Using novel data on European firms, this paper examines the effect of business group affiliation on innovation. We find that business groups foster the scale and novelty of corporate innovation. Group affiliation is particularly important in industries that rely more on external finance and have...

Economists view intellectual property rights (IPRs) as policy tools for encouraging innovation. There are many types of IPRs and of institutions concerned with their administration. We begin by outlining how these complex and varied rights are supposed to work and how they interact with other...