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Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...
Persistent link: https://www.econbiz.de/10010957591
The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D...
Persistent link: https://www.econbiz.de/10010957620
Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....
Persistent link: https://www.econbiz.de/10008533548
This study examines how industry-specific managerial experience affects firms' innovation performance in the context of …
Persistent link: https://www.econbiz.de/10010957603
market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation. …
Persistent link: https://www.econbiz.de/10010957653
innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …
Persistent link: https://www.econbiz.de/10005097531
Knowledge spillovers to competitors are regarded as an important aspect of the innovation process. While a company …
Persistent link: https://www.econbiz.de/10005097637
This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity …
Persistent link: https://www.econbiz.de/10005097836
Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on...
Persistent link: https://www.econbiz.de/10005097921
variables the motives for innovation expenditures are also taken into account. We differentiate between firms which intend to …
Persistent link: https://www.econbiz.de/10005098126