Managers would like to understand which strategies generate value in e-commerce environments, and researchers are just beginning to explore this issue. Which strategies are useful and which are not? In a step towards answering this question, we estimate the impacts of several competitive...

We use a simple model of collaborative innovation to structure an empirical analysis of minority equity links in biotechnology alliances between clients and Ramp;D firms. In the model, an equity link is an investment in information acquisition: it improves the ability of the client to learn...

We present evidence that event studies can help antitrust agencies forecast impacts of mergers on innovation. In large pharmaceutical mergers, cumulative abnormal returns on portfolios of rivals predict post-merger changes in the combined firm's R&D intensity. More favorable impacts on rivals...

As a first step towards understanding the evolution of small groups in firms, this paper develops and tests a simple decision-theoretic model of research-unit evolution in which, as managers resolve their uncertainty over time, they shut down under-performing units and remove under-performing...

This paper uses a stationary multivariate asymmetric GARCH specification of the international capital asset pricing model to investigate contagion effects across six developed and emerging East Asian markets as well as the US and the World markets around the time of the Asian currency crisis of...