๐”– Bobbio Scriptorium
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Strategic timing in R&D agreements

โœ Scribed by Marini, Marco A.; Petit, Maria L.; Sestini, Roberta

Book ID
124081834
Publisher
Taylor and Francis Group
Year
2013
Tongue
English
Weight
412 KB
Volume
23
Category
Article
ISSN
1043-8599

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This paper studies how a separation of ownership and management affects ยฎrms' R&D and production decisions in Cournot quantity competition. It is found that when R&D spillovers are small, owners strategically direct their managers away from proยฎt maximization towards sales. Consequently, managerial