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Thakor, R., & Lo, A. (2022). Competition and R&D Financing: Evidence from the Biopharmaceutical Industry. Journal of Financial and Quantitative Analysis, 57, 1885-1928.
https://doi.org/10.1017/S0022109021000284

has been cited by the following article:

• TITLE: Does Market Competition Affect Environmental Innovation? Some International Evidence

  AUTHORS: Ioannis Chasiotis, Georgios Georgakopoulos, Kanellos Toudas

  KEYWORDS: Market Competition, Innovation, Environmental Innovation, Schumpeter, Logistic Regressions

  JOURNAL NAME: Theoretical Economics Letters, Vol.13 No.5, August 31, 2023

  ABSTRACT: This study explores whether market competition affects firms’ propensity for environmental innovation. The sample is an international panel of 25,833 firm-year observations from international, non-financial, listed firms, between 2002 and 2022. Using a binary logistic regression model and several measures of market competition, we document that firms in competitive markets are more likely to engage in environmental innovation. Our findings support the “escape the competition effect”, where companies, vis-à-vis market competition, strive to form competitive advantages.