TY  - UNPD
A1  - Herbst, Patrick
A1  - Walz, Uwe
T1  - The design of vertical R&D collaborations
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2009,06
N2  - Suppliers play a major role in innovation processes. We analyze 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 tradeoff 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. JEL Classification: L22, L24, O31, O32
T3  - CFS working paper series - 2009, 06 
KW  - Managing Innovations
KW  - Vertical R&D
KW  - R&D Collaboration
KW  - Rent-Seeking
Y1  - 2009
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/6278
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-63776
ER  -