This paper examines the evidence on the clustering of innovators within the telecommunications sector, using U.S. patent citation data to trace their locations over time. While clustering is clearly evident, we use multivariate left-censored Tobit regression analysis to control for identifiable...

This paper examines the location of innovations within green technology, using U.S. patent citation data to trace their inter-generational knowledge flows over time. Clustering is clearly evident, and we use multivariate left-censored Tobit regression analysis to control for identifiable...

This paper examines the location of innovations within solar technology, using U.S. patent citation data to trace their diffusion over time. Knowledge clustering is clearly present. We employ multivariate left-censored Tobit regression analysis to control for identifiable factors, to examine...

Using over 200,000 U.S. patent citations, we test whether knowledge transfers in the transportation sector are sensitive to distance, and whether that sensitivity has changed over time. Controlling for self-citation by inventor, assignee and examiner, multivariate regression analysis shows that...

This paper examines the location of innovations within pharmaceutical technology, using U.S. patent citation data to trace the knowledge flows over time. It is clear that knowledge clustering is certainly present. Our study utilizes multivariate left-censored Tobit regression analysis to control...

This series on the theory of financial management offers insight into the roles of stockholder wealth maximization, the risk-return tradeoff, and agency conflicts as they apply to major topics in finance. The current article investigates capital budgeting. Much literature addresses this topic,...

This paper evaluates the contribution of patent-related events to changes in stock prices, proposing that economics has traditionally failed to find much effect for two reasons which we identify and correct. First, patents vary widely in quality so we use quantile analysis and alternative...

There are two counter-intuitive trends in technological collaboration currently at work, making collaborative patent applications less common but where they exist, the collaborations involve more partners. Patent data are used to examine these trends along with the impact of two recent policy...

This paper considers the challenges to the dissemination of environmental innovation. Following a brief exploration of the legal and regulatory regimes surrounding environmental technologies, the paper examines diffusion mechanisms, market factors, social characteristics and political elements...

Executive Summary: In an effort to explore the potential for financing environmental innovation, this paper examines different forms of financing and attempts to evaluate their effectiveness. The study considers both public and private forms of funding as well as providing policy suggestions for...