Handbook of Research on New Product Development
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Handbook of Research on New Product Development

Edited by Peter N. Golder and Debanjan Mitra

New products are the major driver of revenue growth in today's dynamic business environment. In this Handbook, the world's foremost experts on new product development bring together the latest thinking on this vitally important topic. These thought-leading authors organize knowledge into useful and insightful frameworks covering all aspects of new product development: companies, collaborators, customers, context, markets, and performance. Managers will benefit from the handbook by expanding their knowledge of new product development and researchers will learn about opportunities to continue expanding on this body of knowledge.
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Chapter 16: Firm innovation and the stock market

Simone Wies and Christine Moorman

Abstract

Innovation is a rich area of investigation that offers interesting theoretical questions with important practical implications. Studying innovation in the context of the stock market reveals an institutional environment that simultaneously rewards innovation and establishes incentives that reduce its likelihood. This chapter examines both how firm innovation affects stock market outcomes and how the stock market affects firm innovation. These dual forces offer novel and potentially powerful theoretical opportunities while also posing important empirical challenges. The authors outline these opportunities and challenges to encourage more researchers into this important and interesting part of the field.

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