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...

We develop a new look on leadership for innovation and propose that effective leaders alternate between a broad range of behaviors and tune their approach to the changing demands of innovation. This is referred to as ambidextrous leadership. As the importance of different leader behaviors varies...