We analyze the spillover effect of fixed asset investment incentive on firm innovation by estimating the influence of China's value-added tax reform in 2004 with a difference-in-difference-in-differences (DDD) approach. We find that fixed asset investment incentive significantly reduces firm...

This study investigates the capability of generative artificial intelligence (AI) in creating innovative business solutions compared to human crowdsourcing methods. We initiated a crowdsourcing challenge focused on sustainable, circular economy business opportunities. The challenge attracted a...

Successful innovations could induce more disclosure if the information asymmetry between the firm and its investors about post-innovation outcomes leads investors to demand more information. However, such innovations also likely entail greater proprietary cost concerns, which deter disclosure....