costs, but competition helps to erode innovators' informational rents. Consequently, competition leads to faster innovation …

, competition leads to faster innovation, because the investor has less of a need to delay expensive investments. The investor …

Using novel data on European firms, this paper examines the effect of business group affiliation on innovation. We find … that business groups foster the scale and novelty of corporate innovation. Group affiliation is particularly important in … industries that rely more on external finance and have a higher degree of information asymmetry. We also find that the innovation …

of financial conditions. We exploit a quasi-experiment in China, the mandatory dividend of a state-owned business group …

We analyze the spillover effect of fixed asset investment incentive on firm innovation by estimating the influence of … China's value-added tax reform in 2004 with a difference-in-difference-in-differences (DDD) approach. We find that fixed … asset investment incentive significantly reduces firm innovation. In a simple model, we show that the reduction could arise …

We examine the relationship of the financial expert CEOs on firm innovation. Using CEO individual-level and firm … have significant negative impacts on firm innovation. Financial expert CEOs cause 17.5% decrease in firm innovation level …-financial performance. Additionally, we exam this impact on innovation acquired outside …