The DOI matches its Crossref record; 70 of the 70 references it cites were found in a registry or an index.
Innovation Strategy of Private Firms
Open accessAbstract
We compare innovation strategies of public and private firms based on a large sample over the period 1997–2008. We find that public firms’ patents rely more on existing knowledge, are more exploitative, and are less likely in new technology classes, while private firms’ patents are broader in scope and more exploratory. We investigate whether these strategies are due to differences in firm information environments, CEO risk preferences, firm life cycles, corporate acquisition policies, or investment horizons between these two groups of firms. Our evidence suggests that the shorter investment horizon associated with public equity markets is a key explanatory factor.
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Cites
The cornerstones of competitive advantage: A resource‐based view
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Levinthal, D. A., & March, J. G. (1993) · Strategic Management Journal · doi:10.1002/smj.4250141009 · Cited by 7,283
The economic implications of corporate financial reporting
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2005.01.002 · Cited by 6,316
Fama, E. F., & French, K. R. (1997) · Journal of Financial Economics · doi:10.1016/s0304-405x(96)00896-3 · Cited by 5,669
Matching as an econometric evaluation estimator: Evidence from evaluating a job training programme
Heckman, J. J., Ichimura, H., & Todd, P. E. (1997) · The Review of Economic Studies · doi:10.2307/2971733 · Cited by 5,486
Exploration vs. Exploitation: An Empirical Test of the Ambidexterity Hypothesis
He, Z.-L., & Wong, P.-K. (2004) · Organization Science · doi:10.1287/orsc.1040.0078 · Cited by 3,737
CEO Overconfidence and Corporate Investment
MALMENDIER, U., & TATE, G. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00813.x · Cited by 3,669
SOMETHING OLD, SOMETHING NEW: A LONGITUDINAL STUDY OF SEARCH BEHAVIOR AND NEW PRODUCT INTRODUCTION.
Katila, R., & Ahuja, G. (2002) · Academy of Management Journal · doi:10.2307/3069433 · Cited by 3,640
Finance, entrepreneurship and growth
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The Influence of Institutional Investors on Myopic R&D Investment BehaviorPreprint
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Cited by
Finance and Corporate Innovation: A Survey
He, J. (., & Tian, X. (2018) · Asia-Pacific Journal of Financial Studies · doi:10.1111/ajfs.12208 · Cited by 282
Incremental vs. Breakthrough Innovation: The Role of Technology Spillovers
Byun, S. K., Oh, J.-M., & Xia, H. (2021) · Management Science · doi:10.1287/mnsc.2019.3507 · Cited by 264
Metadata
- Authors
- Gao, H., Hsu, P.-H., & Li, K.
- Venue
- Journal of Financial and Quantitative Analysis
- Publisher
- Cambridge University Press (CUP)
- Published
- 2017-12-28
- Volume
- 53
- Issue
- 1
- Pages
- 1-32
- ISSN
- 0022-1090 (ISSN-L)
- 1756-6916
- OpenAlex
- W3124228608
- Cited by
- 253
- References
- 70
- FWCI
- 26.11
- Type
- journal article
- Language
- en
- Open access
- bronze
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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