Does easy start-up formation hamper incumbents’ R&D investment?
Luca Colombo (),
H. Dawid (),
Mariacristina Piva () and
Marco Vivarelli ()
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H. Dawid: Bielefeld University
Small Business Economics, 2017, vol. 49, issue 3, 513-531
Abstract This paper investigates the implications that complementary assets needed for the formation of start-ups have on the innovative efforts of incumbent firms. In particular, we highlight a strategic incentive effect by which the innovative efforts of incumbents are decreasing in the availability of the complementary assets needed for the creation of a start-up. Furthermore, we argue that the R&D investments of incumbents are positively related to the presence of policy support to innovation, and to the firm’s endowment of human capital. The empirical relevance of our theoretical hypotheses is investigated—and supported—by using firm level data.
Keywords: R&D; Innovation; Start-up; Complementary assets (search for similar items in EconPapers)
JEL-codes: O31 L26 (search for similar items in EconPapers)
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