Merih Sevilir
Current Organizations / Institutes
The organizations/institutes from the scholar's latest article
Research Subjects
Research Interests
Merih Sevilir has a total of 1 co-authors. Here are the top co-authors by number of shared publications:
- Paolo Fulghieri
Kenan-Flagler Business School, University of North Carolina, Campus Box 3490, Chapel Hill, NC 27599, Centre for Economic Policy Research (CEPR), and European Corporate Governance Institute (ECGI)
1 shared publication
Latest Publications
- 9 October 2009
- Published by Cambridge University Press (CUP) in Journal of Financial and Quantitative Analysis
- Vol. 44 (6) , 1291-1321
Organization and Financing of Innovation, and the Choice between Corporate and Independent Venture Capital
This paper examines the impact of competition on the optimal organization and financing structures in innovation-intensive industries. We show that as an optimal response to competition, firms may choose external organization structures established in collaboration with specialized start-ups where they provide start-up financing from their own resources. As the intensity of the competition to innovate increases, firms move from internal to external organization of projects to increase the speed of product innovation and to obtain a competitive advantage with respect to rival firms in their industry. We also show that as the level of competition increases, firms provide a higher level of financing for externally organized projects in the form of corporate venture capital (CVC). Our results help explain the emergence of organization and financing arrangements such as CVC and strategic alliances, where large established firms organize their projects in collaboration with external specialized firms and provide financing for externally organized projects from their own internal resources.
- 9 October 2009
- Published by Cambridge University Press (CUP) in Journal of Financial and Quantitative Analysis
- Vol. 44 (6) , 1291-1321
Organization and Financing of Innovation, and the Choice between Corporate and Independent Venture Capital
This paper examines the impact of competition on the optimal organization and financing structures in innovation-intensive industries. We show that as an optimal response to competition, firms may choose external organization structures established in collaboration with specialized start-ups where they provide start-up financing from their own resources. As the intensity of the competition to innovate increases, firms move from internal to external organization of projects to increase the speed of product innovation and to obtain a competitive advantage with respect to rival firms in their industry. We also show that as the level of competition increases, firms provide a higher level of financing for externally organized projects in the form of corporate venture capital (CVC). Our results help explain the emergence of organization and financing arrangements such as CVC and strategic alliances, where large established firms organize their projects in collaboration with external specialized firms and provide financing for externally organized projects from their own internal resources.