| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17467 |
| DP17467 Research Joint Ventures: The Role of Financial Constraints | |
| Philipp Brunner; Igor Letina; Armin Schmutzler | |
| 发表日期 | 2022-07-12 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | This paper provides a novel theory of research joint ventures for financially constrained firms. When firms choose R&D portfolios, an RJV can help to coordinate research efforts, reducing investments in duplicate projects. This can free up resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation tend to be profitable, but innovation-reducing RJVs also exist. Finally, we compare RJVs to innovation-enhancing mergers. |
| 主题 | Industrial Organization |
| 关键词 | Innovation Research joint ventures Financial constraints Mergers Intensity of competition Licensing |
| URL | https://cepr.org/publications/dp17467 |
| 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/546558 |
| 推荐引用方式 GB/T 7714 | Philipp Brunner,Igor Letina,Armin Schmutzler. DP17467 Research Joint Ventures: The Role of Financial Constraints. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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