We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

The study assesses net employment effects of technical progress which can be expected by the ongoing transition from end-of-pipe technologies towards cleaner production. Empirical evidence is presented on the basis of case studies and panel data including a telephone survey in German industry....