Aghion, Philippe; Carlin, Wendy; Schaffer, Mark - William Davidson Institute, University of Michigan - 2002
relationship between competition and innovation, Aghion, Dewatripont and Rey (1999) showed that this could be reversed if agency …-maximizing framework in which incumbent firms innovate to escape competition, there will be complementarity between increased product …) enhances the performance of old firms, which is suggestive of a role if agency effects and hence of policy substitutability and …