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Titel
Complementary assets, start-ups and incentives to innovate / L. Colombo, H. Dawid
VerfasserColombo, Luca ; Dawid, Herbert
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, March 2013
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (32 Seiten) : Diagramme
SerieWorking papers in economics and management ; No. 07-2013
SchlagwörterUnternehmen / Forschung und Entwicklung / Technischer Fortschritt / Markt / Immaterielles Wirtschaftsgut
URNurn:nbn:de:hbz:6:2-127751 
DOI10.4119/unibi/1861142 
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Complementary assets, start-ups and incentives to innovate [0.46 mb]
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In this paper we examine to what extent market conditions facilitating start-up formation affect technical change and firms' profits. We consider a model in which R&D efforts of an incumbent firm generate partly tacit technological know-how embodied in a key R&D employee, who might use it to form a start-up. The availability of complementary assets influences whether new firms are created and determine expected profits for start-up-founders. A large availability of complementary assets has the direct effect that the generation of start-ups is fostered. However, as a strategic effect, the incentives of incumbent firms to invest in R&D might be reduced because of the increased danger of knowledge loss occurring through start-up formation. We fully characterize the effects of an increase in the availability of complementary assets, showing under which conditions the effects on innovative activities and industry profits are negative.

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