competition on R&D to the cost of innovation. The effect of competition on R&D is an inverted U-shape. However, the shape is … flatter and competition policy is therefore less relevant for innovation when innovations are relatively costly. Intuitively …, if innovations are costly for a firm, competitive shocks have to be significant to alter its innovation decisions …

investigations that have focused on the relationship between innovation and employment, the originality of our approach lies in our …-creating potential of firms of different sizes. As a result, we focus on the effect of innovation on total number of jobs, whereas … previous studies have focused on the effect of innovation on firm behavior. Indeed, previous studies have typically taken the …

How do financial markets respond to firms' efforts at innovation ? To answer this question, we measure innovation by …. Whilst standard regression techniques find a positive relationship between innovation and growth, quantile regression … and show that these firms owe a lot of their success to their previous efforts at innovation. However, there are also …

Innovation is commonly seen as the principal engine of economic development. In this paper, we investigate the … microfoundations of economic growth by relating innovation to sales growth at the firm-level, for incumbent firms in four «complex …