Revealing Hidden Innovation: Patterns of External Innovation Investment in Australian Businesses

Investment in Innovation

Can the American economy achieve sustainable prosperity --a progressive spreading of the benefits of economic growth to more and more people over a prolonged period of time? During the first half of the twentieth century, despite the debacle of the Great Depression, the United States emerged as the world's most powerful industrial nation. In the 1950s and 1960s the United States had not only by...

What Businesses Can Learn from Financial Innovation

Examining ICT application adoption in Australian home-based businesses: An innovation-decision process approach

This article reports on a study that examines an under-researched area, the use of information and communications technologies (ICT) in Australian home based businesses (HBB). HBB constitute a large part of the economy, yet little is known of how they use ICT to improve their business operations. The study involved interviews with 30 business operators in the Western region of Melbourne, a majo...

Investment Cycles and Startup Innovation∗

We find that VC-backed firms receiving their initial investment in hot markets are less likely to IPO, but conditional on going public are valued higher on the day of their IPO, have more patents and have more citations to their patents. Our results suggest that VCs invest in riskier and more innovative startups in hot markets (rather than just worse firms). This is true even for the most exper...

Entrepreneurial risk, investment, and innovation

I estimate the effect of uncertainty on risky innovation using a panel of 11,417 manufacturing firms. I find that an increase in uncertainty has a large negative effect on the risky innovation of entrepreneurial firms, while it does not have any significant impact on other firms. This negative effect is stronger for the less diversified entrepreneurial firms in the sample. The estimation result...