The architecture of a firm’s network of transactions in its surrounding business ecosystem may affect its innovation performance. Here we proximate a business ecosystem as a transaction network among firms. Specifically, we analyze how the innovation performances of the firms are associated...

Licensed workers could be shielded from unemployment during recession since occupational licensing laws are asymmetric--making unlicensed workers an illegal substitute for licensed workers but not the reverse. We test our hypothesis using a difference-in-differences event study research design...