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→Artz et al 2010
file = {Full Text PDF:C\:\\Users\\James Chen\\AppData\\Roaming\\Zotero\\Zotero\\Profiles\\g2eepc1b.default\\zotero\\storage\\KUT8ZJRF\\Artz et al. - 2010 - A Longitudinal Study of the Impact of R&D, Patents.pdf:application/pdf;Snapshot:C\:\\Users\\James Chen\\AppData\\Roaming\\Zotero\\Zotero\\Profiles\\g2eepc1b.default\\zotero\\storage\\2DHHBRNG\\abstract.html:text/html}
}
Uses COMPUSTAT data 1984 to 2004 to analyze relationship between firm performance and R&D/innovative activity.
*Measures innovative activity with patents and new product announcements.
*Measures firm performance with after tax ROA, sales growth 3-year moving average.
*Argues for increasing returns to scale in R&D spending.
*Also claims patents are negatively related to growth in this sample.
*Controls for year and industry (but not firm size, since it is correlated with R&D spending).
====Axelson 2013====
