Eliasson, Gunnar () (Royal Institute of Technology) Eliasson, Åsa (VitiGen AG)
Abstract
Five problems are addressed: (1) the role of competent actors in the venture capital and exit markets supporting the industrialization of winning technologies in small innovative firms, (2) the competence of the large firm to integrate large-scale operational efficiency with small-scale innovative capability through distributed development work and integrated production and (3) the importance of viable markets for strategic acquisitions, both in making this possible and in allowing a flexible choice for the small firm between growing aggressively on its own through own acquisitions, or being acquired strategically itself. We (4) find that the less developed markets in continental Europe may be a disadvantage compared to the US in ushering in a future New Economy. We finally (5) discuss what becomes of the Coasian theory of the firm when production is constantly outsourced in, or insourced from the market as the relative efficiency of coordination through management and over the market changes.
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Paper provided by The Ratio Institute in its series Ratio Working Papers with number
44.
Length: 33 pages Date of creation: 24 May 2004 Date of revision: Publication status: Forthcoming in Entrepreneurship, the New Economy and Public Policy, Cantner, Uwe, Klepper, Stephen, Hanusch, Horst (eds.), 2004, chapter 00, Physica Verlag. Handle: RePEc:hhs:ratioi:0044
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References listed on IDEAS 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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"The theory of the firm,"
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[Downloadable!] (restricted)
Boyan Jovanovic & Peter L. Rousseau, 2002.
"Mergers as Reallocation,"
NBER Working Papers
9279, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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