第一届文澜经济测度与应用计量经济学系列讲座 之 中南财经政法大学 陈昌志 副教授:“Leverage Puzzles: New Insights from Innovation”
日期:2019-10-12             信息来源:文澜学院

主题|TopicPrice  Competition  and  Vertical  R&D  Cooperation

时间|Time1025日|Oct 25th , 16:30- 15:45PM

地点Venue文澴楼809Meeting Room 809WENHUAN

 

主讲|Speaker

陈昌志老师现为文澜学院副教授。已在 Journal of Real-Estate Finance and EconomicsEconomic ModellingAfrican Journal of Business ManagementInternational Review of Economics and Finance 等杂志发表文章十余篇。

 

研究领域|Research Interests

公司金融优化、保险金融、财务经济、风险管理

 

摘要|Abstract

We examine how firms’ involvement in vertical R&D cooperation reacts to changes in product price competition. In the model firms choose the R&D cost-sharing ratio for R&D cooperation with vertical partners, while R&D investment amounts are chosen by partners. The optimization of cost-sharing ratio equates marginal vertical R&D benefit spillovers and marginal R&D cooperation costs. Firms facing fiercer price competition choose a relatively lower (higher) cost-sharing ratio for R&D cooperation with downstream (upstream) partners. A key intuition is that firms absorb R&D benefit spillovers from downstream (upstream) by increasing (decreasing) product price. The influence of price competition on vertical R&D cooperation is more pronounced when partners have stronger incentives to invest in R&D.