This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian …, competition may also reduce innovation incentives for laggards. This model generates four main predictions which we test … empirically. First, the relationship between product market competition (PMC) and innovation is an inverted U-shape: the escape …

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to …