nep-cse New Economics Papers
on Economics of Strategic Management
Issue of 2016‒07‒09
23 papers chosen by
João José de Matos Ferreira
Universidade da Beira Interior

  1. Does Internal and External Research and Development Affect Innovation of Small and Medium-Sized Enterprises? Evidence from India and Pakistan By Rehman, Naqeeb Ur
  2. Agglomeration and Technological Spillovers: Firm-Level Evidence from China's Electric Apparatus Industry By He, Ming; Chen, Yang; Schramm, Ronald M.
  3. Determinants of Related and Unrelated Export Diversification By Muhammad Ali
  4. Firm-Level Evidence on the Cooperative Innovation Strategies in Russian Manufacturing By Vitaliy Roud; Valeriya Vlasova
  5. The Impact of Finance on the Performance of Thai Manufacturing Small and Medium-Sized Enterprises By Amornkitvikai, Yot; Harvie, Charles
  6. Human Capital Development in the People's Republic of China and India: Achievements, Prospects, and Policy Challenges By Asian Development Bank (ADB); Asian Development Bank (ADB); Asian Development Bank (ADB); Asian Development Bank (ADB)
  7. Training, quality of management and firm level bargaining By Damiani, Mirella; Ricci, Andrea
  8. Creativity pays off. Innovation, innovation strategy, and internationalization By Tomasz Brodzicki; Dorota Ciolek
  9. Capabilities and Skills By Heckman, James J.; Corbin, Chase O.
  10. Entrepreneurial Experimentation: A key function in Entrepreneurial Systems of Innovation By Lindholm-Dahlstrand, Asa; Andersson, Martin; Carlsson, Bo
  11. Incorporating innovation subsidies in the CDM framework: Empirical evidence from Belgium By Czarnitzki, Dirk; Delanote, Julie
  12. Patients’ contributions as a quid pro quo for community’s supports? Evidence from Vietnamese co-location clusters By Quan-Hoang Vuong; Ha Nguyen
  13. Firm Employment Growth, R&D Expenditures and Exports By Marco Di Cintio; Sucharita Ghosh; Emanuele Grassi
  14. The Causal Effect of Education on Health Behaviors: Evidence from Turkey By Aysit Tansel; Deniz Karaoglan
  15. The determinanths of industrialisation in developing countries, 1960-2005 By Guadagno, Francesca
  16. Global Value Chains and New Thinking on Trade and Industrial Policy By Xing Yuqing
  17. Relationship of financial stability and risk with market structure and competition: evidence from Indian banking sector By Sinha, Pankaj; Sharma, Sakshi
  18. Do Intellectual Property Rights Influence Cross-Border Mergers and Acquisitions ? By Mercedes Campi; Marco Duenas; Matteo Barigozzi; Giorgio Fagiolo
  19. Local and Sectoral Import Spillovers in Sweden By Evangelia Leda Pateli
  20. A Comparison of Australian and Canadian Productivity Performance: Lessons for Canada By Evan Capeluck
  21. Short-run and Long-run Effects of Capital Taxation on Innovation and Economic Growth By Chen, Ping-ho; Chu, Angus C.; Chu, Hsun; Lai, Ching-Chong
  22. Technological capabilities, technological dynamism and innovation offshoring By Schubert, Torben; Baier, Elisabeth; Rammer, Christian
  23. La internacionalización de las empresas en Colombia By Germán Enrique Nova Caldas

  1. By: Rehman, Naqeeb Ur (Asian Development Bank Institute)
    Abstract: This study investigates the impact of internal and external research and development (R&D) on the innovation performance of small and medium-sized enterprises (SMEs) in India and Pakistan. Micro-level data was obtained for 3,492 Indian and 696 Pakistani SMEs from the World Bank’s Enterprise Survey, and bivariate probit estimation techniques were used. The results show that internal and external R&D positively affects product and process innovations. However, this effect is stronger for Indian SMEs. The negative relationship between firm size and innovation output implies that SMEs in both countries face resource constraints. Further, Indian SMEs are dominant in terms of undertaking internal R&D and generating product and process innovations relative to those in Pakistan. The complementary rel¬ationship between internal and external R&D has been examined for both countries. The study is unique in comparing Indian and Pakistani SMEs innovation activities using micro-level data. The results suggest that business managers can utilize a balanced combination of internal and external R&D to accelerate innovation output and increase absorptive capacity. Specifically, public support for innovation, such as R&D grants, subsidies, and tax credits, could encourage SMEs to undertake more radical innovations.
    Keywords: India; Pakistan; SME; R&D; innovation; technology; firm; product innovation; process innovation; external R&D; internal R&D; absorptive capacity; innovative capacity; public support; incentives; output; bank loans; subsidies; tax credit
    JEL: D22 L25 O31 O32
    Date: 2016–06–24
  2. By: He, Ming (Division of Economics, Xi'an Jiaotong-Liverpool University); Chen, Yang (Division of Economics, Xi'an Jiaotong-Liverpool University); Schramm, Ronald M. (Division of Economics, Xi'an Jiaotong-Liverpool University)
    Abstract: We use a spatial autoregressive model to study the determinants of firm-level productivity growth using longitudinal data on China's electric apparatus industry over the period of 1999-2007. Factors considered include technological spillover, R&D and export behavior, agglomeration economies, and public expenditure. We propose modifications to Kelejian and Prucha's (1998) FE-2SLS procedure and Mutl and Pfaffermayr's (2011) RE-FG2SLS procedure to cope with the technical difficulties with our unbalanced panel. Statistical evidence strongly favors the fixed effects model over the random effects model. According to our estimates, there are large and signiffcant technological spillovers among firms. Individually, firms benefit from their own R&D and export activities. Market competition and public expenditure in the local and neighboring jurisdictions are found to be important determinants to productivity. Our model also provides direct evidence that the technological spillover effects attenuate rapidly in spatial distance. Finally, the inter-regional spillover effects are found to be more pronounced and more significant on urban districts or jurisdictions with smaller geographical areas. Geographic proximity to neighbors and special administrative role jointly contribute to this observation.
    Date: 2016–03–03
  3. By: Muhammad Ali (Friedrich Schiller University, Jena, Germany)
    Abstract: This paper contributes to the literature on determinants of export diversification by introducing related variety (RV) and unrelated variety (UV) in the analysis in addition to the traditional entropy based measure at three-digit SITC level, overall variety (OV). RV measures variety in cognitively related industries, while UV measures variety in industries that are unrelated to each other. Studies on RV and UV have shown that the dynamics of their relationship with economic growth and innovation may differ and one would expect that the determinants of RV and UV may also be different. Therefore, using data on manufacturing sector exports for 130 countries from 1996 to 2011, this paper analyzes the determinants of export diversification with primary focus on foreign direct investment as an external source of knowledge and a stimulus to entrepreneurship and human capital as a measure of productive capabilities. Considering the concern of endogeneity bias, estimations of the econometric models were performed using generalized method of moments. Findings show that the determinants of variety have different effects for different types of variety. The size of an economy and its trade openness significantly and positively affect all three types of diversification. Results also show that FDI negatively affects RV while there is no significant relationship with OV and UV. Moreover, interaction of human capital with FDI appears to be positive and significant for UV and RV while interaction of human capital with openness only appears to be significant and positive for RV showing the importance of knowledge through external sources in the process of diversification.
    Keywords: Export diversification, Related variety, Unrelated variety, Human Capital, Foreign direct investment, Generalized Method of Moments
    JEL: F14 F21 O33
    Date: 2016–07–06
  4. By: Vitaliy Roud (National Research University Higher School of Economics); Valeriya Vlasova (National Research University Higher School of Economics)
    Abstract: This paper focuses on revealing the heterogeneous impact of firms’ specificities and the environment on the sophistication of the cooperative innovation strategies. We use the firm-level data on innovation strategies of over 1200 manufacturing enterprises in Russia to model the networking strategy as a simultaneous choice of the range of cooperative linkages (within and beyond the value chain and knowledge production sectors). The determinants comprise the internal factors (as absorptive capacity) and the external conditions (e.g. technological opportunities, appropriability and competition regimes). Revealed effects prove the initial heterogeneity hypothesis thus challenging the wide-spread simplified perception of ‘openness’ of the innovation strategy as a one-dimensional characteristic
    Keywords: Innovation cooperation; open innovation; firm-level; Russia; manufacturing; innovation strategy; multivariate probit.
    JEL: L2 O3
    Date: 2016
  5. By: Amornkitvikai, Yot (Asian Development Bank Institute); Harvie, Charles (Asian Development Bank Institute)
    Abstract: This study sheds light on small and medium-sized enterprise (SME) financing and its performance in Thailand. It elaborates on the key sources of finance existing for Thai manufacturing SMEs and their importance for SME performance as measured by technical efficiency, export performance, and technological innovation. This study also examines the key factors enhancing SME access to external finance. Our results confirm that retained earnings are crucial to increase SME technical efficiency, but loans from unlicensed moneylenders deteriorate their export performance. For external finance, government-owned specialized financial institutions (SFIs) play a leading role in enhancing SME technical efficiency and export performance, but the results from the survey reveal that few Thai manufacturing SMEs actively seek external finance from these institutions. Foreign commercial banks also help enhance SME technical efficiency. The results show that larger SMEs have superior performance as measured by export performance and technological innovation performance. The results also reveal that financial institutions in Thailand still rely on collateral-based lending and SME financial transparency through audited financial statements to reduce asymmetric information and adverse selection costs.
    Keywords: Thailand; manufacturing; SME; specialized financial institution; exports; export performance; technical efficiency; technology; innovation; market access; human resources; credit; financing; banks; business loans; collateral; interest rate
    JEL: D22 D24 G20 L25 L60
    Date: 2016–06–23
  6. By: Asian Development Bank (ADB); Asian Development Bank (ADB) (South Asia Department, ADB); Asian Development Bank (ADB) (South Asia Department, ADB); Asian Development Bank (ADB)
    Abstract: This report was prepared with the primary objective of drawing insights on how Asian economic giants India and the People’s Republic of China leveraged education and skills development to advance economic growth. The analysis presented similarities and differences in human capital development strategies and their outcomes that helped define development pathways between the two countries. It also outlined the prospects for human capital development in the sustainability of the two countries’ economic growth. The report was completed in 2014 under the Development Partnership Program for South Asia: Innovative Strategies for Accelerated Human Resource Development in South Asia (TA-6337 REG).
    Keywords: education, skills development, human capital, PRC, India, literacy rates, formal skills training, informal employment
    Date: 2016–01
  7. By: Damiani, Mirella; Ricci, Andrea
    Abstract: Abstract The double aim of this paper is to investigate the link between firm training behaviour and the adoption of performance-related pay (PRP) and to verify how the quality of management contributes to explaining the strength of this link. Using Ordinary Least Squares Estimates and Fixed Effect Estimates for a sample of Italian firms, we find that training is a significant determinant of firm level bargaining on PRP. Furthermore, we find that managerial quality plays a significant positive role and suggest that this is because managerial quality favours the evolution of social norms based on wage bonuses that enhance trust, sustain collaborative relationships and motivate co-workers to train each other. Jel Classifications: M53; M52; J50; I20
    Keywords: Keywords: Training; Compensation; Management; Education
    JEL: J3 J33 M52 M53
    Date: 2016–06–21
  8. By: Tomasz Brodzicki (University of Gdansk, Faculty of Economics; Institute for Development, Sopot); Dorota Ciolek (University of Gdansk, Faculty of Management, Department of Econometrics, Sopot, Poland; Institute for Development, Sopot, Poland;)
    Abstract: A lot of recent empirical research points to the superior performance of exporting firms in comparison to non-exporters. Exporters on average are found to be larger, more productive, more capital and skilled-intensive than non-exporters At the same time, innovation and exporting seem to be inextricably linked at firm-level. Apart from several recent studies, the literature on it for Poland is scarce. This paper analyses the relationship between innovation behaviour, declared innovation strategy and internationalization in a panel of firms from Poland from an extensive survey conducted by the Institute for Development. The results support the idea that the superior performance of the exporters is linked to a large extent to their superior innovation performance. Exporters prove to be more focused on innovations, are more aware of the need to implement changes, and are better prepared to introduce them in reality. They are more probable to be creative and are more likely to behave in a more strategic manner assuming the position of a market leader. We positively identify critical linkages between the declared innovation strategy and export states of Polish companies. Utilizing the classification of Hobday, Rush & Bessant (2004) and controlling for the significance of innovation (firm or market) level, we show that innovatively passive firms have, ceteris paribus, a significantly lower probability of obtaining exporter status. The introduction of innovations at ad hoc manner has a positive however statistically insignificant effect. Only permanent innovators or creative firms enjoy a clear and robust increase in their exporting probability potential. It simply pays off to be innovative. At the same time, our results support the postulates by Altomonte et al. (2013), on the close connection between innovation and internationalization extents.
    Keywords: Innovation, Innovation strategy; Internationalization; Trade; Firms survey; Logit modelling
    JEL: F14 C83 C21 D22 L25
    Date: 2016–06
  9. By: Heckman, James J. (University of Chicago); Corbin, Chase O. (Center for the Economics of Human Development (CEHD))
    Abstract: This paper discusses the relevance of recent research on the economics of human development to the work of the Human Development and Capability Association. The recent economics of human development brings insights about the dynamics of skill accumulation to an otherwise static literature on capabilities. Skills embodied in agents empower people. Enhanced skills enhance opportunities and hence promote capabilities. We address measurement problems common to both the economics of human development and the capability approach. The economics of human development analyzes the dynamics of preference formation, but is silent about which preferences should be used to evaluate alternative policies. This is both a strength and a limitation of the approach.
    Keywords: skills, capabilities, freedom, technology of skill formation
    JEL: D63 D04 D31 I31
    Date: 2016–06
  10. By: Lindholm-Dahlstrand, Asa (CIRCLE, Lund University); Andersson, Martin (CIRCLE, Lund University); Carlsson, Bo (CIRCLE, Lund University)
    Abstract: There is a need for a conceptual approach that, with reference to explicit micro-level mechanisms and processes of industrial dynamics, articulates the role and function of entrepreneurial experimentation in innovation systems. This paper develops the concept of ‘entrepreneurial systems of innovation’ to address this gap in the literature. We argue that entrepreneurial experimentation comprises both ‘technical’ and ‘market’ experimentation, and that entrepreneurship must be conceptualized in terms of its function in innovation systems rather than as an outcome. At the systems level, the central function of entrepreneurial experimentation is to foster creation, selection and scaling-up of innovations. Spinoffs and acquisitions are proposed as examples of micro-mechanisms that give rise to system-wide entrepreneurial experimentation. Interaction between established organizations and new innovative entrants, through spinoffs and acquisitions, is an important characteristic of vibrant entrepreneurial systems of innovation.
    Keywords: entrepreneurship; experimentation; innovation systems; new technology-based firms; entrepreneurial systems of innovation; scaling up; growth
    JEL: L22 L26 O31 O33
    Date: 2016–06–22
  11. By: Czarnitzki, Dirk; Delanote, Julie
    Abstract: This paper integrates innovation input and output effects of R&D subsidies into a modified Crépon-Duguet-Mairesse (CDM) model. Our results largely confirm insights of the input additionality literature, i.e. public subsidies complement private R&D investment. In addition, results point to positive output effects of both purely privately funded and subsidy-induced R&D. Furthermore, we do not find evidence of a premium or discount of subsidy-induced R&D in terms of its marginal contribution on new product sales when compared to purely privately financed R&D.
    Keywords: CDM model,R&D,subsidies,innovation policy
    JEL: C14 C30 O38
    Date: 2016
  12. By: Quan-Hoang Vuong; Ha Nguyen
    Abstract: This paper studies the emerging societal phenomenon of voluntarily co-located patients communities, by examining a data set containing 336 responses from four such co-location clusters in Hanoi, Vietnam. The analysis successfully models the data employing the baseline category logits framework. The results obtained from the analysis show that patients co-living in these clusters contribute their resources (financial and in-kind) in hope of community's supports during their medical treatments. They also contribute voluntary services and share information/experiences with the community, with different beliefs on expected outcome with respect to their possible benefits provided by their communities. Patients value the business community's supports––a reflection of better awareness of corporate social responsibilities––higher, and are more skeptical toward expected benefits from the public health system. The results represent one of first attempts in understanding this special type of somewhat isolated circles of desperate patients who have been excluded from Vietnam's fast-growing emerging market economy.
    Keywords: Health behavior; co-located patients community
    JEL: I12 I19
    Date: 2016–06–22
  13. By: Marco Di Cintio (Department of Economics, Management, Mathematics and Statistics, University of Salento); Sucharita Ghosh (Department of Economics, The University of Akron); Emanuele Grassi (Department of Economics, Management, Mathematics and Statistics, University of Salento)
    Abstract: This paper studies firms’ decisions to export and invest in R&D and their effects on employment growth and labor flows for a sample of Italian SMEs operating in the manufacturing industry. After accounting for the under-reporting of R&D in SMEs, our quantile regressions reveal that (i) R&D is associated with higher employment growth rates, higher hiring rates and lower separation rates; (ii) R&D-induced exports are negatively related to employment growth and accessions and positively related to separations; and (iii) pure exports are not a driver of employment growth and labor flows.
    Keywords: Exports, R&D, Firm Growth, Quantile Regression
    JEL: J63 M51 O31 F14
    Date: 2016–06
  14. By: Aysit Tansel (Department of Economics, Middle East Technical University, IZA Bonn, and ERF Cairo); Deniz Karaoglan (Department of Economics, Middle East Technical University)
    Abstract: This study provides causal effect of education on health behaviors in Turkey which is a middle income developing country. Health Survey of the Turkish Statistical Institute for the years 2008, 2010 and 2012 are used. The health behaviors considered are smoking, alcohol consumption, fruit and vegetable consumption, exercising and one health outcome namely, the body mass index (BMI). We examine the causal effect of education on these health behaviors and the BMI Instrumental variable approach is used in order to address the endogeneity of education to health behaviors. Educational expansion of the early 1960s is used as the source of exogenous variation in years of schooling. Our main findings are as follows. Education does not significantly affect the probability of smoking or exercising. The higher the education level the higher the probability of alcohol consumption and the probability of fruit and vegetable consumption. Higher levels of education lead to higher BMI levels. This study provides a baseline for further research on the various aspects of health behaviors in Turkey.
    Keywords: Turkey, Health Behaviors, Education, Instrumental Variable Estimation
    JEL: I10 I12 I19
    Date: 2016–06
  15. By: Guadagno, Francesca (UNU‐MERIT, Maastricht University, and UNCTAD)
    Abstract: Industrialisation is generally considered a synonym of economic development. This paper contributes to the literature on the engine of growth hypothesis with an empirical analysis of the determinants of industrialisation. The paper goes back to the Cornwall (1977) model of manufacturing as an engine of growth and estimates the first equation of the model, i.e. the equation of manufacturing output growth. Hausman and Taylor models are estimated for a sample of 74 countries for the period 1960-2005. The results indicate that industrialisation is faster for larger countries with an undeveloped industrial base, strong export performance, and undervalued exchange rates. Skills and knowledge accumulation played an increasingly important role since the mid-1990s. Robustness checks corroborate the validity of these findings.
    Keywords: industrialisation, manufacturing sector, technological change, industrial policy
    JEL: O10 O14 O25
    Date: 2016–05–21
  16. By: Xing Yuqing (National Graduate Institute for Policy Studies)
    Abstract: This paper argues that global value chains (GVCs) have transformed bilateral trade relations into multilateral and value added approach is needed to accurately measure the contribution of trade to economic growth and bilateral trade balances. Under GVCs, the impact of exchange rates on bilateral trade balances have been weakened and technological innovations may not necessarily increase domestic employment. The challenges associated with the emergence of GVCs require an in-depth understanding of modern international trade, which in turn calls for new modes of thinking and new theories. For developing countries, focusing on specific segments of GVCs and upgrading industrial capacity along value chains could be an alternative path of industrialization.
    Date: 2016–06
  17. By: Sinha, Pankaj; Sharma, Sakshi
    Abstract: Academic debate over the ‘competition-fragility view’ and ‘competition-stability view’, in context of the risk shift and franchise value paradigms has lead to study the concept and relationship of competition and riskiness of banks in detail. In this respect, Martinez-Miera Repullo 2010 (MMR model) has even propagated the existence of a non-linear relationship between stability and competition. We test these hypotheses on a sample of Indian banks using measures for stability and riskiness of banks. The paper investigates the impact of bank competition and impact of bank concentration on stability, as well as on the riskiness of their loan portfolios .We find evidence for the presence of non-linear relationship between stability index and competition. It may be pointed out that in case of Indian banks, both concentration and competition work simultaneously to support the competition-fragility view. Both increased concentration and decreased competition may lead to greater riskiness with greater instability. The study suggests that it is important to understand the tradeoff between competition and concentration, and their impact on riskiness of loan portfolios and stability of banks for formulating steps to foster competition within the industry.
    Keywords: Risk, Competition,Financial stability,PRH statistic,MMR model
    JEL: G1 G18 G21 G28 M00
    Date: 2016–02–19
  18. By: Mercedes Campi; Marco Duenas; Matteo Barigozzi; Giorgio Fagiolo
    Abstract: This paper analyses whether the strengthening of intellectual property rights (IPRs) systems affects decisions of cross-border mergers and acquisitions (M&As), and whether their influence is different for developed and developing countries and across industrial sectors. We estimate an extended gravity model to study bilateral flows of M&As using data for the post-TRIPS period (1995-2010) and two different indexes that measure the strength of IPRs systems at the country level. We find that IPRs influence decisions of cross-border M&As and facilitate the creation of investment linkages. However, we detect a heterogeneous impact of IPRs on M&As depending on specificities of countries and sectors.
    Keywords: Intellectual Property Rights; Mergers and Acquisitions; Technological Intensity; Gravity Model
    Date: 2016–06–07
  19. By: Evangelia Leda Pateli
    Abstract: In this paper I investigate the relevance and explore the nature of import spillovers on the firms' decision to start importing using an exceptionally detailed data set on Swedish firms' imports, at the product-level and by source-country, spanning the period between 1997 and 2011. I study whether the presence of established importers located in the same area and/or operating in the same industry influences the import behavior of individual firms. The import side of trade has received relatively less attention in the literature and this tendency carries over to the study of spillovers that have mainly been researched from the exporters' perspective. There are however reasons to believe that import spillovers are indeed a relevant phenomenon. This paper bridges the gap in the literature and further contributes to the understanding of import spillovers by laying out a theoretical framework that formalizes the main forces at play. I develop a model for firms' import decisions featuring heterogeneous firms, product and country specific fixed costs of sourcing while additionally accommodating spillovers. To the best of my knowledge, this is one of only a handful of papers to study spillovers for import activities, and the first to provide theoretical insights for this mechanism.
    Keywords: importers, spillovers
    JEL: J R
    Date: 2016–06
  20. By: Evan Capeluck
    Abstract: The objective of this report is to examine the impact of public policy on Australia’s productivity performance and to discuss possible lessons for Canada from this experience. To do this, the report conducts a comprehensive analysis of the productivity performance of both countries, with particular interest in determining which underlying factors can explain Australia’s superior productivity growth in recent years. In addition, the report discusses the literature on the effects of public policy on Australian productivity performance since the 1990s.
    Keywords: Productivity, Capital, Labour, Multifactor Productivity, Productivity Growth, Human Capital, Innovation, Investment, Australia, Canada, Regulation
    JEL: D24 N17 N37 N47 N12 N32 N42
    Date: 2016–06
  21. By: Chen, Ping-ho; Chu, Angus C.; Chu, Hsun; Lai, Ching-Chong
    Abstract: In this note, we examine the effects of capital taxation on innovation and economic growth. We find that capital taxation has drastically different effects in the short run and in the long run. An increase in the capital income tax rate has both a consumption effect and a tax-shifting effect on the equilibrium growth rates of technology and output. In the long run, the tax-shifting effect dominates the consumption effect yielding an overall positive effect of capital taxation on steady-state economic growth. However, in the short run, the consumption effect becomes the dominant force causing an initial negative effect of capital taxation on the equilibrium growth rates. These contrasting effects of capital taxation at different time horizons may provide a plausible explanation for the mixed evidence in the empirical literature on capital taxation and economic growth.
    Keywords: Capital taxation; economic growth; R&D; transition dynamics
    JEL: H2 O3 O4
    Date: 2016–05
  22. By: Schubert, Torben; Baier, Elisabeth; Rammer, Christian
    Abstract: In this paper we analyze the conditions under which firms decide to offshore innovation. We consider the role of internal technological capabilities and technological dynamism in the firm environment, distinguishing speed and uncertainty of technological change. Using unique data from the German Innovation Survey we find that while high speed of technological change tends to drive innovation offshoring, high uncertainty about future technology developments results in more innovation offshoring only for firms with low internal technological capabilities. Firms with high technological capabilities instead are less likely to offshore innovation when uncertainty is high. We argue that these differences in offshoring behaviour reflect differing strategic objectives. We show that for firms with low technological capabilities asset augmentation is more important while for firms with high technological capabilities asset exploitation is more important. When faced by high technological uncertainty firms with low technological capabilities offshore innovation strategically in order to reduce uncertainty by augmenting their asset base. For firms with high technological capabilities asset augmentation is less important. When faced by high technological uncertainty they prefer to innovate onshore in order to keep stronger control of their key assets.
    JEL: O32 F21 F23 L22
    Date: 2016
  23. By: Germán Enrique Nova Caldas
    Abstract: El éxito en los mercados internacionales se sustenta en las acciones que se desarrollen para reforzar la innovación y la competitividad empresarial. Aunque este ha sido el énfasis que los distintos gobiernos de Colombia han dado a sus planes de desarrollo, hasta ahora los avances han sido poco significativos y hoy se sigue insistiendo en la importancia de fortalecer los ejes fundamentales: educación universal y de calidad; mejorar la infraestructura; diversificar las exportaciones; y, reducir la informalidad empresarial y laboral, entre otros. Este documento se divide en cuatro secciones: La internacionalización y la estrategia empresarial, consolida las teorías clasificándolas en los enfoques económico-institucional, administrativo y, Born Global; La economía colombiana en el contexto internacional, analiza la evolución de las exportaciones, la IED y el ICG; Dinámica empresarial colombiana, incluyendo los casos de Colombina S.A. y algunas PYMES de Medellín; y, Perspectivas y recomendaciones, presenta el nuevo régimen arancelario, para Colombia, adoptado en marzo de 2016 y recoge una reflexión sobre la importancia de diversificar las exportaciones.
    Keywords: internacionalización; competitividad; estrategia empresarial; acuerdos comerciales; y, ventajas competitivas.
    Date: 2016–07

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