Data intermediaries entail data governance measures for ensuring that is only processed as appropriate, giving stakeholders some degree of confidence their rights and interests are properly respected.

This document provides an overview of the current state of my research into the introduction of innovation as of April 2008.

A firm can finance investment either by borrowing or by drawing on cash balances, so that financial asset and liability changes tend to have opposite signs. In contrast, financial intermediaries borrow in order to lend, so that financial asset and liability changes have the same sign. Large non-financial firms in China and India behave like intermediaries rather than textbook non-financial firm...

Innovation management focuses too much on processes and tools, whereas entrepreneurship is pre-occupied with individual personal traits. However, many of the most successful innovations were co-created by multiple entrepreneurs, and it is this interaction of talent that is at the core of radical innovation, what we call Conjoint Innovation. We examine 15 cases, historical and contemporary, to i...

We propose and analyze a two-country model of endogenous innovation cycles. In autarky, innovation fluctuations in the two countries are decoupled. As the trade cost falls and intra-industry trade rises, they become synchronized. This is because globalization leads to the alignment of innovation incentives across firms based in different countries, as they operate in the increasingly global (he...

I estimate the effect of uncertainty on risky innovation using a panel of 11,417 manufacturing firms. I find that an increase in uncertainty has a large negative effect on the risky innovation of entrepreneurial firms, while it does not have any significant impact on other firms. This negative effect is stronger for the less diversified entrepreneurial firms in the sample. The estimation result...