" about future performance and standard measures of corporate innovation. We begin by developing a career concern model where … probability of failure, are more likely to pursue innovation, and that this effect is larger in more competitive industries. We …

from innovation. In this paper, we revisit that question using a nationally representative sample of firms over the period … of the economics of innovation. There are five main findings. First, while patenting firms are relatively uncommon in the … differences in the type of R&D or innovation produced by a firm. We also discuss the implications of these findings for innovation …

disaggregates "R" from "D" to study how US firms adjust their innovation investments in response to an external increase in funding …