A Text-Based Analysis of Corporate Innovation
Author
Abstract
Suggested Citation
DOI: 10.1287/mnsc.2020.3682
Download full text from publisher
References listed on IDEAS
- Manuel Trajtenberg, 1990. "A Penny for Your Quotes: Patent Citations and the Value of Innovations," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 172-187, Spring.
- Kathleen Weiss Hanley, 2010. "The Information Content of IPO Prospectuses," The Review of Financial Studies, Society for Financial Studies, vol. 23(7), pages 2821-2864, July.
- Leonid Kogan & Dimitris Papanikolaou & Amit Seru & Noah Stoffman, 2017.
"Technological Innovation, Resource Allocation, and Growth,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(2), pages 665-712.
- Leonid Kogan & Dimitris Papanikolaou & Amit Seru & Noah Stoffman, 2012. "Technological Innovation, Resource Allocation, and Growth," NBER Working Papers 17769, National Bureau of Economic Research, Inc.
- Cláudia Custódio & Miguel A. Ferreira & Pedro Matos, 2019. "Do General Managerial Skills Spur Innovation?," Management Science, INFORMS, vol. 65(2), pages 459-476, February.
- Bronwyn Hall & Christian Helmers & Mark Rogers & Vania Sena, 2014.
"The Choice between Formal and Informal Intellectual Property: A Review,"
Journal of Economic Literature, American Economic Association, vol. 52(2), pages 375-423, June.
- Hall, Bronwyn & Helmers, Christian & Rogers, Mark & Sena, Vania, 2014. "The Choice between Formal and Informal Intellectual Property: A Review," Department of Economics, Working Paper Series qt4271z78q, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Xuan Tian & Tracy Yue Wang, 2014. "Tolerance for Failure and Corporate Innovation," The Review of Financial Studies, Society for Financial Studies, vol. 27(1), pages 211-255, January.
- Asquith, Paul & Mikhail, Michael B. & Au, Andrea S., 2005. "Information content of equity analyst reports," Journal of Financial Economics, Elsevier, vol. 75(2), pages 245-282, February.
- Gerard Hoberg & Gordon Phillips, 2016.
"Text-Based Network Industries and Endogenous Product Differentiation,"
Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1423-1465.
- Gerard Hoberg & Gordon M. Phillips, 2010. "Text-Based Network Industries and Endogenous Product Differentiation," NBER Working Papers 15991, National Bureau of Economic Research, Inc.
- Nordhaus, William D, 1969.
"An Economic Theory of Technological Change,"
American Economic Review, American Economic Association, vol. 59(2), pages 18-28, May.
- William D. Nordhaus, 1969. "An Economic Theory of Technological Change," Cowles Foundation Discussion Papers 265, Cowles Foundation for Research in Economics, Yale University.
- Lauren Cohen & Karl Diether & Christopher Malloy, 2013. "Misvaluing Innovation," The Review of Financial Studies, Society for Financial Studies, vol. 26(3), pages 635-666.
- James R. Brown & Steven M. Fazzari & Bruce C. Petersen, 2009. "Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom," Journal of Finance, American Finance Association, vol. 64(1), pages 151-185, February.
- Petra Moser, 2012. "Innovation without Patents: Evidence from World's Fairs," Journal of Law and Economics, University of Chicago Press, vol. 55(1), pages 43-74.
- Hall, Bronwyn H. & Mairesse, Jacques & Mohnen, Pierre, 2010.
"Measuring the Returns to R&D,"
Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1033-1082,
Elsevier.
- Bronwyn H. Hall & Jacques Mairesse & Pierre Mohnen, 2009. "Measuring the Returns to R&D," NBER Working Papers 15622, National Bureau of Economic Research, Inc.
- Bronwyn H. Hall & Jacques Mairesse & Pierre Mohnen, 2010. "Measuring the Returns to R&D," CIRANO Working Papers 2010s-02, CIRANO.
- Hall, Bronwyn H. & Mairesse, Jacques & Mohnen, Pierre, 2010. "Measuring the Returns to R&D," MERIT Working Papers 2010-006, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Gerard Hoberg & Vojislav Maksimovic, 2015. "Redefining Financial Constraints: A Text-Based Analysis," The Review of Financial Studies, Society for Financial Studies, vol. 28(5), pages 1312-1352.
- Mann, William, 2018. "Creditor rights and innovation: Evidence from patent collateral," Journal of Financial Economics, Elsevier, vol. 130(1), pages 25-47.
- Casey Dougal & Joseph Engelberg & Diego García & Christopher A. Parsons, 2012. "Journalists and the Stock Market," The Review of Financial Studies, Society for Financial Studies, vol. 25(3), pages 639-679.
- Bodnaruk, Andriy & Loughran, Tim & McDonald, Bill, 2015. "Using 10-K Text to Gauge Financial Constraints," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 50(4), pages 623-646, August.
- Schankerman, Mark & Galasso, Alberto, 2015. "Patents Rights, Innovation and Firm Exit," CEPR Discussion Papers 10968, C.E.P.R. Discussion Papers.
- Mark Schankerman, 2015. "Patents Rights and Innovation by Small and Large Firms," STICERD - Economics of Industry Papers 54, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Teh, Yee Whye & Jordan, Michael I. & Beal, Matthew J. & Blei, David M., 2006. "Hierarchical Dirichlet Processes," Journal of the American Statistical Association, American Statistical Association, vol. 101, pages 1566-1581, December.
- Diego García, 2013. "Sentiment during Recessions," Journal of Finance, American Finance Association, vol. 68(3), pages 1267-1300, June.
- Bronwyn H. Hall & Nathan Rosenberg (ed.), 2010. "Handbook of the Economics of Innovation," Handbook of the Economics of Innovation, Elsevier, edition 1, volume 1, number 1.
- He, Jie (Jack) & Tian, Xuan, 2013. "The dark side of analyst coverage: The case of innovation," Journal of Financial Economics, Elsevier, vol. 109(3), pages 856-878.
- Lauren Cohen & Umit G. Gurun & Scott Duke Kominers, 2019.
"Patent Trolls: Evidence from Targeted Firms,"
Management Science, INFORMS, vol. 65(12), pages 5461-5486, December.
- Lauren Cohen & Umit Gurun & Scott Duke Kominers, 2014. "Patent Trolls: Evidence from Targeted Firms," NBER Working Papers 20322, National Bureau of Economic Research, Inc.
- Hoberg, Gerard & Lewis, Craig, 2017. "Do fraudulent firms produce abnormal disclosure?," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 58-85.
- Paul Goldsmith-Pinkham & Beverly Hirtle & David O. Lucca, 2016. "Parsing the content of bank supervision," Staff Reports 770, Federal Reserve Bank of New York.
- Gerard Hoberg & Gordon Phillips & Nagpurnanand Prabhala, 2014. "Product Market Threats, Payouts, and Financial Flexibility," Journal of Finance, American Finance Association, vol. 69(1), pages 293-324, February.
- Jacob Boudoukh & Ronen Feldman & Shimon Kogan & Matthew Richardson, 2013. "Which News Moves Stock Prices? A Textual Analysis," NBER Working Papers 18725, National Bureau of Economic Research, Inc.
- Tim Loughran & Bill Mcdonald, 2011. "When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks," Journal of Finance, American Finance Association, vol. 66(1), pages 35-65, February.
- Loh, Roger K. & Mian, G. Mujtaba, 2006. "Do accurate earnings forecasts facilitate superior investment recommendations?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 455-483, May.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Xu, Yong & Yuan, Ling & Khalfaoui, Rabeh & Radulescu, Magdalena & Mallek, Sabrine & Zhao, Xin, 2023. "Making technological innovation greener: Does firm digital transformation work?," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
- Filippini, Massimo & Leippold, Markus & Wekhof, Tobias, 2024.
"Sustainable finance literacy and the determinants of sustainable investing,"
Journal of Banking & Finance, Elsevier, vol. 163(C).
- Massimo Filippini & Markus Leippold & Tobias Wekhof, 2022. "Sustainable Finance Literacy and the Determinants of Sustainable Investing," Swiss Finance Institute Research Paper Series 22-02, Swiss Finance Institute.
- Yi Yang & Kunpeng Zhang & Yangyang Fan, 2023. "sDTM: A Supervised Bayesian Deep Topic Model for Text Analytics," Information Systems Research, INFORMS, vol. 34(1), pages 137-156, March.
- Xue Wen Tan & Stanley Kok, 2024. "Explainable Risk Classification in Financial Reports," Papers 2405.01881, arXiv.org, revised May 2024.
- Fengler, Matthias & Phan, Minh Tri, 2023. "A Topic Model for 10-K Management Disclosures," Economics Working Paper Series 2307, University of St. Gallen, School of Economics and Political Science.
- Li, Fengyu & Yang, Mozhu & Zhang, Tong, 2023. "Does prospectus readability matter for bond issuance pricing? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
- Jiang, Hongxun & Fan, Shaokun & Zhang, Nan & Zhu, Bin, 2023. "Deep learning for predicting patent application outcome: The fusion of text and network embeddings," Journal of Informetrics, Elsevier, vol. 17(2).
- Borchert, Philipp & Coussement, Kristof & De Weerdt, Jochen & De Caigny, Arno, 2024. "Industry-sensitive language modeling for business," European Journal of Operational Research, Elsevier, vol. 315(2), pages 691-702.
- Tang, Wenjin & Bu, Hui & Zuo, Yuan & Wu, Junjie, 2024. "Unlocking the power of the topic content in news headlines: BERTopic for predicting Chinese corporate bond defaults," Finance Research Letters, Elsevier, vol. 62(PA).
- Sun, Bing & Zhang, Yanfeng & Zhu, Kunyan & Mao, Hongying & Liang, Tian, 2024. "Is faster really better? The impact of digital transformation speed on firm financial distress: Based on the cost-benefit perspective," Journal of Business Research, Elsevier, vol. 179(C).
- Hertel, Tobias & Kaya, Devrimi & Reichmann, Doron, 2024. "Corporate culture and M&A deals: Using text from crowdsourced employer reviews to measure cultural differences," Journal of Banking & Finance, Elsevier, vol. 161(C).
- Jeon, Heung-Jae & Jung, Sumi, 2024. "Generalist vs. Specialist CEOs: R&D Investment Sensitivity to Stock Price," Finance Research Letters, Elsevier, vol. 62(PA).
- Xiao, Zumian & Wang, Shuhan & Zhang, Yepeng & Si, Deng-Kui, 2023. "Power of competition: Unraveling the impact of China's fair competition review system implementation on firm innovation," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1561-1581.
- Zheng, Panpan & Li, Zhen & Zhuang, Ziyin, 2024. "The impact of COVID-19 on corporate digital innovation in China: A study based on the DDD model," Finance Research Letters, Elsevier, vol. 59(C).
- Li, Zongru & Zhang, Xiaohan & Tao, Zhe & Wang, Binbin, 2024. "Enterprise digital transformation and supply chain management," Finance Research Letters, Elsevier, vol. 60(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Cookson, J. Anthony & Moon, S. Katie & Noh, Joonki, 2020. "Imprecise and Informative: Lessons from Market Reactions to Imprecise Disclosure," SocArXiv akt2c, Center for Open Science.
- Simon Fritzsch & Philipp Scharner & Gregor Weiß, 2021. "Estimating the relation between digitalization and the market value of insurers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(3), pages 529-567, September.
- Wu, Qiang & Dbouk, Wassim & Hasan, Iftekhar & Kobeissi, Nada & Zheng, Li, 2021. "Does gender affect innovation? Evidence from female chief technology officers," Research Policy, Elsevier, vol. 50(9).
- Stephen Glaeser & Jeremy Michels & Robert E. Verrecchia, 2020. "Discretionary disclosure and manager horizon: evidence from patenting," Review of Accounting Studies, Springer, vol. 25(2), pages 597-635, June.
- Machokoto, Michael & Gyimah, Daniel & Ntim, Collins G., 2021. "Do peer firms influence innovation?," The British Accounting Review, Elsevier, vol. 53(5).
- Hasan, Iftekhar & (Stan) Hoi, Chun-Keung & Wu, Qiang & Zhang, Hao, 2020. "Is social capital associated with corporate innovation? Evidence from publicly listed firms in the U.S," Journal of Corporate Finance, Elsevier, vol. 62(C).
- Xu, Zhaoxia, 2020. "Economic policy uncertainty, cost of capital, and corporate innovation," Journal of Banking & Finance, Elsevier, vol. 111(C).
- Bereskin, Fred & Hsu, Po-Hsuan & Latham, William & Wang, Huijun, 2023. "So Sue Me! The cross section of stock returns related to patent infringement allegations," Journal of Banking & Finance, Elsevier, vol. 148(C).
- Nguyen, Justin Hung & Qiu, Buhui, 2022. "Right-to-Work laws and corporate innovation," Journal of Corporate Finance, Elsevier, vol. 76(C).
- Filippo Mezzanotti, 2021. "Roadblock to Innovation: The Role of Patent Litigation in Corporate R&D," Management Science, INFORMS, vol. 67(12), pages 7362-7390, December.
- Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
- Gordon, Elizabeth A. & Hsu, Hsiao-Tang & Huang, Huichi, 2020. "Peer R&D disclosure and corporate innovation: Evidence from American depositary receipt firms," Advances in accounting, Elsevier, vol. 49(C).
- Hsu, Po-Hsuan & Tian, Xuan & Xu, Yan, 2014. "Financial development and innovation: Cross-country evidence," Journal of Financial Economics, Elsevier, vol. 112(1), pages 116-135.
- Ramiro Losada, 2022. "La información pública periódica de los fondos de inversión: como influyen en las decisiones de los inversores," CNMV Documentos de Trabajo CNMV Documentos de Trabaj, CNMV- Comisión Nacional del Mercado de Valores - Departamento de Estudios y Estadísticas.
- Ramana Nanda & William R. Kerr, 2015.
"Financing Innovation,"
Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 445-462, December.
- William R. Kerr & Ramana Nanda, 2014. "Financing Innovation," NBER Working Papers 20676, National Bureau of Economic Research, Inc.
- Kerr, William R. & Nanda, Ramana, 2015. "Financing innovation," Bank of Finland Research Discussion Papers 28/2015, Bank of Finland.
- Acharya, Viral & Xu, Zhaoxia, 2017.
"Financial dependence and innovation: The case of public versus private firms,"
Journal of Financial Economics, Elsevier, vol. 124(2), pages 223-243.
- Viral V. Acharya & Zhaoxia Xu, 2013. "Financial Dependence and Innovation: The Case of Public versus Private Firms," NBER Working Papers 19708, National Bureau of Economic Research, Inc.
- Acharya, Viral, 2014. "Financial Dependence and Innovation: The Case of Public versus Private Firms," CEPR Discussion Papers 9829, C.E.P.R. Discussion Papers.
- Tim Martens & Christoph J. Sextroh, 2021. "Analyst Coverage Overlaps and Interfirm Information Spillovers," Journal of Accounting Research, Wiley Blackwell, vol. 59(4), pages 1425-1480, September.
- Po-Hsuan Hsu & Hsiao-Hui Lee & Tong Zhou, 2022. "Patent Thickets, Stock Returns, and Conditional CAPM," Management Science, INFORMS, vol. 68(11), pages 8343-8367, November.
- Hassan, M. Kabir & Houston, Reza & Karim, M. Sydul, 2021. "Courting innovation: The effects of litigation risk on corporate innovation," Journal of Corporate Finance, Elsevier, vol. 71(C).
- El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane & Hou, Fangfang & Tong, Wilson H.S., 2023. "Social trust and firm innovation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
More about this item
Keywords
innovation; textual analysis; machine learning; natural language processing; latent Dirichlet allocation;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:67:y:2021:i:7:p:4004-4031. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.