that the connection between overconfidence and innovation is more complex than the previous literature suggests. In … innovative activity. While overoptimism leads to an innovation enhancing effect, judgmental overconfidence inhibits innovation …. Our results indicate that future research is well advised to take into account that the relationship between innovation …

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … individual effects and idiosyncratic errors correlated across equations and that differ in the way innovation enters the … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and …

This paper presents a dynamic model of a competitive R&D and production duopoly subject to knowledge spillovers. Two … asymmetric firms operate for a limited period of time and dispose their knowledge capital in the end. Both firms and the social … planner prefer the R&D-cooperative strategy over the competitive one regardless of the intensity of knowledge spillovers …

We construct an asymmetri c duopolistic R&D and production behavior model subject to knowledge spillovers. This model …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …