Showing papers by "Maurizio Sobrero published in 2008"

Uncertainty and the market valuation of R&D within a real options logic

Abstract: The aim of this study is to provide new theoretical insights and empirical evidence on the effect of market and technological uncertainty on the market valuation of a firm's R&D capital. A set of hypotheses is developed adopting a real options logic and tested on a panel dataset of 290 manufacturing firms traded in the UK. Consistently with our theoretical model, we show that market and technological uncertainty have distinct effects on the valuation of R&D investments. The results have several important implications for resource allocation to R&D under uncertainty, which we discuss in the concluding section. Copyright © 2008 John Wiley & Sons, Ltd.

Uncertainty and the Market Valuation of R&D within a Real Options Logic

Abstract: The aim of this study is to provide new theoretical insights and empirical evidence on the effect of market and technological uncertainty on the market valuation of a firm's R&D capital. A set of hypotheses is developed adopting a real options logic and tested on a panel dataset of 290 manufacturing firms traded in the UK. Consistently with our theoretical model, we show that market and technological uncertainty have distinct effects on the valuation of R&D investments. The results have several important implications for resource allocation to R&D under uncertainty, which we discuss in the concluding section.

OSIRIDE - L’Osservatorio Degli Spin-Off Della Ricerca Della Regione Emilia Romagna (OSIRIDE - The Observatory of Science-Based Spin-Offs in Emilia Romagna)

Abstract: Italian Abstract: Il report e' volto a caratterizzare la popolazione delle 83 imprese nate dalla ricerca pubblica delle 5 universita' e 3 centri di ricerca, fra il 1997 e il 2007, in Emilia Romagna. L'osservatorio OSIRIDE e' un progetto del Dipartimento di Scienze Aziendali dell'Universita' di Bologna e di ASTER. English Abstract: In this report we characterise the population of 83 science-based ventures, spun-off from the 5 public universities and 3 public research centres, between 1997 and 2007, in Emilia Romagna (Italy). The OSIRIDE observatory is a joint effort of the Department of Management of the University of Bologna and ASTER.