We examine merging firms' additions and removals of products for a sample of 66 mergers across a wide variety of … firms. Merging firms tend to both drop and add products at the periphery of their joint product portfolios, with the net …

decentralized firms, the ethnic compositions of inventors in satellite locations mostly resemble their host cities, with little link … to the inventor composition of their parent firms' R&D headquarters. For highly centralized firms, by contrast …

domestic markets and foreign opportunities for US firms. In the aggregate, the average annual profitability of US public firms ….4% for firms in the S&P 500 index, which are larger and have more intangible assets created by R&D and SG&A expenditures. In … contrast, following globalization, the average aggregate domestic profitability of US firms remained flat, and firms employed …

allocation. Our evidence suggests that high-productivity firms buy underperforming assets from low-productivity firms and make …

-product firms live forever, and the large firms invest in innovation in order to enlarge their product spans. All firms export. I … show that an increase in the competitiveness of foreign firms can increase or reduce innovation efforts of a large multi …Empirical studies have found that enhanced foreign competition can encourage or discourage innovation. To address this …

from innovation. In this paper, we revisit that question using a nationally representative sample of firms over the period … of the economics of innovation. There are five main findings. First, while patenting firms are relatively uncommon in the …It is more than 25 years since the authors of the Yale and Carnegie surveys studied how firms seek to protect the rents …

This paper models the adoption by established firms of technologies that are internally disruptive in that different … some cases, depending on their ability to impose costs, such firms may be more likely to adopt technologies as a result of …

more than 7 in 2020. While in 1955, profit maximization, market share growth, and customer service were dominant goals …, today almost all companies proclaim social and environmental goals as well. We examine why firms announce goals and when. We … on meeting social and environmental objectives. Firms that announce environmental and social goals tend to implement …

We survey a representative sample of the U.S. population to understand stakeholders' desire to see their firms exit … Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences …

. Firm-level variation in common ownership causes variation in managerial incentives and productivity across firms, which … consistent with empirical evidence. The organizational structure of multiproduct firms and the passivity of common owners … and a difference-in-differences design we document that managerial incentives are less performance-sensitive in firms with …