Innovation is the principle driver of firm and economic growth. Thus one disturbing trend that may explain stagnant growth is a 65% decline in firms' RQ. We propose that the rise of outside CEOs is partially responsible for the decline. While this proposition was motivated by interviews with...

Since at least Penrose and Chandler, we have understood that companies conduct R&D to grow. For the past several years, though, the strategy consulting division of PwC, Strategy&, has produced a report of the top 1,000 R&D firms. Their conclusion is rather surprising—R&D spending doesn't drive...