In the presence of potential technology spillovers, I demonstrate that a firm's absorptive capacity (AC), as proxied by R&D investments, is crucial to benefit from spillovers. I find that higher AC firms, when exposed to large potential spillovers, exhibit stronger future real outcomes...

Erstwhile, displays using down-converting color changing medium utilized color filters as an essential part of clarifying the trade-off between true colors and transmittance. In this study, we report the development of a novel, smart process for producing thin luminescent films that completely...

We empirically examine the effect of exposure to temporary and persistent cash flow shocks on firm investment and its link with cash holdings. Theoretical models demonstrate that an expectation channel drives a wedge between the investment effects of temporary and persistent cash flow shocks,...