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One way that firms attempt to innovate is through investment in R&D activity. However, there is much heterogeneity in innovations among firms making comparable R&D investments. This article explores employee ownershipʼs moderating effect on the relationship between R&D intensity and innovative output. The basis for the moderation is that ownership increases motivation and commitment to the innovation agenda of the company, and retains employeesʼ entrepreneurial efforts for internal opportunities. Using hierarchical regression, the data support the hypothesis that employee stock ownership positively moderates the relationship between R&D intensity and innovative output. Implications for future research and practice are addressed.

In this brief introduction, we reflect on the diversity of studies connecting cognition to innovation and the enormous potential that exists for further research. Research streams on cognition in organizations, innovation in organizations, and intra- and entrepreneurship have developed in parallel over the past decades, with frequent touchpoints, notably in terms of theories of cognition informing studies on the processes of innovation and creativity. Cognition theories have thus been considered as micro-foundations of many theories of innovation. Here, we outline the many ways that theories of cognition can yield insights for studies of innovation and discuss the contributions of chapters comprising this third volume of New Horizons in Managerial and Organizational Cognition.