This collection investigates the phenomenon of ""Open Innovation,"", in which firms draw on research and development that may lie outside their own boundaries. The book's contributors link the practice of innovation to the established body of innovation rsearch, showing what's new and what's...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...