Despite a longstanding debate over the pros and cons of imposing legal liability on directors and officers (D&Os), how D&O liability affects corporate innovation is rarely studied. We study this question by exploiting Nevada's 2001 corporate law change that dramatically lowered D&O legal...

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation that exploits personnel scarcity in post-grant...

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation that exploits personnel scarcity in post-grant...

We analyse the hitherto unexplored relationship between intra-firm conflict between the research and development (R&D) department and central management, conflict alleviation and the choice of ‘open’ versus ‘closed’ innovation, in the context of a simple formal model. We find that in the...

While more innovation is the main theoretical benefit of patent protection, some have argued an increasingly swamped U.S. Patent Office has granted many patents with negligible innovation value. I test this argument and determine the characteristics of patents that lack innovation value by...

The US Supreme Court’s decision in Graham v. John Deere (1966) placed neoclassical economic insights at the heart of modern patent law. But economic theory has moved on. Since the 1990s, legal scholars have repeatedly mined the discipline to propose ad hoc rules for individual industries like...

Herein I outline an alternative theory of contract and contract enforcement. This theory is based upon two claims, one positive and one normative. The first claim is that incomplete contracting theory fails to explain how economic actors govern production in the new economy. Theories of...

This paper posits that firms' corporate and technological diversification profiles and their relatedness in terms of products and technologies impact their propensity to form alliances for exploitation and exploration. The empirical investigation employs a dataset of all tire producers worldwide...

This paper introduces the evolving understanding and conceptualization of innovation process models. We categorize the different approaches to understand and model innovation processes into two types. First, the so-called innovation management approach focuses on the evolution of corporate...

This study answers the question on whether areas of agglomeration or high industry specialization constitute supportive prone-to-innovation environments for the generation of radical innovation. By drawing on the CIS distinction between incremental vs radical innovation, we disentangle the...