This paper studies how firms' innovation capability is related to their stock performance and eventual survival for a sample of biotech IPO firms. We create product-related measures of firms' innovation capability by tracking the changes in R&D expenses, products, patents, strategic alliances,...

This study investigates why newly listed firms become M&A targets shortly after their initial public offering (IPOs) from the perspective of product innovation. We find strong empirical evidence that IPOs with less established trademarks increase the likelihood of becoming IPO targets. We also...

This research introduces an agent-based simulation model representing the dynamic processes of cooperative R&D in the manufacturing sector of South Korea. Firms' behavior is defined according to empirical findings on the Korean Innovation Survey 2005 and captured in a multivariate probit...

We study how firm innovativeness is related to individual cooperation events and the structure and dynamics of firms’ ego-networks employing a unique panel dataset for the full population of 233 German laser source manufactures between 1990 and 2010. Firm innovativeness is measured by yearly...

Our primary goal is to analyse the drivers of evolutionary network change processes by using a stochastic actor-based simulation approach. We contribute to the literature by combining two unique datasets, concerning the German laser and automotive industry, between 2002 and 2006 to explore...

This paper extends the existing literature on strategic R&D alliances by presenting a model of innovation networks with endogenous absorptive capacity. The networks emerge as a result of bilateral cooperation over time between firms occupying different locations in the knowledge space. Social...

At least since Schumpeter published his work "The Theory of Economic Development" (1912), a wide body of literature has focused on the evolutionary process behind firm growth and survival. Recently a growing interest is devoted to the variable "location" as a critical factor, shaping firm...

Technological progress builds upon itself, with the expansion of invention in one domain propelling future work in linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its strength. Past innovation network structures are...

This paper discusses the technological upgrading of China in photovoltaics technology. It explores the patterns of innovation and network embeddedness and their impact on economic performance at the firm level. Identifying the main innovators over 1995-2014 with patent and market share...

We document a series of new facts about the very first firms and patents that form new edges in the directed citation networks across patent categories. We call them pathfinder firms and patents. First, the typical pathfinder firms are very larger firms. Second, the average pathfinder patents...