The aim of this paper is an investigation on the role of demand in industrial dynamics. Despite the decades-long debate on demand and innovation, theory still lacks a comprehensive analytical formulation. This paper proposes a model where demand is conceived as a peculiar blend of two...

Theoretically and experimentally, we generalize the analysis of acquiring a company (Samuelson and Bazerman 1985) by allowing for competition of both, buyers and sellers. Naivety of both is related to the idea that higher prices exclude worse qualities. While competition of naive buyers...

Spinoffs firms are an important source of industry dynamics and innovation. While an emerging body of literature identifies strategic disagreements and ideas as determinants of spinoffs, neither of them can completely explain the spinoff process. Mere disagreements or brilliant flashes of ideas...

We develop a model in which novelty and conformity motivate fashion behavior.Fashion cycles occur if conformity is not too high. The duration of fashion cycles depends on individual-specific conformity, novelty, and the number of available styles. The use of individual-specific novelty and...

A growing body of ethics research investigates gender diversity and governance on corporate boards, at individual and firm levels, in single country studies. In this study, we explore the environmental context of female representation on corporate boards of directors, using data from forty-three...

In the past decades the role of profit sharing schemes (PSS) as a way to foster innovation in a principal-agent context, and more generally of innovation in economic growth, have been widely acknowledged and studied. However, surprisingly little has been done to analyze the interactions between...

The last decades saw a pronounced shift in innovation policy in Germany and many other countries towards increased funding of cooperative R&D. Over the last years, competitions between regional initiatives pushed this trend even further by adding a regional perspective, by increasing the scope...

Building on the notion of general and specific human capital proposed by Becker (1962), the paper highlights the importance of employee training practices undertaken in firms as an important tool for human resource and knowledge management and focuses on the role of works councils as a specific...

In this study, we quantify the role of foreign-born founders in high-tech entrepreneurship in a nationally representative sample of rapidly growing "high-impact" companies. This class of companies drives job creation and aggregate growth in the U.S. We find that, while most previous studies have...

This paper reviews approaches used for evaluating the performance of local or regional innovation systems. This evaluation is performed by a benchmarking approach in which a frontier production function can be determined, based on a knowledge production function relating innovation inputs and...