Financial techniques, institutions and innovation
This 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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|Date of creation:||26 Nov 2003|
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- Mayer, Colin & Alexander, Ian, 1990. "Banks and securities markets: Corporate financing in Germany and the United Kingdom," Journal of the Japanese and International Economies, Elsevier, vol. 4(4), pages 450-475, December.
- Miller, Peter & Napier, Christopher, 1993. "Genealogies of calculation," Accounting, Organizations and Society, Elsevier, vol. 18(7-8), pages 631-647.
- Armstrong, Peter, 2002. "The costs of activity-based management," Accounting, Organizations and Society, Elsevier, vol. 27(1-2), pages 99-120.
- Mayer, Colin, 1997. "The City and Corporate Performance: Condemned or Exonerated?," Cambridge Journal of Economics, Oxford University Press, vol. 21(2), pages 291-302, March.
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