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Political activism positively affects firm innovation. Firms that support more politicians, politicians on Congressional committees with jurisdictional authority over the firms' industries and politicians who join those committees innovate more. We employ instrumental variables estimation and a...
Persistent link: https://www.econbiz.de/10010501442
We hypothesize that political activism is valuable because it helps reduce political uncertainty, which, in turn, fosters firm innovation. We find that firms that support more politicians, winning politicians, politicians on Congressional committees with jurisdictional authority over the firms'...
Persistent link: https://www.econbiz.de/10012903761
Are CEOs' attitudes and beliefs linked to their firms' innovative performance? This paper uses Malmendier and Tate's measure of over-confidence, based on CEO stock-option exercise, to study the relationship between a CEO's revealed beliefs about future performance and standard measures of...
Persistent link: https://www.econbiz.de/10013069826
We use exogenous variation in the strength of trade secrets protection to show that a relative weakening of patents (compared to trade secrets) has a disproportionately negative effect on the disclosure of processes - inventions that are not otherwise visible to society. We develop a structural...
Persistent link: https://www.econbiz.de/10012060814
Disruptive innovation can be described as the introduction of a new conceptual idea or meme into an existing system that causes the system to be fundamentally altered. Assembly lines, air conditioning, digital film, and personal computers represent such innovations, all of which led to...
Persistent link: https://www.econbiz.de/10014177523
Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...
Persistent link: https://www.econbiz.de/10010341887
Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...
Persistent link: https://www.econbiz.de/10010252810
Several studies have highlighted information and communications technology (ICT) as a driver of firm productivity in developed countries. However, evidence of the impacts of ICT on services and manufacturing, particularly in developing countries, is scarce. This paper analyzes the determinants...
Persistent link: https://www.econbiz.de/10011472357
In October 2013, the European Commission presented a new indicator intended to capture innovation outputs and outcomes and thereby "support policy-makers in establishing new or reinforced actions to remove bottlenecks that prevent innovators from translating ideas into products and services that...
Persistent link: https://www.econbiz.de/10011554649
In October 2013, the European Commission presented a new indicator intended to capture innovation outputs and outcomes and thereby "support policy-makers in establishing new or reinforced actions to remove bottlenecks that prevent innovators from translating ideas into products and services that...
Persistent link: https://www.econbiz.de/10011561185