innovation activities during periods of recession. We empirically analyse what general patterns can be distinguished in this …: some companies have recently reduced their innovation activities significantly, while others maintained them and a third … deceleration of R&D and innovation activities induced by the crisis, but the trend figures remain positive. Driven by the companies …

that of the previous downturn. To control for a possible endogeneity bias as part of innovation decisions a Recursive … considerably less than the performance of non-innovative ones. Changes in the innovation patterns are also observed. Possible …