This paper studies the asset pricing implications of technology spillover, an important externality in innovation … firms. These findings highlight the importance of innovation externality on stock returns …

This paper constructs a theory of industry growth through innovation and selection- driven creative destruction. Firms … adopted, they selectively replace worse ideas. Innovation externalities vary based on firm productivity: ideas generated by … externalities due to the displacement of other firms. Therefore, the net externalities of innovation are heterogeneous, and market …

global drug diffusion and innovation. The pool allows generic firms worldwide to license drug bundles cheaply and …

The importance of innovation for the economic performance of industrialized countries has been largely stressed … innovation, is the key parameter in determining sustained growth in a model with endogenous technological change. This paper … takles the extremely important task of identifying and estimating a; production function; of innovation for European regions …

This paper analyzes the effect of innovation clusters on the adoption of a gen- eral purpose technology (GPT) and on … innovation cluster as a coordination mode of firms, improving the probability of the downstream firm to receive information about … that the effect of innovation clus- ters on the choice of qualities, the adoption behavior, levels of investment in R&D as …

international and domestic knowledge sourcing in energy innovation is still an open question. Recent studies show that a few … innovation dynamics of 18 OECD countries throughout the 1990-2006 period. Our findings show that, after controlling for climate …