Incentives to Innovate and the Decision to Go Public or Private

By Daniel Ferreira, Gustavo Manso, Andre C. Silva. 2014

363 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/958de18b5a64fdcfc52225cfb122e0ecd030ed14

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Citations in the corpus

Corporate Innovation Along the Supply Chain (2018, positive): “The theoretical work by Ferreira et al. (2014) builds on Manso (2011) and shows that private ownership structure is more tolerant of failures and thus facilitates innovation.”
Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership (2017, neutral): “Ferreira, Manso, and Silva (2014) argue that the stock market pressures managers to select projects that are easy to communicate to investors.”
Corporate Venture Capital, Value Creation, and Innovation (2014, neutral): “Further, CVC portfolio firms are more likely to go public (Gompers and Lerner 2000; Gompers 2002), obtain higher valuation at the IPO date (Ivanov and Xie 2010), attract more reputable financial market players during the IPO process, and have better post-IPO long-run stock returns (Chemmanur, Loutsk”
Financial development and innovation: Cross-country evidence (2014, background): “Holmstrom (1989), in a simple principle-agent model, shows that innovation activities may mix poorly with routine activities in an organization. Manso (2011) argues that managerial contracts that tolerate failure in the short run and reward success in the long run are best suited for motivating inno”
What Affects Innovation More: Policy or Policy Uncertainty? (2017, neutral): “…for investments in research and development (R&D), given that innovation is the exploration of unknown approaches and untested methods (Holmstrom (1989), Aghion and Tirole (1994), Manso (2011), and Ferreira, Manso, and Silva (2014)) that require considerable investment in intangible assets.”
Financial Dependence and Innovation: The Case of Public Versus Private Firms (2017, neutral): “Moreover, with the assumption of observable cash flows and no tolerance for failures in public companies, Ferreira et al. (2014) develop a model to demonstrate that managers of public companies are rationally biased against innovative projects, which typically have a higher failure rate.”
Credit Supply and Corporate Innovation (2013, background): “Indeed, funding innovation with public capital can provide sensitive information to competitors (Bhattacharya and Ritter, 1983; Maksimovic and Pichler, 2001), or it can be costly to the manager because of low tolerance for failure in the public markets (Ferreira et al., 2012).”
Do Antitakeover Provisions Spur Corporate Innovation? A Regression Discontinuity Analysis (2018, neutral): “Francis and Smith (1995) find that firms with either a high concentration of management ownership are more innovative.”
Do corporate taxes hinder innovation (2017, neutral): “…(2009); Acharya, Baghai, and Subramanian (2013, 2014); Manso (2011); Fang, Tian, and Tice (2014); Nanda and Rhodes-Kropf (2013); Amore, Schneider, and aldokas (2013); Chava, Oettl, Subramanian, and Subramanian (2013); Cornaggia, Mao, Tian, and Wolfe (2015), and Ferreira, Manso, and Silva (2014).”