We study the relationship between patents and actual product innovation in the market, and how this relationship varies … consumer goods sector. We find that patent filings are positively associated with subsequent product innovation by firms, but … at least half of product innovation and growth comes from firms that never patent. We also find that market leaders use …

Studying acquisitions in the US pharmaceutical industry, we first question how the alignment of acquirers’ innovation …-acquisition productivity. We examine two characteristics of productivity – namely whether acquirers’ future innovations are indicative of … acquirer’s inventors’ productivity …