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innovation intensity to escape competition. The U-shaped relation is more pronounced in industries where firms compete in …
Persistent link: https://www.econbiz.de/10012890304
Skill biased technical change arrived to Hungary with the transition to market economy. As Hungary integrated into the international economy, technical change progressed much faster in some sectors than in mature market economies. That lead to increasing skill premia, intensive rent sharing, and...
Persistent link: https://www.econbiz.de/10003919812
This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other executives, are associated with a higher level of patent...
Persistent link: https://www.econbiz.de/10012855711
In the past decades the role of profit sharing schemes (PSS) as a way to foster innovation in a principal-agent context …
Persistent link: https://www.econbiz.de/10010483411
Persistent link: https://www.econbiz.de/10009129992
This paper investigates the effect of superstar CEOs on their competitors. Exploiting shocks to CEO status due to prestigious media awards, we document a significant positive stock market performance of competitors of superstar CEOs subsequent to the award. The effect is more pronounced for...
Persistent link: https://www.econbiz.de/10011344197
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...
Persistent link: https://www.econbiz.de/10012927101
Persistent link: https://www.econbiz.de/10003749081
Persistent link: https://www.econbiz.de/10012583583
Using data from the US automobile market, we empirically examine the link between competition and innovation … interesting market to examine the link between competition and innovation. We use firm-level time-series data over a long horizon … relationship is reasonably non-linear; (2) higher market-wide competition results in an increase in patenting, and the relationship …
Persistent link: https://www.econbiz.de/10011342391