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Argenton, Cédric; Willems, Bert - Tilburg University, Center for Economic Research - 2009

It is well established that an incumbent firm may use exclusivity contracts so as to monopolize an industry or deter … negative effects (exclusion) of exclusivity contracts. We revisit the seminal model of Aghion and Bolton (1987) under risk …-aversion and show that although exclusivity contracts induce optimal risk-sharing, they can be used not only to deter the entry of …

Persistent link: https://www.econbiz.de/10011091743

Cross-Border Exposures and Financial Contagion

Degryse, Hans; Penas, María Fabiana; Elahi, M.A. - Tilburg University, Center for Economic Research - 2009

Integrated financial markets provide opportunities for expansion and improved risk sharing, but also pose threats of contagion risk through cross-border exposures. This paper examines cross-border contagion risk over the period 1999-2006. To that purpose we use aggregate cross-border exposures...

Persistent link: https://www.econbiz.de/10011090344

Determinants of Banking System Fragility : A Regional Perspective

Degryse, Hans; Penas, María Fabiana; Elahi, M.A. - Tilburg University, Center for Economic Research - 2012

Abstract: Banking systems are fragile not only within one country but also within and across regions. We study the role of regional banking system characteristics for regional banking system fragility. We find that regional banking system fragility reduces when banks in the region jointly hold...

Persistent link: https://www.econbiz.de/10011092510

Network Embeddedness and the Exploration of Novel Technologies : Technological Distance, Betweenness Centrality and Density

Duysters, Geert; Nooteboom, B.; Gilsing, V.A.; … - Tilburg University, Center for Economic Research - 2006

In this paper we analyze the innovative performance of alliance networks as a function of the technological distance between partners, a firm's network position (centrality) and total network density.We study how these three elements of an alliance network, apart and in combination, affect the...

Persistent link: https://www.econbiz.de/10011090286

The Role of Institutional Support in Energy Technology Diffusion in Rural China

Groenendaal, Willem van; Zhang, X.L. - Tilburg University, Center for Economic Research - 2001

In the past China's rural areas, home to 70% of its population, suffered energy shortages.China's indigenous energy resources are limited, with the exception of coal.The widespread use of coal requires large investments in production and transport -making it costly-, and degrades the...

Persistent link: https://www.econbiz.de/10011090918

Anti-takeover Provisions as a Source of Innovation and Value Creation

Humphery-Jenner, M. - Tilburg University, Center for Economic Research - 2011

Managers are risk averse. Excessive risk-aversion can destroy shareholder wealth. A key source of risk is the threat of an opportunistic takeover designed to take advantage of depressed market prices. This is especially the case in innovative or hard-to-value (`HtV') companies whose price may be...

Persistent link: https://www.econbiz.de/10011091215

Strategic Technology Adoptation Taking into Account Future Technological Improvements : A Real Options Approach

Huisman, Kuno; Kort, Peter - Tilburg University, Center for Economic Research - 2000

This paper studies a dynamic duopoly in which firms compete in the adoption of new technologies. The innovation process is exogenous to the firms. Both firms have the possibility to adopt a current technology or to wait for a better technology that arrives at an unknown point of time in the...

Persistent link: https://www.econbiz.de/10011091330

A Further Analysis on Strategic Timing of Adoption of New Technologies under Uncertainty

Huisman, Kuno; Kort, Peter - Tilburg University, Center for Economic Research - 1998

In this paper we analyze technology adoption in the context of a duopoly, where the time between adoption and successful implementation is uncertain. This framework is taken from Stenbacka and Tombak, and as such it adds uncertainty to the much cited work of Fudenberg and Tirole. The analysis is...

Persistent link: https://www.econbiz.de/10011091538

Optimal Cognitive Distance and Absorptive Capacity

Duysters, Geert; Nooteboom, B.; Vanhaverbeke, W.P.M.; … - Tilburg University, Center for Economic Research - 2006

In this paper we test the relation between cognitive distance and innovation performance of firms engaged in technology-based alliances.The key finding is that the hypothesis of an inverted U-shaped effect of cognitive distance on innovation performance of firms is confirmed.Moreover, as...

Persistent link: https://www.econbiz.de/10011091844

Cognitive Distance in and Between COP’s and Firms : Where do Exploitation and Exploration take Place, and How are they Connected?

Nooteboom, B. - Tilburg University, Center for Economic Research - 2007

This paper contributes to the analysis of where and how both exploitation and exploration may take place inside and between communities and organizations. It connects with the discussion of differences between communities of practice and epistemic communities. The analysis allows for differences...

Persistent link: https://www.econbiz.de/10011092178