论文题目：Innovation Choice and Firm Size
论文摘要：In the conventional studies, large firms tend to emphasize more on process innovation than product innovation. This study explores factors that could indicate a distinct pattern of firms’ innovation-size relationship: threshold size that implies a positive effect of firm size on the probability of product innovation success; cannibalization effect that creates incentives for large firm to favor product innovations; and financial constraints that have differential effects given different firm sizes. Hypothesis about a non-monotonic relationship between the proportion of product innovation and firm size is tested with nonlinear and dynamic econometric models. For large firms, empirical evidence shows product innovations result in an overall larger share of new products in total sales, relative to existing products in which process innovations are rooted.
报告人简介：曾蓓，美国夏威夷太平洋大学商学院金融学副教授，2009年获美国新奥尔良大学金融经济学博士学位。研究领域包括公司治理、业绩评估与估值，房地产金融和国际金融等方面，研究结果发表于期刊如 Managerial Finance, Journal of Accounting and Finance。