@TechReport{iza:izadps:dp7302,
            	author={Colombo, Luca and Dawid, Herbert and Piva, Mariacristina and Vivarelli, Marco},
            	title={Does Easy Start-Up Formation Hamper Incumbents' R&D Investment? A Theoretical and Empirical Analysis},
            	year={2013},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={7302},
            	url={https://www.iza.org/index.php/publications/dp7302},
	abstract={This paper investigates, both theoretically and empirically, the implications that complementary assets needed for the formation of start-ups – proxied by the ease of access to financial resources – have on the innovative efforts of incumbent firms. In particular, we develop a theoretical model, highlighting a strategic incentive effect by which the innovative efforts of incumbent firms are decreasing in the availability of the complementary assets needed for the creation of a start- up. The empirical relevance of this effect is investigated by using firm level data drawn from the third Italian Community Innovation Survey covering the period 1998-2000. The results of our empirical analysis support our theory-based insights.},
	keywords={R&D;innovation;start-up;complementary assets},
            }