Is firm renewal stimulated by negative shocks? The status of negative driving forces in Schumpeterian and Darwinian economics
in Cambridge Journal of Economics
January 2016; p ublished online December 2014 .
Journal Article. Subjects: Firm Objectives, Organization, and Behaviour; Production and Organizations; Technological Change; Research and Development; Prices, Business Fluctuations, and Cycles. 15607 words.
The idea that firms are more innovative under difficult external condition has no prominent place in evolutionary economics. The neo-Schumpeterians agree with Schumpeter that innovation is...
Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
in The Review of Financial Studies
April 2014; p ublished online February 2014 .
Journal Article. Subjects: Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Economics; Corporate Governance; Firm Objectives, Organization, and Behaviour. 21150 words.
We argue and demonstrate that resource allocation within firms' internal capital markets provides an important force countervailing financial market dislocation. We estimate a structural...
in Journal of Competition Law & Economics
March 2009; p ublished online March 2009 .
Journal Article. Subjects: Market Structure, Firm Strategy, and Market Performance; Technological Change; Research and Development; Antitrust Issues and Policies; Firm Objectives, Organization, and Behaviour; Market Structure and Pricing; Law and Economics. 31440 words.
Current controversies over patent policy place standard-setting organizations (SSOs) on a collision course with antitrust law. Recent theoretical research conjectures that, in an SSO,...