1,679 research outputs found
Les facteurs explicatifs de la coopération entre firmes. Le cas des technologies de l'information
No full text[fre] Cet article se propose de mettre en lumière les facteurs qui incitent les entreprises à recourir à des accords de coopération. L'étude repose sur une analyse économétrique d'un échantillon composé de 100 des plus grandes entreprises mondiales appartenant aux secteurs des semiconducteurs, de l'informatique et des télécommunications. Les données relatives à la propension des entreprises à collaborer pendant la période 1961-86, fournies par la base de données ARPA développée auprès du Politecnico di Milano, sont mises en corrélation avec des variables spécifiques des firmes, des secteurs et des pays. Les résultats des estimations économétriques mettent en évidence l'importance de la dimension des entreprises, de la diversification du champ d'activité dans le cadre des secteurs considérés et du degré d'internationalisation pour expliquer la propension à conclure des accords. De plus, l'étude contient des éléments qui confortent l'existence d'une relation complémentaire entre les liens entre entreprises et les investissements. En revanche, les résultats concernant les relations entre dépenses de R&D internes et recours aux accords ne sont pas bien définis. [eng] This paper aims to shed light on firm-specific factors that lead firms to resort to collaborative ventures. The study relies on an extensive econometric analysis of a sample composed of 100 out of the largest firms in three IT industries (semi-conductor, data processing, and telecommunications). Data relating to the propensity of firms to cooperate in the 1981-86 period, provided by the ARPA data-base developed at Politecnico di Milano, are correlated with firm, — industry — and country-specific variables. The findings of the econometric estimates point to the importance of firm-specific characteristics in incentivating use of collaborative arrangements. In particular, firm size, scope of activity within the industries considered, anddegree of internationalisation figure prominently in explaining propensity towards agreements. Moreover, the study provides evidence in support of a complementary relation between interfirm linkages and internal capital expenditures. On the contrary, econometric results regarding the relation between internal R&D and recourse to agreements are mixed.
Resource Sourcing through Acquisitions and Firms’ Exit: The Case of Life Science European SMEs
No full textR&D subsidies and the performance of high-tech start-ups
No full textThis paper addresses the question of the efficacy of R&D policy measures in support of high-tech startups.
We show that subsidies awarded on a competitive basis lead to a positive effect, while those assigned
through an automatic procedure do not
Innovazione tecnologica e rapporti di cooperazione fra imprese. Un'indagine nel settore dell'automazione industriale
No full text
Exploring the Acquisitive Growth Strategies of SMEs: The Case of Life Science European Start-ups
No full textAcquisitions represent a prominent channel of firms’ external growth. While the evidence is mostly based on acquisitions by large incumbents, the acquisitive growth of SMEs is largely overlooked. Small firms have such distinctive characteristics that are likely to shape acquisitive growth and its outcomes in a different way with respect to what has been already theorized for acquisitions involving large firms.
Using comprehensive data on acquisitions deals and liquidity events, we explore the acquisitive growth strategies of SMEs in the life science industry. We examine the type of acquisitions and its prospective outcome for acquiring SMEs by relying on tangible milestones of firms’ liquidity events (i.e., IPO, M&A, bankruptcy)
The Simultaneous Diffusion of Technological and Organizational Innovations: A Test of Complementarity
No full textVenture capital and the delegation of decision authority in startups: an exploratory study
No full textWe study the delegation of authority over strategic decisions in startups and how it relates to venture capital (VC) investment through a mixed-methods study. We first show that startups typically centralize decision authority. The extent of delegation is higher if startups are VC-backed. In startups backed by corporate VC investors the aim is to leverage the unique knowledge possessed by entrepreneurial team members in a context characterized by low principal-principal agency costs. In those backed by independent VC investors, the increase in delegation is paired with the emergence of a polyarchy and decoupling between the formal and real organizations. In this situation delegation may serve as a control mechanism aligning the actions of startups with the interests of the VC investors
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