Information Sharing and Optimum Financing Mode

Chiesa, Gabriella (2003) Information Sharing and Optimum Financing Mode. Bologna: Dipartimento di Scienze economiche DSE, p. 31. DOI 10.6092/unibo/amsacta/4806. In: Quaderni - Working Paper DSE (488). ISSN 2282-6483.
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Abstract

Within a setting where an established firm (incumbent) and a new venture engage in research and development (R&D) and compete in the product market, we analyze R&D cooperation and the optimum financing mode. We show that if an equilibrium is one where firms cooperate, then financing is provided by the incumbent. Cooperation is more likely in organizations where agency problems are less severe, e.g. family firms, and the riskier R&D. If the R&D output is patentable, cooperation is implemented ex post via licensing and the optimum financing mode has financing provided by a pure financial institution.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Chiesa, Gabriella
Subjects
ISSN
2282-6483
DOI
Deposit date
09 Mar 2016 15:02
Last modified
09 Mar 2016 15:02
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