We present empirical evidence that the establishment of secondary stock exchanges spurs local high-tech entrepreneurship. We find a significant increase in high-tech entrepreneurial activities following the staggered launches of such stock exchanges, and this increase is disproportionally higher...

We identify a positive causal effect of healthy working environments on corporate innovation, using the staggered passage of U.S. state-level smoke-free laws that ban smoking in workplaces. We find a significant increase in patents and patent citations for firms headquartered in states that have...

We examine the effect of pay discrimination on corporate innovation and inventor productivity using difference-in-differences regressions based on the staggered passage of state-level pay secrecy laws that mitigate pay discrimination. We find significant increases in the quantity and quality of...

We compare innovation strategies of public and private firms based on a large sample over the period 1997-2008. We find that public firms' patents rely more on existing knowledge, are more exploitative, and are less likely in new technology classes, while private firms' patents are broader in...

This paper examines two related research questions: (1) Does a firm's innovation strategy affect its going public (vs. staying private) decision? (2) Does the change of ownership associated with going public influence a newly public firm's subsequent innovation strategy? Using a dataset...