When an irreversible decision is taken under uncertainty there is an option value of delay. If a small number of agents are in competition each one’s ability to delay is restricted by the fear of preemption, seeming to undermine the real options approach. We present a model in which two firms may invest in competing research projects with uncertain returns. Two distinct types of equilibria aris...

This article explores the pattern and breadth of collaboration activities of innovating firms active in renewable energy (RE), and the impact of collaboration on firm-level innovation performance. We deploy a unique dataset from a special section of the 2014 CIS survey in Denmark, in which we included questions that enable us to unambiguously identify RE innovators. In a quantitative analysis, ...

Article history: Received 3 June 2011 Available online 17 October 2013 JEL classification: C73 D83 O32

Abstract We examine the factors responsible for variation in ionization parameter ( U ) of high-redshift star-forming galaxies based on medium-resolution JWST/NIRSpec observations obtained by Cosmic Evolution Early Release Science survey. The sample consists 48 with redshifts z spec = 2.7−6.3, which are largely representative typical at these redshifts. [S ii ] λ 6718, 6733 doublet is used to e...

This paper models the determinants of exporting (both in terms of export propensity and export intensity), with a particular emphasis on the importance of absorptive capacity and the endogenous link between exporting and undertaking R&D. Based on a merged dataset of the 2001 Community Innovation Survey and the 2000 Annual Respondents Database for the UK, our results suggest that establishment s...

This paper contains a model of waste elimination through design. It argues for the importance of managing design complexity in improving cost, quality, variety, and time{to{market performance variables. Management of design complexity is identi ̄ed with creation, choice, and application of design problem representations, divisions of design labor, and product architectures that provably eliminat...

Regionalization is a part of globalization and a dynamic process of marching towards globalization. The so-called NADEs (Northeast Asia’s Dynamic Economies) including Japan, Korea and China are expected to lead economic growth in the Asia-Pacific region. This paper analyzes the trade and investment relationships among the three countries, points out the necessity for their technological coopera...

This paper investigates the relationship between engagement in consulting activities and the research performance of academic scientists. The study relies on a sample of 2678 individual faculty, from five Spanish universities, who have been recipients of publicly funded grants or have been principal investigators in activities contracted by external agents over the period 1999-2004. By implemen...

The literature on industrial districts (also referred to as business clusters) has grown out of recognition that spatial proximity among firms supports the formation and exchange of knowledge within an industry and is therefore a source of competitive advantage. While such a ‘territorial’ perspective on interfirm relationships is valuable in highlighting the informal means through which firms c...

This paper develops an empirical approach using econometric techniques for panel data which aims to contribute to the reduction/elimination of the deviation between the book and market value of firms. Based on 20 of the firms with the largest number of patents granted between 1996 and 2006, the results show that: (i) the increase in the return on equity following from an increase in the share o...