, A. (2008). The politico-economic determinants and productivity effects of regional transport investment in Europe. Luxembourg: EIB More information
Badunenko, O., Fritsch, M., Stephan, A. (2008). What Drives the Productive Efficiency of a Firm?: the importance of industry, location, R&D, and size. Berlin: DIW More information
Badunenko, O., Fritsch, M., Stephan, A. (2008). What Drives the Productive Efficiency of a Firm?: the importance of industry, location, R&D, and size. Stockholm: Royal Institute of Technology, CESIS More information
Eickelpasch, A., Lejpras, A., Stephan, A. (2007). Hard and Soft Locational Factors, Innovativeness and Firm Performance: An Empirical Test of Porter's Diamond Model at the Micro-Level. Berling: DIW More information
Gantumur, T., Stephan, A. (2007). Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry. Berlin: DIW More information
Vecchi, M., Stephan, A., Barrel, R., Becker, B., Schmidt-Ehmcke, J. (2007). The Determinants of Investment in Industrial Research and Development in the United Kingdom and in Germany. Berlin: Anglo-German Foundation More information
Stäglin, R., Pfeiffer, I., Stephan, A. (2006). Die Bedeutung der Belastung der Wirtschaft durch amtliche Statistiken. Berlin: DIW More information
Rammer, C., Stephan, A., Penzkofer, H., Grenzmann, C. (2004). FuE- und Innovationsverhalten von KMU und Grossunternehmen unter dem Einfluss der Konjunktur. Berlin: BMBF More information
Fritsch, M., Stephan, A. (2004). What Causes Cross-Industry Differences of Technical Efficiency?: An Empirical Investigation. Berlin: DIW More information
Fritsch, A., Stephan, A. (2004). The Distribution and Heterogeneity of Technical Efficiency within Industries: An Empirical Assessment. Berlin: DIW More information
Geppert, K., Gornig, M., Stephan, A. (2003). Productivity Differences in the European Union: National, Regional and Spatial Effects. Berlin: German Institute for Economic Research More information
Görzig, B., Stephan, A. (2002). Outsourcing and Firm-level Performance. Berlin: DIW More information
Kemmerling, A., Stephan, A. (2000). Political Economy of Infrastructure Investment Allocation: Evidence from a Panel of Large German Cities. Berlin: Wissenschaftszentrum More information
Kemmerling, A., Stephan, A. (2000). Political Economy of Infrastructure Investment Allocation: Evidence from a Panel of Large German Cities. More information
Cadot, O., Röller, L., Stephan, A. (1999). A Political Economy Model of Infrastructure Allocation: An Empirical Assessment. London: Centre for Economic Policy Research More information
Stephan, A. (1997). The Impact of Road Infrastructure on Productivity and Growth: Some Preliminary Results for the German Manufacturing Sector. Berlin: Wissenschaftszentrum More information
Stephan, A. (1997). The Impact of Road Infrastructure on Productivity and Growth: Some Preliminary Results for the German Manufacturing Sector. More information

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(2012). Special issue of Papers in Regional Science: Productivity and Financing of Regional Transport Infrastructure. More information
(2011). Special issue: Locational conditions and firm performance. Berlin: Springer More information
(2007). Firmendaten: Nuetzlich fuer die wissenschaftliche Politikberatung?. Berlin: Duncker & Humblot More information
(2005). European Planning Studies Vol. 13 Issue 4: Regional Innovation Policy. More information
(2005). Research Policy Vol. 34 Issue 8: Regionalization of Innovation Policy. Amsterdam: Elsevier More information
(2004). Industry and Innovation Vol. 11 Issue 3: Entrepreneurship, Innovation and Growth. More information