In this paper, we empirically examine how a supplier firm benefits from supply chain technology spillover in its product invention, and how customer concentration mitigates such a positive effect. Using a panel of approximately 1,670 U.S. technology-intensive supplier firms during the period...

We study how incentives to boost short-term performance affect longer-term innovation output. Share repurchases that are motivated by an incentive to meet current-quarter EPS targets are associated with an increase in the quality of innovation outputs such as forward citation counts and the...

We examine how the strengthened legal protection of novel designs prevents mimicking behaviors and thus enhances the economic value of novel designs and their assignees. Using an unexpected decision of the Federal Circuit Court of Appeals, we show that more intricate designs (which were more...

Firms can become less innovative following a sudden “inflow” of cash. Specifically, multinational firms that were eligible to repatriate (and indeed repatriated) cash to the U.S. under the American Jobs Creation Act generate less valuable patents than otherwise similar firms. They also...

Firms often register trademarks as they launch new products or services. We find that the number of new trademark registrations positively predicts firm profitability, stock returns, and underreaction by analysts in their earnings forecasts. Using the Federal Trademark Dilution Act (FTDA) as an...