generate sales that are nearly 30% higher and are sold by higher quality sellers. The market design implication is that …

We examine six molecules facing initial loss of US exclusivity (LOE, from patent expiration or challenges) between June … total molecule sales (brand plus generic) following LOE is an increasingly common phenomenon compared with earlier eras. The …

ownership and the stock returns of acquiring firms in corporate control transactions. At low levels of managerial ownership … acquisition premium. At sufficiently high levels of managerial ownership, managers value a reduction in the risk of their … nondiversified financial portfolio. However, managers enjoy nonassignable private benefits of control at high levels of ownership …

We determine firms' equity ownership structures and provide a theory of hostile takeovers by distinguishing the roles …-cost free' capital is scarce. We investigate the allocation of this scarce resource. A hostile takeover is the consequence of a …. Institutional investors instead are either permanent blockholding monitors or facilitate takeovers by selling blocks to rich …

larger in size (measured as sales, total assets and employment), relative to matched non-acquired U.S. firms before the … acquisition year. In the years following the acquisition, sales and employment decline while profitability rises, suggesting …

to the "Eco-Patent Commons", which provides royalty-free access to third parties to patented climate change related …

Can patent protection and product market competition complement each other in enhancing incentives to innovate? In this … product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … positively to the product market reform in industries of countries where patent rights are strong, not where these are weak. The …

existence of strong patent laws encourage innovation? And 2) May patent laws influence the direction - as opposed to the rate … to address problems with the current patent system: 3) How do patent pools, as a mechanism to mitigate litigation risks …

Patent pools, which allow competing firms to combine their patents, have emerged as a prominent mechanism to resolve …

after the end of the process and fully exploit their bargaining leverage, then patent holders aspire to disclose always … after the end of the process. However, if a patent holder cannot rely on the other participants to always contribute to the … cross-licensing agreements that eliminate the strategic aspect of patent disclosure, and show that, in an institutional …