management (e.g. resource-based view) and the economic geography literature (e.g. cluster approach), variables from three … from revealing that being located in a cluster indeed increases on average firm innovativeness, one of the central findings … is that firms benefit unequally within the cluster environment depending on the specific firm-level, cluster …

We define a dynamic and self-adjusting mixture of Gaussian Graphical Models to cluster financial returns, and provide a …