Existing literature on dual holding exclusively focuses on cases where the holder is primarily a creditor and buys the firm’s stocks to reduce potential wealth transfer. However, wealth transfer is not a concern when the dual holder is a stockholder first and later becomes a bondholder. We...

We find that network centrality is associated with a higher number and better quality of innovation. Network centrality also positively relates to a number of breakthrough innovations, and firms that exert greater influence in the innovative network have higher profitability. Moreover, network...