Whether a manager leads the innovation efforts of a firm in line with shareholder preferences has a substantial impact on the firm's market value and growth. This in turn influences aggregate productivity growth and welfare. Using data on US public firms, we find that (i) firms with better...

A vast literature exists on disruptive technologies; however, some fundamental questions are unknown, such as: how is the speed of disruptive technologies in competitive markets? How is the pathway of technological cycle of disruptive technologies? The study confronts these questions here by...

Disruptive innovations often formulate new market regimes and create incentives to abandon existing, less attractive ones. However, this decision depends not only on market forces, such as economic and technological uncertainty, but also on attitudes towards risk. Although greater risk aversion...