書誌事項

The markets for innovation, ownership and control

edited by Richard H. Day, Gunnar Eliasson, and Clas Wihlborg ; with contributions by Kenneth Arrow ... [et al.]

(IUI conference reports, 1992:1)

North-Holland, published in cooperation with IUI-Stockholm, 1993

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注記

Proceedings of a conference held at Saltsjöbaden near Stockholm, June 12-15, 1988 and sponsored by the Industrial Institute for Economic and Social Research (IUI) in association with the Marcus Wallenberg Foundation for International Cooperation in Science, etc

Includes bibliographical references

内容説明・目次

内容説明

Three themes are brought together in this volume: innovative activity, managerial performance in the organization of innovations, and markets for ownership and control. In consideration of these themes several specific questions are raised. For example, how are markets for ownership and control organized; how do they affect real economic development; how are incentives for managers and employers best organized for innovation; and what role is played by owners? In responding to these and other questions, dynamic market adjustment processes are stressed and particular attention is paid to the effectiveness of markets in supporting, filtering and diffusing innovative behaviour.

目次

Introduction: markets for innovation, ownership and control - toward a synthesis (R.H. Day, G. Eliasson, C. Wihlborg). Part 1 Interaction between finance and innovation - the basic facts: Entrepreneurial activity, banking and finance - historical aspects and theoretical suggestions (E. Dahmen). Innovative activity and venture financing: access to markets and opportunities in Japan, the US and Europe (T. Rybczynski). A note: on institutions as regulators of economic change (T. Kuran). Part 2 Bounded rationality and out-of-equilibrium adjustments: Bounded rationality and the coevolution of market and state (R.H. Day). Lessons from learning to have rational expectations (T. Lindh). A Note: on business myopia and market organization (C. Wihlborg). Part 3 The dynamics of firm behaviour: Agency costs and innovation (B. Holmstrom). Long-term firm growth and ownership organization (J. Glete). The firm as a competent team (G. Eliasson). Financial market imperfections and productivity growth (B.C. Greenwald, M. Kohn, J.E. Stiglitz). A note: on financial feedback, cost competition and market stability (R.H. Day). Part 4 The markets for ownership and control: evolution, economic competence, and the markets for corporate control (P. Pelikan). Finance, innovation and industrial change (G. Dosi). Firms' choice of R & D intensity in the presence of aggregate increasing returns to scale (S. Folster). The acquisition of technology and small firms by large firms (O. Granstrand, S. Sjolander). A note: on privatization, contract technology and economic growth (G. Eliasson). Part 5 Financial incentives and entrepreneurship: The incentive to acquire information and financial market efficiency (C. Wihlborg). Incentive contracts for managers who discover and manage investment projects (T.S. Campbell, Y.S. Chan, A.M. Marino). A note: on innovation and capital markets (S. Foster). Part 6 Summing up: Introduction (K. Arrow). general discussion. Part 7 Round table discussion with business leaders: Introduction (G. Eliasson). Introduction to the discussion (K. Arrow). Discussion. Appendix: List of conference participants.

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  • IUI conference reports

    Industrial Institute for Economic and Social Research : Distributor, Almqvist & Wiksell International , North-Holland

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