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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

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

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

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

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

Venture Capital and Knowledge Transfer

Dessí, Roberta; Yin, Nina - C.E.P.R. Discussion Papers - 2015

communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the …This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can … entrepreneur's innovative knowledge to other portfolio companies. We study the costs and benefits of these two forms of knowledge …

Persistent link: https://www.econbiz.de/10011168896

Innovation, Spillovers and Venture Capital Contracts

Dessí, Roberta - C.E.P.R. Discussion Papers - 2012

Innovative start-ups and venture capitalists are highly clustered, benefiting from localized spillovers: Silicon Valley is perhaps the best example. There is also substantial geographical variation in venture capital contracts: California contracts are more 'incomplete'. This paper explores the...

Persistent link: https://www.econbiz.de/10011084393