The tension between innovation and financialisation is central to the business corporation. Innovation entails a 'retain-and-reinvest' allocation regime that can form a foundation for stable and equitable economic growth. Driven by shareholder-value ideology, financialisation entails a shift to...

The paper studies the dynamics of firm growth and firm size distributions in the pharmaceutical industry from 1950 to 2003 and in the biotechnology industry from the early 1980's to 2003. Growth dynamics are studied in the context of how the size composition of firms changes, how innovation...