We document a positive effect of monitoring institutional ownership on firm innovation after controlling for traditional measures of institutional ownership. We further find that monitoring institutions enhance firm innovation by: 1) incentivizing CEO risk-taking and reducing intense board...

Exploiting a novel measure of corporate culture based on cutting-edge machine learning algorithms, we examine how female board representation influences a culture of innovation, and also whether female directors spur innovation culture in the presence of an active takeover market. Our results...

This study uses patent renewal information to estimate private value of patents by technology and ownership status. Patent value refers to the economic reward that the inventor extracts from the patent by making, using or selling an invention. Thus, we measure the value of patent right (private...

World Pensions Council cofounders Vincent Bazi and M. Nicolas J. Firzli analyse the rise of natural gas as a new asset class for pension and sovereign fund stakeholders in light of the geo-institutional dynamics underpinning asset allocation and investment decisions in an era of macroeconomic...

We document political sentiment effects on inventors in the US. Democrat patenters are more likely to patent (relative to Republicans) after the election of Barack Obama but less likely to patent following the election of Donald Trump. These effects are 2-3 times as strong among active partisans...

Building energy appropriate solutions for a cleaner environment is a desirable outcome for lesser fossil fuel dependence, thus the objective of “green technology” options. Green Technology is defined as technology that seeks to improve environmental performance, and is use interchangeably as...

Spanish Abstract: La aplicación de las tecnologías en áreas como la computación en la nube, la blockchain y el big data, trasladadas a las finanzas, además de generar nuevos modelos de negocio, aplicaciones, productos y servicios con efecto material en los mercados financieros o en las...

Open climate and green finance issues concern the lack of a comprehensive taxonomy of green and brown assets and the uncertainty over the substantial advantage in investing in green projects (e.g., greenium). Barriers to environmental-related investments boil-down to the lack of a stable climate...

This paper considers an international oligopoly where firms simultaneously choose both the amount of output produced and the proportion of R&D investment to output. The model captures the links between the exchange rate, market power, innovative activity and price, which are important for the...

I examine how philanthropic investments can be structured to unlock venture capital for early-stage deep tech start-ups. Drawing on qualitative data from twelve foundations and twelve sector intermediaries, I first identify that investment-related foundation activities in innovation are either...