stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …We refine modelling of the radical innovation decision in this paper by extending real option theory to include non …

stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …We refine modelling of the radical innovation decision in this paper by extending real option theory to include non …

an alternative way to model whether firms export or not, namely as a firm-level decision akin to an investment decision …

an alternative way to model whether firms export or not, namely as a firm-level decision akin to an investment decision …

set on innovation for a large number of Italian firms over the 1990's. There is evidence that banking development affects … the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors … more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that …

prevailing ideologies and institutions. This uncertainty discourages investment in institutions and the cultural capital … institutions. When new technologies emerge, uncertainty results from a lack of understanding how the technology will fit with … necessary to take advantage of new technologies. Accordingly, increased uncertainty during times of rapid technological change …

set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects … the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors … more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that …