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Due diligence, research joint ventures, and incentives to innovate
Fabrizi, Simona; Lippert, Steffen - Department of Economics, School of Business - 2011
achievability of synergies. We show that if the experts who advise the owners considering forming an R&D joint venture are also … responsible for R&D efforts, they can have incentives to withhold information about the extent of those synergies. Owners …
Persistent link: https://www.econbiz.de/10010552482
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Due diligence, research joint ventures, and incentives to innovate
Fabrizi, Simona; Lippert, Steffen - 2011
achievability of synergies. We show that if the experts who advise the owners considering forming an R&D joint venture are also … responsible for R&D efforts, they can have incentives to withhold information about the extent of those synergies. Owners … venture, synergies, asymmetric information, moral hazard, information withholding (concealing) and revelation. …
Persistent link: https://www.econbiz.de/10009409623
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Due Diligence, Research Joint Ventures, and Incentives to Innovate
Fabrizi, Simona; Lippert, Steffen - 2011
achievability of synergies. We show that if the experts who advise the owners considering forming an R&D joint venture are also … responsible for R&D efforts, they can have incentives to withhold information about the extent of those synergies. Owners …
Persistent link: https://www.econbiz.de/10014193980
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Due Diligence, Research Joint Ventures, and Incentives to Innovate
Fabrizi, Simona; Lippert, Steffen - In: Journal of Institutional and Theoretical Economics (JITE) 168 (2012) 4, pp. 588-611
achievability of synergies. We show that if the experts who advise the owners considering forming an R&D joint venture are also … responsible for R&D efforts, they can have incentives to withhold information about the extent of those synergies. Owners …
Persistent link: https://www.econbiz.de/10010625806
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Partial Ownership and Strategic Alliances with Reallocation of Corporate Resources
Osano, Hiroshi - 2012
This paper considers the role of equity transfer to strategic alliance partners in mitigating the moral hazard problem that occurs if a participating firm faces some possibility of reallocating a part of the resources devoted to the joint project of the strategic alliance or retreating from the...
Persistent link: https://www.econbiz.de/10013117049
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Conceptualization and Theorization of the Big Data
Mazieri, Marcos - 2016
The term Big Data is being used widely by companies and researchers who consider your relevant functionalities or applications to create value and business innovation. However some questions arise about what is this phenomenon and, more precisely, how it occurs and under what conditions it can...
Persistent link: https://www.econbiz.de/10012985481
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Incomplete Contracts, Limited Liability, and the Optimality of Joint Ownership
Schmitz, Patrick W. - 2019
The property rights approach to the theory of the firm is the most prominent application of the incomplete contracting paradigm. A central conclusion of the standard model says that joint ownership is suboptimal. In this note, we analyze a modified version of the standard model that is tailored...
Persistent link: https://www.econbiz.de/10012864429
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Asymmetric Information and the Property Rights Approach to the Theory of the Firm
Schmitz, Patrick W. - 2019
In the Grossman-Hart-Moore property rights approach to the theory of the firm, it is usually assumed that information is symmetric. Ownership matters for investment incentives, provided that investments are partly relationship-specific. We study the case of completely relationship-specific...
Persistent link: https://www.econbiz.de/10012891754
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On the Optimality of Outsourcing when Vertical Integration can Mitigate Information Asymmetries
Schmitz, Patrick W. - 2021
Consider a buyer and a seller who have agreed to trade an intermediate good. It is ex-post efficient to adapt the good to the prevailing state of the world. The seller has private information about the costs of adapting the good. In the case of non-integration, the buyer has no possibility to...
Persistent link: https://www.econbiz.de/10013236062
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Contracting under Adverse Selection : Certifiable vs. Uncertifiable Information
Schmitz, Patrick W. - 2021
The analysis of adverse selection problems in seller-buyer relationships has typically been based on the assumption that private information is uncertifiable, while in practice it may well be certifiable. If a buyer has certifiable private information, he can conceal evidence, but he cannot...
Persistent link: https://www.econbiz.de/10013247965