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 …

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 …

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