firm. This can be interpreted as evidence of knowledge spillover through labor mobility. Strikingly, firms established in …

higher probability of a product innovation; the reverse holds for process innovation. In other words, product innovation … benefits from a wider spectrum of innovator perspectives brought about by foreign influence, while process innovation suffers … from it. The estimated effect for product innovation is modestly large but nevertheless indicates that a host of other …

Radical innovations require risk-taking. However, it is hard to find an objective measure for innovation investments … that would take riskiness into account. In this paper, we investigate how a simple measure of firms’ innovation investments …. We then build a simple model where firms’ innovation activities and firm risk are interrelated. We use the model to …