and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research … governance project. Each of the papers represents state-of-the-art research in an important area of corporate governance research …

Intelligently allocating research effort and funds requires deciding whether to build on recent advances or on more … established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the … invention process promotes technological progress. The gains from pursuing such innovative research paths may, however, be very …

We develop a model of induced innovation where research effort is a function of the death rate, and thus the potential … predictions. First, initial death rates and subsequent research effort should be positively correlated. Second, research effort …

Research productivity depends on the ability to discern whether an idea is promising, and a willingness to abandon the …-prize. Subsidies have a larger impact on research output, though prizes perform better when accounting for researchers' opportunity …

contrast the two sectors along four key dimensions: (1) the nature of research (e.g., basic versus applied); (2) organizational … academic institutions and private firms. Building on prior work that has emphasized different "research missions", we also … examine how the nature of research is related to other characteristics of science within and across the two sectors …