We study the effect of antitakeover provisions (ATPs) on innovation. To establish causality, we use a regression …, causal effect of ATPs on innovation. This positive effect is more pronounced in firms that are subject to a larger degree of … information asymmetry and operate in more competitive product markets. The evidence suggests that ATPs help nurture innovation by …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … innovations. Furthermore, it leads to strategic duplication of the entrant's innovation by the incumbent. These negative … innovation effects of restrictive acquisition policy have to be weighed against the pro-competitive effects of preserving …

We study the effect of analyst coverage on firms' innovation strategy and outcome. By considering three different … negative effect becomes not significant when firms' in-house R&D spending and external innovation channels are taken into … account. We find that more financial analysts encourage firms to make more efficient investments related to innovation, which …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … innovations. Furthermore, it leads to strategic duplication of the entrant's innovation by the incumbent. These negative … innovation effects of restrictive acquisition policy have to be weighed against the pro-competitive effects of preserving …

We investigate how CEO's risk incentive (vega) affects firm innovation. To establish causality, we exploit compensation … identification tests indicate a positive and causal effect of CEOs' vega on innovation activities. Furthermore, dampened managerial … risk-taking incentive after the implementation of FAS 123R leads to a significant reduction in innovation related to firm …