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We analyse how a patent-holding pharmaceutical firm may strategically use advertising of existing drugs to affect R&D investments in new (differentiated) drugs, and thereby affect the probability distribution of future market structures in the industry. Within a fairly general model framework,...
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innovation, and it is more rare and much harder to discover than sustaining innovation. But, it provides both higher investment …
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capital. The firm is financially constrained and there are implementation lags in investment. Our model predicts that product … related to investment. Estimating price and investment equations on panel data for Swedish manufacturing plants we find … results which are qualitatively in line with these predictions, though the relation between investment and prices is stronger …
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I examine whether mandating the disclosure of investments influences firms’ strategic interactions. I exploit an SEC regulation requiring firms to report off-balance sheet purchase obligations, such as commitments to inventory purchases, CAPEX, R&D, and advertising. Motivated by theory on...
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important drivers of the competitiveness of established firms. Conservative estimates suggest that the optimal investment is at … least 0.7 to 2.5 times the actual R&D investment for a firm at the median of the productivity growth and 2 to 4 times for a …
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