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Social Sciences x Technological Change; Research and Development x Financial Institutions and Services x Market Structure and Pricing x Information, Knowledge, and Uncertainy x clear all

Innovation, Competition, and Investment Timing

Yrjö Koskinen and Joril Maeland.

in The Review of Corporate Finance Studies

September 2016; p ublished online March 2016 .

Journal Article. Subjects: Market Structure and Pricing; Information, Knowledge, and Uncertainy; Investment Banking; Corporate Governance; Technological Change; Research and Development. 10504 words.

In our model multiple innovators compete against each other by submitting investment proposals to an investor. The investor chooses the least expensive proposal and the timing of the...