Innovation in Times of Crisis: An Analysis of Firm Performance During the Financial Crisis
This thesis examines how innovation affects firm performance in the United States during the financial crisis in 2008. A difference-in-difference estimation combined with Coarsened Exact Matching is applied on a panel data set of 4,928 U.S. firms between 2004 and 2011. Two opposing theoretical frameworks concerning the outcome are used to state hypotheses regarding if innovative firms perform bett
