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Incomplete Contracting in a research Joint Venture: The Micronas Case.

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Abstract

In 1980 three Finnish companies established a research joint venture as a separate firm in order to develop semiconductors. This enterprise terminated in 1992 when the firm was sold. We study the RJV from the point of view of incomplete contacts, focusing on hold-up problems. Of particular interest is the contact governing the initial transfer of technology from foreign sources.

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