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Existing research on the relationship between market concentration and innovation has produced conflicting findings. In addition, the emerging literature on the relationship between corporate governance and innovation tends to focus only on partial effects of corporate governance on innovation....
Persistent link: https://www.econbiz.de/10013087386
Large corporations dominate economic and social life in the United States and around the globe. The mainstream corporate governance ideology of “shareholder primacy” claims that the exclusive purpose of a corporation is to generate returns for shareholders, which means that governance...
Persistent link: https://www.econbiz.de/10014238594
?s Investment Tests (IT) during the years 1988-1998, we create a panel with information on investment, innovation activity and … financing conditions. Financial constraints affect the distribution of investment over time in a fundamental way. Following a … on Schworm?s (1980) model of optimal investment under financial constraints, we use it to test the empirical content of …
Persistent link: https://www.econbiz.de/10010295647
This paper discusses theoretically the different incentives of managers versus firm owners to invest in innovative activities. There are opposing effects concerning R&D intensity in the manager-controlled firm. Our study on the determinants of R&D intensity presents empirical results concerning...
Persistent link: https://www.econbiz.de/10011445230
When are technological laggards more likely to try to catch up with leaders? We offer empirical evidence on firm-level data of plant investments in the TFT-LCD panel industry, where technological competition has been intense and dynamic. We find that the followers' level of technology has a...
Persistent link: https://www.econbiz.de/10013116928
We develop a model of Ramp;D competition between an incumbent and a potential entrant with network externalities and durable goods. We show that the threat of entry eliminates the commitment problem that an incumbent may face in its Ramp;D decision due to the goods' durability. Moreover, a...
Persistent link: https://www.econbiz.de/10012720951
This paper investigates the impact of the financial crisis on investment decisions in innovative versus non … more likely to suffer from the financial crisis and to reduce their investment expenditures in general. To some extent … investment growth than non-innovative firms. …
Persistent link: https://www.econbiz.de/10011339805
This paper investigates the impact of the financial crisis on investment decisions in innovative versus non … more likely to suffer from the financial crisis and to reduce their investment expenditures in general. To some extent … investment growth than non-innovative firms …
Persistent link: https://www.econbiz.de/10013014643