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Scientific and technological innovation policies play a critical role in the innovative development of high-technology industrial parks. However, it remains unclear how scientific and technological innovation policies impact the innovation efficiency of high-technology industrial parks and what...
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Using NBER patent data and hedge fund holdings in U.S. firms during 1998-2006, we study the effect of hedge fund ownership on corporate innovation. We find that hedge fund ownership promotes both patent quantity and quality, even after controlling for endogeneity. This stimulating effect is more...
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