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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2009
sales price of a developed innovation. This will trigger preemptive acquisitions by incumbents, thus increasing the reward …
Persistent link: https://www.econbiz.de/10005025461
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The Real Effects of Private Equity Buyouts
Tåg, Joacim - Institutet för Näringslivsforskning (IFN) - 2010
Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...
Persistent link: https://www.econbiz.de/10008548989
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Venture Capitalists, Asymmetric Information, and Ownership in the Innovation Process
Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - Institutet för Näringslivsforskning (IFN) - 2008
' signaling-driven investment, despite the risk of buying a bad innovation. We finally show at what point the presence of active …
Persistent link: https://www.econbiz.de/10005419514
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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists, and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2004
The starting point of this paper is that the 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...
Persistent link: https://www.econbiz.de/10005645429
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Why Entrepreneurs Choose Risky R&D Projects - But Still Not Risky Enough
Färnstrand Damsgaard, Erika; Norbäck, Pehr-Johan; … - Institutet för Näringslivsforskning (IFN) - 2012
Entrepreneurs face higher commercialization costs than incumbents. We show that this implies that entrepreneurs will choose more risky projects than incumbents, aiming to reduce their high expected marginal commercialization cost. However, entrepreneurs may select too safe projects from a social...
Persistent link: https://www.econbiz.de/10010818447
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Innovative Change, Dynamic Market Allocation and Long-Term Stability of Economic Growth
Eliasson, Gunnar - Institutet för Näringslivsforskning (IFN) - 1986
Market competition is central to innovative activity, the diffusion process and macro-economic productivity growth. Productivity growth at all levels comes about through institutional reconfiguration in response to the ongoing market process. Stable and sustained long-term growth in output...
Persistent link: https://www.econbiz.de/10010818448
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Creative Destruction and Productive Preemption
Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - Institutet för Näringslivsforskning (IFN) - 2009
We develop a theory of commercialization mode (entry or sale) of entrepreneurial inventions into oligopoly, and show that an invention of higher quality is more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Moreover, preemptive...
Persistent link: https://www.econbiz.de/10004964394
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Entrepreneurship and the Theory of Taxation
Henrekson, Magnus; Sanandaji, Tino - Institutet för Näringslivsforskning (IFN) - 2008
entrepreneurial effort, entrepre-neurial innovation and capital investment. Because of these constraints, the entrepreneurial project …
Persistent link: https://www.econbiz.de/10005082489
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Entrepreneurial Commercialization Choices and the Interaction between IPR and Competition Policy
Gans, Joshua S.; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2012
entrepreneurs with respect to commercialization as well as the rate of innovation. We find that stronger intellectual property … them. Consequently, we demonstrate that competition policy has a clearer role in promoting a higher rate of innovation in … increasing the rate of entrepreneurial innovation. …
Persistent link: https://www.econbiz.de/10009399310
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Entrepreneurial Innovations and Taxation
Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2012
growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation … project and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the … fundamental policy trade-off between the declared goals of promoting employment and innovation in small, entrepreneurial firms …
Persistent link: https://www.econbiz.de/10009399312