Does In-house R&D Increase Bargaining Power? Evidence from the Pharmaceutical Industry
2004
According to Gans & Stern (1999), firms engage in RD although, the effect is small. In the absence of the bargaining power effect, spending on R&D would be about 6% lower than it is. We also find that entry of technology licensors reduces firms' own R&D but has a positive overall effect on innovation.
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