TY  - RPRT
        AU  - Colombo, Luca
AU  - Dawid, Herbert
AU  - Piva, Mariacristina
AU  - Vivarelli, Marco
        TI  - Does Easy Start-Up Formation Hamper Incumbents' R&D Investment? A Theoretical and Empirical Analysis
        PY  - 2013/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7302
        UR  - https://www.iza.org/publications/dp7302
        AB  - 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.
        KW  - R&D
KW  - innovation
KW  - start-up
KW  - complementary assets
        ER  -