In this paper we describe three different algorithms, from which two (as far as we know) are new in the literature. We take both the size of the jump as the jump times as decision variables. The first (new) algorithm considers an Impulse Control problem as a (multipoint) Boundary Value Problem...

Investments in Ramp;D can influence a firm's ability to develop new products and to create and adopt innovative technologies that may enhance productivity. However, due to uncertainty regarding the outcome, investments in Ramp;D may lead to an agency problem between the owners and the managers...

My note, titled For the People and by the People: A New Proposal for Defining Industry Standards in Computer Software, focuses on the increasingly contentious world of standard setting organizations (SSOs) in the software and hardware industries, where industry leaders and upstarts alike jostle...

We examine the evolution of biotechnology clusters in Germany between 1996 and 2003, paying particular attention to their composition in terms of venture capital, basic science institutions, and biotechnology firms. Drawing upon the significance of co-location of quot;money and ideasquot;, the...

One important market related capability for firms which seek to develop radical innovations is the competence to involve the 'right' users at the 'right' time in the 'right' form. While former studies have identified a rather passive role of users in the radical innovation process, this paper...

This study investigates the impact of Internet usage on the financial performance of residential real estate brokerage firms using a database of over 1,700 observations. Factor loadings and a factor score for Internet usage are developed. The results show that Internet use is positively related...

While many firms compete through the development of new technologies and products, it is well known that new-to-the-world innovation is inherently risky and therefore may increase the probability of firm death. However, many existing studies consistently find a negative association between...

This paper studies how pharmaceutical research and development (Ramp;D) investment responds to publicly supported biomedical research performed mainly in universities and non-profit institutions. New micro-level data on investment by the U.S. National Institutes of Health allow measures of...

Multinational enterprises (MNEs) are increasingly conducting Ramp;D in countries such as China and India, where intellectual property rights (IPR) protection is still far from adequate. This paper examines the puzzle. I argue that weak IPR leads to low returns to innovation and underutilization...

Together with the number of patents and the value of Ramp;D expenditures, scientific measures of patent quality give investors a useful basis upon which to judge the economic merit of the firm's inventive and innovative activity. Especially in the case of small cap and relatively low P/E high...