오종민 교수

We show that technology spillovers shift the composition of corporate research and development by promoting innovation based on the exploitation of existing knowledge while disincentivizing innovation that explores new areas and breaks new ground. Accordingly, firms facing large technology spillovers attain fewer superstar inventors among their human capital, who are important drivers of breakthrough technology advancement. These findings complement the existing studies documenting the positive

Abstract We show that the similarity of a firm’s technological expertise with that of other firms affects managerial labor market outcomes. Using each firm’s patent portfolio to estimate its technological expertise, we find that its similarity in technological expertise with other firms is strongly related to the benchmark group used for CEO compensation and job transitions. Furthermore, we show that a firm’s CEO pay is positively associated with the CEO compensation levels of technologically si

Abstract We study the relation between CEO restricted stock, CEO incentives, and firm innovation. We first show that restricted stock is negatively associated with R&D investment. We also show that CEO restricted stock is positively related to the number of patents granted and citations received. However, further investigation shows that CEO restricted stock has a positive relation with firm exploitation but a negative relation with firm exploration and breakthrough innovation. The results s

Institutional investors have become the largest ownership group of public equity in the US and worldwide. Despite the relevance of institutional ownership for corporate innovation and the vast literature on this relationship, the dominant theoretical frameworks provide conflicting predictions about this relationship. Empirical studies of the relationship between institutional ownership and corporate innovation have also found conflicting results. Beyond conflicting empirical results, the failure

In power management integrated circuits (PMICs) designed for low-voltage operation, particularly in mobile applications, overcoming the trade-off between on-state breakdown voltage (on-BV) and specific on-resistance <tex xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">$(\mathrm{R}_{\text{on},\text{sp}})$</tex> in N-type power array CMOS remains a critical challenge. Conventional approaches, such as minimizing the distance to the P-body tap (Ptap), fall s