The number of (registered) commercial banks in Russia increased at a fast pace after the 1988 banking reform. Many of these banks lacked supervision and operated with dangerously low funding capital. In this paper we investigate the determinants of the hazard rates of banks active on the...

The anecdotal evidence provided by the literature on high tech clusters has paved the way to systematic explorations of the localized effects of academic research on technological success and economic development. Prime drivers of such development are new entrants. New entrants are more likely...

The quality of academic research and research undertaken at public laboratories is an important determinant of successful technology transfer. Corporate innovativeness may benefit considerably from scientific discoveries at universities or public laboratories and from the availability of locally...

Corporate scientific publications are often presented as a strategic means for firms to create prior art with the objective to prevent others from patenting related inventions. This presumes that corporate publications enter the pool of prior art which is relevant to judge the novelty of patent...

The Innovation Act was introduced by the French government in 1999, with the aim of encouraging academic institutions to protect and commercialize their scientists’ inventions. We explore the effects of the Act on the distribution of Intellectual Property Rights (IPRs) over academic...

This paper studies the duration of two cohorts of entrants in the Italian financial intermediation industry. Using the Cox (1972) Proportional Hazards Model, it analyzes the link between duration of each newborn firm and its start-up size, as well as a series of industry-specific...