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| The Organizations of Reverse R&D Outsourcing for Incremental Innovations,Technology Spillover and Innovation Capability |
| Jiang Shicheng1,Li Jing2,Liang Long1 |
| (1.School of Business,East China University of Science and Technology,Shanghai 200237,China; 2.School of Economics,Shanghai University,Shanghai 200444,China) |
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Abstract The optimal R&D outsourcing organizations of the firms for incremental innovations without patents and tacit knowledge was seldom analyzed in the literatures which focus on how to mitigate knowledge leakage of the technology-advantaged firms.From the perspective of incomplete contracts,this paper analyzes how a company chooses between cooperation,M&A,delegation,and Greenfield Investment R&D,based on the trade-off between motivating agents to innovate and reducing cost of imperfect substitution of incremental innovations.Firms with higher technology prefer to get more control rights to reduce the cost of imperfect substitutability,and vice versa.The larger market size of the principle reduces the cost of imperfect substitutability,and prefers to reserve more control right to the agent to stifle the latter's incentive.The organization of Greenfield Investment R&D could be a tool for the risk-taking principle to reduce the cost of imperfect substitutability.The principle's innovative efforts,which determine both the technology spillovers in R&D outsourcing and the principle's innovation capability,are different in different organizations of R&D outsourcing.
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Received: 20 December 2019
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