Corporate transparency reduces information asymmetries between firms and capital markets, but increases the costs associated with information leakage to competitors. We explore how a country's information environment affects innovation, an activity characterized by high information asymmetries...

We study a broad sample of firms across 32 countries and find that strong shareholder protections and better access to stock market financing lead to substantially higher long-run rates of R&D investment, particularly in small firms, but are unimportant for fixed capital investment. Credit...

There is wide acceptance of the precept that market orientation is associated with superior firm performance. However, empirical support for the proposition in prior literature is weak. This study examines the relationship between market orientation and performance with data from 201...