| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14861 |
| DP14861 Disruptive Innovation and R&D Ownership Structures of the Firm | |
| Di Guo; Haizhou Huang; Kun Jiang; Cheng-Gang Xu | |
| 发表日期 | 2020-06-09 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Among the 87 revolutionary innovations in the world over the life of the Soviet Union, 86 were invented in capitalist economies (Kornai, 2013). This paper studies why this is the case. This paper provides a theoretical foundation, which explains why disruptive innovations are organized and financed with a large number of independent small firms in a capitalist economy. Whereas not allowing private ownership, this kind of arrangement is not an option in an economy where only state ownership exists. This paper also contributes to empirical work on disruptive innovation, which is missing in the literature. We use FDA approved new molecular entities (NMEs) in the pharmaceutical industry as a proxy of disruptive innovation in the industry. Although pharma firms are often very large in size, their R&Ds for developing NMEs depend deeply on forming R&D alliances with independent small R&D firms. We find NMEs invented by a pharma firm is positively and significantly associated with the number of R&D alliances that the firm creates. |
| 主题 | Development Economics ; Financial Economics ; Industrial Organization |
| 关键词 | Socialism Capitalism Innovation Soft-budget constraint |
| URL | https://cepr.org/publications/dp14861 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543801 |
| 推荐引用方式 GB/T 7714 | Di Guo,Haizhou Huang,Kun Jiang,et al. DP14861 Disruptive Innovation and R&D Ownership Structures of the Firm. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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