Competition and investment in flexible technologies
Article Abstract:
The effects of market structure on investment in flexible manufacturing systems (FMS) are examined. In the first stage of a two-stage game, firms choose between a flexible and a less flexible technology, where the latter refers to technology dedicated to one product. The second stage then involves the choice of production quantities. Equilibrium analysis indicates that there are more FMS firms in concentrated markets than in more competitive environments. The results suggest that maintenance of more FMS firms may result from a larger market or more product differentiation. Empirical support for such effects was obtained from a cross-sectional study involving data at the industry level from the 1982 US Bureau of the Census and similar Japanese statistics for 1987.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1993
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Segmenting the informal venture capital market: economic, hedonistic, and altruistic investors
Article Abstract:
The factors influencing the investment behavior of venture capitalists are studied. Results show three different types of investor motivations, namely, economic, hedonistic and altruistic. Economic motives are those focused on economic gains. Hedonistic motives refer to noneconomic returns while altruistic motives stem from a desire to help the fellow man. It is argued that entrepreneurs should integrate marketing strategies into their capital raising efforts to appeal to different investors.
Publication Name: Journal of Business Research
Subject: Business, general
ISSN: 0148-2963
Year: 1996
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