The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists, and Oligopolists

Arbeitspapier

The starting point of this paper is that the exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects. In turn, this will increase the price for basic innovations, thereby triggering more basic innovations by entrepreneurs. Consequently, the presence of a venture capital market implies that more basic innovations are created and that these become better developed.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IUI Working Paper ; No. 626

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies ; Market Structure, Firm Strategy, and Market Performance: General ; Firm Objectives, Organization, and Behavior: General ; New Firms; Startups ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
• Thema: Acquisitions ; Entrepreneurship ; Innovation ; Venture Capital ; Innovation ; Risikokapital ; Entrepreneurship-Ansatz ; Oligopol ; Übernahme ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Norbäck, Pehr-Johan ; Persson, Lars
• Ereignis: Veröffentlichung
• (wer): The Research Institute of Industrial Economics (IUI)
• (wo): Stockholm
• (wann): 2004

Weitere Informationen

• Handle: http://hdl.handle.net/10419/81173
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ