This chapter reviews the empirical literature on the determination of firms’ and industries’ innovative activity and performance, highlighting the questions addressed, the approaches adopted, impediments to progress in the field, and research opportunities. We review the...

We argue that incumbents may be in a position to adapt to radical technological change via interfirm cooperation with new entrants when the incumbents have complementary assets within their firm boundaries that are critical to commercializing the new technology. We study 889 strategic alliances...

A persistent theme in the academic literature on technological innovation is that incumbent enterprises have great difficulty crossing the abyss created by a radical technological innovation. It is argued that incumbents go into decline, while new entrants rise to market dominance by exploiting...

Innovation is recognize as a matter of survival and success to firms and technological capabilities can lead to an innovative behavior by using technological resources and competences. The literature about technological capability and innovation is vast, counting on several approaches and a...

Information-based models of capital income inequality that link return heterogeneity to investor sophistication levels need to assume an increase in data costs to generate an increase in inequality. Empirically, this assumption contradicts the fact that investment markets have become more...

This paper analyzes the effect of innovation clusters on the adoption of a gen- eral purpose technology (GPT) and on firms R&D investment levels in im- perfect information situation. To do this, we developed a theoretical model of vertical relation, described as a four-step game between an...

We develop a valid definition of technological radicalness which states that a successful radical invention is: (1) novel, (2) unique, and (3) has an impact on future technology. The first two criteria allow us to identify potentially radical inventions ex ante market introduction; adding the...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...

This paper examines the evolution of firm mark-ups across 26 countries for the period 2001-14. It also discusses and investigates empirically how this can be related to the degree of digital transformation in sectors. Four main facts emerge: i) mark-ups are increasing over the period, on average...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...