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) competition in the development and marketing of the resulting product. The competitive interactions that occur substantially … these interactions. Implementation of the model shows that competition in R&D, in general, not only increases production and …
Persistent link: https://www.econbiz.de/10013115937
We provide a theoretical model linking firm characteristics and expected returns. The key ingredient of our model is technological shocks embodied in new capital (IST shocks), which affect the profitability of new investments. Firms' exposure to IST shocks is endogenously determined by the...
Persistent link: https://www.econbiz.de/10013107998
We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...
Persistent link: https://www.econbiz.de/10013127899
We present a model of endogenous firm growth with R&D investment and innovation as the engine of growth. The objective of our analysis is to present a framework that can be used for microeconometric analysis of firm performance in high-tech industries. The model for firm growth is a partial...
Persistent link: https://www.econbiz.de/10013210678
This paper models the international competition between a domestic firm and its vertically integrated foreign rival …
Persistent link: https://www.econbiz.de/10013222922
role of an active market for corporate control and of competition in banking integration. European listed banks … profitability appears to converge to a common level. There is weak evidence that competition eliminates high profits for these banks …, and high profit banks see their profits driven down quickly …
Persistent link: https://www.econbiz.de/10012757853
degree of competition in a market with the share of nonprofits: the availability of economic profits under for-profit status … profit-deviating preferences from the state-defined regulatory status of nonprofit production. We argue that this separation … is crucial in providing predictions about the underlying forces which allow the coexistence of nonprofit and for-profit …
Persistent link: https://www.econbiz.de/10013224865
. The risky arm could potentially lead to a dead end and the safe arm introduces further competition to make firms keep …
Persistent link: https://www.econbiz.de/10013067107
We study a simple, two-stage, stochastic patent race involving two firms. We examine the behavior of the participants as they gain the lead or fall behind in the race. We find that the leader engages in R&D more intensively than does the follower, and that both firms intensify their efforts if...
Persistent link: https://www.econbiz.de/10013249577
Using the universe of large Canadian manufacturing firms in 1988 and 1996, we investigate to what extent outsourcing decision can be explained by a simple property rights model. The unique availability of disaggregate information on outputs as well as inputs permits the construction of a very...
Persistent link: https://www.econbiz.de/10012751128