This paper integrates innovation input and output effects of R&D subsidies into a modified Crépon–Duguet–Mairesse (CDM …

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 …

at the intensive margin, i.e. our results do not suggest that non-innovative companies are deterred from innovation …

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 …

Most of the empirical literature on the relationship between firm value and knowledge capital is based on the stock … market valuation. We use a credit rating score as an alternative measure. Innovative firms with a reasonable knowledge stock …