Showing 1 - 10 of 10
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …
Persistent link: https://www.econbiz.de/10010877893
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
defend their monopoly position and prevent innovation and entry of high-quality competitors. This requires that the incumbent … quality upgrade related to innovation. Consistently with our empirical findings, the model delivers a negative association …
Persistent link: https://www.econbiz.de/10005765682
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
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
-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale …
Persistent link: https://www.econbiz.de/10009024844
We empirically investigate whether the persistence of politicians in political institutions affects the innovation …’ innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …
Persistent link: https://www.econbiz.de/10008853864
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
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
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