Generating creative ideas and turning them into innovations is key for competitive
advantage. However, endeavors toward creativity and innovation are bounded by …

We review the recent literature on the financing of innovation, inclusive of large companies
and new start-ups. This research strand has been very active over the past five years …

Much research has suggested that independent boards of directors are more effective in
reducing agency costs and improving firm governance. How they influence innovation is …

This chapter reviews academic research on the connections between agglomeration and
innovation. We first describe the conceptual distinctions between invention and innovation …

Corporate innovation is an increasingly important topic that has attracted great attention from
academic researchers in financial economics in recent years. Although the top three finance …

Entrepreneurship research is on the rise but many questions about the fundamental nature
of entrepreneurship still exist. We argue that entrepreneurship is about experimentation; the …

In this study, we assess the causal impact of stakeholder orientation on innovation. To obtain
exogenous variation in stakeholder orientation, we exploit the enactment of state-level …

I show that patents are pledged as collateral to raise significant debt financing, and that the
pledgeability of patents contributes to the financing of innovation. In 2013, 38% of US …

We explore the market for lending to start-ups and two mechanisms that facilitate trade
within it:(1) the salability of patent collateral and (2) the credible commitment of equity …

R&D drives innovation and productivity growth, but appropriability problems and financing
difficulties likely keep R&D investment well below the socially optimal level, particularly in …