Name:

Description:

Firm-level panel data on innovation and institutional ownership from 1991 to 1999 over 803 firms. The observations refer to different firms over different years.

Variables:

A data frame containing 3289 observations on 26 variables.

company

factor. Company names.

sales

numeric. Sales (in millions of dollars).

acompetition

numeric. Constant inverse Lerner index.

competition

numeric. Varying inverse Lerner index.

capital

numeric. Net stock of property, plant, and equipment.

cites

integer. Future cite-weighted patents.

precites

numeric. Presample average of cite-weighted patents.

dprecites

factor. Indicates zero precites.

patents

integer. Granted patents.

drandd

factor. Indicates a zero R&D stock.

randd

numeric. R&D stock (in millions of dollars).

employment

numeric. Employment (in 1000s).

sp500

factor. Membership of firms in the S&P500 index.

tobinq

numeric. Tobin's q.

value

numeric. Stock market value.

institutions

numeric. Proportion of stock owned by institutions.

industry

factor. Four-digit industry code.

year

factor. Estimation period.

top1

numeric. Share of the largest institution.

quasiindexed

numeric. Share of "quasi-indexed" institutional owners.

nonquasiindexed

numeric. Share of "non-quasi-indexed" institutional owners.

transient

numeric. Share of "transient" institutional owners.

dedicated

numeric. Share of "dedicated" institutional owners.

competition4

numeric. Varying inverse Lerner index in the firm's four-digit industry.

subsample

factor. Subsample for the replication of columns 1–5 from Table 4 in Aghion et al. (2013).

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References/Notes/Attributions:

Source

Data and online appendix of Aghion et al. (2013).

References

Aghion P, Van Reenen J, Zingales L (2013). “Innovation and Institutional Ownership.” The American Economic Review, 103(1), 277–304. doi: 10.1257/aer.103.1.277

Berger S, Stocker H, Zeileis A (2017). “Innovation and Institutional Ownership Revisited: An Empirical Investigation with Count Data Models.” Empirical Economics, 52(4), 1675–1688. doi: 10.1007/s00181-016-1118-0

Blundell R, Griffith R, Van Reenen J (1999). “Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms.” Review of Economic Studies, 66(3), 529–554.

Bushee B (1998). “The Influence of Institutional Investors on Myopic R&D Investment Behavior.” Accounting Review, 73(3), 655–679.

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