innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …

From a firm’s perspective two competing forces are driving the decision to invest in innovation. On the one hand …, innovative performance is an important driver of profitability and growth. On the other hand, investments in innovation suffer … highlight the trade-off of patenting by setting up a recursive system of equations on knowledge leakage and imitation that …

as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation …