Innovating in downturns can affect corporate success because it improves a firm’s position relative to competitors during the recovery period. However, increased uncertainty and more binding financial constraints complicate such innovation activity. I find that past experience with innovation during recessions improves a firm’s ability to invest in R&D when a new downturn hits. This result hold...

The Wider Economic Impacts of High-Skilled Migrants: A Survey of the Literature In recent years, the economics of migration literature has shown a substantial growth in papers exploring host country impacts beyond the labour market. Specifically, researchers have begun to shift their attention from labour market and fiscal changes, towards exploring what we might call ‘the wider effects of migr...

The literature on industrial districts (also referred to as business clusters) has grown out of recognition that spatial proximity among firms supports the formation and exchange of knowledge within an industry and is therefore a source of competitive advantage. While such a ‘territorial’ perspective on interfirm relationships is valuable in highlighting the informal means through which firms c...

This paper examines how the relationship between firm value and patent-based indicators of inventive activity has changed over time. We use data from more than 33,000 mergers and acquisitions deals between 1985 and 2007, and distinguish between American (USPTO) and European (EPO) patents. Our results indicate that over time EPO patents have become the dominant indicator of innovative activity, ...

This paper analyzes the question: what does it take for science parks and technology districts to evolve and grow? We propose an analytical framework to examine the gestation, evolution and sustainability of science parks and related but broader regional phenomena such as technology districts. The framework comprises three aspects of a science park’s development: growth mechanisms, level of tec...

It has been demonstrated that a complex division of labor provides for the diversity of knowledge that is critical for organizational innovation and productivity [Hage, J., 1999. Organizational innovation and organizational change. Annual Review of Sociology 25, 597–622]. This article examines the impact of complexity in an R&D setting and adopts the approach that collaborative research involve...

This paper presents an endogenous growth model in which some firms devote resources to developing higher quality products (innovative R&D) and other firms devote resources to copying these products (imitative R&D). Although consumers benefit from the knowledge created by both types of R&D activities, only innovative R&D subsidies lead to faster economic growth and imitative R&D subsidies actual...

in this paper, we consider singular and degenerate parabolic equations$$u_t =(x^alpha u_x)_x +u^m (x_0,t)v^{n} (x_0,t),quadv_t =(x^beta v_x)_x +u^q (x_0,t)v^{p} (x_0,t),$$ in $(0,a)times (0,t)$, subject to nulldirichlet boundary conditions, where $m,n, p,qge 0$, $alpha, betain [0,2)$ and $x_0in (0,a)$. the optimal classification of non-simultaneous and simultaneous blow-up solutions is determin...