Innovation and Incentives: Evidence from Corporate R&D

By Josh Lerner, Julie Wulf. Review of Economics and Statistics, 2007

363 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/27371c9290a8aaad665728552664feae10335aa0

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Citations in the corpus

Is Pay for Performance Detrimental to Innovation? (2009, neutral): “Long-term incentives for the heads of research and development departments are also associated with more heavily cited patents as shown by Lerner and Wulf (2007), while short-term incentives are unrelated to measures of innovation. Tolerance for early failure is also important in entrepreneurial set”
Make, buy, organize: The interplay between research, external knowledge, and firm structure† (2014, neutral): “More recently, a small literature on the structure of R&D has explored how the resource allocation decision is related to the centralization or decentralization of R&D (e.g. Argyres and Silverman, 2004; Lerner and Wulf, 2007).”
What Affects Innovation More: Policy or Policy Uncertainty? (2017, neutral): “This viewpoint is widely accepted in contemporary empirical studies for the determinants of innovation in high-tech industries (e.g., Lerner and Wulf (2007), Aghion et al. (2013), and Bloom, Schankerman, and Van Reenen (2013)).”
Entrepreneurial Finance Meets Organizational Reality: Comparing Investment Practices and Performance of Corporate and Independent Venture Capitalists (2010, neutral): “We know that firms’ performance is positively tied to the compensation of division managers and R&D unit heads (Hoskisson et al, 1993; Lerner and Wulf, 2006).”
The Impact of Stakeholder Orientation on Innovation: Evidence from a Natural Experiment (2016, neutral): “…the long run, employees and managers generally prefer to invest in short-term projects, unless provided with long-term incentives, such as long-term compensation (Ederer and Manso 2013, Holthausen et al. 1995, Lerner and Wulf 2007), or funding policies with long-term horizons (Azoulay et al. 2011).”
Do Antitakeover Provisions Spur Corporate Innovation? A Regression Discontinuity Analysis (2018, positive): “tions of Manso (2011) includes Ederer and Manso (2012), who conduct a controlled laboratory experiment; Azoulay, Graff Zivin, and Manso (2011), who exploit key differences across funding streams within the academic life sciences; and Tian and Wang (2014), who show that IPO firms financed by more fai”
Top Management Human Capital, Inventor Mobility, and Corporate Innovation (2018, neutral): “Some of these characteristics are managerial compensation (e.g., Lerner and Wulf (2007), Ederer and Manso (2013)), public versus private status (see e.g., Bernstein (2015) for an empirical analysis and Ferreira, Manso, and Silva (2014) and Spiegel and Tookes (2016) for theoretical analyses),…”
How does hedge fund activism reshape corporate innovation? (2016, neutral): “companies; and Becht, Franks, Mayer, and Rossi (2009) , and Becht, Franks, Grant, and Wagner (2017) for non-U.”
Varieties in state capitalism and corporate innovation: Evidence from an emerging economy (2021, neutral): “Both indicators have been widely used in the innovation literature to capture innovation capacity (Griliches, 1990; Lerner and Wulf, 2007; Fan et al., 2017; Tan et al., 2020, among others).”
How should we divide the pie? Equity distribution and its impact on entrepreneurial teams ☆ (2015, neutral): “Most research focusing on equity ownership in entrepreneurial firms has addressed the distribution of equity with respect to investors or other helpers outside of thefirm (Gompers and Lerner, 1998; Hellmann, 1998; Kotha andGeorge, 2012; Lerner et al., 1995).”
Managerial Incentives, CEO Characteristics and Corporate Innovation in China’s Private Sector (2011, neutral): “Those output measures include the number of patents granted (Griliches, 1990; Balkin, et al, 2000; Argyres and Silverman, 2004; Lerner and Wulf, 2007) and patent forward citations (Lerner and Wulf, 2007; Hall, Jaffe and Trajtenberg, 2001).”
Do General Managerial Skills Spur Innovation? (2017, neutral): “2 Lerner and Wulf (2007), Francis, Hasan, and Sharma (2011), and Tian and Wang (2012) provide evidence consistent with this idea.”