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dc.contributor.authorHerbst, Patrick-
dc.contributor.authorWalz, Uwe-
dc.description.abstractSuppliers play a major role in the downstream firm's innovation processes. We analyse ownership allocations and the choice of R&D technology in vertical R&D cooperations. Given incomplete contracts on the R&D outcome, there is a trade-off between R&D specifically designed towards a manufacturer (increasing investment productivity) and a general technology (hold-up reduction). We find that the market solution yields the specific technology in too few cases. More intense product market competition shifts optimal ownership towards the supplier. The use of exit clauses increases the gains from the collaboration.en_UK
dc.publisherSocial Science Research Network-
dc.relationHerbst P & Walz U (2011) The Design of Vertical R&D Collaborations. SSRN Working Paper Series. Social Science Research Network.-
dc.relation.ispartofseriesSSRN Working Paper Series-
dc.rightsAuthor retains copyright.-
dc.subjectManaging innovationsen_UK
dc.subjectvertical R&Den_UK
dc.subjectR&D collaborationen_UK
dc.titleThe Design of Vertical R&D Collaborationsen_UK
dc.typeWorking or Discussion Paperen_UK
dc.type.statusPublisher version-
dc.contributor.affiliationAccounting and Finance-
dc.contributor.affiliationGoethe University Frankfurt-
Appears in Collections:Accounting and Finance Working Papers

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