This paper compares the evolution of the venture capital industries in the U.S., Germany and Japan. Private initiatives, a competitive science infrastructure and a favorable legal environment contributed to an early success of the industry in the U.S. Early public efforts to create venture...

The differences between patent systems in the United States and Japan suggest that in Japan, R&D spillovers are more rapid, large firms have greater incentives to innovate, incremental innovations are encouraged, and firms employ alternative appropriability mechanisms more than U.S. cases....

In this chapter we profile the strategies of two large Japanese firms with expertise in ‘old’ biotechnology, which successfully developed the technological capabilities to enter ‘new’ biotechnology. We suggest that these ‘new entrants’ differed from traditional pharmaceutical...

Biotechnology revolutionized drug discovery in the pharmaceutical industry, making adoption a key determinant of long-term survival in the industry. In the U.S., where and when firms adopted biotechnology was largely determined by location of actively publishing academic “star”...

Does the mobility of engineers facilitate international knowledge spillovers and help newly industrializing countries catch up with developed countries? This study attempts to answer this question by tracing knowledge flows through the international mobility of semiconductor engineers. The paper...

This paper reviews 16 empirical studies of the impact of technological change upon incumbent firms. While all 16 studies have strong internal validity, their external validity is unclear. These studies employ different definitions, use different taxonomies, and rely on differing causal...