This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...

This paper introduces the Portfolio Project Matrix Model P2M2™ for managing capability acquisition and innovation in military applications. We present an overview of related theories and models and provide references. An annex is included, featuring a visualization tool used to analyse...

We examine the paradox of capabilities: although portfolio resources contribute to innovation success, and technologically capable firms have the ability to gain more such resources, firms' 'competency traps' and the tension between value creation and value protection reduce benefits from...