To ipos for some executives if their companies didrf

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to IPOs for some executives if their companies didrf t come through with additional securities business for CSFBor if CSFB concluded that other securities offerings by these companies would be unlikely. Goldman Sachs also used an IPO-allocation scheme to attract investment banking business, giving shares to executives at 21 companies- among the participants wete the CEOs of eBay, Yahoo, and Ford Motor Company. EBay's CEO
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20 7. was a participant in over 100 IPOs managed by Goldman during the L996-2000 period and was on Goldman's board of directors part of this time; eBay paid Goldman Sachs $8 milhon in fees for services during tllre L996-2001 period. QUESTIONS TO CONSIDER. (u) If you were a top executive at Salomon Smith Barney CSFB, or Goldman Sachs. How would you justify your company's actions ? (b) Would you want to step forward and take credit for having been a part of the group who designed or approved of the strategy foriaining new business at any of these three firms ? Read the illustration giaenbelout and answer the questions at the end, Interactive innovation in the enetgy industry jacquier-Roux and Bourgoois (2002) investigated innovation. activity in the energy production industries and found that in the period between 1985 and t998, paradoxically, as the R&D spending of the main oil and electricity production companieswent down, there was a simultaneous overall increase in the production of knowledge in these sectors (measured in terms of number of
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patents granted). This was explained by the change in these sectors towards more interactive- based innovation processes, where the level of collaboration in innovation activity between the main oil and electricity production companies and equipment suppliers increase markedly. During the period examined significant changes had occurred in these sectors which encouraged the main producers to reduce their R&D spending.
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