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technological innovation and future firm-level R&D expenses, which include the resources used for small-scale experimentation. I … find that rapidly improving investor sentiment strengthens the effect of technological innovation on one-year-ahead R … driven by sentiment proxying for technological innovation or by sentiment and R&D expenses being jointly determined. The …
Persistent link: https://www.econbiz.de/10013016568
This paper examines intentional herding among institutional investors with a particular focus on the technology sector that was the driver of the “New Economy” in the United States during the dot-com bubble of the 1990s. Using data on technology stockholdings of 115 large institutional...
Persistent link: https://www.econbiz.de/10012924888
Because positive spillovers give investment in innovation a social rate of return several times higher than its … internal rate of return to innovators, innovation is chronically underfunded. Recurrent manias, panics, and crashes in stock … innovation, competition at the economy-level may favor institutions and behavioral norms conducive to innovation-related bubbles …
Persistent link: https://www.econbiz.de/10013238426
Marketing is attributed to be the dominant factor for the failure of the successful commercialization of a new product development. However, its funding aspects and the relation with engineering-related efforts such as the technical development and manufacturing is less studied. This report...
Persistent link: https://www.econbiz.de/10012711027
); reduce investment drastically (by 19); and reduce very substantially process innovation and information technology investment …
Persistent link: https://www.econbiz.de/10010746023
We introduce a novel empirical strategy to measure credit shocks. Theoretically, we show that credit shocks reduce the value of long term investments relative to short term ones. Under the (conservative) assumption that demand shocks affect short and long run investments similarly, credit shocks...
Persistent link: https://www.econbiz.de/10010711338
innovation is a crucial productivity driver, a potential crowding out of inventive efforts could increase the cost of mitigating …. However, we do not find negative effects on the number of ongoing R&D projects, investments in innovation-related fixed assets … or on the outcome of innovation projects. Likewise, for firms with subsidy-backed environmental innovations no crowding …
Persistent link: https://www.econbiz.de/10010223567
Policy-makers have become increasingly aware that corporate R&D and innovation are the main drivers of an economy … concludes that policy measures to stimulate corporate R&D and innovation activities should be expressly conceived according to …
Persistent link: https://www.econbiz.de/10011980250
linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its … strength. Past innovation network structures are calculated using citation patterns across technology classes during 1975 … predictive power on future innovation after 1995. This pattern is consistent with the idea that when there is more past upstream …
Persistent link: https://www.econbiz.de/10011557905
In the last decades, innovation activity has been defined by an increasing complexity and a faster pace of the … underlying technological change. Accordingly, several studies have shown that competitive systems of innovation benefit from …
Persistent link: https://www.econbiz.de/10010431699