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Author: Tian Chen
Publisher:
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Category :
Languages : en
Pages : 0
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Author: Tian Chen
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Category :
Languages : en
Pages : 0
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Author: Khaladdin Rzayev
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Languages : en
Pages :
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Author: Bogdan Prokopovych
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Category : Marketing research
Languages : en
Pages : 224
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Category :
Languages : en
Pages :
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Author: Iván Blanco
Publisher: Ed. Universidad de Cantabria
ISBN: 8481028770
Category : Business & Economics
Languages : en
Pages : 90
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Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.
Author: Pedro Mendi
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Languages : en
Pages :
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In this dissertation, I verify the existence of an international market for disembodied technology, I estimate the impact on productivity of technology acquired in this way, and I analyze how contracts for the international sale of technology are arranged. I find that the international market for technology is growing at a higher rate than output or merchandise trade in the OECD countries, and that cumulative R&D efforts influence observed receipts for the sale of technology, implying that returns to research are at least partially appropriable. I also find that disembodied technology acquired in market transactions has a positive and significant impact on domestic productivity, stressing the importance of this specific technology diffusion channel. Finally, I study how technology imports contracts are designed. Specifically, I focus on whether observed characteristics of the technology have an influence on scheduled payments, finding that traditional explanations based on moral hazard or asymmetric information models are not fully satisfactory.
Author: Ricardo Ungo
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 172
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Author: Amit Kumar (docteur en sciences de gestion en 2018).)
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Category :
Languages : en
Pages : 0
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I began my dissertation by studying articles on technology-selection, and more broadly, on firms' opportunity-selection. In the first paper, I reviewed 106 empirical studies on firms' strategic exit. Scholars have studied the topic predominantly from a domain-perspective. Consequently, there evolved three fairly independent streams of literature on firms' exit from industries, economies or markets, and agglomerations. These streams rarely communicate with one-another; indeed while studying firm-exit from one opportunity-domain, such as industries, scholars have ignored firms' simultaneous exits from other domains, e.g. from the relevant markets, technology areas, or agglomerations. This paper conceptualizes exit from a firm's perspective, as a strategic decision taken by organizational actors so that the firm adapts better to its evolving opportunity-space. Accordingly, I focused on empirical studies establishing the antecedents and consequences of firms' decisions of strategic exit. Bringing together studies on strategic exit irrespective of the type of domain or nature of divested/dissolved assets, this paper integrates the literature on exits from industries, economies/markets, and agglomerations. At the end, I underline certain areas to which future research can fruitfully contribute.
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Languages : en
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The thesis contains three chapters. The topics that are discussed refer to the technology industries and companies. The first chapter is entitled "On the Choice between Closed and Open Modes of Production" . A final product comprising of two complementary components, A and B, is said to be produced under the closed mode if A and B are produced by the same firm, and under the open mode if A and B are produced by different firms. In this chapter we develop a multi-period duopoly model to address the choice between closed and open modes of production. Within each period, the firms make decisions about their modes of production simultaneously in the first stage, and then choose their respective prices simultaneously in the second stage. We establish the existence of sub-game perfect Nash equilibrium and show that the open mode becomes more likely vis-à-vis the closed mode if the firm with a higher total cost of producing both components experiences a cost reduction in the components, if there is an increase in the other firm's cost of producing the component in which it has a disadvantage, if the quality of products produced under open mode goes up, and if the quality of products produced under closed mode goes down. In addition, we explore the possible divergence between the equilibrium mode and the mode that maximizes social welfare, and how it is affected by changes in the parameters. In the case of far-sighted firms that recognize the inter-temporal linkages between games in successive periods, we establish the existence of a symmetric pure strategy Markov perfect equilibrium that features rational expectations of future profits and show that a firm, whose unit cost of producing each component is lower than that of its rival (called a "clear winner"), may cede one component market to its competitor under some realizations of production costs, whereas a clear winner that ignores the inter-temporal linkages will always take both component markets. That is to say, rec.
Author: Walden Eric Allan
Publisher:
ISBN:
Category :
Languages : en
Pages : 556
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