size composition of firms changes, how innovation patterns (patents) change, as well as locational decisions of firms (NJ … observation, and that the growth advantage of small pharma firms increases after the 1980's as the process of innovation becomes … more "guided" and scale intensive and as small firm innovation becomes more "persistent". Furthermore, at the end of the …

characterized by higher IR due to how innovation activity affects the uncertainty of expected future profits. While the industry …