{"id":"https://openalex.org/W7112416276","doi":"https://doi.org/10.1016/j.jbankfin.2026.107826","title":"Government Share Ownership and Innovation: Evidence from European Listed Firms","display_name":"Government Share Ownership and Innovation: Evidence from European Listed Firms","publication_year":2026,"publication_date":"2026-09-11","ids":{"openalex":"https://openalex.org/W7112416276","doi":"https://doi.org/10.1016/j.jbankfin.2026.107826"},"language":"en","primary_location":{"id":"doi:10.1016/j.jbankfin.2026.107826","doi":"https://doi.org/10.1016/j.jbankfin.2026.107826","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jbankfin.2026.107826","pdf_url":null,"source":{"id":"https://openalex.org/S2876017","display_name":"Journal of Banking & Finance","issn_l":"0378-4266","issn":["0378-4266","1872-6372"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Banking & Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.3150280","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":null,"display_name":"Bernardo Bortolotti","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I120250893","display_name":"New York University Abu Dhabi","ror":"https://ror.org/00e5k0821","country_code":"AE","type":"education","lineage":["https://openalex.org/I120250893","https://openalex.org/I57206974"]},{"id":"https://openalex.org/I55143463","display_name":"University of Turin","ror":"https://ror.org/048tbm396","country_code":"IT","type":"education","lineage":["https://openalex.org/I55143463"]},{"id":"https://openalex.org/I71209653","display_name":"Bocconi University","ror":"https://ror.org/05crjpb27","country_code":"IT","type":"education","lineage":["https://openalex.org/I71209653"]}],"countries":["AE","IT"],"is_corresponding":false,"raw_author_name":"Bernardo Bortolotti","raw_affiliation_strings":["Baffi Centre, Bocconi University, Via G. Roentgen 1, 20136, Milano, Italy","Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche, University of Turin, Corso Unione Sovietica 218, 10134 Torino, Italy","Stern School of Business at New York University Abu Dhabi, PO Box 129188, Saadiyat Island, Abu Dhabi (UAE)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Baffi Centre, Bocconi University, Via G. Roentgen 1, 20136, Milano, Italy","institution_ids":["https://openalex.org/I71209653"]},{"raw_affiliation_string":"Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche, University of Turin, Corso Unione Sovietica 218, 10134 Torino, Italy","institution_ids":["https://openalex.org/I55143463"]},{"raw_affiliation_string":"Stern School of Business at New York University Abu Dhabi, PO Box 129188, Saadiyat Island, Abu Dhabi (UAE)","institution_ids":["https://openalex.org/I120250893"]}]},{"author_position":"middle","author":{"id":null,"display_name":"Veljko Fotak","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I63190737","display_name":"University at Buffalo, State University of New York","ror":"https://ror.org/01y64my43","country_code":"US","type":"education","lineage":["https://openalex.org/I63190737"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Veljko Fotak","raw_affiliation_strings":["School of Management, University at Buffalo, 236 Jacobs Management Center, Buffalo, NY 14228"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, University at Buffalo, 236 Jacobs Management Center, Buffalo, NY 14228","institution_ids":["https://openalex.org/I63190737"]}]},{"author_position":"last","author":{"id":null,"display_name":"Brian Wolfe","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I12912129","display_name":"Northeastern University","ror":"https://ror.org/04t5xt781","country_code":"US","type":"education","lineage":["https://openalex.org/I12912129"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Brian Wolfe","raw_affiliation_strings":["Northeastern University, 116F Hayden Hall, Northeastern University, 360 Huntington Ave., Boston, MA 02115"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Northeastern University, 116F Hayden Hall, Northeastern University, 360 Huntington Ave., Boston, MA 02115","institution_ids":["https://openalex.org/I12912129"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I63190737"],"apc_list":{"value":3340,"currency":"USD","value_usd":3340},"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":14,"citation_normalized_percentile":{"value":0.00384339,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"192","issue":null,"first_page":"107826","last_page":"107826"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8740000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8740000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.06480000168085098,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12225","display_name":"Political Influence and Corporate Strategies","score":0.02889999933540821,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/state-ownership","display_name":"state ownership","score":0.9520000219345093},{"id":"https://openalex.org/keywords/state-owned-enterprises","display_name":"state-owned enterprises","score":0.6830000281333923},{"id":"https://openalex.org/keywords/innovation","display_name":"innovation","score":0.5929999947547913},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.9269999861717224},{"id":"https://openalex.org/keywords/financial-constraints","display_name":"financial constraints","score":0.796999990940094},{"id":"https://openalex.org/keywords/patent-citations","display_name":"patent citations","score":0.5759999752044678},{"id":"https://openalex.org/keywords/patent-quality","display_name":"patent quality","score":0.5609999895095825},{"id":"https://openalex.org/keywords/listed-companies","display_name":"listed companies","score":0.6340000033378601},{"id":"https://openalex.org/keywords/innovation-policy","display_name":"innovation policy","score":0.5460000038146973}],"concepts":[{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.757099986076355},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6973000168800354},{"id":"https://openalex.org/C162144332","wikidata":"https://www.wikidata.org/wiki/Q1665305","display_name":"Instrumental variable","level":2,"score":0.6437000036239624},{"id":"https://openalex.org/C17923572","wikidata":"https://www.wikidata.org/wiki/Q7250160","display_name":"Propensity score matching","level":2,"score":0.602400004863739},{"id":"https://openalex.org/C165064840","wikidata":"https://www.wikidata.org/wiki/Q1321061","display_name":"Matching (statistics)","level":2,"score":0.5281000137329102},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.526199996471405},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.4343999922275543},{"id":"https://openalex.org/C2994191172","wikidata":"https://www.wikidata.org/wiki/Q2396633","display_name":"Public ownership","level":2,"score":0.4097000062465668},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.4043000042438507},{"id":"https://openalex.org/C6571938","wikidata":"https://www.wikidata.org/wiki/Q3274486","display_name":"Omitted-variable bias","level":2,"score":0.36090001463890076},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3562999963760376},{"id":"https://openalex.org/C182365436","wikidata":"https://www.wikidata.org/wiki/Q50701","display_name":"Variable (mathematics)","level":2,"score":0.33160001039505005},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.32359999418258667},{"id":"https://openalex.org/C109986646","wikidata":"https://www.wikidata.org/wiki/Q546113","display_name":"Public policy","level":2,"score":0.32350000739097595},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.31040000915527344},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.30869999527931213},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.3068999946117401},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.2953999936580658},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.29010000824928284},{"id":"https://openalex.org/C63143784","wikidata":"https://www.wikidata.org/wiki/Q7885121","display_name":"Political risk","level":3,"score":0.2572999894618988},{"id":"https://openalex.org/C62908951","wikidata":"https://www.wikidata.org/wiki/Q1320217","display_name":"Central government","level":3,"score":0.25110000371932983}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1016/j.jbankfin.2026.107826","doi":"https://doi.org/10.1016/j.jbankfin.2026.107826","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jbankfin.2026.107826","pdf_url":null,"source":{"id":"https://openalex.org/S2876017","display_name":"Journal of Banking & Finance","issn_l":"0378-4266","issn":["0378-4266","1872-6372"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Banking & Finance","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.3150280","doi":"https://doi.org/10.2139/ssrn.3150280","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3150280","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:baf:cbafwp:cbafwp1872","doi":null,"is_oa":false,"landing_page_url":"https://repec.unibocconi.it/baffic/baf/papers/cbafwp1872.pdf","pdf_url":"https://repec.unibocconi.it/baffic/baf/papers/cbafwp1872.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:iris.unito.it:2318/1895217","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/2318/1895217","pdf_url":"https://iris.unito.it/bitstream/2318/1895217/1/GOF%20and%20Innovation.pdf","source":{"id":"https://openalex.org/S4306400637","display_name":"Institutional Research Information System University of Turin (University of Turin)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I55143463","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/I55143463"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},{"id":"pmh:oai:iris.unito.it:2318/2117880","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/2318/2117880","pdf_url":"https://iris.unito.it/bitstream/2318/2117880/5/GOF%20and%20Innovation.pdf","source":{"id":"https://openalex.org/S4306400637","display_name":"Institutional Research Information System University of Turin (University of Turin)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I55143463","host_organization_name":"University of Turin","host_organization_lineage":["https://openalex.org/I55143463"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.2139/ssrn.3150280","doi":"https://doi.org/10.2139/ssrn.3150280","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3150280","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/9","display_name":"Industry, innovation and infrastructure","score":0.651199996471405},{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions","score":0.5473999977111816}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320313203","display_name":"New York University Abu Dhabi","ror":"https://ror.org/00e5k0821"},{"id":"https://openalex.org/F4320320300","display_name":"European Commission","ror":"https://ror.org/00k4n6c32"},{"id":"https://openalex.org/F4320323716","display_name":"Universit\u00e0 Bocconi","ror":"https://ror.org/05crjpb27"},{"id":"https://openalex.org/F4320328827","display_name":"BAFFI CAREFIN","ror":null},{"id":"https://openalex.org/F4320332641","display_name":"University at Buffalo","ror":"https://ror.org/01y64my43"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":121,"referenced_works":["https://openalex.org/W116661317","https://openalex.org/W1487115151","https://openalex.org/W1507782914","https://openalex.org/W1532153741","https://openalex.org/W1562652446","https://openalex.org/W1572089375","https://openalex.org/W1588257358","https://openalex.org/W1903915823","https://openalex.org/W1922007532","https://openalex.org/W1966635053","https://openalex.org/W1971554984","https://openalex.org/W1971782430","https://openalex.org/W1979984511","https://openalex.org/W1989864366","https://openalex.org/W1991428446","https://openalex.org/W2011956646","https://openalex.org/W2014579129","https://openalex.org/W2016293597","https://openalex.org/W2021980906","https://openalex.org/W2022123842","https://openalex.org/W2024366946","https://openalex.org/W2026197177","https://openalex.org/W2030132760","https://openalex.org/W2034279466","https://openalex.org/W2050324156","https://openalex.org/W2050395776","https://openalex.org/W2062190617","https://openalex.org/W2066444910","https://openalex.org/W2067179086","https://openalex.org/W2076970407","https://openalex.org/W2077401456","https://openalex.org/W2080157908","https://openalex.org/W2082154278","https://openalex.org/W2083404070","https://openalex.org/W2087868853","https://openalex.org/W2088765659","https://openalex.org/W2095104412","https://openalex.org/W2095221159","https://openalex.org/W2096027253","https://openalex.org/W2097907128","https://openalex.org/W2101169073","https://openalex.org/W2103097556","https://openalex.org/W2110537446","https://openalex.org/W2113942631","https://openalex.org/W2118258539","https://openalex.org/W2123140473","https://openalex.org/W2124115302","https://openalex.org/W2136373676","https://openalex.org/W2142831770","https://openalex.org/W2144413950","https://openalex.org/W2147331394","https://openalex.org/W2162926137","https://openalex.org/W2169946440","https://openalex.org/W2197363930","https://openalex.org/W2200978348","https://openalex.org/W2237963336","https://openalex.org/W2259746667","https://openalex.org/W2262187434","https://openalex.org/W2276664011","https://openalex.org/W2320723619","https://openalex.org/W2530259327","https://openalex.org/W2533449097","https://openalex.org/W2567416142","https://openalex.org/W2587578636","https://openalex.org/W2730380495","https://openalex.org/W2763666301","https://openalex.org/W2781954011","https://openalex.org/W2794658688","https://openalex.org/W2889627345","https://openalex.org/W2900839158","https://openalex.org/W2913632793","https://openalex.org/W2948864865","https://openalex.org/W3022774728","https://openalex.org/W3037901734","https://openalex.org/W3042460881","https://openalex.org/W3044495345","https://openalex.org/W3121239116","https://openalex.org/W3121264934","https://openalex.org/W3121441566","https://openalex.org/W3121513665","https://openalex.org/W3121525009","https://openalex.org/W3121644316","https://openalex.org/W3121707495","https://openalex.org/W3121767774","https://openalex.org/W3121786372","https://openalex.org/W3121817381","https://openalex.org/W3122082991","https://openalex.org/W3122419721","https://openalex.org/W3122536485","https://openalex.org/W3122666126","https://openalex.org/W3122703928","https://openalex.org/W3122778236","https://openalex.org/W3122795471","https://openalex.org/W3122831506","https://openalex.org/W3122977891","https://openalex.org/W3122979628","https://openalex.org/W3123055067","https://openalex.org/W3123300962","https://openalex.org/W3123611892","https://openalex.org/W3123695678","https://openalex.org/W3123757519","https://openalex.org/W3123838682","https://openalex.org/W3123971031","https://openalex.org/W3124259699","https://openalex.org/W3124773175","https://openalex.org/W3124995899","https://openalex.org/W3125217951","https://openalex.org/W3125224137","https://openalex.org/W3125258775","https://openalex.org/W3125268367","https://openalex.org/W3125558204","https://openalex.org/W3125572384","https://openalex.org/W3125916378","https://openalex.org/W3133549299","https://openalex.org/W3143195668","https://openalex.org/W3147421935","https://openalex.org/W3188530411","https://openalex.org/W4211141187","https://openalex.org/W4237149723","https://openalex.org/W4238774791","https://openalex.org/W4256043025"],"related_works":["https://openalex.org/W2517482198","https://openalex.org/W3122565725","https://openalex.org/W2980518300","https://openalex.org/W7098219286","https://openalex.org/W2176644262","https://openalex.org/W7056738033","https://openalex.org/W7055882040","https://openalex.org/W7061108135","https://openalex.org/W2062190617","https://openalex.org/W2620646771"],"abstract_inverted_index":null,"counts_by_year":[{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":6}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2025-12-10T00:00:00"}