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....

We develop a theory of innovation for entry and sale 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. Preemptive acquisitions by incumbents are shown to stimulate the...

We study the effects of managerial practices in schools on students' outcomes. We measure managerial practices using the World Management Survey, a methodology that enables us to construct robust measures of management quality comparable across countries. We find substantial heterogeneity in...

To stay on top of global competition, firms and governments often need to acquire innovative goods and services, including ideas and research, from their strategic suppliers. A careful design of procurement policy is crucial to make potential suppliers generate and sell the most suitable...

This paper studies the role of intrinsic motivation, reputation and reciprocity in driving open source software innovation. We exploit the observed pattern of contributions - the 'revealed preference' of developers - to infer the underlying incentives. Using detailed information on code...

The paper proposes the measurement of managerial and functional capabilities of the organization, as the dimensions of managerial potential, based on the configurative theory and not on the reductionist one. The components of the managerial potential are fulfilled by the capability of building...

Application software is one of the most important elements of any information system. The most recent trend in the field of the software is, undoubtedly, migration of classic applications from centralized computer architectures to network or distributed architectures. This migration as well as...

We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External...

The uniform pricing puzzle for vertically differentiated products states that a monopolist sells high and low quality products at the same price despite the fact that quality is perfectly observable and that there are no significant costs of adjusting prices. The puzzle is relevant for movies,...