We estimate the effect of patent protection on follow-on investments in corporate scientific research. We exploit a new … method for identifying an exogenous reduction in the protection a granted patent provides. Using data on public, research …-active firms between 1990 and 2015, we find that firms decrease follow-on research after a reduction in patent protection, as …

laboratories, hired trained scientists, and embarked upon basic research of the kind we would associate today with academic …, organization, research and innovation, we attempt to explain the rise of corporate research. We argue that it was driven by … academic research system in the United States. Measuring field-specific scientific backwardness in several different ways, we …

Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … also find that the value attributable to scientific research has dropped, whereas the value attributable to technical …