The emergence of the Latin American market and its growing importance attract global investors to this region with an eye on profit opportunities. This attraction demands a reliable instrument for the calculation of future stock prices of regional companies. This study examined the reliability...

Companies that conduct internal research cannot fully specify the output from that research in advance. Inevitably, spillovers may result. A company might choose to create a technology spin-off company to realize value from such research spillovers. But how is such a spin-off to be governed?...