Principle-agent theory suggests managers might under-invest into R&D for reasons of risk tied to project failure, such as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying higher remuneration, power and prestige. Using a sample...

In September 2016, the European Commission (EC) published its proposal for a directive establishing the European Electronic Communications Code (EECC) - with one key aim being the provision of sufficient incentives for infrastructure investments into high-speed communication networks. Based on a...