Investment in R&D is positively associated with the variance of sales growth and, to a lesser extent, employment growth. The magnitude of this effect has not increased in recent decades, however.

We construct a new database by matching firm-level Compustat data to NBER patent data, for four 2-digit complex technology sectors. Whilst conventional regression estimators show that the stock market does recognise efforts at innovation, quantile regression analysis adds a new dimension to the...

We construct a new database by matching firm-level Compustat data to NBER patent data, for four 2-digit complex technology sectors. Whilst conventional regression estimators show that the stock market does recognise efforts at innovation, quantile regression analysis adds a new dimension to the...

While Gibrat's Law assumes that growth rate variance is independent of size, empirical work has usually found a negative relationship between growth rate variance and firm growth. Using data on French manufacturing firms, we observe a relatively low, but statistically significant, negative...

While Gibrat's Law assumes that growth rate variance is independent of size, empirical work has usually found a negative relationship between growth rate variance and firm growth. Using data on French manufacturing firms, we observe a relatively low, but statistically significant, negative...

We study collusion between price discriminating firms which are asymmetrically located in a linear city. We obtain that higher distance increases the sustainability of the collusive agreement for any degree of spatial asymmetry, and more spatial symmetry between firms increases collusion...

We use a differentiated duopoly a la Hotelling to assess the impact of firms' symmetry on the sustainability of a tacit collusive agreement. We obtain that the smaller firm has the greater incentive to deviate and that symmetry helps collusion for any possible differentiation degree.

We study the impact of product differentiation on collusion sustainability in the case of imperfect price discrimination and inelastic demand functions. We show that differentiation facilitates the sustainability of collusion. Therefore, the indifference result of Gupta and Venkatu (2002) does...

In a market characterized by network externalities, we consider a situation in which an established incumbent faces a new entrant: the differentiation degree chosen by the entrant increases with the network externalities, while the price set by the incumbent initially increases with the network...