How can businesses promote long‐term investment? What can corporations do to harness and promote research and development?
|Professor Avner Offer||Oxford University|
Considering the question, to what extent are some financial systems better at supporting long-term investment than others?, the research suggests that long term projects hold out the promise of large social payoffs, but they are uncertain. Therefore, one role of government and of not-for-profit social agencies is to embark on such risky projects on behalf of the public. The research will investigate the implication that any project with a remote break-even point cannot be undertaken exclusively by commercial finance and it will account for the way in which enterprise is divided between private and social agencies.