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on Small Business Management |
| By: | Christos Karydas (ETH Zurich, Switzerland) |
| Abstract: | How should governments best allocate their budget to support private research activities? The consensus in the literature is that sector-specific R&D support policies should be increasing in the degree of compatibility of sectoral innovation with the practices of the wider economy. Using a multi-sector endogenous growth model with in-house R&D and knowledge spillovers, it is shown, that accounting for the time it takes for an innovation to diffuse modifies this widely-accepted result. Wide applicability of green innovations alone does not justify higher research subsidies. |
| Keywords: | Climate Policy, Industrial Policy, Innovation Spillovers, Technology Diffusion, Endogenous Growth |
| JEL: | O31 O33 Q54 Q55 Q58 H23 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:eth:wpswif:17-267&r=sbm |
| By: | John Spray; Sebastian Wolf |
| Abstract: | We use unique high-frequency Government of Uganda and Government of Rwanda tax administration datasets to map the characteristics of ‘industries without smokestacks’ in East Africa. First, we find firm size appears to be crucial for successful industries without smokestacks in services and agro-processing. Second, we find that firms do not need to be active in the external economy themselves to achieve high levels of productivity, but that strong links to external sector actors are more common among more productive firms. Third, all industries with high levels of labour productivity rely heavily on imported inputs, though this is more pronounced in the manufacturing sector. We then identify the role of cross-sector spillovers in economic performance. We find that all of the top ten most interconnected sectors of the economy are either in manufacturing or services. We show that growth in output and productivity in these sectors is a strong indicator of overall economic growth. Finally, we show that sales and employment spillovers from foreign direct investment are most likely to occur in the manufacturing sector. |
| Keywords: | economic growth, industry, firm size, tax administration data, Uganda, Rwanda |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2017-12&r=sbm |
| By: | Mühlbauer, Stefan |
| Abstract: | Foundation owned firms are an interesting research object to test ownership influence on firms´ performance. Research claims that the foundation as an organization without natural owner leads to significant agency cost because there is no residual claimant with an incentive to control. Nevertheless, this inferior performance could not be found empirically (Herrmann (1997), Thomsen (1999), Thomsen (2004)). This paper gives an explanation for this puzzling result: most foundation owned firms are not as owner-less as it seems. The presented model is the first to analyse game theoretically a firm succession decision with the option to choose a foundation as successor, a form of succession very popular in Central and Northern Europe. More precisely the succession decision is analysed in a delegation model by Holmstrom (1977) and Melumad & Shibano (1991). It is assumed that the founder can either pass his firm on to his successor or donate his firm to a foundation. It is shown that a foundation as successor can be rational, as, by setting it up and designing it, the founder can restrict the successors discretion and therefore can prevent specific events from happening, for example the sale of his firm. The model illustrates the basic trade-off a founder faces. In order to keep control he has to sacrifices adaptability of future management. The founder leaves his successor as actual owner despite donating it to a foundation. This could explain the many ways how foundations and firms are legally arranged in Germany and could have important implications for future empirical research on foundation owned firms. |
| JEL: | L25 L21 M12 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc16:145719&r=sbm |
| By: | Gianluca Misuraca (European Commission – JRC); Giulio Pasi (European Commission – JRC); Dimitri Gagliardi; Fabienne Abadie (European Commission – JRC) |
| Abstract: | This issue of the ‘JRC Insights’ discusses how ICT-enabled social innovation initiatives that promote social investment through integrated approaches to social services delivery can contribute to the policy objectives of the EU Social Investment Package. Digitally-enhanced social service delivery can promote social investment. ICTs often play a game-changing role in the development of platforms that support innovative partnerships. Here, social challenges can be addressed by focusing on two objectives: (i) the modernisation of social protection systems in the EU Member States and, (ii) promoting experimental approaches to innovation-driven social investments. Modernisation and experimentation in social protection systems has been revived by the emergence of a new type of business, private or not for profit, in the field of social services. These businesses explore or even co-create innovative financial instruments. In particular, evidence gathered shows that ICT-enabled social innovation initiatives respond to the social needs of society or specific groups in society by facilitating co-creation and co-production processes. These processes enrich policy design with stakeholders' specific knowledge and competencies. ICT-enabled social innovation initiatives have the capacity to identify emerging or unmet needs, engage stakeholders and turn their governance models into sustainable production processes. This aspect makes their contributions to social investment approaches particularly apt. |
| Keywords: | Social investment, social policy innovation, SIP, Social Investment Package, social economy, social enterprise, ICT enabled social innovation, ICT, services, social protection, social welfare |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105678&r=sbm |
| By: | Gianluca Misuraca (European Commission – JRC); Csaba Kucsera (European Commission – JRC); Giulio Pasi (European Commission – JRC); Dimitri Gagliardi (University of Manchester); Fabienne Abadie (European Commission – JRC) |
| Abstract: | This report presents the results of the analysis of the consolidated mapping of ICT-enabled social innovation initiatives promoting social investment gathered as part of the research project entitled 'ICT-Enabled Social Innovation to support the Implementation of the Social Investment Package' (IESI). The dataset includes 613 initiatives inventoried over the course of the research, out of which 300 have been mapped and are part of the IESI Knowledge Map 2016. The results of the analysis of the IESI mapping is meant to help policymakers and practitioners to use ICT-enabled social innovation to modernise EU welfare states, providing better and more efficient social services and increasing the skills, wellbeing and resilience of EU citizens. In this perspective, the documented research design, its proposed terminology, theoretical framework and findings contribute to the growing scientific interest and debate about ICT-enabled social innovations in the field of social services innovation and social policy redesign within the scope of the emerging discussion on the European Pillar of Social Rights and the future of welfare systems. |
| Keywords: | Social policy, innovation, ICT, social investment, social policy innovation, SIP, Social Investment Package, social economy, social enterprise, ICT enabled social innovation, ICT, services, social protection, welfare, mapping, welfare reforms, wellbeing, resilience |
| JEL: | I31 I38 O35 O33 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105556&r=sbm |
| By: | Carol Newman; John Page |
| Abstract: | Firms tend to cluster in close geographic proximity to each other to benefit from reduced transport costs, shared inputs, and productivity spillovers due to learning and technology transfers. Evidence from low-income countries suggests that such agglomeration economies may be substantial in endogenously formed clusters. This raises the question of whether spatial industrial policies can be designed to facilitate clustering. In this paper, we consider the case for creating Special Economic Zones (SEZs) in Africa. We document at the country level the state of current SEZ programmes and the policy measures in place for their promotion. We give an overview of the evidence on their success and provide a set of policy recommendations to improve SEZs performance. |
| Keywords: | agglomeration, Special Economic Zones, spatial industrial policy, Africa |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2017-15&r=sbm |
| By: | Piva, Mariacristina (Università Cattolica del Sacro Cuore); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | The aim of this paper is twofold. On the one hand, the economic insights about the employment impact of technological change are disentangled starting from the classical economists to nowadays theoretical and empirical analyses. On the other hand, an empirical test is provided; in particular, longitudinal data – covering manufacturing and service sectors over the 1998-2011 period for 11 European countries – are used to run GMM-SYS and LSDVC estimates. Two are the main results: 1) a significant labour-friendly impact of R&D expenditures (mainly related to product innovation) is found; yet, this positive employment effect appears to be entirely due to the medium-and high-tech sectors, while no effect can be detected in the low-tech industries; 2) capital formation is found to be negatively related to employment; this outcome points to a possible labour-saving effect due to the embodied technological change incorporated in gross investment (mainly related to process innovation). |
| Keywords: | technological change, employment, sectoral analysis, EU |
| JEL: | O33 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10471&r=sbm |
| By: | Lina Cortés; Andrés Mora-Valencia; Javier Perote |
| Abstract: | In this article, we propose a new methodology based on a (log) semi-nonparametric (log- SNP) distribution that nests the lognormal and enables better fits in the upper tail of the distribution through the introduction of new parameters. We test the performance of the lognormal and log-SNP distributions capturing firm size, measured through a sample of US firms in 2004-2015. Taking different levels of aggregation by type of economic activity, our study shows that the log-SNP provides a better fit of the firm size distribution. We also formally introduce the multivariate log-SNP distribution, which encompasses the multivariate lognormal, to analyze the estimation of the joint distribution of the value of the firm’s assets and sales. The results suggest that sales are a better firm size measure, as indicated by other studies in the literature. |
| Keywords: | Firms size distribution; Heavy tail distributions; Semi-nonparametric modeling; Bivariate distributions. |
| JEL: | C14 C53 L11 |
| Date: | 2017–01–16 |
| URL: | http://d.repec.org/n?u=RePEc:col:000122:015300&r=sbm |
| By: | Elena Tkach (Russian Presidential Academy of National Economy and Public Administration, Chelyabinsk branch); Anastasiya Belanova (Russian Presidential Academy of National Economy and Public Administration, Chelyabinsk branch) |
| Abstract: | The article considers the necessity to improve financial support of small business with the aim of providing economic security. Special attention is paid to the necessity of realizing tools of financial support of small enterprises on the regional level. The possibility of granting credit guarantees with the help of special guarantee institutions is studied as the main tool |
| Keywords: | economic security, small business, financial support, state guarantees |
| JEL: | R0 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:ch1635&r=sbm |
| By: | Tatyana Bukhtiyarova (Russian Presidential Academy of National Economy and Public Administration, Chelyabinsk branch); Andrey Blinov (Branch of the Russian State University for the Humanities in Domodedovo) |
| Abstract: | Realization of the system of state strategic management of the development of small and medium business in Russia should be conducted in the direction of improving inter-sectoral strategic planning as well as organizational legal, organizational methodological, organizational managerial and institutional communicative backgrounds for realizing state policy of developing and stimulating effective functioning of economic institution – small business in the system of managing effectiveness of social and economic development of Russia The organizational economic mechanism of timber industry complex presupposes including the system of different institutions aimed at increasing effectiveness. Competition resistance of timber industry complex means the ability to use the existing potential during a long period of time, to realize strategic targets of development, providing stable market position |
| Keywords: | state strategic management, institutional environment, feedback links |
| JEL: | O0 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:ch1643&r=sbm |