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This paper surveys recent findings about how the financial markets value the knowledge assets of publicly traded firms. The motivation for using market value equation to price knowledge assets is discusssed and the theory behind this equation is briefly presented. Then the empirical literature...
Persistent link: https://www.econbiz.de/10005413048
Persistent link: https://www.econbiz.de/10005556053
We consider innovation incentives in markets where final goods comprise two strictly complementary components, one of … innovation is important. We explore ways in which the monopoly may have incentives to confiscate efficiency rents in the … competitive sector, thus weakening or destroying incentives for independent innovation. We discuss how these problems are affected …
Persistent link: https://www.econbiz.de/10005556060
Physical telecom networks are costly and few, traditionally to the point of monopoly. Innovation thrives with many … service innovation efficiently. But this incentive breaks down ex post as M can extract an independent J's quasi …) purports to get the best of both worlds (BoBW). But it seems so hard to implement in innovation markets that one might construe …
Persistent link: https://www.econbiz.de/10005134558
The contribution of new technology to economic growth can only be realized when and if the new technology is widely diffused and used. Diffusion itself results from a series of individual decisions to begin using the new technology, decisions which are often the result of a comparison of the...
Persistent link: https://www.econbiz.de/10005062434
Evidence on the "funding gap" for R&D is surveyed. The focus is on financial market reasons for underinvestment in R&D that persist even in the absence of externality-induced underinvestment. The conclusions are that 1) small and new innovative firms experience high costs of capital that are...
Persistent link: https://www.econbiz.de/10005134931
, especially in the area of technological innovation and international competition has been hotly debated in the recent past. The …
Persistent link: https://www.econbiz.de/10005413030
A small sample of 38 Advanced Technology Projects funded between 1993 and 1996 are surveyed to explore the reasons for university non-participation, or, in the cases where they did participate, whether the partnerships encountered any difficulties from their participation. 32 percent report that...
Persistent link: https://www.econbiz.de/10005118757