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on Economics of Strategic Management |
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Issue of 2020‒12‒14
eight papers chosen by João José de Matos Ferreira Universidade da Beira Interior |
| By: | Age Mariussen (University of Vaasa); Fatime Barbara Hegyi (Joint Research Centre) |
| Abstract: | In the past years, the European Commission launched three thematic Smart Specialisation platforms to support interregional collaborations and to support European Union regions committed to co-invest jointly in strategic growth areas. The bottom up component in this process has resulted in a wide variety of industry-scientific partnerships at regional and transnational levels. These networks include regions, which are very different in terms of innovation ecosystems, but nevertheless connected through shared thematic focus enabling transnational processes of innovation. This paper explains how interregional partnerships build on the efforts and results achieved in national and regional research and innovation strategies for Smart Specialisation and how, as a result of this, new European innovation ecosystems are emerging. With reference to existing literature and experiences so far, the paper outlines a conceptual framework of how transnational cooperation may strengthen regional place-based development strategies and improve regional innovation capabilities. Key analytical concepts are proximity, knowledge complexity, entrepreneurial discovery processes, stakeholder analysis and cluster emergence. |
| Keywords: | proximity, knowledge complexity, entrepreneurial discovery processes, stakeholder analysis, cluster emergence, smart specialisation, industrial modernisation, place-based strategies |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc122247&r=all |
| By: | Behrens, Vanessa; Trunschke, Markus |
| Abstract: | In this paper we explore the relationship between innovative firms that patent technology related to Industry 4.0 and their economic performance. By applying the new patent cartography developed by the EPO that identifies firm's 4.0 patents, this is one of the first large-scale, systematic studies on the impact of 4.0 technologies. Since 4.0 patents are more likely to be general purpose technologies, firms with 4.0 patents should be in a better position to increase their sales as 4.0 technology has on average a wider industrial applicability. Results of our Fixed Effects Least Squares regressions and Dynamic Panel Model suggest that 4.0 patent stock is positively associated to sales and that this effect is significantly larger than the effect of Non-4.0 patent stock. These effects are found to be decreasing with firm size. |
| Keywords: | Industry 4.0,Patents,Firm Performance,Sales Growth |
| JEL: | L25 O14 O33 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:20070&r=all |
| By: | Wittenstein, Daniel |
| Abstract: | Hidden Champions (HCs) are small- and medium-sized global market leaders that repeatedly show superior innovation capabilities and economic performance. However, empirical evidence on how the digital transformation may affect their success story remains scarce. I argue that HCs show stronger dynamic capabilities which enables them to be better prepared for the digital transformation than non-HCs firms. To test this hypothesis, I use data from the Mannheim Innovation Panel. This allows me to identify a representative set of German HCs and develop a firm digital readiness index, reflecting the use of important digital technologies and applications. An instrumental variable estimation suggests that higher levels of digital readiness lead to an increase in share of revenue from innovations and productivity. In combination with higher average digital readiness levels of HCs compared to non-HCs, my findings indicate that HCs may indeed be better prepared for the digital transformation. |
| Keywords: | hidden champions,digital transformation,digital readiness,digital preparedness,performance effects,innovation,dynamic capabilities,instrumental variable estimation |
| JEL: | L60 L19 M19 O32 O33 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:20065&r=all |
| By: | Jing Chen (Central China Normal University) |
| Abstract: | Conventional wisdom indicates that economic specialization can promote growth, whereas economic stability is associated with diversified economies. This conflicting relationship between specialization and diversity has been questioned, as regional scientists have suggested that specialization and diversity can coexist in a regional economy and proposed the concept of diversified specializations. To test this proposition empirically, two Herfindahl–Hirschman Indices were used to examine the relationship between economic diversity and economic performance among 359 metropolitan statistical areas in the contiguous United States. The first index measures industry diversity across 87 three-digit North American Industry Classification Systems sectors, and the second index quantifies cluster diversity among 51 economic specializations. This analysis confirms that cluster diversity contributes to both stability and growth, and regions can simultaneously pursue both high and stable economic growth. |
| Keywords: | Specialization, Diversity, Economic Structure, Regional Economic Development |
| Date: | 2019–12–17 |
| URL: | http://d.repec.org/n?u=RePEc:rri:wpaper:2019rp03&r=all |
| By: | Wicaksono, Hendro |
| Abstract: | The presentation gives an overview of best practice collaborations of higher education and industry in Germany. It then describes different research organization and their roles in the German research landscape. Finally, the presentation shows some project examples in the area of artificial intelligence and data management which are funded by German and EU research agencies and involve collaboration between universities, research organizations, industrial companies, and municipalities. |
| Date: | 2020–11–19 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:jfszw&r=all |
| By: | Sanghyun Hong (University of Canterbury); W. Robert Reed (University of Canterbury); Bifei Tian; Tingting Wu; Gen Chen |
| Abstract: | Researchers have long identified both FDI and entrepreneurship as potentially important determinants of economic development. Accordingly, a literature has grown to investigate whether FDI stimulates entrepreneurial activity in host countries. It is difficult to synthesize these empirical findings because many of the studies use different definitions of FDI and entrepreneurship, study different time periods and countries, and apply different estimation procedures to generate their results. In order to better understand this literature, we collect 728 estimates from 52 studies that estimate the relationship between FDI and entrepreneurial activity using country-level data. We use meta-analysis to address two questions: (1) What is the overall, mean effect of FDI on entrepreneurship?, and (2) What factors account for differences in estimated effects across studies? An innovation of our study is that it develops a nested testing framework to select among a number of competing meta-analytic models. It also extends the new Andrews-Kasy meta-analytic estimators to allow for explanatory variables. We find that the overall, mean effect of FDI on entrepreneurial activity is close to zero and statistically insignificant. While FDI and entrepreneurial activity may each play an important role in economic development, our results indicate that FDI does not generally stimulate entrepreneurship. This suggests that public policy efforts to encourage entrepreneurship through FDI are unlikely to be successful. All the files necessary to reproduce the results in this paper are available online at Harvard Dataverse. |
| Keywords: | Meta-analysis, FDI, Entrepreneurship |
| JEL: | L26 F21 C10 |
| Date: | 2020–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:cbt:econwp:20/20&r=all |
| By: | Timothy DeStefano; Richard Kneller; Jonathan Timmis |
| Abstract: | Cloud computing enables a shift in the costs of ICT adoption from investment in fixed capital to pay-on-demand services allowing firms to scale and reorganize. Using new firm-level data we examine the impact of cloud on firm growth, using zip-code-level instruments of the timing of high-speed fiber availability and speeds. Cloud leads to the growth of employment and revenue for young firms, but they become concentrated in fewer establishments. For incumbents, we find smaller scale effects but dispersed activity through closing establishments and moving employment farther from the headquarters. Moreover, cloud adoption leads to worker relocation across establishments within firms. |
| Keywords: | firm growth; the cloud; ICT use; employment; productivity |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:not:notgep:2020-02&r=all |
| By: | Mattia Guerini (Université Côte d'Azur, CNRS, GREDEG, France; Sant'Anna School of Advanced Studies; Sciences Po., OFCE); Philipp Harting (Bielefeld University); Mauro Napoletano (OFCE Sciences-Po; SKEMA Business School) |
| Abstract: | We develop a model to study the impact of corporate governance on firm investment decisions and industry competition. In the model, governance structure affects the distribution of shares among short- and long-term oriented investors, the robustness of the management regarding possible stockholder interference, and the managerial remuneration scheme. A bargaining process between firm's stakeholders determines the optimal allocation of financial resources between real investments in R&D and financial investments in shares buybacks. We characterize the relation between corporate governance and firm's optimal investment strategy and we study how different governance structures shape technical progress and the degree of competition over the industrial life cycle. Numerical simulations of a calibrated set-up of the model show that pooling together industries characterized by heterogeneous governance structures generate the well-documented inverted-U shaped relation between competition and innovation. |
| Keywords: | Governance structure, industry dynamics, competition, technical change |
| JEL: | G34 L22 M12 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2020-49&r=all |