This paper studies whether the monotonicity condition of the investment-cash flow sensitivity is satisfied empirically. We show that if this condition holds, then the point of sample separation does not affect the monotonic relationship between the sensitivities of any two complementary classes...

This paper analyses the determinants of technological diversification for small innovative companies. Using patent data from the PATSTAT database for the period between 1990 and 2006, we explore technological diversification through a panel data set comprising 811 UK based serial innovators...

Technological diffusion is defined widely as the process by which the market for a new technology changes over time and from which production and usage patterns of new products and production processes result. This chapter looks at both the demand and supply sides of this process at differing...