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This paper provides a novel theory of research joint ventures for financially constrained firms. When firms choose R … resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the …
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This paper provides a novel theory of research joint ventures for financially constrained firms. When firms choose R … resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the …
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