This paper analyses the determinants of spatial distribution of foreign technological activity across 96 German regions (1996-2009). We identify foreign inventive activity by applying the ‘cross-border-ownership concept’ to transnational patent applications. The descriptive analysis shows...

This paper analyses the determinants of spatial distribution of foreign technological activity across 96 German regions (1996-2009). We identify foreign inventive activity by applying the ‘cross-border-ownership concept’ to transnational patent applications. The descriptive analysis shows...

This paper analyzes the role of absorptive capacity in R&D spillovers through strategic R&D investments in a game-theoretic framework. In the model, a firm's effective R&D is composed of idiosyncratic R&D, which produces its own innovations, and identical R&D, which improves absorptive capacity....

The aim of this paper is to show that innovations are the result of complex interactions between different private and public agents. For that, we identify the nature of the information sources that firms use to produce their innovations and assess the impact of these different sources on the...

The debate in less developed nations over whether to adopt stronger patent protection laws emphasizes the tradeoff between encouraging development of relevant technology through the promise of monopoly profits and discouraging application of existing technology through monopoly control of patent...

The debate in less developed nations over whether to adopt stronger patent protection laws emphasizes the tradeoff between encouraging development of relevant technology through the promise of monopoly profits and discouraging application of existing technology through monopoly control of patent...

We examine the effect of technology spillovers on the duration of executive compensation contracts. We find that in the presence of greater technology spillovers, firms tend to grant longer duration compensation contracts to their executives. This finding is consistent with theoretical...

We analyze 7.7 million patents via textual analysis to develop a novel patent-to-patent measure of innovation similarity among firms. With this measure, we investigate whether stock price movements reveal information about firms' technological connectedness. We find that investors impound...

This paper investigates the predictability of the firm news tone on stock return in Chinese market. We find that the news tone significantly positively predicts the cross-sectional future return in both short and long horizon. Beyond this, we generally find while the online news could predict...

The treatment of foreign investors has been a contentious topic in U.S. entrepreneurship policy in recent years. This paper examines foreign corporate investments in Silicon Valley from a theoretical and empirical perspective. We model a setting where such funding may allow U.S. entrepreneurs to...