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Hold-Ups and Asymmetric Information in a Technology Transfer: The Micronas Case

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  • Kultti, Klaus
  • Takalo, Tuomas

Abstract

In 1980 three Finnish companies established a research joint venture as a separate firm in order to develop semiconductors. We study the initial stages of the project focusing on the two evident sources of difficulty associated with an international technology transfer. One is a hold-up problem and the other asymmetric information on the quality of the technology. We develop two simple models that capture some features of the contract governing the technology transfer, and conclude that both problems were present, but hold-up problems were considered a more serious threat. Copyright 2002 by Kluwer Academic Publishers

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  • Kultti, Klaus & Takalo, Tuomas, 2002. "Hold-Ups and Asymmetric Information in a Technology Transfer: The Micronas Case," The Journal of Technology Transfer, Springer, vol. 27(3), pages 233-243, June.
    • Handle: RePEc:kap:jtecht:v:27:y:2002:i:3:p:233-43
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    Cited by:

    1. Klaus Kultti & Tuomas Takalo & Tanja Tanayama, 2015. "R&D spillovers and information exchange: a case study," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 63-76, June.
    2. Lee Davis, 2006. "Licensing Strategies of the Enterprising - but Vulnerable - "Intellectual Property" Vendors," DRUID Working Papers 06-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    3. AGRELL, Per & KASPERZEC, Roman, 2010. "Dynamic joint investments in supply chains under information asymmetry," LIDAM Discussion Papers CORE 2010085, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Kavusan, Korcan & Noorderhaven, Niels G. & Duysters, Geert M., 2016. "Knowledge acquisition and complementary specialization in alliances: The impact of technological overlap and alliance experience," Research Policy, Elsevier, vol. 45(10), pages 2153-2165.

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