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- External ventures: is developing inventions always core business?
External ventures: is developing inventions always core business?
Auteur :
Thomson
Russell,
Webster
Elizabeth
Année de Publication :
2011
Type : Article
Thème : Agriculture
Couverture :
Australie
URL Article :
http://iri.jrc.ec.europa.eu/concord-2011/papers/Thomson_Russell.pdfURL Source :
http://iri.jrc.ec.europa.eu 
Télécharger le document :
(177,64 kB) External ventures.pdfRésumé/Sommaire :
In this paper we consider why firms sometimes choose an external development path for their own inventions, despite the costs of contracting and the risks of opportunistic behaviour and expropriation. We model the probability that firms adopt an external development strategy using survey data from over 1400 Australian inventors. Our results indicate that firms pursue external development strategies in response to perceived project-level risk about the technical feasibility of the invention, especially when accompanied by confidence in the patent system. Our findings also confirm that SMEs, highly leveraged large firms and firms with few cospecialized assets are more likely to pursue an external development strategy.
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