This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity …

market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation. …

We investigate the effect of profit-sharing on product and process innovation. Profit-sharing is a credible commitment … that the introduction of profit-sharing only spurs product innovation. …

This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity …

as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation. -- Corporate governance ; managerial ownership ; entrenchment ; innovation …

these predictions based on a unique dataset and survey for the German manufacturing sector (the Mannheim Innovation Panel …

as reduced remuneration and job loss. However, managers might over-invest into innovation for reasons of growth implying … their own interests. When entrenched, managers do not fear detrimental effects of risky innovation projects on their career …, and hence tend to over-invest into innovation …

market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation …

We investigate the effect of profit-sharing on product and process innovation. Profit-sharing is a credible commitment … that the introduction of profit-sharing only spurs product innovation …