Schroth, Enrique; Szalay, Dezsö - Départment d'économétrie et d'économie politique … - 2005
incumbent and an entrant. We develop a model where cash-constrained firms finance their R&D expenditures with an investor who …-constrained he is and the more cash-constrained the entrant is. We use NBER evidence from pharmaceutical patents awarded between 1975 …