Evolutionary approaches of the firm devote a part of their analysis to firm behavior and to some processes acting inside the firm, however the internal workings of firms are, most of the time, not deeply analyzed. In this perspective, this paper attempts to investigate whether " we can drop...

This paper examines the impact of financial constraints on innovation for established firms. We make use of a qualitative indicator of the existence of financial constraints based on firms' own assessment obtained thanks to a French specific survey. Thus, the existence of financial constraints...

Innovation is commonly seeb as the principal engine of economic development. In this paper, we investigate the microfoundations of economic growth by relating innovation to sales growth at the firm-level, for incumbent firms in four "complex technology" sectors. The average firm, which...

This paper examines whether patenting increases the private incentives to innovate in manufacturing. To study this issue, we build a model in which the value of an innovation depends both on the type of innovation implemented (product, process) and on the existence of a patent protection or not....

How do financial markets respond to firms' efforts at innovation ? To answer this question, we mesure innovation by creating a synthetic indicator based on a firm's recent history of R&D expenditure and patent applications. We focus on four 2-digit "complex technology" manufacturing sectors that...