In their efforts to hold financial institutions accountable after the 2007 financial crisis, U.S. regulators have repeatedly turned to anti-money laundering laws. Initially designed to fight drug cartels and terrorists, these laws have recently yielded billion-dollar fines for all types of bank...

Multinational corporations (MNC) search increasingly for lead market knowledge and technological expertise around the globe. We investigate whether their subsidiaries gain access to these valuable sources of host country knowledge to the same degree as domestic rivals. We develop a theoretical...

This study shows for a large sample of R&D-active manufacturing firms that collaborative R&D has a positive effect on firms' patenting in terms of both quantity and quality. When distinguishing between alliances that aim at joint creation of new knowledge and alliances that aim at exchange of...

Is the phenomenon of multinational firms (MNCs) conducting distributed R&D across emerging markets related to the return migration of engineers and scientists from the U.S. to emerging markets? I hypothesize that local inventors at emerging market R&D centers of MNCs face constraints in securing...

This paper analyzes how standards as a knowledge source are important for R&D, how significantly the (backward) citations by a patent of standard-related documents measure such knowledge flow, and how significantly they affect the performance of downstream R&D. Using both the RIETI inventor...

This paper explores the sources of firm-level scale economies in R&D, based on unique project-level data from a new large-scale survey of Japanese inventors, matched with firmlevel data. We focus on four sources: complementary assets, internal and external knowledge inflows, and inventor team...

Measured by per-capita publication measures, Sweden is an academic powerhouse. Hence, its inability to commercialize on these accomplishments is a puzzle. This paper attributes this failure to the top-down nature of Swedish policies aimed at commercializing these innovations as well as an...

There is growing evidence that firms increasingly adopt open innovation practices. In this paper we investigate the impact of two such external knowledge acquisition strategies, "buy" and "cooperate", on firm's product innovation performance. Taking a direct (productivity) approach, we test for...

Based on data from Germany, this study finds a positive link between using knowledge spillovers from rivals and innovation success in establishments without R&D but not in establishments with R&D. This supports the hypothesis that rivals knowledge is more valuable to establishments that are...

Firms' search for external knowledge is one aspect of knowledge integration in the innovation process. The literature has investigated innovation and the breadth of search in different information channels. We introduce the concept of search balance reflecting the heterogeneity of a firm's...