Technology spillovers across firms affect corporate innovation, productivity, and value, according to prior research, so information about technology spillovers should matter to investors. We argue that technology spillovers increase the complexity and uncertainty of value relevant information...

The purpose of this study is to present a unique database on commercialized patents and to illustrate how it can be used to analyze the commercialization process of patents. The dataset is based on a survey of Swedish patents owned by inventors and small firms with a remarkably high response...

With sound framework conditions, fine universities, good infrastructure and policies friendly towards foreign direct investment, Ireland scores high in international innovation scoreboards. Overall, policies to boost innovation and entrepreneurship are on the right track, but investment in...

During the past decade the federal governments of emerging market ‘BRICS’ (Brazil, Russia, India, China, South Africa) nations have determined that the shortest path to an industrialized and innovative economy is via the institutional conversion of privately conceived, developed and...

We propose a theory of rational "Rush", emphasizing the quantity of rational over-investment in contrast to the theory of irrational price "Bubble". We illustrate an important friction when financing breakthrough innovations: non-excludability and spillover of uncertain knowledge due to...

How can law help translate great ideas into great innovations? Venture capital (VC) markets play an increasingly important role in funding innovation, and they have benefitted from substantial public support and subsidy. While venture capital is almost synonymous with innovation, the ability of...

High technology innovators and investors operating in the life sciences, clean energy and information and communication technology sectors face complex economic and legal uncertainties compounded by regulatory and policy risks during the course of guiding an innovative concept from its research...

Financing constraints have been discussed as a major obstacle to innovation. Small and medium-sized enterprises and start-ups are particularly concerned by such impediments. Venture capital has emerged as a partial solution in some countries, but is only available for start-up firms with major...

This paper seeks to understand how motives to patent affect the use of the patent portfolio with a particular focus on motives aimed at the monetization of intellectual property (IP). The analysis relies on data from an international survey conducted by the European Patent Office (EPO). The main...

In this paper, we study how R&D investment affect financial analyst’s earnings forecasts and how intellectual capital endowments moderate this effect. We argue that high information asymmetry and uncertainty associated with R&D investment increase a financial analysts’ earnings forecast...