nep-cse New Economics Papers
on Economics of Strategic Management
Issue of 2014‒11‒12
twenty-one papers chosen by
João José de Matos Ferreira
Universidade da Beira Interior

  1. Research among Copycats: R&D, Spillovers, and Feedback Strategies By Grega Smrkolj; Florian Wagener
  2. Exploring and yet failing less: Learning from exploration, exploitation and human capital in R&D By Pablo D’Este; Alberto Marzucchi; Francesco Rentocchini
  3. Entry of Foreign Multinational Firms and Productivity Growth of Domestic Firms: An Empirical Analysis Based on the Firm-Level Data Underlying the Basic Survey on Business Structure and Activities(in Japanese) By Keiko ITO
  5. How Do Geographical and Organisational Proximity Influence the Relational Pattern of MNCs’ Global Innovation Networks: An In-depth Case Study By Liu, Ju
  6. Persistence of cooperation on innovation: Econometric evidence from panel micro data By Srholec , Martin
  7. Regional industrial path development in different regional innovation systems: A conceptual analysis By Isaksen , Arne; Trippl , Michaela
  8. The Competitiveness of Global Port-Cities: The Case of Antofagasta, Chile By Olaf Merk
  9. The Competitiveness of Global Port-Cities: The Case of Danube Axis (Bratislava, Štúrovo, Komárno), Slovak Republic By Marten van den Bossche; Olaf Merk; Jing Li
  10. Knowledge Economy Gaps, Policy Syndromes and Catch-up Strategies: Fresh South Korean Lessons to Africa By Asongu, Simplice A
  11. Patents, Innovation and Economic Geography By Francesco LISSONI; Ernest MIGUELEZ
  12. The case of Oresund (Denmark-Sweden) – Regions and Innovation: Collaborating Across Borders By Claire Nauwelaers; Karen Maguire; Giulia Ajmone Marsan
  13. A patentability requirement and industries targeted by R&D By Keiichi Kishi
  14. Globalization, Peace & Stability, Governance, and Knowledge Economy By Amavilah, Voxi; Asongu, Simplice A; Andrés, Antonio R
  15. The Significant Elements of Business Knowledge in the Internationalisation Process of the Visegrad Group Corporations By S. Gubik, Andrea; Bartha, Zoltán
  16. Empirical Analysis of the Assessment of Innovation Effects in U.S. Merger Cases By Wolfgang Kerber; Benjamin Kern; Ralf Dewenter
  17. Foreign Direct Investment, Source Country Heterogeneity and Management Practices By Heyman, Fredrik; Nor, Pehr-Johan; Hammarberg, Rickard
  18. Ownership Change, Multinationals, and Growth of New Technology-Based Firms By Xiao , Jing
  19. The Fundamental Determinants of Competitiveness in African Countries By Julius A. Agbor and Olumide Taiwo
  20. The Industrial Organisation of the Dance Industry in the Netherlands: a Transaction Cost Perspective on Hybrid Forms of Organisation By Frank A.G. den Butter; Jelle Joustra
  21. Strategic Trade Policies with Endogenous Choice of Competition Mode under a Vertical Structure By Choi, Kangsik; Lim, Seonyoung

  1. By: Grega Smrkolj (Newcastle University, United Kingdom); Florian Wagener (University of Amsterdam, the Netherlands)
    Abstract: We study a stochastic dynamic game of process innovation in which firms can initiate and terminate R&D efforts and production at different times. We discern the impact of knowledge spillovers on the investments in existing markets, as well as on the likely structure of newly forming markets, for all possible asymmetries between firms. We show that the relation between spillovers, R&D efforts, and surpluses is non-monotonic and dependent on both the relative and absolute efficiency of firms. Larger spillovers increase the likelihood that a new technology is brought to production, but they do not necessarily make the industry more competitive.
    Keywords: Differential game, Feedback Nash equilibrium, Numerical partial differential equations, R&D, Spillovers
    JEL: C61 C63 C73 D43 D92 L13 O31
    Date: 2014–08–22
  2. By: Pablo D’Este (INGENIO [CSIC-UPV], Universidad Politécnica de Valencia, Spain); Alberto Marzucchi (Dept. of International Economics, Institutions and Development (DISEIS), Catholic University of Milan, Italy; INGENIO [CSIC-UPV], Universidad Politécnica de Valencia, Spain); Francesco Rentocchini (Southampton Business School, University of Southampton, United Kingdom)
    Keywords: innovation failure, exploration, exploitation, human capital, learning
    JEL: O32 D83 D22 J24
    Date: 2014–10
  3. By: Keiko ITO
    Abstract: This paper examines whether and how the entry of foreign multinational firms affects the productivity growth of domestically-owned firms, i.e., foreign direct investment (FDI) spillover effects, using a large-scale Japanese firm-level dataset including a large number of services firms. The results suggest that foreign presence in a particular industry does not generate positive spillover effects and both in manufacturing and service sector industries in fact tends to negatively affect the productivity growth of domestically-owned firms. Moreover, the negative FDI spillover effect tends to be larger in the service than in the manufacturing sector, implying that there may be systematic differences in FDI spillover effects between these sectors. However, the negative spillover effects are smaller for firms catching up towards the productivity frontier than for other firms, and in the long run, their productivity growth is positively associated with foreign presence in the same industry. Nevertheless, the overall effect of inward FDI is still negative and further investigation on which factors lead to positive FDI spillovers is desirable. A possible interpretation of these results is that foreign entry increases the productivity gap between firms with high productivity growth and other firms. If this interpretation is correct, the results suggest that to raise macro-level productivity growth, the promotion of inward FDI should be accompanied by policies to encourage firms with low productivity growth to accelerate their productivity growth or to force them to exit from the market.
    Date: 2013–01
  4. By: Vesna Vlaisavljevic (Department of Business Administration, Universidad Pablo de Olavide); Carmen Cabello Medina (Department of Business Administration, Universidad Pablo de Olavide); Ana Pérez-Luño (Department of Business Administration, Universidad Pablo de Olavide)
    Abstract: Alliances are increasingly considered a key issue for innovation, especially in knowledge-intensive firms. While this is true, the mere membership to alliances does not explain innovation performance, and thus the alliance’s characteristics that determine high performance must be examined. Our research address the question of how the diversity of partners in a certain alliance for innovation affects innovation performance, and how this influence can be moderated by certain characteristics, such as the social capital and type of knowledge shared among partners. The empirical analysis of a sample of 90 biotech companies shows that diversity, on its own, does not explain alliance performance. Instead, social capital and codified knowledge, as moderating variables, may help reap the benefits of diversity. This effect is not unlimited, so beyond a certain level of diversity, the moderating variables become less effective.
    Keywords: North-South, growth model, innovation assimilation
    Date: 2014–10
  5. By: Liu, Ju (CIRCLE, Lund University)
    Abstract: This paper explores the influencing mechanism of geographical and organisational proximity/distance on the intra-firm relations and external linkages in multinational companies’ (MNCs) global innovation networks (GINs). It adopts an in-depth case study method and employs social network analysis to study the relational pattern of the case GINs and to understand how the relations are organised and why they are organised in a certain pattern. It is found that the intra-firm relations of both case MNCs’ GINs are similarly organised in a global way. The external linkages in the two case GINs are organised in different ways (global vs local) which depend on the dominant knowledge is science-based or engineering-based. Two influencing mechanisms, namely complementary effect and conditional reinforcing effect, are found and discussed. Evidences in practice are identified.
    Keywords: Global innovation network; MNC; Geographical proximity; Organisational proximity; Social network analysis
    JEL: D85 F23 L62 L63
    Date: 2014–09–10
  6. By: Srholec , Martin (CERGE-EI, Prague and CIRCLE, Lund University)
    Abstract: Arrangements to cooperate on innovation facilitate access to external sources of knowledge. Using panel data derived from five waves of Community Innovation Survey in the Czech Republic, we examine whether firms engage in these arrangements persistently or rather revert to other behaviour. Econometric estimates of dynamic random effects and multivariate probit models provide strong support to the thesis of persistence, particularly of linkages with the university sector and suppliers. The results are robust to the initial conditions problem and serial correlation in idiosyncratic errors. Government programs initiating cooperation on innovation therefore have the potential to induce durable changes in the innovative behaviour of firms.
    Keywords: Innovation; cooperation; persistence; panel data; Community Innovation Survey; Czech Republic
    JEL: C23 C25 L20 O31 O32
    Date: 2014–09–28
  7. By: Isaksen , Arne (Department of Working Life and Innovation, University of Agder); Trippl , Michaela (CIRCLE, Lund University)
    Abstract: The notion of path dependent regional industrial development has recently received increasing attention in economic geography, innovation studies and related fields. A core idea is that pre-existing industrial and institutional structures constitute the regional environment in which current activities occur and new activities arise. This may lead to a high degree of inertia of industrial structures and reflects the persistence of region-specific institutions, social forms and cultural traditions. The aim of this paper is to take a more nuanced view on regional economic development and to explore conceptually how various types of regions can renew themselves by moving beyond existing paths. Scholarly contributions to regional industrial path development have often emphasised firm-specific routines, norms and tacit knowledge that first of all underpin path extension, i.e., incremental product and process innovations in existing industries and along established technological paths. The paper extends this approach by looking at alternative paths that point to different forms of transformation of regional economies. A distinction between path renewal (branching of existing industries into different but related ones) and path creation (emergence of new industries) is drawn. The paper also extends the mainly micro-level and firm-based views of evolutionary economic geography with an institutional perspective, offered by the regional innovation system (RIS) concept. This enables us to capture the influence of the wider regional environment on the innovation capability of firms. We distinguish between different types of RISs: i) organisationally thick & diversified RISs, ii) organisationally thick & specialised RISs, and iii) organisationally thin RISs. The paper analyses in a conceptual way the relation between these RIS types and forms of regional industrial path development. We demonstrate that various types of regions, with their specific RISs, tend to transform themselves in different ways, i.e., they can be expected to embark on different development paths. We also discuss adequate policy approaches for the various types of regions.
    Keywords: Regional industrial path development; regional innovation systems; innovation policy
    JEL: O18 O38 R11
    Date: 2014–09–28
  8. By: Olaf Merk
    Abstract: This working paper offers an evaluation of the performance of ports of Antofagasta, an analysis of the impact of the ports on their territory and an assessment of policies in this field. It examines port performance over the last decades and identifies the principal factors that have contributed to it. The effect of the port on economic and environmental questions is studied and quantified where possible. The major policies governing the ports are assessed, along with policies governing transport and economic development, the environment and spatial planning. Based on the report’s findings, recommendations are proposed with a view to improving port performance and increasing the positive effects of the ports of Antofagasta.
    Keywords: transportation, regional growth, inter-regional trade, regional development, ports, urban growth
    JEL: D57 L91 R11 R12 R15 R41
    Date: 2013–09–30
  9. By: Marten van den Bossche; Olaf Merk; Jing Li
    Abstract: This working paper offers an evaluation of the performance of the inland ports of the Slovak Republic within the framework of the Danube Axis, an analysis of the impact of the ports on their territory and an assessment of policies in this field. It examines port performance over the last decades and identifies the principal factors that have contributed to it. The effect of the port on economic and environmental questions is studied and quantified where possible. The major policies governing the ports are assessed, along with policies governing transport and economic development, the environment and spatial planning. Based on the report’s findings, recommendations are proposed with a view to improving port performance and increasing the positive effects of the inland ports of Slovak Republic.
    Keywords: transportation, regional growth, inter-regional trade, regional development, ports, urban growth
    JEL: D57 L91 R11 R12 R15 R41
    Date: 2013–09–27
  10. By: Asongu, Simplice A
    Abstract: Africa’s overall knowledge index fell between 2000 and 2009. South Korea’s economic miracle is largely due to a knowledge-based development strategy that holds valuable lessons for African countries in their current pursuit towards knowledge economies. Using updated data (1996-2010), this paper presents fresh South Korean lessons to Africa by assessing the knowledge economy (KE) gaps, deriving policy syndromes and providing catch-up strategies. The 53 African frontier countries are decomposed into fundamental characteristics of wealth, legal origins, regional proximity, oil-exporting, political stability and landlockedness. The World Bank’s four KE components are used: education, innovation, information & communication technology (ICT) and economic incentives & institutional regime. Absolute beta and sigma convergence techniques are employed as empirical strategies. With the exception of ICT for which catch-up is not very apparent, in increasing order it is visible in: innovation, economic incentives, education and institutional regime. The speed of catch-up varies between 8.66% and 30.00% per annum with respective time to full or 100% catch-up of 34.64 years and 10 years. Based on the trends and dynamics in the KE gaps, policy syndromes and compelling catch-up strategies are discussed. Issues standing on the way to KE in Africa are dissected with great acuteness before South Korean relevant solutions are provided. The paper is original in its provision of practical policy initiatives drawn from the Korean experience to African countries embarking on a transition to KE.
    Keywords: Knowledge economy; Catch-up; South Korea; Africa
    JEL: O10 O30 O38 O55 O57
    Date: 2014–08–14
  11. By: Francesco LISSONI; Ernest MIGUELEZ
    Abstract: In this paper we review 20 years of quantitative research in the geography of innovation, to whose advancement patent data have contributed in a decisive way. We know now that the importance attributed by the earliest studies to knowledge externalities as an agglomeration force was excessive. Localized knowledge flows exist, and explain agglomeration, but they are largely mediated by the labor market and markets for technologies. Besides, we know now that physical distance may affect knowledge diffusion, but so do social distance between inventors as well as inter- and intra-national borders. We also witness an ongoing widening of the research focus, from local/regional to international, with migration issues concerning inventors coming to the forefront.
    Keywords: economic geography, patents, intellectual property, innovation, inventors, spillovers, migration
    JEL: F22 J61 O31 R11 R12
    Date: 2014
  12. By: Claire Nauwelaers; Karen Maguire; Giulia Ajmone Marsan
    Abstract: The Oresund is the most well-known example of European cross-border collaboration, building on the metropolitan area around Copenhagen and, across the sound, southern Sweden with the cities of Malmö, Lund and Helsingborg. Cross-border integration intensified following the opening of a fixed-link bridge/tunnel in 2000. Commuting, student flows and cross-border residency have been on the rise in this knowledge-intensive area. Cross-border cluster efforts have had varying degrees of longevity, with Medicon Valley being the most internationally known brand. After hitting a plateau in terms of integration, the area is seeking renewed inspiration for cross-border efforts. This case study is part of the project Regions and Innovation: Collaborating Across Borders. A summary of this working paper appears in a report of the same name.
    JEL: L52 L53 O14 O18 O38 R11 R58
    Date: 2013–12–11
  13. By: Keiichi Kishi (Graduate School of Economics, Osaka University)
    Abstract: We introduce into a Schumpeterian growth model an inventive step, which is a minimum innovation size required for patents, and thus a patentability requirement. We show that in order to satisfy an inventive step requirement, each R&D firm targets only industries in which the incumbentfs technology is sufficiently obsolete. This is because the technological gap between innovator and incumbent is larger in industries that use older technologies. Although strengthening an inventive step requirement reduces the number of industries targeted by R&D, it also increases the amount of R&D investment directed at the targeted industries. Consequently, introducing an inventive step has either a nonmonotonic or a negative effect on the aggregate flow of innovations, which has some empirical support. Furthermore, by deriving the endogenous long-run distribution of innovation size, we show that strengthening an inventive step reduces innovation size on average, which also has empirical support. This implies that even if the patent office only grants patents for superior innovations, compared with prior art references, this causes innovators to produce inferior-quality innovations on average.
    Keywords: Technological progress, Innovations, Intellectual property rights
    JEL: O31 O34 O41
    Date: 2014–10
  14. By: Amavilah, Voxi; Asongu, Simplice A; Andrés, Antonio R
    Abstract: A previous analysis of the impact of formal institutions on the knowledge economy of 22 Middle-Eastern and Sub-Sahara African countries during the 1996-2010 time period concluded that formal institutions were necessary, but inadequate, determinants of the knowledge economy. To extend that study, this paper claims that globalization induces peace and stability, which affects governance and through governance the knowledge economy. The claim addresses one weakness of previous research that did not consider the effects on the knowledge economy of globalization. We model the proposition as a three-stage process in four hypotheses, and estimate each hypothesis using robust estimators that are capable of dealing with the usual statistical problems without sacrificing economic relevance and significance. The results indicate that globalization has varying effects on peace and stability, and peace and stability affect governance differently depending on what kind of globalization induces it. For instance, the effects on governance induced by globalization defined as trade are stronger than those resulting from globalization taken to be foreign direct investment. Hence, we conclude that foreign direct investment is not a powerful mechanism for stimulating and sustaining the knowledge economy in our sample of countries. However, since globalization-induced peace and stability have both positive and negative effects on governance simultaneously, we also conclude that while the prospect for knowledge economy in African countries is dim, it is still realistic and attainable as long as these countries continue to engage in the kind of globalization that does indeed induce peace and stability. We further conclude that there is a need for a sharper focus on economic and institutional governance than on general governance as one possible extension of this paper.
    Keywords: Globalisation; Peace and Stability; Governance; Knowledge Economy
    JEL: I20 I28 K42 O10 O55
    Date: 2014–08–14
  15. By: S. Gubik, Andrea; Bartha, Zoltán
    Abstract: The aim of this chapter is to identify the knowledge elements that are crucial in the internationalisation process of the Visegrad Group firms. It uses a two-dimensional model of business knowledge, which separates business knowledge along two dimensions: the tacit or explicit nature; and the codified or uncodified one. This model tells us that tacit and codified knowledge is the most difficult to transfer, while the explicit-uncodified part is the easiest. The five types of business knowledge were measured with a questionnaire conducted among 1124 firms from the V4 countries, including 240 Polish, 597 Czech, 113 Hungarian and 144 Slovak firms. It was found that knowledge is significantly related to the internationalisation process. The most important knowledge elements in both the decision of going international, and the intensity of internationalisation are the tacit and codified parts.
    Keywords: Internationalisation, business knowledge, Visegrad countries
    JEL: L20 L21 M16
    Date: 2014–06–09
  16. By: Wolfgang Kerber (University of Marburg); Benjamin Kern (University of Marburg); Ralf Dewenter (HSU Hamburg)
    Abstract: In this empirical study all mergers that have been challenged by the U.S. antitrust agencies FTC and DOJ between 1995 and 2008 were analyzed in regard to the question to what extent and how the agencies assessed the innovation effects of mergers. Theoretical background is the still open question how negative effects of mergers on innovation should be taken into account in merger policy. Although we can show in our study that in one third of all challenged mergers also innovation concerns were raised, the results also point to a still existing large degree of uneasiness and inconsistencies of the agencies in regard to the assessment of innovation effects. A particularly interesting result is that - despite the wide-spread rejection of the "innovation market approach" in the antitrust debate - the agencies used more an innovationspecific assessment approach that includes also innovation in the market definition than the pure traditional product market concept. Additionally, we also found significant differences between the assessment approaches of the FTC and the DOJ.
    Keywords: innovation, merger policy, US antitrust, innovation market
    JEL: K21 L12 L41 O31
    Date: 2014
  17. By: Heyman, Fredrik (Research Institute of Industrial Economics (IFN)); Nor, Pehr-Johan (Research Institute of Industrial Economics (IFN)); Hammarberg, Rickard (Research Institute of Industrial Economics (IFN))
    Abstract: This paper examines whether and, if so, why source country heterogeneity exists in foreign direct investment (FDI). Using detailed data on all Swedish firms for the period from 1996 to 2009, we find statistical evidence that affiliate performance differs systematically across source countries. For instance, affiliates of US multinational enterprises (MNEs) are, on average, approximately three times more productive than affiliates headquartered in the Nordic countries. One possible explanation for these discrepancies is differences in organization practices across source countries. Using new firm-level data from the World Management Survey to estimate a global index of the quality of management practices for MNEs with headquarters in our source countries of interest, we find that source country heterogeneity in affiliate performance is highly correlated with differences in management practices.
    Keywords: Multinational firms; FDI; Management practices; Firm performance
    JEL: F21 F23 L10 M10
    Date: 2014–09–25
  18. By: Xiao , Jing (CIRCLE and Department of Economic History, Lund University)
    Abstract: New technology-based firms (NTBFs) are usually restricted by limited ownership and management structures. This paper explores whether acquisition, particularly that by multinational enterprises (MNEs), promotes the growth of NTBFs. Based on micro-level longitudinal data, we construct a large sample of Swedish NTBFs entering from 1997 to 2002 and follow them until 2009. This paper uses fixed effects models combined with inverse-probability-of-treatment weights (IPTW) to account for endogeneity of acquisition arising from both time-invariant and time-variant heterogeneity across firms. The findings show that acquisition by Swedish MNEs significantly improves the growth of NTBFs, but only when it comes to the growth in employees. In contrast, acquisition by both foreign MNEs and Swedish domestic enterprises are not found to have any significant effects on the growth in either employees or sales of NTBFs.
    Keywords: acquisition; firm growth; new technology-based firms; multinational enterprises; longitudinal data; fixed effects models; inverse-probability-of-treatment weights; Sweden
    JEL: F23 G34 L22 O33
    Date: 2014–11–05
  19. By: Julius A. Agbor and Olumide Taiwo
    Abstract: This study investigates the drivers of competitiveness in African economies. While the macroeconomic perspective focuses on the behavior of the real effective exchange rate (REER), and the international competition framework emphasizes export market shares (EXPS), the business strategy framework emphasizes high-value production by means of domestic and foreign factors in a way that is consistent with global supply chains. In this paper, we assess competitiveness in the business strategy framework through a Trade-Weighted Value added index (TWV). The empirical section estimates fixed effects models explaining the measures of competitiveness by a set of factors using a panel dataset of African countries during 1980-2010. The results show that the TWV is the most consistent with the framework underlying the Global Competitiveness Report (GCR) in comparison with the other measures. Evidence based on the TWV suggests that the CFA franc zone economies are not less competitive than their sub-Saharan African counterparts as the exchange rate framework suggests. Indeed, movements in the REER are the least connected to the components of the GCR. The evidence also suggests that although there is no one-size-fits-all prescription for improving competitiveness in African economies, human capital stands out as a fundamental driver. In terms of policy, African states need to invest importantly in human capital, maintain a stable macroeconomic framework, while actively pursuing a number of regional and structural-context specific non-price competitiveness enhancing policies.
    Keywords: Competitiveness, Real Effective Exchange Rate, Manufacturing Export Shares, Trade-Weighted Value-added, Generalized Double Diamond Model
    JEL: O11 O40 F43
    Date: 2014
  20. By: Frank A.G. den Butter (VU University Amsterdam); Jelle Joustra (VU University Amsterdam, the Netherlands)
    Abstract: The organization of Electronic Dance Music (EDM) events has become a major export product in the Netherlands. In order to respond quickly to the new trends and needs, innovative forms of cooperation between producers are to be set up for the organization of exciting new events. A case study on how these EDM events are actually organised in the Netherlands shows that the best way to do it is through hybrid forms of organisation, which combine horizontal forms of organisation through the market and vertical forms through the hierarchy. As EDM events are characterised by much asset specificity, the perspective of transaction cost economics indicates why this industry relies on hybrid forms of organisation. Trust between the collaborating partners, intrinsic motivation to be professional in the design and creation of new, ground-breaking music sensations and an extensiv e use of social media play a key role in lowering the transaction costs in the dance industry.
    Keywords: Industrial organization, coordination costs, transaction cost economics, resource based view, cooperation in hybrid organizations, Electronic Dance Music (EDM) events, trust, use of social media
    JEL: D23 D85 E23 L23 L24 L82 O31 P13
    Date: 2014–07–24
  21. By: Choi, Kangsik; Lim, Seonyoung
    Abstract: This paper examines the endogenous choice of competition mode with strategic export policies in vertically related markets. We show that (i) regardless of the nature of goods, choosing Bertrand competition is the dominant strategy for downstream firms, which leads downstream firms to face a prisoners' dilemma; (ii) the optimal export intervention can be a subsidy under Bertrand competition; and (iii) when the choice of competition mode is delegated to upstream firms or to the upstream firm on country and the downstream firm in the other country, multiple equilibria (quantity-price and price-quantity competitions) can be sustained except those for which goods are sufficiently close complements. With the exception of such a case, Bertrand competition can be sustained with this delegation of competition mode choice. Thus, a conflict of interest between downstream and upstream firms may or may not occur, as social welfare depends on who chooses the competition mode and the degree of imperfect complementarity. This contrasts with the result under free trade, which shows that there is no conflict of interests between upstream and downstream firms with Cournot (Bertrand) competition when the goods are substitutes (complements) in equilibrium.
    Keywords: Choice of Cournot and Bertrand, Subsidy, Vertical Structure, Delegation, Welfare.
    JEL: F10 F12 L13
    Date: 2014–10–04

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