This paper provides a theoretical rationale for private investment in basic research. It explains the decision by some firms to hire scientists who have an intrinsic motivation to pursue academic research and allow them to do so while they also dedicate time to the firm's applied agenda. We show...

As firms shift to more open models of innovation based on collaboration and external sourcing of knowledge, they are exploiting their intellectual property, notably patents, not only by incorporating protected inventions into new products, processes and services, but also by licensing them to...

We describe alternatives to traditional fixed income assets for liability-driven investors such as insurance companies and pension funds by utilizing their comparative advantage in investing in less liquid assets