empirical framework allows for separate treatment of product innovation (vertical differentiation) and diversification …

This paper examines the regulation of technological innovation direction under uncertainty about potential harms. We … in resource allocation across research paths, challenging common intuitions about diversification. These insights have …

various dimensions of upgrading --- learning, quality upgrading, technology adoption, and product innovation. The second part …

This paper examines whether there are complementarities between investments in ICT, R&D and organizational innovation … return of 9.7%, followed by 6% to 7% on organizational innovation and a modest 1.4% to 1.8% on R&D in services and …

Does corporate diversification reduce shareholder value? Since firms endogenously choose to diversify, exogenous … variation in diversification is necessary in order to draw inferences about the causal effect. We examine changes in the within … investment, are negatively related to firm value. Thus diversification destroys value, consistent with the inefficient internal …