Acharya, Viral V.; Baghai, Ramin P.; Subramanian, … - National Bureau of Economic Research (NBER) - 2010
employees to pursue value-enhancing innovative activities. Using patents and citations as proxies for innovation, we identify … that within a country, innovation and economic growth are fostered by stringent laws governing dismissal of employees …, especially in the more innovation-intensive sectors. Firm-level tests within the United States that exploit a discontinuity …