This paper addresses the evolution of biotechnology clusters in Germany between 1996 and 2003, paying particular attention to their respective composition in terms of venture capital, basic science institutions and biotechnology firms. Drawing upon the significance of co-location of money and...

The efficient allocation of control rights in inter-firm collaborations is a widely emphasized issue. In this paper, I empirically identify control rights and the allocation of these rights using a unique survey data set on collaborations between biotechnology and pharmaceutical firms. Fifteen...

Anita Dietrich, Florian Dorn, Clemens Fuest, ifo Institut, Daniel Gros, Giorgio Presidente und Philipp-Leo Mengel, Bocconi Universität, Mailand, vergleichen die EU-Innovationspolitik mit der in den USA. Investitionen in FuE in der EU und in Deutschland konzentrieren sich auf Sektoren, die als...

The transformation of economy and society requires far-reaching technological and social innovations. To utilise the economic opportunities of transformation and to mitigate the negative effects of structural change, a determined transformation-oriented R&I policy is needed. Using the example of...

Die Expertenkommission hat in ihrem aktuellen Gutachten Vorschläge zur Reform derGovernance-Strukturen zur Bewältigung der drängenden Transformationen formuliert.Dabei wird gezeigt, wie politisch gesetzte komplexe Ziele erreicht und dafür erforderlicheMaßnahmen umgesetzt werden können. Die...

This paper investigates how patent applications and grants held by new ventures improve their abilityto attract venture capital (VC) financing. We argue that investors are faced with considerable uncertaintyand therefore rely on patents as signals when trying to assess the prospects of potential...

The dramatic increase in interorganizational partnering in the last two decades raises questions regarding the value impact of alliances. Using event study methodology, this paper tests whether stock market reactions differ when an alliance formation or termination is announced. In addition, it...