Monitoring by institutional investors can act as an important mechanism to promote firm innovation. By investigating … innovation. Consistent with the monitoring view, we further find that (1) the effect of institutional investors on firm patenting … robust when innovation quality is examined. …

otherwise visible to society. We develop a structural model of initial and follow-on innovation to determine the effects of such … a shift in disclosure on overall welfare in industries characterized by cumulative innovation. We find that while … significant decline in follow-on innovation. …

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the … patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation … that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation …

. Where licensing fails, follow-on innovation is blocked unless firms gain FTO through patent invalidation. Using large …We study the blocking effect of patents on follow-on innovation by others. We posit that follow-on innovation requires … freedom to operate (FTO), which firms typically obtain through a license from the patentee holding the original innovation …

. While the individual effects of engaging in the listed practices on firm innovation are well-understood, the existing … sample of innovation-active firms from the German Community Innovation Survey, which includes information on the development … of standards, enhanced with information on firms' engagement in patenting and publishing. We find that 26% of innovation …

to financing constraints, but also do not seem to benefit from a patent quality signal. …

Skilled labor is a key input to the innovation process. A shortage in supply of skilled labor may hence impede … innovation activities, resulting in lower productivity gains. While governments are concerned about these likely negative impacts …, there is only limited empirical evidence whether and to what extent labor shortage affects innovation activities. The paper …

Our study shows empirically that the choice of resource allocation strategy affects innovation performance. A policy of … allocating resources to a broader range of innovation projects increases sales of new products, especially if these are truly … stronger for firms that allocate resources more selectively at later stages of the innovation process. Based on these results …

Innovation activities in the German enterprise sector showed two opposing trends over the past two decades: While total … innovation expenditures grew substantially, the number of firms conducting innovation activities fell sharply. Innovation … expenditures hence concentrate on fewer firms. In this paper we analyse the evolution of firms' innovation and R&D activities …

In October 2013, the European Commission presented a new indicator intended to capture innovation outputs and outcomes … usefulness of the new indicator against the background of the difficulties in measuring innovation outputs and outcomes. We … develop a unique conceptual framework for measuring innovation outcomes that distinguishes structural change and structural …