Companies' emissions-reducing R&D investments increase in response to Schumpeterian competition-R&D rivalry among large firms-in the context of evolving emissions regulation. Estimation supports a theoretical role for emissions standards: to reduce negative externalities caused by hazardous air...

There is great interest in evaluating the impact of private equity investments on innovation and economic growth. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of entrepreneurial firms. We fill this gap by examining a rich...

Edith Penrose noted that firms may need to rely on research joint ventures (RJVs) to acquire access to resources that can help them achieve and sustain a competitive advantage. We estimate an econometric model of the propensity of firms to disclose their intention to engage in RJVs, in order to...