In this paper we analyse the effect of R&D co-operation on firms' innovation performance. We investigate the effect of past co-operation on current sales of innovative products, distinguishing between products…
Real options investment theory predicts current investment falls as uncertainty about market returns increases. In the case of R&D investment, which is usually considered an irreversible form of investment, this…
Theoretical considerations suggest that secrecy reduces spillovers almost completely through non-disclosure, while the disclosure requirement of patents generates some spillover and at the same time allows…
