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Leveraging the detailed project-level data on biotech startups and their IPO records, this paper studies how adverse selection in capital markets affects financing decisions of entrepreneurs and firm values. By structurally estimating a dynamic model that features strategic experimentation and...
Persistent link: https://www.econbiz.de/10013222521
This paper argues incumbent firms may acquire innovative targets solely to discontinue the target's innovation projects …
Persistent link: https://www.econbiz.de/10013238993
facilitate follow-on innovation and benefit latecomer firms, especially in the pharmaceutical industry. In this paper, we provide … between firms' innovation and imitation strategies for the design of innovation policies …
Persistent link: https://www.econbiz.de/10013241201
-effects regressions, this study yields robust results. National patent protection alone does not stimulate domestic innovation, as …, domestic innovation accelerates in countries with higher levels of economic development, educational attainment, and economic …
Persistent link: https://www.econbiz.de/10012751759
This paper quantifies the relationship between market size and innovation in the pharmaceutical industry using improved …, and newer, methods and data. We find positive significant elasticities of innovation to expected market size with a point … the cost of innovation of 800 million to one billion per drug, and marginal costs of manufacture and distribution near 50 …
Persistent link: https://www.econbiz.de/10009369352
We propose an empirical strategy for estimating competition in innovation markets based on a model of creative …
Persistent link: https://www.econbiz.de/10014204193
) Entrepreneurship distributed in systems of innovation, 3) Entrepreneurs changing selection criteria, and 4) Rationality vs. uncertainty …
Persistent link: https://www.econbiz.de/10014217667
innovation. Based on a contingency notion, the relation between research and development (R&D) projects’ properties and the way …
Persistent link: https://www.econbiz.de/10014132966
on innovation. These data indicate that Pioneer innovated less in response to Monsanto’s entry. Field trial data also …
Persistent link: https://www.econbiz.de/10014136711
innovation strategies and innovation activities to pursue three interconnected aims: a) better understand firm behaviour by … analysing qualitative features of innovation processes (motivations, dynamics, linkages among driving factors and collaboration …. The concluding section highlights implications for innovation surveys’ methods, further quantitative analyses, as well as …
Persistent link: https://www.econbiz.de/10014145763