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...

Recent studies find that idiosyncratic risk (IR) has increased since the 1960's and attribute this to economy wide factors such as the role of the IT revolution. To gain further insights into why IR has increased over time, our paper uses industry level data and firm level data to study if...

Many countries are pursuing innovation-led ‘smart' growth, which requires certain types of long-run strategic investments. This paper argues that such investments require public policies that aim to create markets, rather than just ‘fixing' market failures (or system failures). Such...