000			03327cam a22003497 4500
001			w24448
003			NBER
005			20211020104605.0
006			m o d
007			cr cnu||||||||
008			210910s2018 mau fo 000 0 eng d
100	1		_aChing, Kenny.
245	1	0	_aControl Versus Execution: _bEndogenous Appropriability and Entrepreneurial Strategy / _cKenny Ching, Joshua S. Gans, Scott Stern.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2018.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w24448
500			_aMarch 2018.
520	3		_aThis paper considers the role of Rosenbergian uncertainty (i.e., economic uncertainties that arise after successful invention) in shaping appropriability for start-up innovators. Rather than assuming that the appropriability regime surrounding an innovation is exogenous, we focus on the endogenous choice entrepreneurs face between investing in ensuring control-based appropriability versus investing in the execution and operation of their fledgling businesses. Investment in execution allows entrepreneurs to advance more quickly than competitors, while control requires delays in commercialization. Control and execution are strategic substitutes as they represent alternative paths to earning future rents. Because the size and likelihood of these rents is uncertain, entrepreneurs may be unable to rank these alternative paths in advance, and so their endogenous choice will be grounded in factors such as individual preferences, capabilities, or coherence with their overall entrepreneurial strategy. A subtle consequence is that the appropriability regime ultimately governing an innovation will be the result of the endogenous choices of the entrepreneur rather than more traditional environmental factors. Motivated by notable historical examples such as the invention and commercialization of the telephone, we explore these ideas by considering the choice of appropriability regime among a sample of academic entrepreneurs: within a sample of ventures that could have been developed by either faculty or students (or both), we find that faculty-led ventures are much more closely associated with formal intellectual property, student-led ventures are more rapid in their commercialization activities, and, relative to faculty-led ventures, student-led ventures display a tradeoff between patenting and commercialization speed.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aO32 - Management of Technological Innovation and R&D _2Journal of Economic Literature class.
690		7	_aO34 - Intellectual Property and Intellectual Capital _2Journal of Economic Literature class.
700	1		_aGans, Joshua S. _911022
700	1		_aStern, Scott. _921183
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w24448.
856	4	0	_uhttps://www.nber.org/papers/w24448
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w24448
942			_2ddc _cW-PAPER
999			_c323674 _d282236