that managers can engage in real smoothing using derivatives like forward and futures contracts which have a simple product …

생산성갭이 크게 축소된 제조업은 혁신주도형 (innovation-based) 성장전략이 적합하고, 선진국에 비해 생산성 수준이 낮은 서비스업은 투자주도형 (investment-based) 성장전략이 유효함을 시사한다. 한편 … innovation-based strategy is more efficient in manufacturing, given that it is closer to the technological frontier, while an …

paper tried to investigate university research through the window of patent. Patents lie between invention and innovation …

English Abstract: This paper examines how venture capital alters the impact of banking crises on innovation based on … tightening of bank credit and show several findings. First, the banking crisis causes a lower aggregate rate of innovation for at … least five years. Second, the innovation dampening effect of the banking crisis is stronger for industries depending more on …