Although innovation is essential to build a competitive advantage and survive in the long run, some firms choose to exit, through mergers and acquisitions (M&As), or radically change their business portfolio and identity. This paper examines how innovative capabilities influence the decision of...

Firms are resorting more and more to mergers and acquisitions (M&A) to bridge the gap between where they are and where they would like to be in relation to innovation and performance. This paper investigates whether involvement in M&A triggers distinct patterns of innovative behaviour across...

In a recent paper in The Journal of Monetary Economics, Michelacci and Zaffaroni (2000)estimate long memory parameters for GDP per capita of 16 OECD countries. In this note weargue that these estimations are questionable for the purposes of clarifying the time seriesproperties of these data...

This paper investigates the role of intellectual property rights (IPRs) in shaping the GSM industry. Thisindustry is an example of a high-tech industry in which standards play a large role. In the process ofdesigning the GSM standard, a lot of attention has been given to IPRs, mainly to avoid a...

The Schumpeterian theory of long waves has given rise to an intense debate on the existenceof clusters of basic innovations. Silverberg and Lehnert have criticized the empirical part ofthis literature on several methodological accounts. In this paper, we propose the methodologyof Poisson...

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Industrialization, and the association between technological advance and economic growth, brought Europe world economic leadership in the 19th century. However, in the course of the 20th century, European leadership was lost to the United States, as well as a number of dynamic Asian economies,...