Although innovation opportunities within the ICT industry are assumed high in comparison with other industries because of their rapidly evolving technological trajectory, little empirical research systematically investigates the distribution of returns to R&D investment across industries and...

Inventions depend on skills, experience, and information exchange. Information is shared among individuals and organizations both intentionally and unintentionally. Unintentional flows of knowledge, or knowledge spillovers, are viewed as an integral element of technological progress. However,...