NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Innovation and Institutional Ownership

Philippe Aghion, John Van Reenen, Luigi Zingales

NBER Working Paper No. 14769
Issued in March 2009

---- Acknowledgements -----

We would like to thank Tim Besley, Patrick Bolton, Florian Ederer, Oliver Hart, Mark Saunders, David Scharfstein, Jean Tirole, and participants in seminars at the New Orleans AEA, Chicago, CIAR, LSE, MIT/Harvard, NBER, Stanford and ZEW Mannheim for helpful comments and assistance. Brian Bushee, Darin Clay, Adair Morse and Ray Fisman have been extremely generous with their comments and helping us with their data. Van Reenen gratefully acknowledges the financial support of the ESRC through the Center for Economic Performance, Zingales the Initiative on Global Markets and the Stigler Center at the University of Chicago. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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