I study the effects of basic and applied innovation on a firm's market value and total factor productivity for a panel … relevant tails of the generality distribution. I find that the market valuation and productivity effects of basic and applied … the generality distribution are positively (resp. negatively) associated with total factor productivity and productivity …

What factors underlie industry differences in research intensity and productivity growth? We develop a multi … consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect … research cannot account for industry differences in productivity growth rates, and that variation in intertemporal knowledge …