Open innovation is key for innovators responding to major problems in the world, including energy, healthcare, water and the environment, and bringing transitions in socio-technical systems near. This paper has a focus on university spin-off companies as a channel of market introduction of new...

How do firms in high-income countries adjust to emerging market competition? We estimate how a representative panel of Canadian firms adjusts innovation activities, business strategies, and exit in response to large increases in Chinese imports. Whether firms invest in process or product...

Economic convergence is a major aim of the EU. Innovation and investment in economically weaker regions are key steps to foster convergence • Public institutions and the regulatory environment for investments differ substantially across EU member states and increase economic disparities •...

In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed...

Are market leaders more likely to be early adopters of business process innovations? Although they tend to enjoy economies of scale in adoption, leaders may find that adjustment costs also increase with scale. Prior work has focused on how misalignment of incumbents' internal capabilities may...

This paper constructs a model where entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We first show that aggressive development of a basic innovation by better informed...

Open innovation is the practice of combining internal R&D efforts with external sources of knowledge. While project developers allocate effort between internal development and external knowledge processing, knowledge brokers search for relevant external ideas. When external knowledge is...

This paper focuses on revealing the heterogeneous impact of firms’ specificities and the environment on the sophistication of the cooperative innovation strategies. We use the firm-level data on innovation strategies of over 1200 manufacturing enterprises in Russia to model the networking...

We investigate whether the equity-linked components of top executive pay have an effect on patenting activity within a firm. We find a positive relationship between firm patenting activity and managerial alignment incentives created by stock and stock option grants. Prior work has shown that the...

This paper investigates whether aligning manager and owner incentives can improve the innovation performance of firms. We find that pay-sensitivity works to align managerial actions to shareholder interests. As managerial wealth becomes more sensitive to the firm's stock price the innovation...