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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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Influence of stock market factors on the natural resources dependence for environmental change: Evidence from China
TL;DR: Wang et al. as discussed by the authors extracted the data from the Statistical yearbook of China, World Banks, and Shanghai Stock Exchange from 1981 to 2020 to study the long run and short-run relationships between the stock market and the natural resource dependency of China.
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Population aging and corporate innovation: evidence from China
TL;DR: Li et al. as mentioned in this paper found that corporate innovation is negatively associated with population aging, indicating that the aging workforce impedes corporate innovation, and they further found evidence suggesting that education and stock-based incentive plans are two ways to alleviate the negative impact of population aging on corporate innovation.
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Initial public offering, corporate innovation and total factor productivity: Evidence from China
TL;DR: In this article , the authors study how listing status affects corporate innovation and total factor productivity in the Chinese capital market and identify two possible mechanisms through which IPOs affect innovation activities: agency problems and easier access to funding.
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Do Private Equity Firms Reduce Product Commercialization
TL;DR: This paper found that PE firms reduce trademark filings, but they accompany it with the reduction in the number of product classes which is a sign of product focus, which is associated with a product focus in the product commercialization strategy of the LBO.
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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.
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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.
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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.