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Research and/or Development? Financial Frictions and Innovation Investment
Mezzanotti, Filippo; Simcoe, Timothy S. - National Bureau of Economic Research - 2023
Abstract U.S. firms have reduced their investment in scientific research ("R") compared to product development ("D …"), raising questions about the returns to each type of investment, and about the reasons for this shift. We use Census data that … cost. Companies with greater demand for refinancing during the 2008 financial crisis made larger cuts to R&D investment …
Persistent link: https://www.econbiz.de/10014337755
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Monetary Policy and Innovation
Ma, Yueran; Zimmermann, Kaspar - National Bureau of Economic Research - 2023
basis points, research and development (R&D) spending declines by about 1 to 3 percent and venture capital (VC) investment …
Persistent link: https://www.econbiz.de/10014372455
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The Rise of Factor Investing : "Passive" Security Design and Market Implications
Cong, Lin William; Huang, Shiyang; Xu, Douglas - National Bureau of Economic Research - 2024
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that facilitate trading the common factors in assets' liquidation values. Through accessing a larger basket of assets in endogenously chosen proportions,...
Persistent link: https://www.econbiz.de/10014468216
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To Starve or to Stoke? : Understanding Whether Divestment vs. Investment Can Steer (Green) Innovation
Pless, Jacquelyn - National Bureau of Economic Research - 2023
investment opportunities. I argue that continuing to invest in dirty industries could drive green innovation conditional on … decomposing them and using alternative approaches to measuring environmental performance can improve investment, strategy, and …
Persistent link: https://www.econbiz.de/10014226139