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firms because it lowers the probability they win the innovation contest for that project; however, the investment of a firm …
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rival market. We show that this strategic effect dominates the usual "innovation for buyout effect" when the entrant …'s bargaining power is below a threshold. Allowing for acquisitions may improve the direction of innovation of each of the players …
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. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and …
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This study analyses 1400 research projects of the top 20 R&D-spending pharmaceuticals to identify the determinants of successful research projects. We provide clear evidence that externally sourced projects and projects involving biotechnologies perform better than internal projects and chemical...
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rather than training workers to enhance innovation performance. …
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