Three Essays On Innovation Intervention And Market Efficiency
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Three Essays On Innovation Intervention And Market Efficiency
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Author : 王友珊
language : en
Publisher:
Release Date : 2005
Three Essays On Innovation Intervention And Market Efficiency written by 王友珊 and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Three Essays On Innovation Dynamics
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Author : Subhadeep Datta
language : en
Publisher:
Release Date : 2020
Three Essays On Innovation Dynamics written by Subhadeep Datta and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
This dissertation contains three essays on the theme of industry-level innovation and different aspects of innovation. The essays contribute to the literatures of institutional theory, categories, commercialization, evaluation, responsible innovation, and governance of innovation. Over the past few decades, the world has observed a wave of commercialization which has changed the way many actions are performed. One of the key features has been that of the state relinquishing its control over many activities that are now performed in the market. This wave of commercialization has given rise to some unique and innovative forms of organization within existing industries. Some of the outcomes of these innovative forms of organizations are the emergence of new categories, hybridization of existing categories, tensions between various stakeholders because of the hybridizations, emergence of new performance evaluation systems, and new questions being raised on ethical and moral grounds concerning the application of such innovations. In this dissertation I have attempted to address some of these aforementioned aspects of industry-level innovation.
Three Essays On The Performance Determinants Of Venture Capital Industry
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Author : Miona Milosevic
language : en
Publisher:
Release Date : 2016
Three Essays On The Performance Determinants Of Venture Capital Industry written by Miona Milosevic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Venture capital is crucial for funding and development of young innovative ventures. The French venture capital industry figures among the most important in Europe, however, its performance remains negative, underperforming both the US and the average European market. Since the 2008 financial crisis, banks and insurance companies, which used to be principal investors, have abandoned venture capital industry, mainly due to unfavorable regulatory changes (Basel III and Solvency II). To fill this gap, the government has increased its intervention, and direct funds and tax incentives have now become the principal sources of funding in the venture capital industry. Besides, French business environment also represents an exception compared to other developed economies due to tight relations between the State and the business sector, concentration of the public and corporate power in the hands of actors mainly educated in highly elitist education institutions, which are also well known for their powerful networks. Our aim was, first, to study the underperformance of the venture capital industry though a holistic lens, and then test quantitatively how different elements of human and social capital relate to performance measures, such as portfolio exits, fundraising and syndication. We find specificities of the French venture capital market, the dominance of banking and finance professionals and prevailing government funding and incentives, to hamper the process of expertise acquisition. We further show how task-specific innovation and investment human capital contribute positively to value adding, by raising funds from syndicate partners in follow-on rounds, and exiting, even in an environment characterized by dominant networks. However, we also provide evidence that in a market with strong government intervention and networks, human capital characteristics determining the exit performance are not associated with higher capital commitments. Instead, our research points out to the importance of social networks for fundraising activity, where connections and favoritism lead to inefficiencies in capital allocation.
Technology And Economic Development
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Author : Travis James Lybbert
language : en
Publisher:
Release Date : 2004
Technology And Economic Development written by Travis James Lybbert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Essays On Market Intervention And Regulation
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Author : David Rietzke
language : en
Publisher:
Release Date : 2014
Essays On Market Intervention And Regulation written by David Rietzke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This dissertation is a theoretical exploration of commonly used policy tools meant to improve market performance. The first chapter examines the use of prizes and grants as instruments for encouraging research and development. The second chapter investigates the welfare impact of price caps in oligopoly markets with endogenous entry. The third chapter studies the relationship between deposit insurance and bank risk taking, when a banker is motivated by reciprocity. The first chapter explores the use of grants and prizes as tools for encouraging research activity and innovation. Grants and prizes are commonly used by public and private research funders, and encourage R & D activity in different ways. Grants encourage innovation by subsidizing research inputs, while prizes reward research output. A common rationale for prizes is moral hazard; if a funder cannot observe all relevant research inputs then prizes create a strong incentive for R & D activity. In this chapter, it is shown that grants are a more efficient means of funding when a researcher's ability is unknown to the funder (adverse selection). When both adverse selection and moral hazard problems exist, a grant may emerge as an optimal funding mechanism, provided the moral hazard problem is relatively weak. In settings where the moral hazard problem is sufficiently strong, a grant emerges as part of an optimal funding mechanism, in conjunction with a prize. These results are useful for understanding different funding mechanisms used by both public and private entities. The second chapter, which is based on joint work with Stan Reynolds, examines the impact of price caps in oligopoly markets with endogenous entry. In the case of deterministic demand, reducing a price cap yields increased total output, consumer welfare, and total welfare. This result falls in line with classic results on price caps in monopoly markets, and with results for oligopoly markets with a fixed number of firms. These comparative static results for price caps need not hold when demand is stochastic and the number of firms is fixed, but recent results in the literature show that a welfare improving price cap does exist. We show that a welfare-improving cap need not exist in the case where demand is stochastic and entry is endogenous. In addition, we provide restrictions on the demand function such that a welfare-improving price cap exists under endogenous entry and stochastic demand. The third chapter, which is based on a joint project with Martin Dufwenberg, investigates the relationship between deposit insurance, risk taking, and insolvency. Empirical evidence suggests that the introduction of deposit insurance increases risk taking by banks and results in a greater chance of insolvency. The common rationale for this connection is that deposit insurance decreases the incentive for customers to monitor their banks, and invites excessive risk taking. In this chapter, it is argued that this classic explanation is somewhat puzzling. If customers can monitor their bank's behavior, certainly the insurance provider (FDIC) has this same ability. If this is the case, appropriate mechanisms could limit the moral hazard problem. We put forth an alternative explanation, and demonstrate that deposit insurance invites excessive risk taking when a banker is motivated by reciprocity.
Three Essays On Industrial Innovation
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Author : Chun-gyŏng Pak
language : en
Publisher:
Release Date : 1985
Three Essays On Industrial Innovation written by Chun-gyŏng Pak and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with categories.
Three Essays On Open Innovation Technological And Institutional Change
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Author : Alexander N. Cuntz
language : en
Publisher:
Release Date : 2009
Three Essays On Open Innovation Technological And Institutional Change written by Alexander N. Cuntz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Three Essays On Competition And Innovation
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Author : Daniel Nepelski
language : en
Publisher:
Release Date : 2009
Three Essays On Competition And Innovation written by Daniel Nepelski and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Three Essays On Innovation
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Author : Gavin L. Fox
language : en
Publisher:
Release Date : 2009
Three Essays On Innovation written by Gavin L. Fox and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
In the second essay, position in a network of strategic partners (i.e. centrality, constraint, and range) is assessed as an external predictor of innovation. The results of the second essay suggest that having many strategic partners (being central) and controlling the flow of knowledge among those partners (being unconstrained) are positively related to innovation. Finally, in the third essay, internal and external predictors are combined with the characteristics of strategic partners in a network analysis. The results support the findings of the first two essays and further suggest that firms should consider the resources of both their direct and indirect strategic partners when attempting to innovate. Taken together, the results of the three essays highlight the value of more universal predictors of innovation and suggest that managers and researchers focus on the basics of knowledge creation and acquisition when pursuing innovation.
Essays On Public Intervention Institutional Arrangements And Economic Efficiency
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Author : Manabendu Chattopadhyay
language : en
Publisher:
Release Date : 1999
Essays On Public Intervention Institutional Arrangements And Economic Efficiency written by Manabendu Chattopadhyay and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Economic development categories.