This work introduces a new model to investigate the efficiency and evolution of networks of firms exchanging knowledge in R&D partnerships. We first examine the efficiency of a given network structure in terms of the maximization of total profits in the industry. We show that the efficient...

We propose a novel way to measure the reputation of firms by using information about their ownership structure. Supported by the signaling theory, we argue that ownership relations channel reputation spillovers between shareholders and their invested companies. We model such reputation...