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Venture Capital, Patenting, and Usefulness of Innovations

Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - C.E.P.R. Discussion Papers - 2011

We analyze incentives to develop entrepreneurial ideas for venture capitalists (VCs) and incumbent firms. If VCs are sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs acquire valuable ideas, develop them beyond the level...

Persistent link: https://www.econbiz.de/10009643508

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

Entrepreneurial Innovations, Entrepreneurship Policy and Globalization

Douhan, Robin; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2010

What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies....

Persistent link: https://www.econbiz.de/10008530366

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

Creative Destruction and Productive Preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - C.E.P.R. Discussion Papers - 2011

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …

Persistent link: https://www.econbiz.de/10008865973

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

Entrepreneurial innovations and taxation

Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012

entrepreneurs’ choice of riskiness (quality) of an innovation project, and on their mode of commercializing the innovation (market …

Persistent link: https://www.econbiz.de/10011083431

Acquisitions, Entry, and Innovation in Network Industries

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim Ingemar - C.E.P.R. Discussion Papers - 2013

option of selling to an incumbent increases innovation incentives for entrepreneurs when network effects are strong and … necessarily restrict innovation incentives. We also show that network effects promote acquisitions over entry and that the … entrepreneur has strong incentives to invest in the initial user base of the innovation. …

Persistent link: https://www.econbiz.de/10011083667