Firms producing differentiated products have high margins and therefore low risk. As a result firms invest more into developing differentiated products when they perceive risk is high. Higher risk also implies higher product skewness towards more differentiated products and therefore higher...

This paper considers the impact of differences in endogenous technological change between two countries on global pollution emissions under international strategic interaction in environmental policies. First, we demonstrate that an environmentally lagging country's technology may continue to...

Multi-staged R&D projects are copy-book cases of compound real options. Traditional compound option models assume a constant volatility over the lifetime of the project. Building on the n-fold compound option model of Cassimon et al. (2004), we extend this model to allow for phase-specific...

The Hungarian precision engineering industry, although fairly successful in the pre-war period and able to survive all the adverse corollaries of planning and CMEA orientation, might be wiped out by the long-awaited marketisation: far more competitive and powerful foreign competitors can now...

Several recent studies have shown that not only exporters but also importers perform better than firms that do not trade. Using a detailed firm level dataset from 43 developing countries, I show that there are persistent differences in evolution of firms when they are grouped according to their...

New ways of strategic approach are available due to information technologies. New dimensions in business experiments are possible. Company can now meet its research needs much more efficient. It takes less money and less time to come to similar results with business experiments as with...

Article about the situation and the problems existing in the field of innovative development of Russian industry in the 1992-1998. The author analyzes the state innovation policy in Russia, highlights the major problems of implementation of industrial innovation, and offers solutions.