We present a model of science-based entrepreneurship where ideas initially produced by researchers with high-level knowledge capital may be developed by high-ability entrepreneurs. With moderate investment costs, startups continuously managed by inventors-founders coexist in equilibrium with...

This paper empirically examines the "defensive innovation" hypothesis that firms with higher exposure to low-wage economy import competition intensively undertake more innovative activity by using a high quality Japanese firm-level panel dataset over the period 1994-2005. The novel feature of...

This paper empirically examines the “defensive innovation” hypothesis that firms with higher exposure to low-wage economy import competition intensively undertake more innovative activity by using a high quality Japanese firm-level panel dataset over the period 1994–2005. The novel feature...

By exploring the patterns of laser-diode technological development in the U.S. and Japan and theoretically examining market conditions and institutions that promote entrepreneurial spin-outs from a parental company, this study reveals how the existence and absence of entrepreneurial spin-out...