What is the interaction between competition, R&D investments, and the financing choices of R&D-intensive firms? Motivated by existing theories, we hypothesize that as competition increases, R&D-intensive firms will: (1) increase R&D investment relative to assets-in-place that support existing...

The interaction between product market competition, R&D investment, and the financing choices of R&D-intensive firms on the development of innovative products is only partially understood. To motivate empirical hypotheses about this interaction, we develop a model which predicts that as...

This study examines the effect of regulatory approval on a firm’s voluntary product-level disclosures. We focus on the US biotechnology industry, a setting which allows direct observation of whether firms disclose more information as products proceed through well-defined—though successively...