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of collateral constraints and to quantify the aggregate impact of these constraints on misallocation and productivity …This paper makes use of a reform that allowed firms to use patents as stand-alone collateral, to estimate the magnitude …. The gains are primarily driven by capital deepening, whereas within-industry misallocation plays a smaller role …
Persistent link: https://www.econbiz.de/10014358651
Persistent link: https://www.econbiz.de/10014229890
We develop a theory linking "misallocation," i.e., dispersion in marginal products of capital (MPK), to macroeconomic … productivity by as much as 6%, suggesting large "productivity costs" of business cycles. …
Persistent link: https://www.econbiz.de/10012395487
We develop a theory linking "misallocation," i.e., dispersion in marginal products of capital (MPK), to macroeconomic … productivity by as much as 6%, suggesting large "productivity costs" of business cycles. …
Persistent link: https://www.econbiz.de/10012653032
Aghion, Van Reenen and Zingales (2013) find that institutional ownership causes an increase in innovation as measured by citation-weighted patent counts. To identify a causal effect, they use membership in the S&P 500 as an instrument for institutional ownership in a panel regression. We first...
Persistent link: https://www.econbiz.de/10014556608
We assess the impact of the location of genuinely new ventures and spinoffs on these firms’ survival, productivity and …
Persistent link: https://www.econbiz.de/10010818708
Purpose: The main aim of the study was to determine the moderating effect of intellectual capital on the relationship between ERM risk structure practices and organizational performance of state corporations in Kenya. This study was guided by dynamic capabilities theory which attempts to explain...
Persistent link: https://www.econbiz.de/10013218030
Purpose: The main aim of the study was to determine the moderating effect of intellectual capital on the relationship between ERM risk structure practices and organizational performance of state corporations in Kenya. This study was guided by dynamic capabilities theory which attempts to explain...
Persistent link: https://www.econbiz.de/10012239932
Aghion, Van Reenen and Zingales (2013) find that institutional ownership causes an increase in innovation as measured by citation-weighted patent counts. To identify a causal effect, they use membership in the S&P 500 as an instrument for institutional ownership in a panel regression. We first...
Persistent link: https://www.econbiz.de/10014547713
nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their … innovation as well as the project’s feasibility. Our analysis of 900 nascent entrepreneurs finds that patents and prototypes …
Persistent link: https://www.econbiz.de/10003836942