Antitrust authorities both in the U.S. and in Europe have analyzed wide parts of the complex mechanisms used in the credit card industry to ensure the functioning of the systems. Such arrangements include the honor-all-cards rule, the no-discrimination rule, the price structures such as the...

Innovation policy is increasingly coming under the spotlight in the European Union, and has been given a prominent role in the EU 2020 strategy and in the flagship initiatives that will aim to ensure that Europe succeeds where the Lisbon strategy failed.In years to come, problems such as the...

The Google News case offers an enticing perspective for scholars interested in investigating the reasons that explain legal change. The case adds to the history of copyright and to the relationship between technological progress and regulatory responses, concurring to a possible reconstruction...

Italian company Cosmed has a reputation for laboratory-based medical device products which is founded on sound IP. The market is competitive, with a limited number of players, so reputation is critical to securing a leading role. Patents assure customers that products are innovative. They...

In this paper, we analyze the impact of privatization on the firms' R&D performance. We expect that, in the early period after privatization, path dependencies still negatively affect the efficiency of R&D operations. We test our hypothesis using a Tobin's q measure and estimating a hedonic...

This paper studies the interplay between two defining features of technology-based firms: licensing as a commercialization strategy and the reliance on equity financing. Within the context of an IPO, we argue that the technology commercialization strategy of a firm going public affects...

A correct assessment of the innovation activities is critical to firm performance. To this purpose, some authors have analyzed the relationship between innovation and firm's market value within a framework based on the real options theory. However, in these papers there is not an explicit...

We analyze whether stock markets value innovation by performing a meta-analysis of the empirical literature linking Ramp;D investments and firms' market value. While there is an increasing interest in the attention paid by financial markets to firm level innovation activities, the theoretical...