This paper examines R&D activities in the European Community using the Community R&D Information Service (CORDIS) databases. We find that a country's private companies tend to be specialized in the same scientific fields as its universities and public organizations. In addition, we construct...

Evidence on the 'funding gap' for R&D is surveyed. The focus is on financial market reasons for underinvestment in R&D that persist even in the absence of externality-induced underinvestment. The conclusions are that 1) small and new innovative firms experience high costs of capital that are...

This paper discusses methods for the harmonization and combination of large-scale patent and trademark datasets with each other and other sources of data. Dictionary- and rule-based approaches to the consolidation of applicant names in patent data are presented and shown to have both benefits...

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...

This paper provides novel empirical evidence on the private value of patents and Ramp;D in European firms during the period 1991-2004. We explore the relationship between firm's stock market value, patents, and quot;qualityquot;-weighted patents issued by the European Patent Office (EPO) and the...

In this paper, we estimate the impact of increasing costs on foreign producers following a withdrawal of the United Kingdom from the European Union (popularly known as Brexit). Our predictions are based on simulations of a multicountry neoclassical growth model that includes multinational firms...

Patent pools allow a group of firms to combine their patents as if they were a single firm. Theoretical models predict that pools encourage innovation in pool technologies, albeit at the cost of innovation in substitutes. Empirical evidence is scarce because modern pools are too recent to allow...

Using data on over 900 firms for the period 1988-2000, we estimate the effect on phase-specific biotech and pharmaceutical R&D success rates of a firm's overall experience, its experience in the relevant therapeutic category; the diversification of its experience, and alliances with large and...

While the variability of public equity financing has been long recognized, its impact on firms has attracted little empirical scrutiny. This paper examines one setting where theory suggests that variations in financing conditions should matter, alliances between small Ramp;D firms and major...

Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents “released” to the market when startups fail. This study provides a first look at the frequency and speed with which patents originating from failed startups are redeployed to...