Showing articles by Phillips, Gordon M.

U.S. Innovation and Chinese Competition for Innovation Production

In this paper, we examine how competitive shocks from China impact U.S. innovation through two distinct margins: the markets for innovation and existing products. 

Increasingly there has been a focus on the impact of China's meteoric rise as an economic power and its impact on the innovation spending by established…

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Education and Innovation:  The Long Shadow of the Cultural Revolution

How important is the education of CEOs to firm level innovation?  In this paper, we examine the human capital cost of an external loss of education on subsequent innovation by firms and ask if it impacted firms more than 30 years later.  We examine the ensuing innovation of Chinese firms…

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Venture Capital Investments and Merger and Acquisition Activity around the World

In this paper, we investigate what happens to venture capital investments when M&A activity is regulated.  The paper studies the interaction between venture capital (VC) activity and M&A activity in 40 different countries around the world.  
The initial idea for this paper came from an interesting story…

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Financing and New Product Decisions of Private and Publicly Traded Firms

Public Firms Are Increasingly Seeking Out Private Capital.

In our paper “Financing and New Product Decisions of Private and Publicly Traded Firms,” forthcoming in the Review of Financial Studies, we investigate how the financing decisions of firms respond to investment opportunities presented by Medicare NCDs. They found that public firms…

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