This study investigates the effects of government R&D programs on firm innovation outputs, which are measured by the number of patents, sales from new products, and exports. Particularly, we examine the effects of Innovation Fund for Small and Medium Technology-based Firms (Innofund), which is...

This paper provides a unique contractual analysis of privatization from a state-owned company to a privately-owned company. Using a contractual approach, we analyze the advantages and disadvantages of private ownership versus state ownership under various circumstances. Our analyses focus on...

Technological progress has been regarded as one of main driving forces to facilitate the society’s transition to a low carbon economy. Exploring the effect of carbon policy risk on firms’ green innovation is important for understanding how regulatory risk impacts on firm innovation during...