Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71743
Authors: 
Colombo, Luca
Dawid, Herbert
Piva, Mariacristina
Vivarelli, Marco
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper Series, Forschungsinstitut zur Zukunft der Arbeit 7302
Abstract: 
This paper investigates, both theoretically and empirically, the implications that complementary assets needed for the formation of start-ups - proxied by the ease of access to financial resources - have on the innovative efforts of incumbent firms. In particular, we develop a theoretical model, highlighting a strategic incentive effect by which the innovative efforts of incumbent firms are decreasing in the availability of the complementary assets needed for the creation of a start- up. The empirical relevance of this effect is investigated by using firm level data drawn from the third Italian Community Innovation Survey covering the period 1998-2000. The results of our empirical analysis support our theory-based insights.
Subjects: 
R&D
innovation
start-up
complementary assets
JEL: 
O31
L26
Document Type: 
Working Paper

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