In this Paper we carefully link knowledge flows to and from a firm’s innovation process with this firm’s investment decisions. Three types of investments are considered: investments in applied research, investments in basic research, and investments in intellectual property protection. Only...

The paper contributes to the debate on cumulative advantage effects in academic research by examining top performance in research and its persistence over time, using a panel dataset comprising the publications of biomedical and exact scientists at the KU Leuven in the period 1992-2001. We study...

The strategic options available to multinational enterprises and host governments, when the first contemplate investment in the latter's country, are marked by the possibility that no entry eventually will take place as a response to opportunistic behavior on the part of th e host government....

This paper provides a theoretical model of the trade-offs that an MNE faces when organising its R&D as decentralised or centralised. R&D decentralisation avoids having to adapt centrally developed innovations to local markets, being able to use the specific know-how of the subsidiary. In...

Using Belgian firm level data on R&D and productivity, this paper provides further evidence on the important role of knowledge in explaining performance at the firm level, by augmenting the classical productivity growth approach not only with own R&D expenditures, but also with R&D cooperation....

"This paper develops a model of strategic interaction in R&D internationalization decisions between two multinational firms, competing both abroad and in their home markets. It examines different incentives for foreign R&D faced by a technology leader and a technology laggard. The model takes...

The literature on the incentives for R&D cooperation with spillovers typically deals only with the factors affecting cooperative profits. This paper focuses on the incentives to cheat and the stability of such cooperative agreements in a repeated game framework. It is shown that the stability of...

"We provide a theoretical model about how to design academic spin-off contracts between the university technology transfer office (TTO), the researcher, and the venture capitalist. The optimal contract entails the allocation of founder shares to the researcher to secure her participation in the...