TY - JOUR
T1 - Does easy start-up formation hamper incumbents' R&D investment?
AU - Colombo, Luca Vittorio Angelo
AU - Dawid, H.
AU - Piva, Mariacristina
AU - Vivarelli, Marco
PY - 2017
Y1 - 2017
N2 - This paper investigates the implications that complementary assets needed for the formation of start-ups have on the innovative efforts of incumbent firms. In particular, we highlight a strategic incentive effect by which the innovative efforts of incumbents are decreasing in the availability of the complementary assets needed for the creation of a start-up. Furthermore, we argue that the R&D investments of incumbents are positively related to the presence of policy support to innovation, and to the firm's endowment of human capital. The empirical relevance of our theoretical hypotheses is investigated - and supported - by using firm level data.
AB - This paper investigates the implications that complementary assets needed for the formation of start-ups have on the innovative efforts of incumbent firms. In particular, we highlight a strategic incentive effect by which the innovative efforts of incumbents are decreasing in the availability of the complementary assets needed for the creation of a start-up. Furthermore, we argue that the R&D investments of incumbents are positively related to the presence of policy support to innovation, and to the firm's endowment of human capital. The empirical relevance of our theoretical hypotheses is investigated - and supported - by using firm level data.
KW - Complementary assets
KW - Innovation
KW - R&D
KW - Start-up
KW - Complementary assets
KW - Innovation
KW - R&D
KW - Start-up
UR - https://publicatt.unicatt.it/handle/10807/108478
UR - https://www.scopus.com/inward/citedby.uri?partnerID=HzOxMe3b&scp=85023746468&origin=inward
UR - https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85023746468&origin=inward
U2 - 10.1007/s11187-017-9900-8
DO - 10.1007/s11187-017-9900-8
M3 - Article
SN - 0921-898X
VL - 49
SP - 513
EP - 531
JO - Small Business Economics
JF - Small Business Economics
IS - 3
ER -