Ordinary least squares (OLS) estimates are frequently used to measure the effects of managerial incentives on corporate innovation. However, these estimates suffer from two data problems. First, corporate innovation data have a discrete spike at zero because many firms never engage in corporate...

A majority of existing empirical studies report different relation between ownership and firm value using different sets of cross-sectional data. In this paper, we re-estimate the relation between management ownership and firm value after controlling for the history of management ownership as...