Over the last decade, companies have paid greater attention to the management of their intellectual assets. We build a model that helps understand how licensing activity should be organized within large corporations. More specifically, we compare decentralization--where the business unit using...

We study how the inventive capability of a firm conditions its participation in a division of innovative labor. Capable firms are, by definition, able to invent; for them, external inventions substitute for their own R&D. However, external knowledge is an input into internal invention, and thus,...

Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality inventions, reliance on science may enhance gains from...

In modern knowledge driven economies, firms are increasingly aware that individual and collective knowledge is a major factor of economic performance. The larger the firms and the stronger their connection with technology intensive industries, the more are they likely to set up knowledge...

This paper analyzes the relationship between output, employment, and physical and R&D capital, for a sample of 133 large U.S. firms covering the years 1966 through 197. In the cross sectional dimension, there is a strong relationship between firm productivity and the level of its R&D...

This paper studies the impact of process and product innovations introduced by firms on employment growth in these firms. A simple model that relates employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products is developed and estimated...

In this paper we study how the existence of a functioning market for technology differentially conditions the entry strategy and survival of different types of entrants, and the role of scale, marketing ability and technical assets. Markets for technology facilitate entry of firms that lack...