Innovation and Corporate Conservatism
نویسندگان
چکیده
منابع مشابه
Innovation and Corporate Conservatism∗
In this paper, we study firms’ incentives to promote innovation. We analyze a situation in which an employee in a firm can invest in discovering new ideas. An innovative employee has to decide whether to disclose his idea within the firm, to maintain the status-quo by not implementing it, or to form a spin-out firm. In a framework in which intellectual property rights are not perfect, a contrac...
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We examine the impact of accounting conservatism on corporate innovation. We find that firms with a higher level of accounting conservatism generate fewer patents and patent citations. They invest less in R&D activities but our results hold after controlling for this lower R&D activity. Moreover, the cash-flows associated with innovation in firms with more conservative accounting are lower and ...
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Prior studies have portrayed accounting conservatism as a tool that enables boards to perform their monitoring duties. We develop a model that suggests that the empirical association between conservatism and governance can also run in the opposite direction —only well-governed firms with suffi cient monitoring in place can fully utilize the benefits of conservative accounting. In our setting, c...
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In this paper we analyze the effects of information leakage on the incentives to innovate in firms. We analyze a situation in which an employee in a firm is inspired with a new idea for a product. In a framework in which Intellectual Property Rights on ideas are absent, we analyze the employee’s decision of whether to disclose the idea within the firm or to form a spin-out. We next look at the ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1410207