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Essays On Innovation, Analyst Coverage, And Corporate Finance, Yang Liu
Essays On Innovation, Analyst Coverage, And Corporate Finance, Yang Liu
Dissertations, Theses, and Capstone Projects
This dissertation consists of three chapters that encompass corporate innovation, analyst coverage, public firm disclosure, and institutional investors.
Innovation Under Stress, Zhaojun Huang
Innovation Under Stress, Zhaojun Huang
Dissertations, Theses, and Capstone Projects
The aim of the dissertation is to explore firms’ innovation strategies during certain stressful periods. This dissertation consists of 3 chapters. . .
Chapter 1: Innovation Diversification Under Policy Uncertainty
Using detailed data on patent grants and applications, I explore the effect of policy uncertainty on firms’ innovation strategies. I show that firms that invest in R&D tend to pursue more diversified strategies and are more likely to explore unfamiliar fields during periods of policy uncertainty. These findings hold after adjusting for possible sample-selection bias using variation from patent examiners’ historical approval rates, and after adjusting for potential endogeneity using …