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dc.contributor.authorFabrizi, Simona
dc.contributor.authorLippert, Steffen
dc.date.available2011-12-06T03:25:04Z
dc.date.copyright2011-09-01
dc.identifier.citationFabrizi, S., & Lippert, S. (2011). Due diligence, research joint ventures, and incentives to innovate (Economics Discussion Papers Series No. 1113). University of Otago. Retrieved from http://hdl.handle.net/10523/2067en
dc.identifier.issn1178-2293
dc.identifier.urihttp://hdl.handle.net/10523/2067
dc.description.abstractThe decision to cooperate within R&D joint ventures is often based on ‘expert advice.’ Such advice typically originates in a due diligence process, which assesses the R&D joint venture’s profitability, for example, by appraising the achievability of synergies. We show that if the experts who advise the owners considering forming an R&D joint venture are also responsible for R&D efforts, they can have incentives to withhold information about the extent of those synergies. Owners optimally react by reducing the incentives to innovate in low-value projects developed within R&D joint ventures and in high-value projects developed within competing research organizations.en_NZ
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherUniversity of Otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.relation.urihttp://www.business.otago.ac.nz/econ/research/discussionpapers/index.htmlen_NZ
dc.subjectResearch and developmenten_NZ
dc.subjectdue diligenceen_NZ
dc.subjectexperts' adviceen_NZ
dc.subjectjoint ventureen_NZ
dc.subjectsynergiesen_NZ
dc.subjectasymmetric informationen_NZ
dc.subjectmoral hazarden_NZ
dc.subjectinformation withholding (concealing) and revelationen_NZ
dc.titleDue diligence, research joint ventures, and incentives to innovateen_NZ
dc.typeDiscussion Paperen_NZ
otago.schoolDepartment of Economicsen_NZ
otago.openaccessOpen
otago.relation.number1113en_NZ
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