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on Economics of Strategic Management |
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Issue of 2010‒05‒02
nineteen papers chosen by Joao Jose de Matos Ferreira University of the Beira Interior |
| By: | José García-Quevedo (University of Barcelona & IEB); Francisco Mas-Verdú (Universidad Politécnica de Valencia & IEB); Jose Polo-Otero (University of Barcelona & CYD Foundation & IEB) |
| Abstract: | PhD graduates hold the highest education degree, are trained to conduct research and can be considered a key element in the creation, commercialization and diffusion of innovations. The impact of PhDs on innovation and economic development takes place through several channels such as the accumulation of scientific capital stock, the enhancement of technology transfers and the promotion of cooperation relationships in innovation processes. Although the placement of PhDs in industry provides a very important mechanism for transmitting knowledge from universities to firms, information about the characteristics of the firms that employ PhDs is very scarce. The goal of this paper is to improve understanding of the determinants of the demand for PhDs in the private sector. Three main potential determinants of the demand for PhDs are considered: cooperation between firms and universities, R&D activities of firms and several characteristics of firms, size, sector, productivity and age. The results from the econometric analysis show that cooperation between firms and universities encourages firms to recruit PhDs and point to the existence of accumulative effects in the hiring of PhD graduates. |
| Keywords: | PhD, university, R&D, technology transfer |
| JEL: | O32 J24 I23 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ieb:wpaper:2010/4/doc2010-13&r=cse |
| By: | Ramadani, Veland; Gerguri, Shqipe |
| Abstract: | Competition between companies differentiates a lot nowadays compared to many years before. They compete in "nicety" that are so small but so important. Companies are trying to achieve competitive advantage in order to help them obtain a better and a stable position in the marketplace. The best way for companies to achieve a competitive advantage is through innovation. This paper addresses the meaning of innovation what does innovation present, types of innovation specifically discussing the right way of usage. In order for companies to get the as more innovations as possible it is necessary for them to be familiar with the process of innovation and its principles which innovation was found on. There are several types of innovation or ways in which companies can achieve innovation in a level of whole organization. This paper discusses the ways how that can be achieved, starting from their products and services, ways of selling, supply ect. Innovation is essential for sustainable growth and economic development. Several core conditions enable innovation and encourage economic growth. In the modern economy, innovation is crucial for value creation, growth and employment and innovation processes take place at the enterprise, regional and national level. Innovation will lead to new businesses as well as to the increased competitiveness of existing enterprises. In this paper are not covered all the characteristics of innovation but it presents a very good basis for a proper usage of innovation and ways of transforming it in competitive advantage for companies. Also this paper identifies the impact that innovation has on economic growth. |
| Keywords: | innovation; types of innovation; principles and strategies of innovation; sources of innovation |
| JEL: | A22 A10 |
| Date: | 2010–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:22267&r=cse |
| By: | Gerguri, Shqipe; Ramadani, Veland |
| Abstract: | Competition between companies differentiates a lot nowadays compared to many years before. They compete in "nicety" that are so small but so important. Companies are trying to achieve competitive advantage in order to help them obtain a better and a stable position in the marketplace. The best way for companies to achieve a competitive advantage is through innovation. This paper addresses the meaning of innovation what does innovation present, types of innovation specifically discussing the right way of usage. In order for companies to get the as more innovations as possible it is necessary for them to be familiar with the process of innovation and its principles which innovation was found on. There are several types of innovation or ways in which companies can achieve innovation in a level of whole organization. This paper discusses the ways how that can be achieved, starting from their products and services, ways of selling, supply ect. Innovation is essential for sustainable growth and economic development. Several core conditions enable innovation and encourage economic growth. In the modern economy, innovation is crucial for value creation, growth and employment and innovation processes take place at the enterprise, regional and national level. Innovation will lead to new businesses as well as to the increased competitiveness of existing enterprises. In this paper are not covered all the characteristics of innovation but it presents a very good basis for a proper usage of innovation and ways of transforming it in competitive advantage for companies. Also this paper identifies the impact that innovation has on economic growth. |
| Keywords: | innovation; competition; economic growth |
| JEL: | A23 A10 |
| Date: | 2010–05–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:22270&r=cse |
| By: | Radut, Carmen |
| Abstract: | European countries more than 95% of the companies are small and medium enterprises (SMEs), and most employees working in these companies. To run smart business to be competitive, enterprises must enhance the quality and technological level of products and services, new products have either permanently or to upgrade old products to make them competitive, adopting a better pricing policy. Therefore the first step is to gather a larger amount of data, information and knowledge from as many sources and then every level of business knowledge will be transferred. This study is based on the analysis of knowledge and knowledge management (KM) KM and propose a scenario to support the application of knowledge (KApps), developed by SMEs. In addition, the study shows how the knowledge base can be built at the company. |
| Keywords: | knowledge management; knowledge bases; knowledge process; knowledge applicatio; datawarehose; On-Line Analytical Processing |
| JEL: | M19 C81 D80 G30 M21 |
| Date: | 2010–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:21006&r=cse |
| By: | Priit Vahter |
| Abstract: | Does FDI affect innovation, productivity growth, and knowledge sourcing activities of domestic firms? This study employs detailed firm-level panel-data from Estonia’s manufacturing sector to investigate different channels through which FDI can affect domestic firms. Instrumental variables approach is used to identify the effects. There is no evidence of an effect of FDI entry on local incumbents’ TFP and labour productivity growth in the short term.. However, there are positive spillovers on process innovation. These effects do not depend on the local firms’ distance to the productivity frontier. The results show significant positive correlation between the entry of FDI in a sector and the more direct measures of spillovers in subsequent periods. This is consistent with the view that FDI inflow to a sector intensifies knowledge flows to domestic firms. |
| Keywords: | foreign direct investment, productivity, innovation, learning |
| JEL: | F21 F23 O31 O33 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:mtk:febawb:69&r=cse |
| By: | Jesus Cambra-Fierro (Department of Business Administration, Universidad Pablo de Olavide); Ana Fuster-Mur (Grupo Fuster-Mur); Susan Hart (Department of Marketing, University of Strathclyde); Yolanda Polo-Redondo (Department of Bsiness Administration, University of Zaragoza) |
| Abstract: | Despite 20 years of research into various aspects of the ‘Market Orientation’ (MO) construct, dubiety persists regarding the existence, nature and significancy of the relationship between market orientation and firm performance. In order to get more evidence some authors suggest including innovation in MO models. Debate also continues to examine whether organizational strategy is an antecedent or a consequence of MO, whilst some argue that strategy moderates the MO-performance relationship. Furthermore, there are sectors of industry and geographies where the phenomenon has received very little investigation, even of an exploratory nature. This study aims to explore the MO-performance relationship and to value the effect of innovation in MO-performance models in a sector where MO was virtually unknown: the Spanish real estate industry. The magnitude of the shifts taking place in this sector enhances its potential as a showcase for processes of anticipation and adaptation to the environment. In addition, the paper aims to shed some light on the question of whether strategy potentially moderates the MO-performance link. Finally, the principal implications of our findings are discussed. |
| Keywords: | Market orientation, innovation, performance, strategy, real estate sector |
| Date: | 2010–04 |
| URL: | http://d.repec.org/n?u=RePEc:pab:wpbsad:10.03&r=cse |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Johansson, Dan (The Ratio Institute) |
| Abstract: | This essay argues that the economic contribution of certain firms – be they small, young or rapidly growing – has to be understood in a broader context of creative destruction. Growth of some firms requires contraction and exit of some other firms to free up resources that can be reallocated to expanding firms. Entry and expansion are flip sides to exit and contraction and the process through which the factors of production are put into different use defines structural transformation. We analyze institutions and policies conducive to structural transformation, in particular the expansion of high-growth firms (HGFs), since they have empirically been shown to contribute disproportionately to economic development. Firm growth is viewed as resulting from the continuous discovery and use of productive knowledge. Rapid firm growth requires a set of economic actors with complementary competencies that work together to identify and commercialize novel business ideas. The institutional framework determines the incentives for these individuals to acquire and utilize knowledge. We identify a number of institutions that encourage the creation of HGFs and promote structural transformation. In particular, our analysis points to the key roles played by tax structures, labor market regulation, and the contestability of service markets. Even in advanced economies, there is a large untapped economic potential which can be unleashed by institutional changes, such as the opening up of closed markets for entrepreneurial competition. However, there is no “quick-fix” that will boost the frequency of HGFs and structural transformation. Our analysis suggests that policymakers need to adopt a broad approach and implement a wide array of complementary institutional reforms to increase the prevalence of HGFs and to facilitate structural transformation. |
| Keywords: | Entrepreneurship; Firm growth; Gazelles; High-growth firms; High-impact firms; Institutions; Job creation; Rapidly growing firms |
| JEL: | D21 L25 M13 O10 O40 |
| Date: | 2010–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0150&r=cse |
| By: | James B. Ang; Jakob B. Madsen |
| Abstract: | Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth theory but only limited support to semi-endogenous growth theory. Furthermore, it is shown that R&D has played a key role for growth in the Asian miracle economies. |
| JEL: | O30 O40 |
| Date: | 2010–02 |
| URL: | http://d.repec.org/n?u=RePEc:acb:camaaa:2010-05&r=cse |
| By: | Óscar Afonso (Universidade do Porto); Sara Monteiro (Nice Sophia Antipolis University, Faculty of Law, Political Science, Economics and Management); Maria João Ribeiro Thompson (Universidade do Minho) |
| Abstract: | We propose a theoretical growth model with which to frame analytically the Quadruple Helix Innovation Theory (QHIT). The aim is to emphasise the investment in innovation transmission mechanisms in terms of economic growth and productivity gains, in one-high-technology sector, by stressing the role played by the helices of the Quadruple Helix Innovation Model: Academiaand Technological Infrastructures, Firms of Innovation, Government and Civil Society. In the existing literature, the relationship between the helices and respective impacts on economic growth does not appear clear. Results are fragiledue to data weakness and the inexistence of a theoretical framework to specify the relationship between the helices. Hence our motivation for providing the QHIT with a theoretical growth model. Our intent is to model the importance of emerging, dynamically adaptive, and transdisciplinary knowledge and innovation ecosystems to economic growth. We .nd that higher economic growth rate is obtained as a result of an increase in synergies and complementarities between different productive units, or an incease in productive government expenditure. |
| Keywords: | Economic Growth; Quadruple Helix Innovation Model; Innovation Ecosystems. |
| JEL: | O10 O18 O31 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:nip:nipewp:12/2010&r=cse |
| By: | Pedro Pita Barros (Department of the Universidade Nova de Lisboa (Portugal)); Isabel Medalho Pereira (Human Development Report Office (UNDP)) |
| Abstract: | This paper studies the performance of immigrants relative to natives, in terms of their health status, use of health care services, lifestyles, and coverage of health expenditures. We base the analysis on international evidence that identified a healthy immigrant effect, complemented by empirical research on the Portuguese National Health Survey. Furthermore, we assess whether differences in health performance depend on the personal characteristics of the individuals or can be directly associated with their migration experience. |
| Keywords: | Migration, health status, health care, healthy immigrant effect, Portugal |
| JEL: | O1 O15 C3 C33 F22 |
| Date: | 2009–07 |
| URL: | http://d.repec.org/n?u=RePEc:hdr:papers:hdrp-2009-28&r=cse |
| By: | Katalin Erdõs (Department of Economics and Regional Studies, University of Pécs); Attila Varga (Department of Economics and Regional Studies, University of Pécs) |
| Abstract: | Knowledge flows from universities to the regional economy can take different forms ranging from formal research collaborations to consultancy and informal personal connections. One of the knowledge communication channels drawing substantial interest of both researchers and regional policy makers is academic spin-off firm formation. According to the concept of the “academic entrepreneur” (Etzkowitz) university spin-off firm formation has grown naturally from the academic culture of the US where professors traditionally behave very much like entrepreneurs while setting up and maintaining research labs, hiring research assistants, “marketing” research results in conferences and publications or networking with colleagues and funding agencies. Spinning off a company is just a step forward from such entrepreneurial tasks of academics. Thus according to this concept academic motivations are main drivers in university spin-off firm formation in the US. Despite this challenging view the empirical literature pays relatively little attention to the particular “academic” features of university spin-offs and rarely considers the specificities of university entrepreneurship most notably the role of scientists as entrepreneurs. Empirical evidence suggests that Europe performs less successfully than the US in transferring knowledge from university labs to the regional economy via spin-off companies. One potential reason behind this difference is that institutions that determine the continental European research system hold back the emergence of academic entrepreneurs. Thus it is the main research question in our paper whether those specific “academic” drivers behind university spin-off firm formation are present at all in the continental European context. The related question is whether professional characteristics of the academics, their social capital, the norms of academia and the academic and business environment support or hinder these academic motivations? This paper is based on interviews carried out with university researchers who actively participate in firm formation in Hungary. Hungary is an excellent European case since the features of its university system are rooted in the continental (mainly German) tradition, but it also inherits some characteristics from the even more centralized socialist (soviet) tradition. |
| Keywords: | University, spin-off, academic entrepreneurship, regional university technology transfer |
| JEL: | I23 O18 O33 R11 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:pec:wpaper:2009/7&r=cse |
| By: | Eric BROUILLAT (GREThA UMR CNRS 5113); Yannick LUNG (GREThA UMR CNRS 5113) |
| Abstract: | The paper identifies 5 stylized facts to characterize the geographic distribution of innovative activities in France (mainly its high concentration in the region Ile-de-France). It proposes an original model of regional growth in a knowledge-based economy considering the density of RD activities and the connectivity to the other regions. The model is computed and run into 2 different configurations: equidistribution and overconcentration. The simulations’ results lead to the conclusion that the equidistribution configuration is Pareto-efficient (higher growth rate of the national economy, lower income spatial inequalities) compared to the overconcentration. Policy implications are discussed in conclusion. |
| Keywords: | France; Geography of innovation; Knowledge spillover; Regional growth; Simulation |
| JEL: | O33 R11 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:grt:wpegrt:2010-11&r=cse |
| By: | Eisfeldt, Andrea; Kuhnen, Camelia M. |
| Abstract: | There is considerable and widespread concern about whether CEOs are appropriately punished for poor performance. The empirical literature on CEO turnover documents that CEOs are indeed more likely to be forced out if their performance is poor relative to the industry average. However, CEOs are also more likely to be replaced if the industry is doing badly. We show that these empirical patterns are natural and efficient outcomes of a competitive assignment model in which CEOs and firms form matches based on multiple characteristics, and where industry conditions affect the outside options of both managers and firms. Our model also has several new predictions about the type of replacement manager, and their pay and performance. We construct a dataset which describes all turnover events during the period 1992-2006 and show that these predictions are also born out empirically. |
| Keywords: | Executive Turnover; Matching Models; Competitive Assignment; CEO Labor Market |
| JEL: | J41 J63 J31 J44 M51 G30 |
| Date: | 2010–04–23 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:22367&r=cse |
| By: | Erzo G.J. Luttmer |
| Abstract: | Although employment at individual firms tends to be highly non-stationary, the employment size distribution of all firms in the United States appears to be stationary. It closely resembles a Pareto distribution. There is a lot of entry and exit, mostly of small firms. This paper surveys general equilibrium models that can be used to interpret these facts and explores the role of innovation by new and incumbent firms in determining aggregate growth. The existence of a balanced growth path with a stationary employment size distribution depends crucially on assumptions made about the cost of entry. Some type of labor must be an essential input in setting up new firms. |
| Keywords: | Productivity |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedmwp:678&r=cse |
| By: | Dominique Peters |
| Abstract: | Newly industrialized countries and transition economies are often perceived as a threat to Western countries in public discussion, and concerns about economic 'competitiveness' arise. The present paper focuses on the specific macro-economic term 'price competitiveness'. It analyzes the underlying assumptions of the term, explains how the 'price competitiveness' indicator is composed, and what the restrictions are when applying it to transition economies. When calculating the 'price competitiveness' indicator for Central and Eastern European New Member States of the European Union in the last decade, all ten countries show values that are conventionally understood as a steady 'loss in price competitiveness'. Still, this has not led to lower export growth in the last decade in these countries. Instead, all ten assessed countries show above-average growth in Exports, in Manufacturing goods, and in Gross Domestic Product, compared to the rest of the world. The 'price competitiveness' indicator fails, due to inherent assumptions and technical implications, to explain the Export development in economies that are fastgrowing and going through a process of industrialization - so called 'catch-up economie' - what has been the case in the Central and Eastern European countries in the last decade. The 'price competitiveness' indicator should thus not be applied irrespectively of a country's economic situation. |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:imk:studie:01-2010&r=cse |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Sanandaji, Tino (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Previous research, notably Baumol (1990), has highlighted the role of insti-tutions in channeling entrepreneurial supply into productive, unproductive or destructive activities. However, entrepreneurship is not only influenced by institutions—entrepreneurs often help shape institutions themselves. The bilateral causal relation between entrepreneurs and institutions is examined in this paper. Entrepreneurs affect institutions in at least three ways. Entrepreneurship abiding by existing institutions is occasionally disruptive enough to challenge the foundations of prevailing institutions. Entrepreneurs sometimes have the opportunity to evade institutions, which tends to undermine the effectiveness of the institutions, or cause institutions to change for the better. Lastly, entrepreneurs can directly alter institutions through innovative political entrepreneurship. As business entrepreneurship, innovative political activity may be productive or unproductive, depending on the incentives facing entrepreneurs. |
| Keywords: | Entrepreneurship; Innovation; Institutions; Regulation; Self-employment |
| JEL: | L50 M13 O31 P14 |
| Date: | 2010–04–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:0830&r=cse |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Johansson, Dan (The Ratio Institute); Stenkula, Mikael (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key actors who use their competencies in what we denote a competence bloc. Although variations in economic contexts make prescribing a general panacea impossible, a number of relevant policy areas that affect key actors can be identified. In this paper this is done in the areas of tax policy and labor market policy. It is shown that high and/or distortive taxes and heavy labor market regulations impinge on the creation and functioning of competence blocs, thereby reducing high-impact entrepreneurship. |
| Keywords: | Entrepreneurship; Gazelles; High-growth firms; High-impact entrepreneurship Innovation; Institutions; Labor market policy; Tax policy |
| JEL: | H32 L25 L50 M13 O31 P14 |
| Date: | 2010–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0149&r=cse |
| By: | Bernardo Campos Serra (CELTA - Centro Empresarial para Laboração de Tecnologias Avançadas); Fernando Ribeiro Serra (Universidade do Sul de Santa Catarina); Manuel Portugal Ferreira (globADVANTAGE ? Center of Research on International Business & Strategy, Instituto Politécnico de Leiria); Gabriela Gonçalves Fiates (Universidade do Sul de Santa Catarina) |
| Abstract: | As incubadoras de empresas têm sido apontadas como atores importantes para o desenvolvimento de empresas e até de regiões. As incubadoras são criadas para facilitar o empreendedorismo, provendo condições mais favoráveis às empresas nascentes, até que possam graduar-se. Um dos benefícios apontados às incubadoras é a provisão de uma maior e qualificada interação social, de onde podem emergir possíveis colaborações. Neste artigo examinamos a importância das incubadoras como nó de rede de relacionamento das empresas incubadas, a partir da proposta original de Soetanto e Van Geenhuizen (2007). O argumento é que se as incubadoras cumprem este papel de facilitar a integração em redes relacionais, o seu desempenho será diferenciado. Trata-se de um estudo quantitativo, numa amostra de 37 incubadoras de base tecnológica, com o uso do método de rough set, a partir dos dados coletados no SAPI - Sistema de Acompanhamento de Parques Tecnológicos e Incubadoras de Empresas, fruto do Programa Nacional de Apoio a Incubadoras de Empresas e Parques Tecnológicos (PNI). Os resultados revelam que as incubadoras localizadas em áreas metropolitanas, tipicamente com maior acesso a recursos de conhecimento e a recursos tangíveis, influenciam positivamente a relação de empresas candidatas e das vagas para incubação. Também apresentamos resultados que indicam que incubadoras que fornecem serviços agregados além da tradicional disponibilização de infra-estrutura atraem mais empresas candidatas. Concluímos com uma discussão alargada e que há necessidade de melhor entender o efeito das redes relacionais geradas durante a incubação e a efetividade da incubadora. |
| Keywords: | Incubadoras; Inovação; Redes de relacionamento |
| JEL: | M0 M1 |
| Date: | 2010–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:pil:wpaper:63&r=cse |
| By: | Hengyun Ma; Les Oxley (University of Canterbury) |
| Abstract: | Employing the new regression tests for Convergence, Club Convergence and Clustering proposed by Phillips and Sul (2007), this paper models and analyzes the behavior of China‘s energy sectors. Energy market =convergence clusters‘ are identified using new price data and their regional spatial distributions are mapped for four major fuel types; coal, gasoline, diesel and electricity. It is found that: i) as yet, there are no fully integrated national energy markets in China as more than one convergence cluster is identified for all four fuels; ii) some regional energy markets can be regarded as =quite mature‘ as evidenced by the existence of some highly concentrated convergence clusters connected geographically; iii) some regional markets remain in a =state of transition‘ as witnessed by convergence clusters that are scattered geographically and growing in membership; vi) it seems that there is more regional-based integration for coal and electricity than for gasoline and diesel as more convergent clusters were identified for coal and electricity than for gasoline and diesel v) Overall, China still appears to be in the process of energy market integration as demonstrated by the number and evolution of convergence clusters over time. |
| Keywords: | China; Energy market; Convergence cluster |
| JEL: | C33 L83 O10 O40 O57 |
| Date: | 2010–04–20 |
| URL: | http://d.repec.org/n?u=RePEc:cbt:econwp:10/14&r=cse |