Financial techniques, institutions and innovation
AbstractThis paper reviews the relationship between financial evaluation and control techniques and innovative activity in a range of contexts. The relationship is broadly conceived to include both the financial techniques developed and deployed within the firm and the evaluative behaviour of financial institutions external to the firm such as venture capital and industrial investment banking. With innovative and investment opportunities tending to vary over time within an industry, it becomes apparent that there can be no permanent solution to the common problem of how to trade off financial control for organisational stability against the need to trust devolved organisational forms in control of innovative development projects.
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Bibliographic InfoPaper provided by University of Aarhus, Aarhus School of Business, Department of Management in its series Working Papers with number 2003-3.
Length: 52 pages
Date of creation: 26 Nov 2003
Date of revision:
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Postal: The Aarhus School of Business, Fuglesangs Allé 4, DK-8210 Aarhus V, Denmark
Phone: +45 89 48 66 88
Fax: + 45 86 15 01 88
Web page: http://www.asb.dk/about/departments/man.aspx
More information through EDIRC
Financial evaluation; Innovation;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-11-30 (All new papers)
- NEP-ENT-2003-11-30 (Entrepreneurship)
- NEP-HIS-2003-11-30 (Business, Economic & Financial History)
- NEP-MFD-2003-11-30 (Microfinance)
- NEP-TID-2003-11-30 (Technology & Industrial Dynamics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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