Early Stage Investments in New Technology Based Firms Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics
Afbeeldingen
Artikel vergelijken
Auteur:
Holger Ludewig
Holger Ludewig
- 9783838612140
- 03 januari 1999
- 194 pagina's
Samenvatting
Inhaltsangabe: Abstract: In recent years the issue of early stage investment in new technology based firms has drawn considerable attention. Its relevance emerges from the rise of high technology industries in the global economy. As competition in established, mature industries all over the world is ever increasing, the importance of keeping up and increasing the speed of innovation to ensure competitiveness of companies and national wealth is widely recognized. Innovation may concern products or processes. It refers to the development of new proprietary knowledge, i. e. technology, which is embodied in marketable products or services. In as far as the added private knowledge increases the utility of a product to the customers, it adds value. Unless the new features of a product are matched by competitors, a company may earn innovation rents. Thus proprietary knowledge attained through innovation is an important source of strategic advantage. In a competitive, dynamic market, however innovation rents are not sustainable. Competitors will attempt to match and exceed the innovation advantage. This may be achieved by imitation or by adding other or more innovative features. Whereas following the product life cycle model initial growth may be steep and rents may be high for the first mover, imitators competing on price and other rivals competing on innovations, may inflate the monopolistic power of the proprietary knowledge. Striving to maintain and increase market shares and profitability, companies thus have a strong incentive to keep innovating. For new technology-based firms the importance of proprietary knowledge is particularly pronounced. These start-ups operate in a hostile competitive environment, characterized by high uncertainty, offering the potential for rapid growth and high profits on the upside, but also the substantial threat of incurring deep losses on the downside. Whereas large companies generally possess a diversified product portfolio and a host o"
Productspecificaties
Wij vonden geen specificaties voor jouw zoekopdracht '{SEARCH}'.
Inhoud
- Oorspronkelijke releasedatum
- 03 januari 1999
- Aantal pagina's
- 194
Betrokkenen
- Hoofdauteur
- Holger Ludewig
- Tweede Auteur
- Holger Ludewig
- Hoofduitgeverij
- Diplom.De
Overige kenmerken
- Product breedte
- 148 mm
- Product hoogte
- 11 mm
- Product lengte
- 210 mm
- Verpakking breedte
- 148 mm
- Verpakking hoogte
- 11 mm
- Verpakking lengte
- 210 mm
- Verpakkingsgewicht
- 259 g
EAN
- EAN
- 9783838612140
Je vindt dit artikel in
- Categorieën
Kies gewenste uitvoering
Bindwijze
(1)
Prijsinformatie en bestellen
Rapporteer dit artikel
Je wilt melding doen van illegale inhoud over dit artikel:
- Ik wil melding doen als klant
- Ik wil melding doen als autoriteit of trusted flagger
- Ik wil melding doen als partner
- Ik wil melding doen als merkhouder
Geen klant, autoriteit, trusted flagger, merkhouder of partner? Gebruik dan onderstaande link om melding te doen.