Internal capital markets, divisional rent-seeking and optimal incentives: theory and evidence. There exists a considerable gap between real-world economic organizations and the economic theory of the firm. This project provides formal theories of resource allocation within multidivisional corporations and the nature of optimal incentives, thereby contributing to fill this gap. The project is expected to produce highest-quality research publishable in top-tier journals. This will, among others, e ....Internal capital markets, divisional rent-seeking and optimal incentives: theory and evidence. There exists a considerable gap between real-world economic organizations and the economic theory of the firm. This project provides formal theories of resource allocation within multidivisional corporations and the nature of optimal incentives, thereby contributing to fill this gap. The project is expected to produce highest-quality research publishable in top-tier journals. This will, among others, enhance Australia's standing as a knowledge nation. Additional benefit comes from the possibility of longer term collaborative research between Monash University and the University of Bristol, and possible research collaboration between Australian and British economists that goes beyond the two institutions. Read moreRead less
Knowledge and Networks: An Evaluation of Patent Citation Activity and Active Knowledge Networks. Although many methods from many disciplines have been used, somewhat imperfectly, to examine knowledge creation and knowledge networks, the most accepted method in economics and strategy is patent citation analysis. Yet, even users of the methodology recognize that it is an imperfect measure of innovation, innovativeness and network linkages between innovations. The study sets up a methodology to ex ....Knowledge and Networks: An Evaluation of Patent Citation Activity and Active Knowledge Networks. Although many methods from many disciplines have been used, somewhat imperfectly, to examine knowledge creation and knowledge networks, the most accepted method in economics and strategy is patent citation analysis. Yet, even users of the methodology recognize that it is an imperfect measure of innovation, innovativeness and network linkages between innovations. The study sets up a methodology to examine the relationship between citations and network interactions between patent applicants. The value of the research is in providing a better measure of innovation and knowledge and in the normative lessons about establishing better scientific networks.Read moreRead less