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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006
Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....
Persistent link: https://www.econbiz.de/10005791605
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Growth, Distance to Frontier and Composition of Human Capital
Aghion, Philippe; Meghir, Costas; Vandenbussche, Jérôme - C.E.P.R. Discussion Papers - 2005
innovation and imitation. We develop a theoretical model showing that skilled labour has a higher growth-enhancing effect closer … to the technological frontier under the reasonable assumption that innovation is a relatively more skill intensive …
Persistent link: https://www.econbiz.de/10005792394
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The Lifecycle of Regions
Audretsch, David B; Falck, Oliver; Feldman, Maryann P; … - C.E.P.R. Discussion Papers - 2008
routinized phase where innovation takes place within top-performing incumbents; (3) a second entrepreneurial phase characterized … routinization, in which no further innovation takes place, but is instead a phase of structural change. Using data on 74 West German …
Persistent link: https://www.econbiz.de/10005124213