William Baumol1 has provided striking evidence indicating that private innovative activity has been divided by market forces between small firms and large, with each tending to specialize in a different part of the task.2 Even though the preponderance of private expenditure on research and development (R&D) is provided by the giant business enterprises, a critical share of the innovative breakt...

As part of the restructuring of the electricity industry in many states, public benefits funding has emerged as a primary mechanism for supporting social benefits such as energy efficiency and research and development (RD). In California, a Public Interest Energy Research (PIER) Program was established to "conduct public interest energy research that seeks to improve the quality of life for Cal...

In this study, we empirically investigate about the validity of using a corporate social responsibility (CSR) index as a role of reduction of information asymmetry in research and development (R&D) intensive firms. Employing a comprehensive sample of U.S. firms that engaged with CSR during the 1991-2015 period, we find that overall CSR index, which is consisted of equally weighted seven dimensi...

In a remarkably short period of time, economic globalisation has changed the world economic order, bringing new opportunities and new challenges (Commission of the European Communities, 2006). These challenges and opportunities are further amplified by the recent global economic meltdown. In this new economic order, the rules of the game of competition and competitiveness have greatly changed. ...

The gross-output multifactor productivity index for U.S. food manufacturing grew 0.19 percent per year between 1975 and 1997. This productivity growth is low when compared with an estimate of 1.25 percent per year for the whole manufacturing sector. Low investment in research and development (R&D) could be one reason. Although productivity has been relatively low, food manufacturing output has ...