product development process. HCs do not invest more into innovation, but achieve higher innovation success. The higher …

-in-differences design to causally identify the short-run impact of COVID-19 on innovation spending in 2020 and expected innovation spending … substantially reduced innovation expenditure not only in the first year of the pandemic (2020) but also in the two subsequent years …, indicating ’Long–Covid’ effects on innovation. In 2020, innovation expenditure fell by 4.7 % due to the pandemic. In 2022 …

and on additional innovation and economic activities in Chinese provinces. A panel vector autoregressive (VAR) model and …