nep-cse New Economics Papers
on Economics of Strategic Management
Issue of 2014‒05‒17
thirty-one papers chosen by
Joao Jose de Matos Ferreira
University of the Beira Interior

  1. Collaboration in innovation between foreign subsidiaries and local universities: evidence from Spain By Guimón, José; Salazar, Juan Carlos
  2. The Path of R&D Efficiency over Time By Pilar Beneito; María Engracia Rochina-Barrachina; Amparo Sanchis
  3. Entrepreneurship and Innovation: Evidence from SMEs in Prishtina region, Kosovo By Govori, Arbiana
  4. Access to universities’ public knowledge: Who’s more regionalist? By Acosta,Manuel; Azagra-Caro,Joaquín M.; Coronado,Daniel
  5. Knowledge Spillovers from Renewable energy Technologies, Lessons from patent citations By Joelle Noailly; Victoria Shestalova
  6. How Does Agglomeration Promote the Product Innovation of Chinese Firms? By ZHANG Hong-yong
  7. Relaţia cercetare-dezvoltare-inovare şi impactul asupra competitivităţii economice în România în contextul globalizării şi integrării europene By Zaman, Gheorghe; Georgescu, George
  8. Technology and costs in international competitiveness: from countries and sectors to firms By G. Dosi; M. Grazzi; D. Moschella
  9. Clustering, competition, and spillover effects: Evidence from Cambodia By Chhair, Sokty; Newman, Carol
  10. Human Resource Management: how much do firms really need? By Dr Alex Bryson
  11. Innovation in the Service Sector and the Role of Patents and Trade Secrets (Japanese) By MORIKAWA Masayuki
  12. ICT as a general purpose technology: spillovers, absorptive capacity and productivity performance By Francesco Venturini; Ana Rincon-Aznar; Dr Michela Vecchi
  14. Forward Markets to Spur Innovation By Linda Cohen; Amihai Glazer
  15. Innovation and Productivity in Services:Evidence from Germany, Ireland and the United Kingdom By Peters, Bettina; Riley, Rebecca; Siedschlag, Iulia; Vahter, Priit; McQuinn, John
  16. Disentangling the pattern of geographic concentration in Tunisian manufacturing industries By Ayadi, Mohamed; Mattoussi, Wided
  17. Innovation capabilities for sustainable development in Africa By Lee, Keun; Juma, Calestous; Mathews, John
  18. R&D Policy and Schumpeterian Growth: Theory and Evidence By A. Minniti; F. Venturini
  19. Local Competitiveness fostered through Local Institutions for Entrepreneurship By Andersson, Martin; Henrekson, Magnus
  20. Delivering ICT Shared Services to Local Governments:A new species of public enterprise? By Maddalena SORRENTINO; Massimo SIMONETTA Author-X-Name-First: Massimo
  21. Productivity-enhancing manufacturing clusters: Evidence from Vietnam By Howard, Emma; Newman, Carol; Rand, John; Tarp, Finn
  22. Regional Unemployment Structure and New Firm Formation By David B. Audretsch; Dirk Christian Dohse; Annekatrin Niebuhr
  23. Human capital, firm capabilities and productivity growth By Ilke Van Beveren; Stijn Vanormelingen
  24. On the Mechanism of International Technology Diffusion for Energy Productivity Growth By Wei Jin; ZhongXiang Zhang
  25. Entry to Foreign Markets and Productivity: Evidence from a Matched Sample of Turkish Manufacturing Firms By Basak Dalgic; Burcu Fazlioglu; Deniz Karaoglan
  26. Are Large Headquarters Unproductive? Evidence from a Panel of Japanese Companies (Japanese) By MORIKAWA Masayuki
  27. Corporate Governance and the Development of Manufacturing Enterprises in Nineteenth-Century Massachusetts By Eric Hilt
  28. The importance (or not) of patents to UK firms By Professor Bronwyn Hall
  29. Co-operative firms as perceived by external stakeholders: how do consumers perceive organizational tensions? By Axelle Faure-Ferlet; Sonia Capelli; William Sabadie
  30. Meeting technologies and optimal trading mechanisms in competitive search markets By Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald
  31. Eficiencia de los establecimientos bancarios (EB): una aproximación mediante modelos DEA By Javier E. Pirateque; José H. Piñeros; Linda Mondragón

  1. By: Guimón, José (Department of Economic Structure and Development Economics, Universidad Autónoma de Madrid); Salazar, Juan Carlos (Department of Economic Structure and Development Economics, Universidad Autónoma de Madrid)
    Abstract: Collaboration between foreign subsidiaries and universities is relevant for multinational companies that aim at absorbing knowledge from abroad, as well as for policymakers attempting to maximize the spillovers associated with FDI. In this paper, we explore how multinational companies collaborate with universities in the foreign countries where they locate and provide new empirical evidence for Spain as a host country. Using a probit model with panel data from the Community Innovation Survey, we failed to find significant differences between the propensity of foreign subsidiaries and comparable Spanish firms to collaborate with universities. Subsequently, building on a new survey and five case studies, we were able to relate the scale and scope of such collaborations with the dynamic mandates of foreign subsidiaries in global innovation networks and to explore further the variety of motivations that drive collaboration.
    Keywords: collaboration in innovation; FDI; foreign subsidiaries; global innovation networks; multinational companies; open innovation; spillovers; university-industry collaboration
    JEL: F23 O32
    Date: 2014–05–07
  2. By: Pilar Beneito (University of Valencia and ERI-CES); María Engracia Rochina-Barrachina (University of Valencia); Amparo Sanchis (University of Valencia)
    Abstract: In this paper we investigate the pattern of R&D efficiency in terms of the number of product innovations achieved by firms over time. Embodied in the R&D capital stock, we distinguish among physical R&D capital and human R&D capital, and allow the latter to be subject to dynamic returns along firms’ R&D histories. We assume that firms’ innovation outcomes depend on the length of the period of time they have been investing in R&D and explore whether the interruption in this temporal sequence of engagement in R&D affects the rate of achievement of innovation outcomes. For this purpose, we estimate an innovation production function using a panel dataset of Spanish manufacturing firms for the period 1990-2006. Our results suggest that R&D activities exhibit dynamic returns that are increasing but at a decreasing rate, possibly due to exhaustion of innovation opportunities. In addition, our findings indicate that interruptions of R&D activities reduce R&D efficiency, probably due to organizational forgetting. However, spillover effects seem to exist between firms’ R&D spells since firms resuming R&D activities achieve innovation success rates above the innovation rates of their initial years of R&D activities.
    Keywords: R&D, dynamic returns, interruptions, product innovation, count data
    Date: 2014–04
  3. By: Govori, Arbiana
    Abstract: Innovation has become a central theme and challenge in the literature of entrepreneurship, SMEs management, and strategic knowledge management and in the literature of organizational learning. Innovation needs a business environment that is conducive to long-term investments in new business activities. This way, the development of innovation policy in SMEs forms an important environment that needs to be supported by government new economic policies and strategies and especially by new approach to entrepreneurship and innovation. In this paper we address the innovation strategies of SMEs engaged in the production of products and services. We base our conclusions on an analysis of primary data collected in a survey of 80 small and medium sized firms in the region of Prishtina, held between March 2014 and May 2014. The results show that innovation in business tends to be driven by external competitive pressures and customer demands. Many SMEs face financial barriers to engaging and undertaking innovation, while a few of them have been seriously engaged in innovation despite the obstacles.
    Keywords: Entrepreneurship, Innovation, SMEs, Competition, Strategy, Funding
    JEL: M0 M1 M2 O3 O30 O31 O32 O33 O34 O38
    Date: 2014–05–07
  4. By: Acosta,Manuel; Azagra-Caro,Joaquín M.; Coronado,Daniel
    Abstract: This paper tracks university-to-firm patent citations rather than the more usual patent-to-patent or paper-to-patent citations. It explains regional and non-regional citations as a function of firms’ absorptive capacity and universities’ production capacity in the region rather than explaining citations as a function of distance between citing and cited regions. Using a dataset of European Union regions for the years 1997-2007, we find that fostering university R&D capacity increases the attractiveness of the local university’s knowledge base to firms in the region, but also reduces wider searches for university knowledge. Increasing the absorptive capacity of local business encourages firms to access university knowledge from outside the region.
    Keywords: Knowledge flows, patent citations, spillovers, regions
    JEL: O31 O33 R12
    Date: 2014–05–15
  5. By: Joelle Noailly; Victoria Shestalova (The Centre for International Environmental Studies, The Graduate Institute of International and Development Studies, Geneva)
    Abstract: This paper studies the knowledge spillovers generated by renewable energy technologies, unraveling the technological fields that benefit from knowledge developed in storage, solar, wind, marine, hydropower, geothermal, waste and biomass energy technologies. Using citation data of patents in renewable technologies at 17 European countries over the 1978-2006 period, the analysis examines the relative importance of knowledge flows within the same specific technological field (intra-technology spillovers), to other technologies in the field of power-generation (inter-technology spillovers), and to technologies unrelated to power-generation (external-technology spillovers). The results show significant differences across various renewable technologies. While wind technologies mainly find applications within their own technological field, a large share of innovations in solar energy and storage technologies find applications outside the field of power generation, suggesting that solar technologies are more general and, therefore, may have a higher value for society. Finally, the knowledge from waste and biomass technologies is mainly exploited by fossil-fuel power-generating technologies. The paper discusses the implications of these results for the design of R&D policies for renewable energy innovation.
    Keywords: Renewable energy, innovation, patents, knowledge spillovers, technology policy.
    Date: 2013–12–01
  6. By: ZHANG Hong-yong
    Abstract: This study empirically analyzes the effect of agglomeration economies on firm-level product innovation (new products), using Chinese firm-level data from 1998 to 2007. In terms of new product introduction and new product output, Chinese firms benefit from urbanization economies (as measured by the number of workers in other industries in the same city and by the diversity of industries in the same city). Conversely, there were no positive effects of localization economies (as measured by the number of other workers working for neighboring firms in the same industry and in the same city). These results suggest that, in China, urbanization economies play an important role in fostering product innovation by urban size and diversity.
    Date: 2014–05
  7. By: Zaman, Gheorghe; Georgescu, George
    Abstract: The interrelation research-development-innovation has proved crucial for raising the economic competitiveness. The comparative analysis of Romania’competitiveness in the global and European context highlights significant gaps as compared with advanced countries, mainly in R&D intensity, quality of scientific research, innovative entrepreneurship, intellectual assets. Achieving the target of 2% of GDP for R&D spending in 2020 became a challenge for Romania, radical improvements in RDI strategy consistence, growing business sector investments, enforcing innovative capacity, increasing the EU funds absoption rate being needed. The paper is focusing on discrepancies size for the above mentioned indicators as well as the main ways and economic mechanisms of solving the problems and dilemmas which Romania is facing with on different time horizons.
    Keywords: global crisis; research & development; innovation; competitivity
    JEL: I20 O30 O38
    Date: 2013–09
  8. By: G. Dosi; M. Grazzi; D. Moschella
    Abstract: This paper examines the determinants of international competitiveness at the level of sectors and firms. First, we address the relation between cost-related and technological competition in a sample of fifteen OECD countries. Results suggest that the countries' sectoral market shares are indeed mainly shaped by technological factors (proxied by investment intensity and patents) while cost advantages/disadvantages do not seem to play any significant role. Next, we attempt to identify the underlying dynamics at the firm level. We do that for a single country, Italy, using a large panel of Italian firms, over nearly two decades. Results show that also at micro level in most sectors investments and patents correlate positively both with the probability of being an exporter and with the capacity to acquire and to increase export market shares. The evidence on costs is more mixed. A simple measure like total labour compensation is positively correlated with the probability of being an exporter, while unit labour costs show a negative correlation only in some manufacturing sectors.
    JEL: D22 F10 F14 F19 L25 O32
    Date: 2014–05
  9. By: Chhair, Sokty; Newman, Carol
    Abstract: The potential benefits of the geographical clustering of economic activity have been well documented in the literature, yet there is little empirical evidence quantifying these effects in developing country contexts. This is surprising given the emphasis
    Keywords: clustering, productivity spillovers, competition effects, informal firms, Cambodia
    Date: 2014
  10. By: Dr Alex Bryson
    Abstract: Does the introduction of ‘high-performance work systems’ really make a difference to business performance? Using representative data from British workplaces, Michael White and Alex Bryson assess the value of human resource management – and ask whether it is possible for firms to have ‘too little’ or ‘too much.
    Date: 2013–12
  11. By: MORIKAWA Masayuki
    Abstract: This paper, using Japanese firm-level data, presents findings about innovative activities in the service sector and the role of patents and trade secrets on innovations. According to the analysis, first, service firms have less product innovations than do manufacturing firms, but the productivity of innovative service firms is very high. Second, service firms have a low propensity of holding patents, but the holding of trade secrets is comparable to that of the manufacturing firms. Third, patents and trade secrets have positive relationships with product innovations, and the effects are quantitatively similar in magnitude both in the manufacturing and the service sectors. On the other hand, a positive relationship between trade secrets and process innovations is found only in the manufacturing sector. These results suggest a pivotal role of the patent system and trade secret law on innovation and productivity growth of the service sector.
    Date: 2014–04
  12. By: Francesco Venturini; Ana Rincon-Aznar; Dr Michela Vecchi
    Abstract: We analyse the impact of ICT spillovers on productivity using company data for the U.S. We account for inter- and intra-industry spillovers and assess the role played by firm’s absorptive capacity. Our results show that intra-industry ICT spillovers have a contemporaneous negative effect that turns positive 5 years after the initial investment. For inter-industry spillovers both contemporaneous and lagged effects are positive and significant. In the short run, companies’ innovative effort is complementary to ICT spillovers, but such complementarity disappears with the more pervasive adoption and diffusion of the technology.
    Date: 2013–11
  13. By: Antonio Cubel (Universidad de Valencia (Spain)); Vicente Esteve (Universidad de Valencia, Universidad de Alcalá and Universidad de La Laguna (Spain)); M. Teresa Sanchis (Universidad de Valencia and Instituto Figuerola (Spain)); Juan A. Sanchis-Llopis (Universidad de Valencia and ERI-CES (Spain))
    Abstract: This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the 20th century. We perform this analysis for several European countries (France, Germany, the United Kingdom, and Spain) and the U.S., extending Coe and Helpman’s (1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the U.S. in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the level of investment in human capital, the higher the level of investment in domestic innovation, and the higher the response of TFP to a 1% increase in any of the aforementioned variables.
    Date: 2014–05
  14. By: Linda Cohen (Department of Economics, University of California-Irvine); Amihai Glazer (Department of Economics, University of California-Irvine)
    Abstract: This paper presents a mechanism inducing costly research and innovation in the absence of intellectual property rights. The mechanism relies on forward contracting between the provider of the innovation and firms or individuals that benefit from the pecuniary effects of the innovation, rather than from its direct use. Applied to innovation as a non-discrete public good, the mechanism resolves time consistency, agency, and free-riding problems, and provides an incentive for ex post efficient pricing.
    Keywords: Innovation; Public goods; Mechanism design; Patents; Forward contracts
    Date: 2014–04
  15. By: Peters, Bettina; Riley, Rebecca; Siedschlag, Iulia; Vahter, Priit; McQuinn, John
    Abstract: We examine the links between innovation investment, innovation output and productivity in service enterprises. For this purpose, we use micro data from the Community Innovation Surveys 2006-2008 in Germany, Ireland, and the United Kingdom and estimate an augmented structural model which links innovation inputs, innovation outputs and productivity. Our estimates suggest that innovation in service enterprises was linked to higher productivity. In all three countries analysed, amongst the innovation types that we consider, the strongest link between innovation and productivity was found for marketing innovations. Successful innovation in service enterprises appears to be associated with enterprise size, innovation expenditure intensity (in Germany and the United Kingdom), foreign ownership (Ireland), exporting and engagement in co-operation for innovation activities. The determinants of innovation in service enterprises appear remarkably similar to the determinants of innovation in manufacturing enterprises.
    Keywords: Internationalisation of services; innovation; productivity
    Date: 2014–04
  16. By: Ayadi, Mohamed; Mattoussi, Wided
    Abstract: In this paper, we examine the pattern of spatial concentration of manufacturing industries observed in Tunisia and explore the factors driving firms. choices of location at the provincial level. We consider specialization and competition indicators as the
    Keywords: industrial concentration, concentration index, competition index, Tunisia
    Date: 2014
  17. By: Lee, Keun; Juma, Calestous; Mathews, John
    Abstract: A sustainable pathway for Africa in the twenty-first century is laid out in the setting of the development of innovation capabilities and the capture of latecomer advantages. Africa has missed out on these possibilities in the twentieth century while seei
    Keywords: Africa, sustainable development, innovation capabilities, green growth strategy, latecomer advantages
    Date: 2014
  18. By: A. Minniti; F. Venturini
    Abstract: In recent years, a large body of empirical research has investigated whether the predictions of secondgeneration growth models are consistent with actual data. This strand of literature has focused on the longrun properties of these models by using productivity and innovation data but has not directly assessed the effectiveness of R&D policy in promoting innovation and economic growth. In the present paper, we fill this gap in the literature by providing a unified growth setting that is empirically tested with US manufacturing industry data. Our analysis shows that R&D policy has a persistent, if not permanent, impact on the rate of economic growth and that the economy rapidly adjusts to policy changes. The impact of R&D tax credits on economic growth appears to be long lasting and statistically robust. Conversely, more generous R&D subsidies are associated with an increase in the rate of economic growth in the short run only, indicating that, at best, this policy instrument has only temporary effects. Overall, the evidence regarding the effectiveness of R&D policy provides more support for fully endogenous growth theory than for semi-endogenous growth theory.
    JEL: O3 O38 O4
    Date: 2014–05
  19. By: Andersson, Martin (CIRCLE, Lund University); Henrekson, Magnus (Research Institute of Industrial Economics (IFN))
    Abstract: We review and assess the role local institutional framework conditions play in fostering local entrepreneurship. The basic premise is that entrepreneurship is a central driver of economic renewal and change, and that institutions affect both the supply and direction of entrepreneurship. While local institutions always develop and operate against the backdrop of national institutional frameworks, in particular in non-federal states, our review shows that there is plenty of room for local initiatives and policies to influence the entrepreneurial climate locally. This pertains to both formal (e.g., taxes, regulations and stringency of enforcement) and informal (e.g., attitudes and social legitimacy) institutions. We further argue that the local institutional environment is essential in any local policy aimed to foster productive (high-impact) entrepreneurship. Favorable local institutions not only increase the odds that a region develops or manage to attract entrepreneurial incumbents, but also the odds that a region reaps the full potential of hosting entrepreneurial and knowledge-intensive activities.
    Keywords: Business climate; Entrepreneurship; Institutions; Job creation; Local policies; Startups; Regulations; Entrepreneurship culture; High-impact entrepreneurs
    JEL: D22 H70 L26 M13 O43 R38
    Date: 2014–05–07
  20. By: Maddalena SORRENTINO (Università degli Studi di Milano, Dipartimento di Economia, Management e Metodi quantitativi, Italy); Massimo SIMONETTA Author-X-Name-First: Massimo (Ancitel Lombardia, Cologno Monzese (Milano), Italy)
    Abstract: The past decades have seen the OECD countries attempt a number of sourcing practices in local governments, including corporatization, collaborative arrangements and partnerships. One such option is to share services, an emerging strategy that casts a new actor in a leading role, i.e., the shared service organization or ‘SSO’. In the field of Information and Communication Technology (ICT) these special-purpose vehicles deliver services to the sharing councils based on models other than publicly funded collaboration arrangements and the usual ICT outsourcing practices. The paper uses an explorative case study to analyse the SSO route taken by an Italian enterprise, wholly owned by a public utility, in which it steers and guides its client councils on their ICT strategies. The article offers a general reflection on the new SSO’s operating model, discussing its hybrid nature (part-private and part-public), the system of multiple local relations and the indirect influence the SSO has over the ICT decisions of the client councils.
    Keywords: Shared service, Sourcing arrangements, ICT, Public enterprises, Organization studies
    Date: 2013–09
  21. By: Howard, Emma; Newman, Carol; Rand, John; Tarp, Finn
    Abstract: In this paper we explore the extent to which firms experience productivity spillovers from clustering using a rich data source from Vietnam for 2002 to 2007, a period of significant transition. We address issues of simultaneity, self-selection and endogen
    Keywords: clustering, productivity, endogenous location choice, spillovers, Vietnam
    Date: 2014
  22. By: David B. Audretsch; Dirk Christian Dohse; Annekatrin Niebuhr
    Abstract: Does regional unemployment increase or rather decrease entrepreneurial activity? Although this question has been hotly debated among researchers for decades the answers yielded so far are ambiguous and inconclusive. The paper proposes an innovative approach that takes not only interregional differences in unemployment rates, but also in unemployment duration and the human capital of the unemployed—i.e. in the structure of regional unemployment—into account. Both, the skill structure of the unemployed and the share of long-term unemployment are found to have an important impact on regional start-up activity. Moreover, the impact of unemployment structure on new firm formation is found to vary with the knowledge-intensity of the start-ups
    Keywords: regional unemployment, new business formation, skill structure, long-term unemployment
    JEL: M13 R12 J64
    Date: 2014–05
  23. By: Ilke Van Beveren (Lessius Department of Business Studies, KU Leuven); Stijn Vanormelingen (HU Brussels, KU Leuven)
    Abstract: This paper determines the relative importance of technical efficiency and reallocation for aggregate productivity growth in a small open European economy. To this end we use a dataset containing all Belgian firms active in the private sector, both services and manufacturing. We observe at the firm level a number of factors that have been shown to be drivers of productivity differences across firms. More precisely, we have information on human capital such as the level of education and the amount of on-the-job training received by the employees. Moreover we observe the international activities of the firms such as imports and exports. This allows us to make a careful analysis of the micro foundations of aggregate productivity growth by applying the decomposition introduced by Petrin and Levinsohn (2012). The outcome of this exercise will not only provide us with a better understanding of the slowdown of productivity growth in Europe over the past decades, but also give an indication on the role of different productivity drivers in this process.
    Keywords: Productivity, Productivity Decomposition
    JEL: D24 O47 C23
    Date: 2014–05
  24. By: Wei Jin (College of Public Policy and Administration, Zhejiang University); ZhongXiang Zhang (Department of Public Economics School of Economics, Fudan University)
    Abstract: International diffusion of advanced environment and energy-related technologies has received much attention in recent environmental economics studies. As a much needed complement to the “black box” complex numerical modelling, this paper contributes to developing a simple, intuitive analytical framework to unveil the mechanism of international technology diffusion for energy productivity growth. We draw on the Solow growth model to build a benchmark exogenous framework to explore the basic mechanism of energy technology diffusion. This exogenous model is then extended to a Romer-type endogenous one where the R&D-induced expansion of energy technology varieties is used to represent the deep structure of technology diffusion. We show that the growth rates of energy productivity are the same across countries in the balanced growth path equilibrium, but the cross-country differences in the efficiency of foreign technology absorption and indigenous innovation lead to cross-country divergence in the levels of energy productivity. The economy that has a stronger capacity of assimilating foreign technology diffusion and undertaking indigenous innovation tends to gain a higher level of energy productivity.
    Keywords: Technological Innovation, Energy Technology Diffusion, Solow Growth Model, Endogenous Growth Model
    JEL: Q55 Q58 Q43 Q48 O13 O31 O33 O44 F18
    Date: 2014–04
  25. By: Basak Dalgic (Department of Public Finance, Hacettepe University); Burcu Fazlioglu (Department of International Entrepreneurship, TOBB ETU University); Deniz Karaoglan (Department of Economics, METU)
    Abstract: We examine the effects of international trading activities of firms on creating productivity gains in Turkey by using a recent firm level dataset over the period 2003-2010. We establish treatment models and investigate the productivity improvements of firms through trade by using Propensity Score Matching (PSM) techniques along with Difference-in-Difference (DID) estimates. Three different groups of treatment are constructed: (i) firms that involve only in importing activities, (ii) firms that involve only in exporting activities, (iii) firms that involve in both exporting and importing activities. The results of the study suggest that both exporting and importing have positive significant effects on total factor productivity (TFP) and labor productivity (LP) of firms. Importing is found to have a greater impact on productivity of firms compared to exporting. Further, two-way trade is found to have more significant effects than those of one-way trade on firm productivity Finally, our results indicate that international trade has greater impact on LP rather than TFP of firms.
    Keywords: Productivity, Imports, Exports, Propensity Score Matching.
    JEL: F10 D21 D24 C21 C23
    Date: 2014–05
  26. By: MORIKAWA Masayuki
    Abstract: This paper, using large panel data of Japanese companies (2001-2011), empirically analyzes the determinants of the size of headquarters and their effect on productivity. Headquarters functions, the core service sector within companies, play important roles in supporting strategic decision making in modern companies. However, it is often advocated that the downsizing of headquarters improves organizational efficiency. The size of headquarters is closely related to the issue of centralization/decentralization of decision making, and, theoretically, an optimal level of decentralization depends on various conditions. The major results of this study are as follows. First, the mean size of headquarters is stable during the sample period, but the cross-sectional dispersion of the size is very large even within a narrowly-defined industry. Second, company size, diversification of business activities, and the number of establishments are negatively related to the size of headquarters, suggesting that the growth and complication of businesses lead to decentralization of decision making. Third, the information and communications technology (ICT) network inside a company reduces the size of headquarters, although the magnitude of this effect is small. Fourth, headquarters contribute positively to the total factor productivity (TFP) of the companies. Finally, ICT network and headquarters have a complementary role in productivity.
    Date: 2014–05
  27. By: Eric Hilt
    Abstract: This paper analyzes the use of the corporate form among nineteenth-century manufacturing firms in Massachusetts, from newly collected data from 1875. An analysis of incorporation rates across industries reveals that corporations were formed at higher rates among industries in which firm size was larger. But conditional on firm size, the industries in which production was conducted in factories, rather than artisanal shops, saw more frequent use of the corporate form. On average, the ownership of the corporations was quite concentrated, with the directors holding 45 percent of the shares. However, the corporations whose shares were quoted on the Boston Stock Exchange were ‘widely held’ at rates comparable to modern American public companies. The production methods utilized in in different industries also influenced firms’ ownership structures. In many early factories, steam power was combined with unskilled labor, and managers likely performed a complex supervisory role that was critical to the success of the firm. Consistent with the notion that monitoring management was especially important among such firms, corporations in industries that made greater use of steam power and unskilled labor had more concentrated ownership, higher levels of managerial ownership, and smaller boards of directors.
    JEL: D23 K2 N11
    Date: 2014–05
  28. By: Professor Bronwyn Hall
    Abstract: � Abstract A surprisingly small number of innovative firms use the patent system. In the UK, the share of firms patenting among those reporting that they have innovated is about 4%. Survey data from the same firms support the idea that they do not consider patents or other forms of registered IP as important as informal IP for protecting inventions. We show that there are a number of explanations for these findings: most firms are SMEs, many innovations are new to the firm, but not to the market, and many sectors are not patent active. We find evidence pointing to a positive association between patenting and innovative performance measured as turnover due to innovation, but not between patenting and subsequent employment growth. The analysis relies on a new integrated dataset for the UK that combines a range of data sources into a panel at the enterprise level.
    Date: 2013–05
  29. By: Axelle Faure-Ferlet (Centre de Recherche Magellan - Institut d'Administration des Entreprises (IAE) - Lyon - Université Jean Moulin - Lyon III : EA3713); Sonia Capelli (Centre de Recherche Magellan - Institut d'Administration des Entreprises (IAE) - Lyon - Université Jean Moulin - Lyon III : EA3713); William Sabadie (Centre de Recherche Magellan - Institut d'Administration des Entreprises (IAE) - Lyon - Université Jean Moulin - Lyon III : EA3713)
    Abstract: La perception des coopératives par les parties prenantes externes: le regard des consommateurs sur les tensions organisationnelles ?
    Keywords: Responsabilité sociale de l'entreprise, consommation socialement responsable, organisations coopératives
    Date: 2014–04–02
  30. By: Lester, Benjamin (Federal Reserve Bank of Philadelphia); Visschers, Ludo (University of Edinburgh); Wolthoff, Ronald (University of Toronto)
    Abstract: In a market in which sellers compete by posting mechanisms, we allow for a general meeting technology and show that its properties crucially affect the mechanism that sellers select in equilibrium. In general, it is optimal for sellers to post an auction without a reserve price but with a fee, paid by all buyers who meet with the seller. However, we define a novel condition on meeting technologies, which we call invariance, and show that meeting fees are equal to zero if and only if this condition is satisfied. Finally, we discuss how invariance is related to other properties of meeting technologies identified in the literature.
    Keywords: Search frictions; Matching function; Meeting technology; Competing mechanisms;
    JEL: C78 D44 D83
    Date: 2014–04–23
  31. By: Javier E. Pirateque; José H. Piñeros; Linda Mondragón
    Abstract: Este documento analiza la eficiencia (técnica, de escala, de costos y asignativa) del sistema bancario colombiano entre 2000-2012, utilizando la metodología DEA (Data Envelopment Analysis). Ésta se basa en funciones de producción individuales de las entidades que componen el sistema, contraria a los métodos paramétricos. Dicha metodología tuvo en cuenta el enfoque de producción, el cual permite incorporar diversos tipos de productos y servicios financieros de carácter heterogéneo, convirtiéndose en un enfoque alternativo al presentado en otros trabajos en Colombia. Los resultados de la eficiencia, después de la crisis financiera de finales de los noventa, mostraban sus más bajos niveles del período analizado; luego, para los años siguientes se observó una mejora sistemática que se acentuó entre 2006 y 2008. Posteriormente, la eficiencia fue alterada por cambios en la dinámica de la producción de la industria bancaria, en donde variables externas pudieron haberla afectado. También se encontró que las entidades nacionales fueron más eficientes que las extranjeras durante el período de estudio. Cuando se agrupan por tamaño, no se halló evidencia clara de que las entidades grandes hayan tenido un mayor nivel de eficiencia que el de las pequeñas. Finalmente, se demostró que los determinantes de la eficiencia no solo están relacionados con la gestión de intermediación propia de cada banco, sino también con variables ambientales que trascienden la gestión individual.
    Keywords: Eficiencia técnica y asignativa, economías de escala, frontera, modelos paramétricos y no paramétricos.
    JEL: C61 C67 D24 D61 G21 L25
    Date: 2013–12–20

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