This paper studies the asset pricing implications of technology spillover, an important externality in innovation … variety, such benefits are procyclical, and investors therefore demand higher returns for holding these stocks. Using patent … firms. These findings highlight the importance of innovation externality on stock returns …

-ups with experienced inventors holding a patent at the time of receiving the first round of investment produce the largest …

imitate instead of concurrently investing in innovation, which alleviates competitive pressure. In contrast with the classical …

This paper examines the effect of foreign direct investment (FDI) on domestic innovation based on a data set covering … show that there is a negative horizontal spillover effect of FDI on domestic innovation when the intellectual property … on why developing countries should encourage FDI and strengthen the IPR regime together to enhance domestic innovation …

This paper examines the trends in geographic localization of knowledge spillovers via patent citations, extracting …

This paper examines the trends in geographic localization of knowledge spillovers via patent citations, considering US …

Innovation studies have largely recognized the role of knowledge in fostering innovation and growth of entrants … approach to the analysis of patent text. We explore the empirical relation between pre-entry complexity of knowledge, as …

within them. Our tests show that the localization of knowledge spillovers, as measured via patent citations, is strongest at …

examine the spatial clustering of private R&D labs, and, using patent citations data, we provide evidence of localized …

We employ a unique data set to examine the spatial clustering of private R&D labs, and, using patent citations data, we …