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The hold-up problem, innovations, and limited liability

Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2012

An inventor can invest research effort to come up with an innovation. Once an innovation is made, a contract is …

Persistent link: https://www.econbiz.de/10011084016

Employment Protection Legislation, Multinational Firms and Innovation

Griffith, Rachel; Macartney, Gareth - C.E.P.R. Discussion Papers - 2010

The theoretical effects of labour regulations such as employment protection legislation (EPL) on innovation is … technologically advanced innovation. In this paper we find empirical evidence that both effects are at work - multinational … innovation in countries with low EPL. …

Persistent link: https://www.econbiz.de/10008530372

Product Market Reform and Innovation in the EU

Griffith, Rachel; Harrison, Rupert; Simpson, Helen - C.E.P.R. Discussion Papers - 2006

, innovation and economic growth. We provide empirical evidence that the reforms carried out under the EU Single Market Programme … with a subsequent increase in innovation intensity and productivity growth for manufacturing sectors. In our analysis we … reforms on average profitability, and the effects of profitability on innovation and productivity growth. …

Persistent link: https://www.econbiz.de/10005136744

Exclusive versus Non-exclusive Licensing Strategies and Moral Hazard

Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2007

An upstream firm can license its innovation to downstream firms that have to exert further development effort. There …

Persistent link: https://www.econbiz.de/10005497972

The Effects of Entry on Incumbent Innovation and Productivity

Aghion, Philippe; Blundell, Richard William; Griffith, … - C.E.P.R. Discussion Papers - 2005

How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … sectors which differ by their distance to the technological frontier. We show that entry threat spurs innovation incentives in … technologically advanced sectors - successful innovation allows incumbents to prevent entry. In laggard sectors it discourages …

Persistent link: https://www.econbiz.de/10005114280

Task Scheduling and Moral Hazard

Mylovanov, Tymofiy; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2007

We study a two-period moral hazard problem with risk-neutral and wealth-constrained agents and three identical tasks. We show that the allocation of tasks over time is important if there is a capacity constraint on the number of tasks that can be performed in one period. We characterize the...

Persistent link: https://www.econbiz.de/10005067477

Incentives and Managerial Experience in Multi-Task Teams: Evidence from Within a Firm

Griffith, Rachel; Neely, Andrew - C.E.P.R. Discussion Papers - 2007

This paper exploits a quasi-experimental setting to estimate the impact that a multi-dimensional group incentive scheme had on branch performance in a large distribution firm. The scheme, which is based on the Balanced Scorecard, was implemented in all branches in one division, but not in...

Persistent link: https://www.econbiz.de/10005662113

Corporate taxes and the location of intellectual property

Griffith, Rachel; Miller, Helen; O'Connell, Martin - C.E.P.R. Discussion Papers - 2011

The literature suggests that tax rates on mobile activities should fall to zero. Intellectual property is very mobile and has grown in importance. Firms can use intellectual property to shift income offshore and reduce their corporate income tax liability. Yet most intellectual property is held...

Persistent link: https://www.econbiz.de/10009644034

Is Distance Dying at Last? Falling Home Bias in Fixed Effects Models of Patent Citations

Griffith, Rachel; Lee, Sokbae; Van Reenen, John - C.E.P.R. Discussion Papers - 2007

We examine the 'home bias' of international knowledge spillovers as measured by the speed of patent citations (i.e. knowledge spreads slowly over international boundaries). We present the first compelling econometric evidence that the geographical localization of knowledge spillovers has fallen...

Persistent link: https://www.econbiz.de/10005666550

Allocating Control in Agency Problems with Limited Liability and Sequential Hidden Actions

Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2005

This paper discusses the optimal organization of sequential agency problems with contractible control actions under limited liability. In each of two stages, a risk-neutral agent can choose an unobservable effort level. A success in the first stage makes effort in the second stage more...

Persistent link: https://www.econbiz.de/10005791951