Item description for Corporate Finance, Innovation, and Strategic Competition by Cornelia Neff...
This book analyzes how corporate finance decisions influence strategic competition and innovation of firms in the product market. We consider bank loan financing and venture capital financing. Due to assymetric information, firms must sign special contracts with banks or venture capitalists. The financial contracts, in turn, determine the competitive strategies of firms in the product market. Firms compete in prices for market shares. In addition to that, firms invest in R&D in order to induce product or process innovation. We show that better access to financial resources improves a firm's market position and leads to a higher rate of innovation. Cash-rich firms may even decide to prey upon financially restricted rivals in order to prevent new market entry or to induce market exit.
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Est. Packaging Dimensions: Length: 9.1" Width: 5.9" Height: 0.5" Weight: 0.75 lbs.
Release Date Dec 16, 2002
ISBN 3540442944 ISBN13 9783540442943
Availability 131 units. Availability accurate as of Mar 30, 2017 08:42.
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