Journal ArticleDOI
Financial dependence and innovation: The case of public versus private firms
Viral V. Acharya,Zhaoxia Xu +1 more
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In this paper, the authors examined the relation between innovation and a firm's financial dependence using a sample of privately held and publicly traded US firms and found that public firms in external finance dependent industries spend more on research and development and generate a better patent portfolio than their private counterparts.About:
This article is published in Journal of Financial Economics.The article was published on 2017-05-01. It has received 283 citations till now. The article focuses on the topics: Listing (finance) & Patent portfolio.read more
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External financing of innovative small and medium enterprises (SMEs): unpacking bank credit with respect to innovation typologies and combinations
TL;DR: In this article, the authors investigate the extent to which SMEs external financing varies with the innovation profiles they reveal in terms of introduced and combined innovation typologies, using Survey on the Access to Finance of Enterprises data.
Journal ArticleDOI
Does stock market listing impact investment in Japan
TL;DR: In this article, the authors provide the first large sample comparison of investment by Japanese listed and unlisted public firms and find that listed firms invest more and have greater sensitivity to investment opportunities than comparable unlisted companies.
Journal ArticleDOI
Public Firm Presence, Financial Reporting, and the Decline of U.S. Manufacturing
TL;DR: In this article , the authors examine the relation between public firm presence and import competition and find evidence that financial reporting is a channel through which public-firm presence relates to import competition, which is consistent with foreign competitors using the information created by public presence, including what public firms disclose in financial reports, to compete with domestic firms.
Journal ArticleDOI
Does Green Technology Innovation Matter to the Cost of Equity Capital?
TL;DR: In this paper , the authors present the first evidence highlighting the relation between green technology innovation and cost of equity capital, and find that greater green technologies innovation is associated with lower cost of capital.
Book ChapterDOI
Corporate Governance and Firm Innovation: The Effect of Ownership and Board of Directors on R&D Investments
TL;DR: In this article, the effect of ownership structure on R&D investment is analyzed and the main theoretical perspectives investigating the functions of board of directors and main board tasks are explored, and three attributes of board structure and their effect on research investments are explored.
References
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Journal ArticleDOI
Risk, Return, and Equilibrium: Empirical Tests
Eugene F. Fama,James D. MacBeth +1 more
TL;DR: In this article, the relationship between average return and risk for New York Stock Exchange common stocks was tested using a two-parameter portfolio model and models of market equilibrium derived from the two parameter portfolio model.
Posted Content
Financial Dependence and Growth
Raghuram G. Rajan,Luigi Zingales +1 more
TL;DR: This paper examined whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship: that financial development reduces the costs of external finance to firms, and they found that industrial sectors that are relatively more in need of foreign finance develop disproportionately faster in countries with more developed financial markets.
Posted Content
Patent Statistics as Economic Indicators: A Survey
TL;DR: In this paper, the authors present a survey on the use of patent data in economic analysis, focusing on the patent data as an indicator of technological change and concluding that patent data remain a unique resource for the study of technical change.
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The economic implications of corporate financial reporting
TL;DR: This paper found that the majority of managers would avoid initiating a positive NPV project if it meant falling short of the current quarter's consensus earnings, and more than three-fourths of the surveyed executives would give up economic value in exchange for smooth earnings.
Posted Content
Market value and patent citations
TL;DR: Hall et al. as mentioned in this paper explored the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge.