While often presumed in academic literature and policy discussions there is little empirical evidence showing that academic patents protect more basic inventions than corporate patents. This study provides new evidence on the basicness of academic patents using German professor patents linked to...

Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....

This study investigates how local milieus foster innovation success of firms. We complement the common practice of linking firm performance indicators to regional characteristics with survey evidence on the perceived importance of locational factors. While the former approach assumes that...

We analyze financial constraints for R&D, where we account for heterogeneity among investments which has been neglected in previous literature. According to economic theory, investments should be distinguished by their degree of uncertainty, e.g. routine R&D versus cutting-edge R&D. Financial...

When academic researchers participate in commercialization using for-profit firms there is a potentially costly trade-off their time and effort are diverted away from academic knowledge creation. This is a form of brain drain on the not-for-profit research sector which may reduce knowledge...