How analyst coverage may affect corporate innovation remains unclear. We suggest that when the manager is myopic due to pressure from financial analysts and decides to reduce innovation, the firm should retain better innovation projects and forego worse projects. Accordingly, the average value...

We examine how firms react to their competitors' highly publicized technology breakthroughs measured by the renowned R&D 100 Award. These awards have been granted to top 100 technological inventions every year since 1965 and have come to be known as the “Oscar of Invention” (e.g., Verhoeven,...

In this paper, we examine whether and why the Uniform Trade Secrets Act (UTSA) affects the financing costs of innovative firms. Using the UTSA as an exogenous shock, we find that innovative firms are charged significantly lower loan spreads after the release of the UTSA, while non-innovative...