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Using data on over 900 firms for the period 1988-2000, we estimate the effect on phase-specific biotech and pharmaceutical R&D success rates of a firm's overall experience, its experience in the relevant therapeutic category; the diversification of its experience, and alliances with large and...
Persistent link: https://www.econbiz.de/10012469083
In this paper, we examine the determinants of control rights in technology strategic alliances between biotechnology firms and pharmaceutical corporations, as well as with other biotechnology firms. We undertake three clinical studies and an empirical analysis of 200 contracts. Consistent with...
Persistent link: https://www.econbiz.de/10012472804
urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with …
Persistent link: https://www.econbiz.de/10012462656
this trend will continue. Based on our analysis, we conjecture that even if Europe might benefit from a continuation of the …, the trend is likely to benefit Southern Europe less than Northern Europe …
Persistent link: https://www.econbiz.de/10012469104
We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks sorted into the densest markets, but...
Persistent link: https://www.econbiz.de/10014512110
In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …. We argue instead that NBFI and bank businesses and risks are so interwoven that they are better described as having … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages …
Persistent link: https://www.econbiz.de/10014528356
A binding interest rate cap on household savings is a common form of financial repression in developing economies and typically benefits banks. Using proprietary data from a leading Chinese FinTech company, we study Fintech's role in ending financial repression in China through the introduction...
Persistent link: https://www.econbiz.de/10012696357
. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a … the bank faces a tradeoff between provision of insurance and maintenance of private incentives …
Persistent link: https://www.econbiz.de/10012477783