We compare innovation strategies of public and private firms based on a large sample over the period 1997-2008. We find that public firms' patents rely more on existing knowledge, are more exploitative, and are less likely in new technology classes, while private firms' patents are broader in...

Prior literature documents mixed evidence about how research and development activities affect corporate creditworthiness. We investigate whether publicly available patent information is incrementally useful in assessing the benefits and risks of corporate innovation from bondholders'...

We identify a positive causal effect of healthy working environments on corporate innovation, using the staggered passage of U.S. state-level smoke-free laws that ban smoking in workplaces. We find a significant increase in patents and patent citations for firms headquartered in states that have...

We study how incentives to boost short-term performance affect longer-term innovation output. Share repurchases that are motivated by an incentive to meet current-quarter EPS targets are associated with an increase in the quality of innovation outputs such as forward citation counts and the...

We propose that extra-organizational factors such as exposure to sunshine are an important driver of innovators' performance. Prior research highlights the critical role non-pecuniary factors play in influencing inventors' productivity, yet most of these studies focus on organizational and job...

This paper investigates the effect that employee treatment schemes have on corporate innovation performance. We find that firms with better employee treatment schemes produce more and better patents through improving employee satisfaction and teamwork. Additional tests suggest that our main...

We examine how industry-university collaboration (IUC) enhances the commercialization of corporate innovation using a comprehensive dataset of 93,303 industrial firms and 153 notable research universities in China. Measuring IUC with the occurrence and frequency of patents co-assigned to both...