ABSTRACT We present theory and empirical evidence that greater financial reporting quality can incentivize myopic investments. In the model, increases investor response to earnings, elevating manager’s incentive invest myopically improve earnings. Using setting of Big N auditors’ acquisitions non-Big Ns, which increased earnings for acquired client firms, we find supporting Specifically, client...

How important is access to patent documents for subsequent innovation? We examine the expansion of USPTO Patent Library system after 1975. libraries provided patents before Internet. find that library opening, local patenting increases by 8–20 percent relative similar regions. Additional analyses suggest disclosure technical information drives this effect: inventors increasingly take up ideas f...

This study explores how intangible assets affect crash risk in Indonesia as the representative of emerging markets, especially for low intellectual capital firms. We employ regression analysis to investigate effect on Indonesia. The findings suggest that firms with are more vulnerable risk. Our further investigations also find stimulate IC firms, but cannot explain high implies Indonesia’s use ...

Liability laws designed to compensate for harms caused by defective products may also affect innovation. We examine this issue exploiting a major quasi-exogenous increase in liability risk faced US suppliers of polymers used manufacture medical implants. Difference-in-difference analyses show that surge suppliers’ had large and negative impact on downstream innovation implants, but it no signif...

We can know more than we tell. In this paper discuss how Polanyi applied his tacit knowledge concept to approach creativity. As a first step, Polanyi’s epistemological position is briefly discussed. Then conceptualisation of presented, followed by discussion relates creativity in general and science particular. argue that not only was theoretician on creativity, but also very creative educator ...

Whether China continues its business-as-usual investment-driven, environment-polluting growth pattern or adopts an investment and innovation-driven, environmentally sustainable development holds important implications for both national and global environmental governance. Building on a Ramsey-Cass-Koopmans growth model that features endogenous technological change induced by R&D and knowledge s...

This paper proposes three models of social capital and growth that incorporate different perspectives on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networ...

This study tests the importance of Ricardian technology di¤erences for international trade. Panel regressions …nd technology growth increases manufacturing exports. To establish a causal relationship between technology and trade, instrumental-variables speci…cations exploit uneven technology di¤usion from the US through ethnic scienti…c networks. The instrumented elasticity of export growth to ...

This paper employs a matched firm production-innovation panel dataset from Chile to explore the response of innovation increased competition arising China shock. The data cover wider range inputs and outputs than previously possible allow generating measures markups efficiency (TFPQ) that correspond closely concepts rents technological leadership envisaged in Schumpeterian literature. Except fo...

The high-tech sector is concentrated in a small number of cities. ten largest clusters computer science, semiconductors, and biology account for 69 percent, 77 59 percent all US inventors, respectively. Using longitudinal data on 109,846 I find that geographical agglomeration results significant productivity gains. When an inventor moves to city with large cluster inventors the same field, she ...