Aghion, Van Reenen and Zingales (2013) find that institutional ownership causes an increase in innovation as measured … by citation-weighted patent counts. To identify a causal effect, they use membership in the S&P 500 as an instrument for … ownership and innovation is robust in 22% of robustness checks. On average, 2nd stage z-scores were just 42.7% of the original …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to … be due to endogenous selection. -- Career Concerns ; Innovation ; Institutional Ownership ; Productivity and R&D …

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to …

effect on innovation. We develop a simple “trapped factor” model of innovation that is consistent with these empirical …