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Class Struggle Inside the Firm : A Study of German Codetermination

Gorton, Gary - 2000

Who should control the firm? What should be the firm's objective function? If contracts are incomplete, then the group of input providers that most needs their interests protected should be allocated control rights to the firm. Existing theories argue that the suppliers of capital are most in...

Persistent link: https://www.econbiz.de/10012470791

Flight to Safety : How Economic Downturns Affect Talent Flows to Startups

Bernstein, Shai - 2020

This paper investigates how economic downturns affect the flow of human capital to startups. Using proprietary data from AngelList Talent, we study how individuals' online job searches and applications changed during the emergence of the COVID-19 crisis. We find that job seekers shifted their...

Persistent link: https://www.econbiz.de/10012482126

The Reorganization of Inventive Activity in the United States during the Early Twentieth Century

Lamoreaux, Naomi R. - 2009

The standard view of U.S. technological history is that the locus of invention shifted during the early twentieth century to large firms whose in-house research laboratories were superior sites for advancing the complex technologies of the second industrial revolution. In recent years this view...

Persistent link: https://www.econbiz.de/10012463209

Killing the Golden Goose? The Decline of Science in Corporate R&D

Arora, Ashish - 2015

Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

Persistent link: https://www.econbiz.de/10012457764

Mega Firms and Recent Trends in the U.S. Innovation : Empirical Evidence from the U.S. Patent Data

Braginskij, Sergej V.; Choi, Joonkyu; Ding, Yuheng; Jo, … - National Bureau of Economic Research - 2023

We use the U.S. patent data merged with firm-level datasets to establish new facts about the role of mega firms in generating "novel patents"--innovations that introduce new combinations of technology components for the first time. While the importance of mega firms in novel patents had been...

Persistent link: https://www.econbiz.de/10014322847

What Are Firms? Evolution from Birth to Public Companies

Kaplan, Steven N. - 2005

We study how firm characteristics evolve from early business plan to initial public offering to public company for 49 venture capital financed companies. The average time elapsed is almost 6 years. We describe the financial performance, business idea, point(s) of differentiation, non-human...

Persistent link: https://www.econbiz.de/10012467096

Entrepreneurial Spawning : Public Corporations and the Genesis of New Ventures, 1986-1999

Gompers, Paul - 2003

This paper examines the factors that lead to the creation of venture capital backed start-ups, a process we term entrepreneurial spawning.' We contrast two alternative views of the spawning process. In one view, employees of established firms are trained and conditioned to be entrepreneurs by...

Persistent link: https://www.econbiz.de/10012468882

How Does Expropriation Risk Affect Innovation?

Benavente H., José Miguel; Bravo Ortega, Claudio; … - National Bureau of Economic Research - 2024

We analyze how expropriation risk reduces incentives for innovation and reallocates resources from the innovative … risk, such as corruption, negatively impacts innovation by reducing R&D expenditure, human capital in R&D, number of … highlight the detrimental effects of expropriation risk on innovation and economic development at the country level …

Persistent link: https://www.econbiz.de/10014512142

Investment in New Activities and the Welfare Cost of Uncertainty

Aizenman, Joshua - 1995

Recent literature has highlighted the importance of new activities in development and growth. It was shown that trade distortions such as tariffs are associated with first-order costs stemming from the induced drop in the formation of new activities. This paper demonstrates that uncertainty may...

Persistent link: https://www.econbiz.de/10012473852

Endogenous Innovation in the Theory of Growth

Grossman, Gene M. - 1993

This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth'. Then we discuss the empirical evidence that...

Persistent link: https://www.econbiz.de/10012474415

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