One of the most rigorous methodologies in the corporate governance literature uses firms' reactions to industry shocks to characterize the quality of governance. This methodology can produce the wrong answer unless one considers the ways firms compete. Because macro-level shocks reverberate...

I study the effect of inventor mobility on knowledge creation and make two significant departures from prior literature. In contrast to prior studies based on large patent datasets or surveys, I use employment, travel and demographic data for 1315 inventors at an emerging market R&D center of a...