References of "Balsmeier, Benjamin 50027039"
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See detailHeterogeneous Innovation over the Business Cycle
Manso, Gustavo; Balsmeier, Benjamin UL; Fleming, Lee

in Review of Economics and Statistics (2022)

Schumpeter (1939) claims that recessions are periods of “creative destruction,” concentrating innovation that is useful for the long-term growth of the economy. However previous research finds that ... [more ▼]

Schumpeter (1939) claims that recessions are periods of “creative destruction,” concentrating innovation that is useful for the long-term growth of the economy. However previous research finds that standard measures of firms’ innovation, such as R&D expenditures or raw patent counts, concentrate in booms. We argue that these measures do not capture shifts in firms’ innovative search strategies. We contemplate firms’ choice between exploration vs. exploitation over the business cycle and find evidence with more nuanced measures of patent characteristics that firms shift towards exploration during contractions and exploitation during expansions, with a stronger effect for firms in more cyclical industries. [less ▲]

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See detailInnovation Search Strategy and Predictable Returns
Fitzgerald, Tristan; Balsmeier, Benjamin UL; Fleming, Lee et al

in Management Science (2021), 67(2), 1109-1137

Because of the intangible and highly uncertain nature of innovation, investors may have difficulty processing information associated with a firm’s innovation search strategy. Due to cognitive and strategic ... [more ▼]

Because of the intangible and highly uncertain nature of innovation, investors may have difficulty processing information associated with a firm’s innovation search strategy. Due to cognitive and strategic biases, investors are likely to pay more attention to unfamiliar explorative patents rather than incremental exploitative patents. We find that innovative firms focusing on exploitation rather than exploration tend to generate superior subsequent short-term operating performance. Analysts do not seem to detect this, as firms currently focused on exploitation tend to outperform the market’s near-term earnings expectations. The stock market also seems unable to accurately incorporate information about a firm’s innovation search strategy. We find that firms with exploitation strategies are undervalued relative to firms with exploration strategies and that this return differ-ential is incremental to standard risk and innovation-based pricing factors examined in the prior literature. This result suggests a more nuanced view on whether stock market pressure hampers innovation, and may have implications for optimal firm financing choices and corporate disclosure policy. [less ▲]

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See detailEarly Disclosure of Invention and Reduced Duplication: An Empirical Test
Lück, Sonja; Balsmeier, Benjamin UL; Seliger, Florian et al

in Management Science (2020)

Much work on innovation strategy assumes or theorizes that competition in innovation elicits duplication of research and that disclosure decreases such duplication. We validate this empirically using the ... [more ▼]

Much work on innovation strategy assumes or theorizes that competition in innovation elicits duplication of research and that disclosure decreases such duplication. We validate this empirically using the American Inventors Protection Act (AIPA), three complementary identification strategies, and a new measure of blocked future patent applications. We show that AIPA—intended to reduce duplication, through default disclosure of patent applications 18 months after filing—reduced duplication in the U.S. and European patent systems. The blocking measure provides a clear and micro measure of technological competition that can be aggregated to facilitate the empirical investigation of innovation, firm strategy, and the positive and negative externalities of patenting. [less ▲]

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See detailIs This Time Different? How Digitalization Influences Job Creation and Destruction
Balsmeier, Benjamin UL; Wörter, Martin

in Research Policy (2019), 48(8),

With the process of digitalization now in full swing, many are wondering how the adoption of new technologies influences job creation and destruction. Much hinges upon the specific tasks that machines ... [more ▼]

With the process of digitalization now in full swing, many are wondering how the adoption of new technologies influences job creation and destruction. Much hinges upon the specific tasks that machines take on and how many new tasks are created through the adoption of new digital technologies. Some argue that most tasks that are at risk of automation are those performed by rather low- to medium-skilled employees, while most new tasks that emerge from the adoption of digital technologies complement high-skilled labor. We present evidence derived from representative survey data from Switzerland that is consistent with this view. Specifically, we find that increased investment in digitalization is associated with increased employment of high-skilled workers and reduced employment of low-skilled workers, with a slightly positive net effect. The main effects are almost entirely driven by firms that employ machine-based digital technologies, e.g. robots, 3D printing or the Internet of Things. We do not find any significant employment effects when non-machine-based digital technologies are considered, e.g. ERP, e-commerce or cooperation support systems. [less ▲]

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See detailThe impact of skilled immigrants on their local teammates’ performance
Balsmeier, Benjamin UL; Hickfang, Michael; Frick, Bernd

in Applied Economics Letters (2019)

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See detailMachine learning and natural language processing on the patent corpus: data, tools, and new measures
Balsmeier, Benjamin UL; Li, Guan-Cheng; Assaf, Mohamad et al

in Journal of Economics and Management Strategy (2018), 27

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See detailOwnership Concentration, Institutional Development and Firm Performance in Central and Eastern Europe
Balsmeier, Benjamin UL; Czarnitzki, Dirk

in Managerial and Decision Economics (2017), 38

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See detailIndependent Boards and Innovation
Balsmeier, Benjamin UL; Manso, Gustavo; Fleming, Lee

in Journal of Financial Economics (2017), 123

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See detailGewerkschaftlicher Einfluss auf F&E-Investitionen in KMU
Balsmeier, Benjamin UL; Hickfang, Michael

in ZfKE: Zeitschrift für KMU und Entrepreneurship (2017), 65

Detailed reference viewed: 129 (5 UL)
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See detailInternational Financial Reporting Standards and Private Firms’ Access to Bank Loans
Balsmeier, Benjamin UL; Vanhaverbeke, Steven

in European Accounting Review (2016)

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See detailHow Much Does It Cost to be a Scientist?
Balsmeier, Benjamin UL; Pellens, Maikel

in Journal of Technology Transfer (2016), 41

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See detailDoes Patenting Help or Hinder Open Innovation? Evidence from New Technology Organizations in the Solar Industry
Zobel, Ann-Kristin; Balsmeier, Benjamin UL; Chesbrough, Henry

in Industrial and Corporate Change (2016), 25

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See detailWho Promotes More Innovations? Outside versus Inside Hired CEOs
Balsmeier, Benjamin UL; Buchwald, Achim

in Industrial and Corporate Change (2015), 24

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See detailExecutive Turnover and Outside Directors on Two-Tiered Boards
Balsmeier, Benjamin UL; Buchwald, Achim; Dilger, Alexander

in Managerial and Decision Economics (2015), 36

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See detailOutside Directors on the Board and Innovative Firm Performance
Balsmeier, Benjamin UL; Buchwald, Achim; Stiebale, Joel

in Research Policy (2014)

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See detailWho Makes, Who Breaks: Which Scientists Stay in Academe?
Balsmeier, Benjamin UL; Pellens, Maikel

in Economics Letters (2014), 122

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See detailThe Influence of Top Management Corporate Networks on CEO Succession
Balsmeier, Benjamin UL; Buchwald, Achim; Zimmermann, Stefan

in Review of Managerial Science (2013), 7

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See detailCorporate Governance and Employee Power in the Boardroom – An Applied Game Theoretic Analysis
Balsmeier, Benjamin UL; Bermig, Andreas; Dilger, Alexander

in Journal of Economic Behavior and Organization (2013), 91

Detailed reference viewed: 152 (2 UL)