We study the relationships between corporate R&D and three components of public science: knowledge, human capital, and … established firms, which account for more than three-quarters of business R&D, is affected by scientific knowledge produced by … innovation in firms. However, inventions from universities and public research institutes substitute for corporate inventions and …

, despite sustained progress in scientific knowledge, recent productivity growth in the U.S. has been disappointing. We review … major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a … growing division of labor between universities focusing on research and large corporations focusing on development. Knowledge …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

Technical progress increasingly relies on the use of scientific knowledge. But if much of this knowledge is in the …

inventions, reliance on science may enhance gains from trade and reduce the transfer cost of knowledge and other transaction … scientific knowledge to technological fields, we confirm reliance on science increases the likelihood that the invention will be …

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 … knowledge (as measured by patents) has remained stable. These effects appear to be associated with globalization and narrower …