Do political connections affect firm dynamics, innovation, and creative destruction? We study Italian firms and their …: (i) firm-level balance sheet data; (ii) social security data on the universe of workers; (iii) patent data from the … European Patent Office; (iv) the national registry of local politicians; and (v) detailed data on local elections in Italy. We …

quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …We provide evidence on the value of patents to startups by leveraging the random assignment of applications to … examiners with different propensities to grant patents. Using unique data on all first-time applications filed at the U …

We present a model of endogenous firm growth with R&D investment and innovation as the engine of growth. The objective … literature, but also on the literature on patent races and the discrete choice models of product differentiation. We examine to …

We model early expectations about the value and technological importance ('quality') of a patented innovation as a … latent variable common to a set of four indicators: the number of patent claims, forward citations, backward citations and … family size. The model is estimated for four technology areas using a sample of about 8000 U.S. patents applied for during …

fertility of an innovation in generating more innovations cannot be observed. The menu of patent scope can be implemented with …It may be advantageous to provide a variety of kinds of patent protection to heterogenous innovations. Innovations … protection in order to be encouraged. We model the problem of designing an optimal patent menu (scope and length) when the …

motivation for using a market value equation to price knowledge assets is discussed and the theory behind this equation is … briefly presented. Then the empirical literature that relates Tobin's q or the market to book value ratio to R&D and patent … value of the modern manufacturing corporation is strongly related to its knowledge assets, and that patent measures contain …

This paper summarizes a number of studies which use patent data to examine different aspects of technological change … level of patenting; analyzes the relationship between patents, R&D, and tire stock market value of firms; reports on the … estimation of the value of patent rights based on European patent renewal data; and describes the use of patent data to estimate …

While policymakers often assume venture capital has a profound impact on innovation, that premise has not been … address concerns that these results are an artifact of our use of patent counts by demonstrating similar patterns when other … measures of innovation are used in a sample of 530 venture-backed and non-venture-backed firms …

An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … and patents. We document key empirical facts on inventors' productivity over the life cycle, inventors' research teams …, and interactions with other inventors. Among others, most patents are the result of collaborative work. Interactions with …