DIX, MANFRED; GANDELMAN, NÉSTOR - In: Manchester School 75 (2007) 2, pp. 218-236
Why do firms sometimes choose to undertake their R&D by financing start-up companies, while other times they do it in their internal labs? We present a model where the choice of R&D is driven by information asymmetries on the quality of the project between the corporate venture capitalist and...