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The free-rider problem and the optimal duration of research joint ventures: theory and evidence from the Eureka program

Miyagiwa, Kaz; Sissoko, Aminata - Department of Economics, Florida International University - 2013

A research joint venture (RJV) faces a serious free-rider problem because its participants¡¯ contributions are mostly unobservable. We first present a model that shows that a RJV solves this problem by pre-committing to its termination date. Our analysis shows that there is an optimal...

Persistent link: https://www.econbiz.de/10010842958

Varieties of Governance

Driver, Ciaran - In: Recherches économiques de Louvain 74 (2008) 4, pp. 425-453

current performance or a more long-term focus for firms. A brief review of recent US governance reforms is given as a backdrop …

Persistent link: https://www.econbiz.de/10005560160

Corporate Leverage and Product Differentiation Strategy

Arping, Stefan; Lóránth, Gyöngyi - C.E.P.R. Discussion Papers - 2002

We explore the joint determination of product differentiation strategy and corporate leverage in a setting where (i) product differentiation is valued by customers; (ii) debt is necessary to discipline managers; and (iii) liquidation is costly for customers, in particular, when products are...

Persistent link: https://www.econbiz.de/10005661660

Venture Capitalists, Asymmetric Information and Ownership in the Innovation Process

Fabrizi, Simona; Lippert, Steffen; Norback, Pehr-Johan; … - Volkswirtschaftliche Fakultät, … - 2007

This paper constructs a model where entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We first show that aggressive development of a basic innovation by better informed...

Persistent link: https://www.econbiz.de/10005835952

Nouvelles entreprises de biotechnologies et géographie de l'innovation, des fondateurs à leur modèle d'entreprise

Catherine, David; Corolleur, Frédéric - In: Revue d'économie régionale et urbaine décembre (2001) 5, pp. 785-808

This article proposes an analytical framework regarding the geography of innovation by Dedicated Biotechnology Firms. The framework is based on the comparison of 61 French DBF?s and their 129 founders. Four distinct business models are drawn from the empirical material. Each corresponds to a...

Persistent link: https://www.econbiz.de/10011020166

Public Programs, Innovation, and Firm Performance in Chile

Alvarez, Roberto; Crespi, Gustavo; Cuevas, Conrado - Inter-American Development Bank - 2012

productivity, but the impact is heterogeneous across programs and indicators of firm performance. …

Persistent link: https://www.econbiz.de/10010653084

Mobility of ideas for innovation: The role of inventor-specific knowledge flows

Koski, Heli; Pajarinen, Mika - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2015

words, the larger the knowledge pool of an inventor entering (leaving) the firm, the more the firm’s innovation performance … pharmaceuticals and mechanical engineering such that the mobility of an inventor to a firm increases its innovation performance but … the mobility of an inventor from a firm does not affect its innovation performance. We further find that particularly …

Persistent link: https://www.econbiz.de/10011115239

Effect Of Firm Innovation On Labour Force Csomposition: The Case Of Italian Manufacturing

Nardis, Sergio De; Ventura, Marco - In: Economics Bulletin 32 (2012) 1, pp. 338-353

This paper investigates the causal relationship between innovation and labour force reallocation within the firm, measured as the share of white collar workers. To the extent that intra-firm reallocation can be considered as a substitute for inter-firms and sectors reallocations, innovation...

Persistent link: https://www.econbiz.de/10009421695

Growing out of the Crisis: Hidden Assets to Greece's Transition to an Innovation Economy

Herrmann, Benedikt; Kritikos, Alexander S. - Institute for the Study of Labor (IZA) - 2013

Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With an economy based primarily on tourism, trade, and agriculture, Greece lacks an established competitive industry and an innovation-friendly environment, resulting in a low export...

Persistent link: https://www.econbiz.de/10010884121

Long-term effects of subsidies on firm growth: introducing the concept of outcome additionality

Goerke, Björn; Albers, Sönke - 2016

Public agencies provide subsidies for small and medium sized businesses (SMEs) to foster their development in terms of employment and sales. Although input and output additionality have been researched intensively little is known about the actual long-term effects of subsidies on SME growth....

Persistent link: https://www.econbiz.de/10011487009