effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

between appropriability mechanisms, innovation and firm-level productivity. We enrich this model in several ways. First, we … consider different types of innovation spending and study the differences in estimates when innovation spending (rather than R …&D spending) is used to predict innovation in the CDM model. Second, we assume that a firm simultaneously innovates and chooses …

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to …

underlying quality of the associated innovation(s) will be emphasized, although these are rather rare …