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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

How Licensing Resolves Hold-Up: Evidence from a Dynamic Panel Data Model with Unobserved Heterogeneity

Siebert, Ralph; von Graevenitz, Georg - C.E.P.R. Discussion Papers - 2006

This paper is a study of licensing in a patent thicket. In a patent thicket licensing allows firms to avoid hold-up. It will have different effects on firms' R&D incentives depending on whether firms license existing or future patents. Building on a model of a patent portfolio race, firms'...

Persistent link: https://www.econbiz.de/10005504462

The Impact of R&D Subsidies on the Introduction of New Products by Incumbent Firms

Siebert, Ralph - C.E.P.R. Discussion Papers - 2003

This Paper analyses the impact of R&D subsidies on incumbent firms to introduce new goods. We are especially interested in investigating various consequences of government subsidies for R&D, provided to firms that offer products of different qualities. This study examines the incentives of...

Persistent link: https://www.econbiz.de/10005504784

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

Jostling for Advantage: Licensing and Entry into Patent Portfolio Races

Siebert, Ralph; von Graevenitz, Georg - C.E.P.R. Discussion Papers - 2006

Licensing in a patent thicket allows firms to either avoid or resolve hold-up. Firms’ R&D incentives depend on whether they license ex ante or ex post. We develop a model of a patent portfolio race, which allows for endogenous R&D efforts, to study firms’ choice between ex ante and ex post...

Persistent link: https://www.econbiz.de/10005661516