Knowledge spillovers to competitors are regarded as an important aspect of the innovation process. While a company … leakage of knowledge in an industry will negatively affect profitability. This paper presents the results of an empirical …

environment and asks how local knowledge spillovers affect firms' innovation persistence. The empirical analysis draws upon a … bands show that the strength of knowledge spillovers that contribute to innovation persistence via true state dependence …Recent empirical evidence has shown that firm's innovation behavior exhibits high persistency but not much is known …