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Innovation Governance for Value Capture -The Problem and a Proposed Simple Model-based Solution

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Author Info

  • Pitelis, Christos
  • Panagopoulosi, Andreas

Abstract

We aim to model the "optimal" choice on internal versus external innovation for value capture of different-sized firms, in the context of multi-level bargaining. We find that size differentials are a major determinant for the choice in hand. We derive implications for "closed" versus "open" innovation approaches, and we discuss managerial practice, limitations and possible extensions.

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File URL: http://www.esri.ie/research/research_areas/international_economics/dynreg/papers/WP42.pdf
File Function: 2009
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Bibliographic Info

Paper provided by Economic and Social Research Institute (ESRI) in its series Papers with number DYNREG42.

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Length: 27 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:esr:wpaper:dynreg42

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Related research

Keywords: Innovation; Firm Size; Value Capture; Patent Portfolios;

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References

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  1. Richard J. Rosen, 1991. "Research and Development with Asymmetric Firm Sizes," RAND Journal of Economics, The RAND Corporation, vol. 22(3), pages 411-429, Autumn.
  2. Freeman, Chris, 1994. "The Economics of Technical Change," Cambridge Journal of Economics, Oxford University Press, vol. 18(5), pages 463-514, October.
  3. Eaton, B Curtis & Schmitt, Nicolas, 1994. "Flexible Manufacturing and Market Structure," American Economic Review, American Economic Association, vol. 84(4), pages 875-88, September.
  4. Castellacci, Fulvio & Grodal, Stine & Mendonca, Sandro & Wibe, Mona, 2005. "Advances and challenges in innovation studies," MPRA Paper 27519, University Library of Munich, Germany.
  5. Acs, Zoltan J & Audretsch, David B, 1987. "Innovation, Market Structure, and Firm Size," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 567-74, November.
  6. Gilbert, Richard J & Newbery, David M G, 1982. "Preemptive Patenting and the Persistence of Monopoly," American Economic Review, American Economic Association, vol. 72(3), pages 514-26, June.
  7. Teece, David J., 1993. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 22(2), pages 112-113, April.
  8. Dixit, Avinash K, 1977. "The Accumulation of Capital Theory," Oxford Economic Papers, Oxford University Press, vol. 29(1), pages 1-29, March.
  9. Acs, Zoltan J & Audretsch, David B, 1988. "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, American Economic Association, vol. 78(4), pages 678-90, September.
  10. Arshad M. Khan & V. Manopichetwattana, 1989. "Innovative and Noninnovative Small Firms: Types and Characteristics," Management Science, INFORMS, vol. 35(5), pages 597-606, May.
  11. Fariborz Damanpour, 1996. "Organizational Complexity and Innovation: Developing and Testing Multiple Contingency Models," Management Science, INFORMS, vol. 42(5), pages 693-716, May.
  12. James Bessen & Michael J. Meurer, 2005. "The Patent Litigation Explosion," Working Papers 0501, Research on Innovation.
  13. Reinganum, Jennifer F., 1989. "The timing of innovation: Research, development, and diffusion," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 14, pages 849-908 Elsevier.
  14. Alfred D. Chandler, 1969. "Strategy and Structure: Chapters in the History of the American Industrial Enterprise," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530090, January.
  15. Lanjouw, Jean O & Schankerman, Mark, 2004. "Protecting Intellectual Property Rights: Are Small Firms Handicapped?," Journal of Law and Economics, University of Chicago Press, vol. 47(1), pages 45-74, April.
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Citations

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Cited by:
  1. Pitelis, Christos, 2009. "Edith Penrose’s ‘The Theory of the Growth of the Firm’ Fifty Years Later," MPRA Paper 23180, University Library of Munich, Germany.
  2. Pitelis, Christos & Teece, David, 2010. "Cross-border Market Co-creation, Dynamic Capabilities and the Entrepreneurial Theory of the Multinational Enterprise," MPRA Paper 23301, University Library of Munich, Germany.

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