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A Synthetic Model of Disruption and Experimentation
Gans, Joshua - National Bureau of Economic Research - 2021
This paper examines how a firm's choice of the type of experiment impacts on its potential exploitation of new technological opportunities. It does so in the context of the failure of successful firms (or disruption) where the literature has informally suggested that firms undertake errors in...
Persistent link: https://www.econbiz.de/10012599381
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Patent Trolls : Evidence from Targeted Firms
Cohen, Lauren - 2014
ability to defend themselves against litigation. We find that NPE litigation has a real negative impact on innovation at … innovation in the industries in which they are most prevalent …
Persistent link: https://www.econbiz.de/10012458295
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To Starve or to Stoke? : Understanding Whether Divestment vs. Investment Can Steer (Green) Innovation
Pless, Jacquelyn - National Bureau of Economic Research - 2023
divestment to combat climate change. Will it work? This chapter explores whether divestment might induce green innovation, a … critical component of transitioning to a cleaner economy. Divestment could theoretically steer innovation by increasing the … investment opportunities. I argue that continuing to invest in dirty industries could drive green innovation conditional on …
Persistent link: https://www.econbiz.de/10014226139
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Does "Grease Money" Speed Up the Wheels of Commerce?
Kaufmann, Daniel - 1999
In an environment in which bureaucratic burden and delay are exogenous, an individual firm may find bribes helpful to reduce the effective red tape it faces. The efficient grease' hypothesis asserts therefore that corruption can improve economic efficiency and that fighting bribery would be...
Persistent link: https://www.econbiz.de/10012471704
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Firms' Inflation Expectations : New Evidence from France
Savignac, Frédérique; Gautier, Erwan; Gorodnichenko, Yuriy - National Bureau of Economic Research - 2021
Using a new survey of firms' inflation expectations in France, we provide novel evidence about the measurement and formation of inflation expectations on the part of firms. First, French firms report inflation expectations with a smaller, but still positive, bias than households and display less...
Persistent link: https://www.econbiz.de/10012660054
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Spillover Effects from Voluntary Employer Minimum Wages
Derenoncourt, Ellora; Noelke, Clemens; Weil, David; … - National Bureau of Economic Research - 2021
Low unionization rates, a falling real federal minimum wage, and outsourcing have hampered wage growth in the low-wage sector in the US. In recent years, a number of private employers have opted to institute or raise company-wide minimum wages for their employees, sometimes in response to public...
Persistent link: https://www.econbiz.de/10012660103
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The Anatomy of Cyber Risk
Jamilov, Rustam; Rey, Hélène; Tahoun, Ahmed - National Bureau of Economic Research - 2021
We construct novel text-based measures of firm-level cyber risk exposure based on quarterly earnings calls of 12,000+ firms from 85 countries over 20+ years. We categorize each cyber-related discussion into topics that capture sentiment, monetary loss, country names, etc. We document new facts...
Persistent link: https://www.econbiz.de/10012585390
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Macro News and Micro News : Complements or Substitutes?
Hirshleifer, David - National Bureau of Economic Research - 2021
We study how the arrival of macro-news affects the stock market's ability to incorporate the information in firm-level earnings announcements. Existing theories suggest that macro and firm-level earnings news are attention substitutes; macro-news announcements crowd out firm-level attention,...
Persistent link: https://www.econbiz.de/10012585415
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Opposing firm-level Responses to the China Shock : Horizontal Competition Versus Vertical Relationships?
Aghion, Philippe; Bergeaud, Antonin; Lequien, Matthieu; … - National Bureau of Economic Research - 2021
information at the firm-level, we show that the horizontal shock is detrimental to firms' sales, employment, and innovation … often not significant - of the vertical shock on firms' sales, employment, and innovation …
Persistent link: https://www.econbiz.de/10012616643
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The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications
Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - National Bureau of Economic Research - 2022
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
Persistent link: https://www.econbiz.de/10013210074