In this paper, we argue that those firms with higher levels of absorptive capacity can manage external knowledge flows more efficiently, and stimulate innovative outcomes. We test this contention with a sample of 2265 Spanish firms, drawn from the Community Innovation Surveys (CIS) for 2000 and...

This article analyses how a firm's returns are affected when a bank becomes a large blockholder. We investigate this issue by taking into consideration the types of blockholders that build coalitions with banks in order to control a firm. We find that the effect on a firm's returns is negative...

We explore the interaction between public support for R&D and appropriability using a dataset constructed from the Spanish Community Innovation Survey, for the period 2000-2005. We find that public support policy is less able to stimulate privately financed internal R&D in firms where...