|
on Economics of Strategic Management |
|
Issue of 2011‒06‒04
ten papers chosen by Joao Jose de Matos Ferreira University of the Beira Interior |
| By: | Andrea Fracasso; Giuseppe Vittucci Marzetti |
| Abstract: | In a much cited paper, Wolfgang Keller (Are international R&D spillovers trade-related? Analyzing spillovers among randomly matched trade partners, European Economic Review, 48, 1469-1481, 1998) claims that international R&D spillovers are global and trade-unrelated. In following works, Keller revisits his position and maintains that spillovers are localized because the tacit nature of knowledge favors the direct interaction among agents. Whether the international R&D spillovers are global and trade-related still remains a debated issue in the empirical literature. By adopting two empirical specifications that nest Keller’s models, we i) reject the hypothesis that international R&D spillovers are global and ii) show that these latter depend on both geographical distance and international trade. |
| Keywords: | International R&D spillovers, International technology diusion, Localized knowledge spillovers, Total Factor Productivity |
| JEL: | C23 F01 O30 O47 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:trn:utwpol:1102&r=cse |
| By: | Andrea Fracasso; Giuseppe Vittucci Marzetti |
| Abstract: | Following Coe and Helpman (International R&D Spillovers, EER, 39, 859-887, 1995), the literature on the trade-related channels of international knowledge flows has flourished. Departing from Coe and Helpman's tenets on the proportionality of trade and productivity spillovers and thus relaxing the implicit assumption that the knowledge transferred internationally is physically embodied in the exchanged products, we test whether relatively strong bilateral trade relationships are significantly associated with important international R&D spillovers. Notably, we focus on refined measures of bilateral trade that account for country size, time-invariant pair-specific factors and time-varying country-specific factors. By distinguishing closer and more distant trade partners without weighting their R&D stocks for the bilateral trade flows, we show that trade is indeed an international transmission channel of knowledge even when distance and other pair specific time-invariant factors are taken into account. |
| Keywords: | International R&D spillovers, Total Factor Productivity, International trade network |
| JEL: | C23 F01 O30 O47 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:trn:utwpol:1103&r=cse |
| By: | Nune Hovhannisyan; Wolfgang Keller |
| Abstract: | While it is well known that managers prefer in-person meetings for negotiating deals and selling their products, face-to-face communication may be particularly important for the transfer of technology because technology is best explained and demonstrated in person. This paper studies the role of short-term cross-border labor movements for innovation by estimating the recent impact of U.S. business travel to foreign countries on their patenting rates. Business travel is shown to have a significant effect up and beyond technology transfer through the channels of international trade and foreign direct investment. On average, a 10% increase in business travel leads to an increase in patenting by about 0.3%. We show that the technological knowledge of each business traveler matters by estimating a higher impact for travelers that originate in U.S. states with substantial innovation, such as California. Moreover, the business traveler effect on innovation also varies across industries. This study provides initial evidence that international air travel may be an important channel through which cross-country income differences can be reduced. We also discuss a number of policy issues in the context of short-term cross-border labor movements. |
| JEL: | F20 J61 O33 |
| Date: | 2011–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17100&r=cse |
| By: | Kathrin Armbruster (University of Basel) |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:bsl:wpaper:2011/04&r=cse |
| By: | Criveanu, Maria; Iacob, Constanta |
| Abstract: | The emergence and development of small and medium enterprises has been and continues to be a driving force for the remarkable economic progress, influencing and accelerating economic growth through more efficient use of resources. Characterized by flexibility, mobility, innovation and capacity to adapt, SMEs have continued to play an important role in economic and social life of any country, positioning itself in the steadily growing economy. Preserving and bracing the role of SMEs in the harmonious development of economy in general and especially to the Romanian economy can be achieved through management control. Management control should intercede in the process of taking decisions and influence the optimal operation of small and medium enterprises. It seeks to control the ability of management to create added value and influence stakeholders in applying the practice of concrete actions to reduce operating costs. During the current businesses period, the companies are operating in an unstable environment which is unpredictable in time and space and distorting the information. At the same time, it is considered that the main engine for creating jobs in Europe and to preserve and revive the economy, is represented by small and medium enterprises. |
| Keywords: | management control; creativity; SME |
| JEL: | M41 M21 |
| Date: | 2011–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:31159&r=cse |
| By: | Halkos, George; Tzeremes, Nickolaos |
| Abstract: | This paper analyses how European football clubs’ current value and debt levels influence their performance. The Simar and Wilson (J Econometrics, 136: 31–64, 2007) procedure is used to bootstrap the data envelopment analysis DEA scores in order to establish the influence of football clubs’ current value and debt levels on their obtained efficiency performances. The results reveal that football clubs’ current value levels have a negative influence on their performances, indicating that football clubs’ high value doesn’t ensure higher performance. At the same time, the empirical evidence suggests that there is no influence associated of football clubs’ debt to their efficiency levels. |
| Keywords: | European football clubs; Data Envelopment Analysis; Truncated regression; Bootstrapping |
| JEL: | C69 C14 L83 |
| Date: | 2011–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:31173&r=cse |
| By: | INOUE Hiroyasu; TAMADA Schumpeter |
| Abstract: | Many firms these days, forced by increasing international competition and an unstable economy, are opting to specialize rather than generalize as a way of maintaining their competitiveness. Consequently, firms cannot rely solely on themselves, but must cooperate by combining their advantages.<br /><br />To obtain the actual conditions for this cooperation, a multi-layered network based on two different types of data was investigated. The first type was transaction data from Japanese firms. The network created from the data included 961,363 firms and 7,808,760 links. The second type of data was from joint-patent applications in Japan. The joint-patent application network included 54,197 nodes and 154,205 links. These two networks were merged into one network. We analyzed the data from the viewpoint of input-output tables, the ERG model, and Bayesian networks. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:11024&r=cse |
| By: | INUI Tomohiko; KIM Young Gak; KWON Hyeog Ug; FUKAO Kyoji |
| Abstract: | Using unique Japanese firm-level data for the <i>Financial Statements Statistics of Corporations by Industry</i> for 1982-2007, we observed TFP trends in both the manufacturing and non-manufacturing industries. Our results can be summarized as follows. First, TFP growth in the non-manufacturing industry was lower than that of the manufacturing industry. Second, there was productivity dispersion and it persists in both the manufacturing and non-manufacturing industries. Third, our results, which are based on productivity dynamics, show that the acceleration of TFP growth rate mainly occurred in the manufacturing industry. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:11042&r=cse |
| By: | YOSHINO Naoyuki |
| Abstract: | This paper comprises three sections. First, it examines whether or not and how banks use non-quantitative data on borrowers, such as the management skills and personality of owners of small and medium-sized enterprises (SMEs), when making lending decisions. Second, it explores the possibility of utilizing data collected from SMEs to assess the risk of their default. Third, it proposes a way to provide money to start-up companies and riskier businesses in the region.<br /><br />The first chapter is based on data collected through an interview survey conducted by Professor Tadanori Nemoto (Chuo University), Wako Watanabe (Keio University), and Yoshiaki Ogura (Ritsumeikan University). They found that qualitative data are used more often at the branch office level than at the headquarters level in making lending decisions. This shows that those working at headquarters prefer to use solid data when making their lending decisions whereas intuition and the borrowers' behavior play a large part in the decision process by those working at branches.<br /><br />In future research, an empirical analysis will be required to determine whether qualitative data are in fact sometimes important for SME lending and whether quantitative data are important even in the case of SMEs.<br /><br />The second chapter reviews the Credit Risk Database (CRD), a database of financial and non-financial information on Japanese SMEs. The chapter explains the mechanism of how SME data collected by prefectural and municipal credit guarantee corporations are integrated into the database. It also points to the importance of ensuring the independence of the database, which can be achieved by allowing the CRD Association (the administrator of the database) to secure revenue sources by offering consultation services to banks, such as the computation of default probabilities, for example.<br /><br />The establishment of a similar database of SME information in other parts of Asia would put Japanese SMEs and Japanese banks in a better position in launching and expanding operations in the region. Such a database would also help lower the default risks for SME lending in Asian countries. In this regard, cases related to Thailand and Indonesian are briefly discussed.<br /><br />The third chapter discusses ways of channeling more funds to start-ups and other relatively high-risk businesses. As the venture capital market in Japan is still not well developed, it is necessary to explore different channels to supply funds to SMEs and start-ups. This paper proposes the creation of regional investment and trust funds, which would be sold to the general public through regional banks and post offices. The funds are not on banks' balance sheets as they are not collected from depositors and any losses incurred by the funds are to be borne by investors. This is to say that banks and post offices are simply serving as sales agents. A few specific examples of such investment and trust funds are presented. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:11028&r=cse |
| By: | Jorge Tovar; Luis Roberto Martínez |
| Abstract: | There is abundant empirical evidence testing models where comparative advantage arises from firm heterogeneity. As of today it is relatively clear who exports and why a firm decides to export. But, what determines the survival of a firm in the export market? This paper exploits a detailed developing economy monthly firm-level dataset for the period 2001 – 2008 in order to explore the importance of trade networks and product and market diversification on the survival of exporting firms. We find that market diversification prevails over product diversification while trade network effects, measured in various ways, are highly correlated to the survival of new exporting firms. From a policy perspective our findings suggest that government aid in the exporting process should focus on expanding into new markets, not on promoting new export products. |
| Date: | 2011–03–06 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:008733&r=cse |