The field of advanced materials (AM) is expected to experience considerable growth and has the potential to make a substantial impact on numerous industries, markets and applications. Much like IT and biotech before it, advanced materials face the many commercialization challenges of...

Whether entrepreneurial firms discover or create opportunities is a classic debate, here explored in the context of disruptive innovations. In this paper we reframe the question to focus not on the nature of entrepreneurial opportunity but on how and for whom entrepreneurs undertake disruptive...

Little attention has been devoted to the question of how late movers overcome first-mover advantage and catch up with incumbents. We examine the role in catch-up of late movers' optimal resource allocation between innovation and imitation. Building on Nelson and Winter's (1982) technology...

We document the decoupling of invention and post-invention investment in the US. Decoupling began in the 1970s as states adopted employment protection laws that increased firing costs and played a significant role in jobless growth, the vertical and geographical fragmentation of firm activities,...