the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm … innovation for sale, relative to innovation for entry. …

more important when there is an increase in network effects. A consequence is higher innovation incentives under an … reducing bidding competition, thereby also reducing acquisition prices and innovation incentives. …

' signaling-driven investment, despite the risk of buying a bad innovation. We nally show at what point the presence of active …

sales price of a developed innovation. This will trigger preemptive acquisitions by incumbents, thus increasing the reward …

growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs' choice of riskiness of an innovation … project and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the … fundamental policy trade-off between the declared goals of promoting employment and innovation in small, entrepreneurial firms …

innovation as well as the project's feasibility. Our analysis of 900 nascent entrepreneurs finds that patents and prototypes … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external … that the relation between finance and innovation depends on the stage of a start-up lifecycle. …