... G21 G23 G32 L25 O30 The advent of new technologies has innovated the firms’ funding processes, leading to the development and growing adoption of alternative finance tools especially by small and medium-sized enterprises (SMEs) (Farag and Johan, 2021). Despite SMEs are the core...

... M12 O30 Innovation has long been acknowledged as one of the major factors for a firm success (Elrehail et al., 2018 ; Woodman et al., 1993 ; Zacher and Rosing, 2015) and the economic growth of a country (Capello and Lenzi, 2014 ; Drucker, 1985 ; Pradhan et al...

... in the literature. Uncertainty Competition Deferred patent examination system Irreversible investment Real option D22 L19 O30 O34 To test this model, we exploit patent applications data at Korean Intellectual Patent Office (KIPO) during 2006–2009, and we incorporate it with firm financial...