Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

, organization, research and innovation, we attempt to explain the rise of corporate research. We argue that it was driven by … companies trying to take advantage of opportunities for innovation made possible by scientific advances and an underdeveloped …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

innovation in firms. However, inventions from universities and public research institutes substitute for corporate inventions and …