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on Economics of Strategic Management |
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Issue of 2019‒01‒28
thirteen papers chosen by João José de Matos Ferreira Universidade da Beira Interior |
| By: | Pompei, Fabrizio; Damiani, Mirella; Andrea, Ricci |
| Abstract: | This article analyses how Italian family firms (FFs) have acted during the global great crisis in comparison to their nonfamily counterparts using a sample of almost 4500 firms for 2007 and 2010. We study whether family control affects labor productivity, labor costs, and competitiveness and how family and nonfamily firm (NFFs) have responded to the great crisis. Furthermore, we test whether the adoption of performance-related pay (PRP) for employees offers an efficacious strategy to mitigate the effects of the crisis. Quantile regression techniques have been used to test the heterogeneous role of PRP, and its possible endogeneity has been taken into account in the empirical investigation. After the outbreak of the crisis, the distance in terms of the competitiveness of FFs in relation to their nonfamily counterparts increased. However, we also find that FFs may take advantage of the adoption of incentive schemes, such as PRP, to encourage commitment and motivation from their employees more than NFFs do. The positive role of PRP on labor productivity, coupled with a moderate influence of these schemes on wage premiums, enables them to regain competitiveness. In addition, for FFs located in industrial districts in which social rules prevail on formal rules, the adoption of PRP has exerted additional positive effects under hostile pressures, such as those characterizing the strong global crisis. |
| Keywords: | Family firms, performance-related pay, quantile regressions, productivity |
| JEL: | D24 G32 J33 |
| Date: | 2018–12–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:91301&r=all |
| By: | Johannes Eugster; Giang Ho; Florence Jaumotte; Roberto Piazza |
| Abstract: | How important is foreign knowledge for domestic innovation outcomes? How is this relation shaped by globalization and the attendant intensification of international competition? Our empirical approach extends the previous literature by analyzing a large panel comprising industries in both advanced and emerging economies over the past two decades. We find that barriers to the domestic diffusion of foreign knowledge have fallen significantly for emerging economies. For all countries, and especially for emerging economies, inflows of foreign knowledge have a growing and quantitatively important impact on domestic innovation. Controlling for the amount of domestic R&D, we find evidence that increases in international competitive pressure at the industry level had a positive effect on domestic innovation outcomes |
| Date: | 2018–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:18/269&r=all |
| By: | Emanuele Brancati; Raffaele Brancati; Dario Guarascio; Andrea Maresca; Manuel Romagnoli; Antonello Zanfei |
| Abstract: | This paper provides an in-depth study on the main firm-level drivers of external competitiveness during the recent crisis in Italy. We contribute to the debate on the Italian international position by presenting evidence based on a unique sample survey database (the MET dataset). Overall, our results confirm the high degree of heterogeneity of the Italian corporate sector and the well-known differences between internationalised and domestic companies in terms of performance as well as structure and behaviour. In particular, the data highlight not only the correlation between internationalisation and innovative activities but also a positive change of attitude of Italian firms towards these strategies. Our analysis shows that, whilst structural factors play a key role for external competitiveness (size, location, industry, etc.), other critical firm-level aspects, especially those related to strategic profiles, technological capabilities, and ‘proactive’ behaviour, trigger superior performances. To this extent, our policy suggestions focus on the need to sustain and foster innovative activities to improve aggregate competitiveness. |
| JEL: | F14 L25 O31 O33 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:euf:dispap:087&r=all |
| By: | M. Grazzi; C. Piccardo; C. Vergari |
| Abstract: | This work investigates the relationship between proxies of innovation activities, such as patents and trademarks, and firm performance in terms of revenues and growth. By resorting to the virtual universe of Italian manufacturing firms we provide a rather complete picture of the innovation activities of Italian firms, in terms of patents and trademarks, and we study whether the two instruments for protecting Intellectual Property (IP) exhibit complementarity or substitutability. In addition, and to our knowledge novel, we propose a measure of concordance (or proximity) between the patents and trademarks owned by the same firm and we then investigate whether such concordance appears to exert any effect on performance. |
| JEL: | O31 O34 L25 |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1127&r=all |
| By: | Stephan Gerschewski (Henley Business School, University of Reading); Yong Kyu Lew (Hankuk University of Foreign Studies, College of Business, South Korea); Zaheer Khan (University of Kent, Kent Business School, UK); Byung Il Park (Hankuk University of Foreign Studies, College of Business,South Korea) |
| Abstract: | This paper investigates the role of learning orientation in the post-entry performance of international new ventures (INVs) by examining the relationships of niche strategy, network resources, and learning orientation with the multi-dimensional post-entry performance of INVs. Based on the INV internationalisation literature, we develop and validate a conceptual model using a sample of 147 INVs from two relatively small and open economies from New Zealand and Australia. The results show that learning orientation of INVs positively mediates the relationship between niche orientation and network resources and INVs’ post-entry performance. Our study indicates that learning orientation may be an important capability through which INVs’ focused international business strategies and resources (e.g., niche orientation and network resources) may influence their multi-dimensional post-entry performance in terms of operational, financial and overall effectiveness measures. We draw key implications for research on INVs’ post-entry behaviour by explicating the role played by the firms’ learning capabilities, and how these capabilities may interact with their strategies and resources in enhancing the post-entry performance of INVs. |
| Keywords: | international new venture, learning orientation, niche orientation, network resources, post-entry performance |
| JEL: | M16 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:rdg:jhdxdp:jhd-dp2018-06&r=all |
| By: | Fritsch, Michael; Piontek, Matthias; Titze, Mirko |
| Abstract: | The value of social network analysis is critically dependent on the comprehensive and reliable identification of actors and their relationships. We compare regional knowledge networks based on different types of data sources, namely, co-patents, co-publications, and publicly subsidised collaborative Research and Development projects. Moreover, by combining these three data sources, we construct a multilayer network that provides a comprehensive picture of intraregional interactions. By comparing the networks based on the data sources, we address the problems of coverage and selection bias. We observe that using only one data source leads to a severe underestimation of regional knowledge interactions, especially those of private sector firms and independent researchers. The key role of universities that connect many regional actors is identified in all three types of data. |
| Keywords: | knowledge interactions,social network analysis,regional innovation systems,data sources |
| JEL: | O30 R12 R30 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhdps:12019&r=all |
| By: | Alberto Mendez-Morales (Universidad Militar Nueva Granada); Carlos Yanes-Guerra (Universidad Militar Nueva Granada) |
| Abstract: | This research shows the effect that financial markets development has on R and D private investment of OECD countries. The main porpoise of this research is to help policy makers to generate effective policies to spur innovation, especially in underdeveloped countries. Data used on this research comes from World Bank and Unesco for the period 2000-2016. Used methodology is a dynamic panel data in which macroeconomic, financial, innovation and structural variables are included. It was found that stock markets development is positively related with private expenditure on R and D, but bond markets are negatively related with it. Simultaneously, low inflation and stable exchange rates are positively related with R and D. This is a novel research given that we show that an effective innovation policy for private firms, should be accompanied of policies aimed to deepening financial markets as a way to spur investments on R and D. |
| Keywords: | Financial systems, stock markets, credit markets, R and D, innovation |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:smo:jpaper:02am&r=all |
| By: | Thomas Fackler; Yvonne Giesing; Nadzeya Laurentsyeva |
| Abstract: | Does the emigration of skilled individuals necessarily result in losses for source countries due to the brain drain? Combining industry-level patenting and migration data from 32 European countries, we show that emigration in fact positively contributes to innovation in source countries. We use changes in the labour mobility legislation within Europe as exogenous variation to establish causality. By analysing patent citation data, we further provide evidence that these positive effects are driven by knowledge flows that are triggered by emigrants. While skilled migrants are not inventing in their home country anymore, they contribute to cross-border knowledge and technology diffusion and thus help less advanced countries to catch up to the technology frontier. |
| Keywords: | migration, innovation, knowledge spillovers, patent citations, EU enlargement |
| JEL: | F22 J61 O33 O31 O52 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7420&r=all |
| By: | Damiani, Mirella; Pompei, Fabrizio; Ricci, Andrea |
| Abstract: | Insufficient attention has been paid to the different roles of wage incentives in the competitiveness of family and non-family firms. This paper addresses this issue and uses a sample of listed and non-listed Italian firms for 2007 and 2010 to show that family firms that adopt incentive wages obtain greater gains in competitiveness with respect to non-family firms. Unlike what occurs in non-family firms, the efficiency enhancing effect of incentive wages more than compensates for the premiums paid to employees and enables family firms to achieve significant gains in terms of competitiveness. |
| Keywords: | Family firms Performance-related pay Labour productivity Wages Competitiveness |
| JEL: | D24 G32 J33 |
| Date: | 2018–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:91303&r=all |
| By: | Roberto Galbiati (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Emeric Henry (ECON - Département d'économie - Sciences Po); Nicolas Jacquemet (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In situations where social payoffs are not aligned with private incentives, enforcement with fines can be a way to sustain cooperation. In this paper we show, by the means of a lab experiment , that past fines can have an effect on current behavior even when no longer in force. We document two mechanisms: a) past fines affect directly individuals' future propensity to cooperate; b) when fines for non cooperation are in place in the past, individuals experience higher levels of cooperation from partners and, consistent with indirect reciprocity motives, are in turn nicer towards others once these fines have been removed. This second mechanism is empirically prevalent and, in contrast with the first, induces a snowball effect of past enforcement. Our results can inform the design of costly enforcement policies. |
| Keywords: | experiments,Laws,social values,cooperation,learning,spillovers,persistence of institutions,repeated games |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-01971468&r=all |
| By: | Zanfrillo, Alicia Inés |
| Abstract: | The contagion of innovations originates in small groups of pioneers that influence a larger group known as imitators, developing a channel of great influence on the next ones interested in the incorporation of a product or service. In the emerging Argentine market the adoption of technologies is explained by the imitation effect rather than by a few precursors. The advantage of knowing the potential market for a new technology allows the definition of policies that facilitate its propagation in the target groups. The purpose of the work is to model the behavior of Mar del Plata cooperative sector in the access to internet resources in order to promote the dissemination of these technologies on the market potential. From the marketing perspective, a quantitative research of a descriptive type with techniques of secondary source analysis is undertaken to obtain, with the mathematical formulation of Bass (1968), the parameters of the speed of adoption of the presence of internet. Subsequently, an agent-based approach was used to simulate the incorporation into the Information Society considering: a) the dynamic nature of the potential market given the permeability to the life cycle of these entities and b) the presence of complementary products such as social media. The resulting adoption curve resembles the original one in a slow penetration of the market, constituting a challenge to promote its inclusion in the new economy. |
| Keywords: | Internet; Difusión de Innovaciones; Cooperativas; |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:3021&r=all |
| By: | Stefania, Cardinaleschi; Mirella, Damiani; Fabrizio, Pompei |
| Abstract: | The main contribution of this study is showing that the efficiency effects of collective performance-related pay (CPRP) are more pronounced in knowledge-intensive service sectors (KISs) than in other sectors. The hypothesis is that human resource practices such as CPRP are particularly useful for enhancing firm performance when innovation-supporting knowledge is distributed among multiple skill sets and employee creativity, knowledge creation and knowledge sharing are key success factors for the firm. Cross-sectional estimates obtained for a national sample of approximately 3,800 Italian firms confirm this prediction. These results are validated by adopting a treatment effect approach to solve the self-selection problem. |
| Keywords: | Collective bargaining, performance-related pay, firm performance |
| JEL: | D23 J33 |
| Date: | 2018–12–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:91302&r=all |
| By: | Simplice A. Asongu (Yaoundé/Cameroon); Voxi H. S. Amavilah (REEPS, Arizona, USA); Antonio R. Andres (Ostrava, Czech Republic) |
| Abstract: | This paper develops a framework (a) to examine whether or not the African business environment hinders or promotes the knowledge economy (KE), (b) to determine how the KE affects economic performance, and (c) how economic performance relates to the inequality-adjusted human socioeconomic development (IHDI) of 53 African countries during the 1996-2010 time period. We estimate the linkages with three related equations. The results support a strong correlation between the dynamics of starting and doing business and variations in KE. The results also show that there exists a weak link between KE and economic performance. Nonetheless, KE-influenced performance plays a more important role in socioeconomic development than some of the conventional control variables like foreign direct investment (FDI), foreign aid, and even private investment. |
| Keywords: | Business Dynamics; Knowledge Economy; Economic Performance |
| JEL: | L59 O10 O30 O20 O55 |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:19/004&r=all |