This paper examines the relationship between university research and development (R&D) activities and the Bayh-Dole Act. This act made it much easier for universities to obtain patents from research funded by the federal government and may have provided universities with an incentive to alter...

This paper examines how executive compensation influences the market value of the firm's assets. After controlling for endogeneity, we find that boards have set the incentive to incur risk (vega) to maximize shareholder value, but that incentives to increase returns (delta) do not maximize...

We use Tobin's q models of investments to estimate the relationship between corporate governance and the level of innovative activity. Simple OLS models suggest that poor governance reduces innovative activity. However, OLS results are sensitive to controlling for serial correlation, unobserved...

The last 7 years has seen a large number of government and semi-government reports on the changing nature of Australia's integration into the international economy. This paper explores their difference but focuses more centrally on their common premises.