Maliranta, Mika; Määttänen, Niku - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2014
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 …