Corporate Governance, Market Structure and Innovation

Corporate Governance, Market Structure and Innovation


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This book investigates the impact of recent changes involving privatization, mergers and acquisitions, and market liberalization. It outlines the theoretical background for understanding these changes, and presents an empirical analysis drawn from longitudinal data concerning the U.S. and European markets. The authors argue that these institutional discontinuities may seriously affect the short- term market value of individual firms, and the long-term performance of whole nations. Annotation ©2003 Book News, Inc., Portland, OR

Product Details

ISBN-13: 9781840648768
Publisher: Elgar, Edward Publishing, Inc.
Publication date: 01/01/2003
Pages: 304
Product dimensions: 7.98(w) x 8.30(h) x 0.87(d)

Table of Contents

List of Figuresvii
List of Tablesix
List of Contributorsxi
Part IMarket Structure, Corporate Governance and Innovation
1.Corporate Governance and Innovation3
2.Market Structure and the Balance of R&D Investments28
3.Mergers and Acquisitions and Innovation Strategies45
Part IIPrivatization, Liberalization and R&D Activities
4.Privatization's Effects on R&D Investments67
5.Liberalization and the Balance of R&D Activities: An Empirical Analysis92
6.The Effects of M&As on the Innovation Performance of Acquired Companies120
7.The Organization of R&D Activities within Privatized Companies141
Part IIIThe Economic Value of R&D Activities
8.A Meta-analytic Study of the Relationship between R&D Investments and Corporate Value177
9.R&D and Market Value: The Case of Privatized Companies200
10.R&D Financing and Stock Markets217
Part IVConclusions
11.Conclusions and Policy Implications243

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