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Corporate Finance, Innovation, and Strategic Competition Cornelia Neff

Corporate Finance, Innovation, and Strategic Competition By Cornelia Neff

Corporate Finance, Innovation, and Strategic Competition by Cornelia Neff


$239.39
Condition - New
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Summary

Analysing how corporate finance decisions influence strategic competition and innovation of firms in the product market, this book considers bank loan and venture capital financing and shows that better access to financial resources improves a firm's market position and leads to innovation.

Corporate Finance, Innovation, and Strategic Competition Summary

Corporate Finance, Innovation, and Strategic Competition by Cornelia Neff

Industrial organization considers strategic behavior of firms in the product market. Firms compete in prices and invest in innovation activities in order to gain market shares. In this book I will investigate the financial decisions of innovative firms if financial markets are imperfect due to asymmetric information. I will demonstrate how financial market imperfections interact with strategic competition of firms in the product market. The tool to analyze these strategic interactions is non- cooperative game theory. This book was written while I was assistant professor at the department of economic theory at the University of Tlibingen. I wish to thank my supervisor Manfred Stadler for having suggested this interesting research subject. He introduced me to the exciting field of industrial organization and the economics of information. As my supervisor, he gave me great freedom to pursue my research. I would like to thank my colleagues Jiirgen Volkert, Andreas Scheuerle, Stephan Hornig, RUdiger Wapler and Leslie Neubecker for the nice and friendly atmosphere at our office. Katharina Wichert, Frank Breitling, Andrea Schrage, Stephan Gobel, Christina Schumacher, Alexandra Zaby, Tina Bach-Adetunji and Vanessa Steinmeier provided valuable research assistance. I am grateful to Werner Neus for being my second supervisor. He showed me that the department of banking and business administration and the department of economic theory share common views on financial markets under asymmetric information.

Table of Contents

1 Introduction.- 2 Financial structure and strategic competition.- 3 Credit financing and strategic competition.- 4 Venture capital financing and strategic competition.- 5 Conclusion.- References.- Figures.- Tables.- List of symbols.

Additional information

NLS9783540442943
9783540442943
3540442944
Corporate Finance, Innovation, and Strategic Competition by Cornelia Neff
New
Paperback
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
2002-11-13
218
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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