We examine how existing public firms (“incumbent firms”) respond to the listing delays of their competitors. Using regulation-induced initial public offering (IPO) suspensions in China that expose firms already approved for an IPO to indeterminate listing delays, we find that, in response to...

We examine the effect of a firm's accessibility to the United States Patent and Trademark Office (USPTO), captured by the firm's distance to it, on the materialization of the firm's innovation output. An increase in a firm's distance to the USPTO results in a longer time-to-patent-grant and a...

This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other executives, are associated with a higher level of patent...