Döttling, Robin; Ladika, Tomislav; Perotti, Enrico C. - 2016
is that the creation of intangibles is largely achieved by human capital investment and requires lower upfront outlays …In response to technological change, U.S. corporations have been investing more in intangible capital. This …. Firms can self-finance the retention of human capital by granting deferred equity compensation. Interestingly, retaining …