Vision and Radical Innovation: A Typology

2015 ◽  
pp. 133-153
Author(s):  
Susan E. Reid
Keyword(s):  
Radical Innovation

scholarly journals Missing Novelty in Drug Development

2021 ◽  
Author(s):  
Joshua Krieger ◽  
Danielle Li ◽  
Dimitris Papanikolaou
Keyword(s):  
Radical Innovation ◽  
Chemical Similarity ◽  
Net Worth ◽  
Drug Candidates ◽  
Pharmaceutical Firms ◽  
External Finance ◽  
Fda Approval ◽  
Novel Drugs ◽  
Positive Shock ◽  
Novel Drug

Abstract We provide evidence that risk aversion leads pharmaceutical firms to underinvest in radical innovation. We introduce a new measure of drug novelty based on chemical similarity and show that firms face a risk-reward trade-off: novel drug candidates are less likely to obtain FDA approval but are based on more valuable patents. Consistent with a simple model of costly external finance, we show that a positive shock to firms’ net worth leads firms to develop more novel drugs. This suggests that even large firms may behave as though they are risk averse, reducing their willingness to investment in potentially valuable radical innovation.

scholarly journals Radical innovation and its regional impact—a roadmap for future research

2021 ◽  
Author(s):  
David Audretsch ◽  
Dirk Fornahl ◽  
Torben Klarl
Keyword(s):  
Small Business ◽  
Regional Growth ◽  
Radical Innovation ◽  
Future Research ◽  
Special Issue ◽  
Business Economics ◽  
Regional Impact ◽  
Important Link ◽  
Nuanced Understanding

AbstractThe aim of this paper is to introduce the special issue of Small Business Economics on “Radical Innovation, Entrepreneurship, and (Regional) Growth” and present a roadmap for future research in the area. This article argues that the link between the literature on radical innovation, entrepreneurship, and (regional) growth is still an underresearched topic. This paper also reviews the special issue’s contributions that allow for a more nuanced understanding of this important link.

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