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Profit Taxation, Innovation and the Financing of Heterogeneous Firms
Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2010
endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …: (i) R&D subsidies not only encourage innovation but also relax finance constraints and help innovative firms to exploit … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …
Persistent link: https://www.econbiz.de/10008468605
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Optimal Public Policy for Venture Capital Backed Innovation
Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2003
regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …
Persistent link: https://www.econbiz.de/10005497714
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Investments in Pharmaceuticals Before and After TRIPS
Kyle, Margaret K; McGahan, Anita M - C.E.P.R. Discussion Papers - 2011
This paper addresses the relationship between patent protection and investment in the development of new pharmaceutical treatments. The TRIPS Agreement, which specifies minimum levels of intellectual property protection for countries in the World Trade Organization, has increased levels of...
Persistent link: https://www.econbiz.de/10009002387
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Innovation, Trade, and Finance
Egger, Peter; Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2011
This paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Innovative firms are more productive, have larger investment opportunities and lower own funds for necessary tangible continuation investments than non-innovating firms. As a result, they are...
Persistent link: https://www.econbiz.de/10009150949
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Inefficiencies in technology transfer: theory and empirics
Allain, Marie-Laure; Henry, Emeric; Kyle, Margaret K - C.E.P.R. Discussion Papers - 2011
Markets for technology can promote innovation by allowing for division of labor in research and development. Some firms …
Persistent link: https://www.econbiz.de/10008854505