TY - BOOK ID - 126343600 TI - Principal investigators and R&D failure : probability of innovation failure in small businesses PY - 2023 SN - 9783031436086 PB - Cham : Springer International Publishing AG, DB - UniCat KW - Business failures. KW - Research and development projects. KW - Research, Industrial. UR - https://www.unicat.be/uniCat?func=search&query=sysid:126343600 AB - Failure in R&D efforts are fairly common and with many factors that contribute to the outcome. This book focuses on the role of principal investigators (PIs) in R&D project failures and provides a theoretical model explaining how firm characteristics, including those of the PIs, impact the probability of failure. The theoretical model also serves as a structural form model to motivate the empirical analysis which assesses the probability of failure in small technology-based firms. The author uses data from the U.S. Department of Energy’s (DOE) Small Business Innovation Research (SBIR) program to build a new and informative tool to assess R&D projects and demonstrate the strengths of the theoretical model. The association between PIs and R&D failure not only provides insights that can have a downstream impact to economic growth, but it can also provide policymakers with valuable information to aid decisions in allocating funds for R&D. ER -