To examine the drivers of innovation, this paper studies the global R and D effort to fight the deadliest diseases and … and innovation can be very large, as demonstrated by aggregate flow of clinical trials increasing by 38% in 2020, with …, while economists are naturally in favor of market size as a driving force for innovation (i.e.'if the market size is …

The paper analyses the effect of the stock market on firm innovation through the lens of initial public offering (IPO … firm innovation activity. In addition, IPOs expand a firm's scope of innovation beyond its core business. The impact of … IPOs on firm innovation varies across financial constraints, corporate governance, and ownership structures. Our results …

inequality are characterized by dynamism-a drive toward sophisticated export industries, innovation, and creative destruction and …

traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation …, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by … recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain …

story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn …

portfolio strategy, on firms' innovation activities and innovation strategies. Relying on plausibly exogenous variation in … institutional ownership, while firms' countable innovation activities increase, they shift their innovation strategies by focusing … institutional investors through active votes could explain their positive effects on firms' innovation activities. Increasing risk …

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to …

&D), which are endogenized through financial institutions. The theory and its results shed lights on the debate of convergence …