Ownership, Cooperation and Competition in the Innovation Industry
Empirical studies show that established firms often obtain new technologies by acquiring small entrepreneurial firms, which are often financed with risk capital. Further, we observe that new firm strategies and new technologies are often introduced on the market by new entrepreneurial firms. These new strategies and technologies are then be picked up by established firms. An example of this is the entry of Ryan Air into the European airline market. This research program aims to increase our understanding of how the interaction among firms with different types of ownership occurs in the innovation market and how regulations, such as competition laws and systems for corporate taxation, affect this process.