Purpose – The purpose of this paper is to develop a model of innovative industries which face coopetition: firms compete while committing at the same time to R&D joint ventures and other cooperative agreements. These joint activities are likely to occur in presence of complementarities on...

This paper develops a model of share price formation driven by accounting and market structures. Heterogeneous investors are assumed to discover and process fundamental information disclosed by the accounting system. The information set available to share market investors is then jointly...