Any business can be devastated virtually overnight by a new offering that is both better and cheaper. We call this strategy “Big Bang Disruption,” because its introduction signals the complete and often sudden re-invention of the industries it affects. This article describes the special...

Open innovation allows large organizations to collaborate across a wide ecosystem of potential partners, reducing risk and increasing the potential for successful disruptive products and services. In China, appliance giant Haier has experienced significant success using its HOPE platform, which...

China has a wide-range of patent-specific and other patent-related policies in-place, many of which are at least partially meant to stimulate patents and “indigenous innovation.” However, the analysis in this paper discusses how some of these policies in effect can actually discourage...

China has a wide-range of patent-specific and other patent-related policies in-place, many of which are at least partially meant to stimulate patents and "indigenous innovation." However, the analysis in this paper discusses how some of these policies in effect can actually discourage quality...

This working paper shows China's technological advance, its basis in using foreign technology combined with its own manpower resources, and its clever integration of regional ambitions with national policies and programs. It also indicates an emerging global rivalry as China moves towards a...

The global location of R&D centres by MNCs is a rather new phenomenon; especially when it comes to establishing R&D centres in developing countries. The existing and rather limited literature on globalization of innovation provides four possible explanations of why multinationals locate R&D...

The People’s Republic of China has experienced three decades of sustained, strong annual economic growth as it transitions from a centrally planned economy to a free market. Currently the world’s second largest economy, China recognizes scientific and technological innovation as an...

Innovation and progress in science and technology (Samp;T) top China's economic agenda. The central government's guiding policy document for the promotion of innovation is the Medium to Long Term Plan for the Development of Samp;T (the Samp;T Plan) issued in January 2006. The Samp;T Plan...

During 2013, the U.S. Treasury Department evoked the first use of the 2001 Patriot Act to exclude virtual currency provider Liberty Reserve from the U.S. financial system. This article will discuss: the regulation of virtual currencies; cybercrimes and payment systems; darknets, Tor and the...

Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...