The research provides evidence from a dataset of R&D joint venture contracts about how firms organize collaborative R&D. We work out of a dataset of 96 contracts to construct a taxonomy of the types of mechanisms firms use in organizing collaborative R&D. We identify mechanisms with particular...

The paper deals with the significant impact of location on innovation activity that has been found in many empirical studies. Main elements of such an explanation are the specific problems of a division of innovative labor. Based on an outline of these issues the concept of a regional innovation...

This paper analyzes the formation of Research Corporations as an alternative governance structure for performing R&D compared to pursuing in-house R&D projects. Research Corporations are private for-profit research centers that bring together several firms with similar research goals. In a...

We develop a model of two-stage cumulative research and development (R&D), in which one Research Unit (RU) with an innovative idea bargains to license her non-verifiable interim knowledge exclusively to one of two competing Development Units (DUs) via one of two alternative modes: an open sale...

The phenomenon of physical R&D-manufacturing co-location is interesting, because researchers have made very different observations regarding its prevalence. In some populations co-location of the two functions seems to be the norm; in others, an exception. However, we still do not have an...

This paper examines the relationship between a firm's strategic framework and business environment and the probability of becoming the target of “copying”, differentiated into (i) unauthorized reproduction of its technological product elements or insignia, and (ii) patent and trademark...

We develop a model in which multinational investors decide about the modes of organization, the locations of production, and the markets to be served. Foreign investments are driven by market-seeking and cost-reducing motives. We further assume that investors face costs of control that vary...

We develop a model in which multinational investors decide about the modes of organization, the locations of production, and the markets to be served. Foreign investments are driven by market-seeking and cost-reducing motives. We further assume that investors face costs of control that vary...

In recent years, demutualized stock exchanges have been increasingly engaging in M&A and alliance activities. To examine the effect of these growth strategies on exchange shareholders’ value creation, we focus on 14 public stock exchanges and investigate their short-run share price responses...