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on Economics of Strategic Management |
| By: | Ernest Liu; Song Ma |
| Abstract: | We study the optimal allocation of R&D resources in an endogenous growth model with an innovation network, through which one sector’s past innovations may benefit other sectors’ future innovations. First, we provide closed-form sufficient statistics for the optimal path of R&D resource allocation, and we show that planners valuing long-term growth should allocate more R&D toward key sectors that are upstream in the innovation network. Second, we extend to an open-economy setting and illustrate an incentive for countries to free-ride on fundamental technologies: an economy more reliant on foreign knowledge spillovers has less incentive to direct resources toward innovation-upstream sectors, leading to cross-country differences in unilaterally optimal R&D allocations across sectors. Third, we build the global innovation network based on over 30 million global patents and establish its empirical importance for knowledge spillovers. Fourth, we apply the model to evaluate R&D allocations across countries and time. Adopting optimal R&D allocations can generate substantial welfare improvements across the globe. For the United States, R&D misallocation accounts for about 0.68 percentage points of missing annual growth since the 2000s. |
| JEL: | F43 O33 O38 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29607&r= |
| By: | Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This paper surveys theoretical and empirical literature on non-pecuniary flow of knowledge and the conditions and limitations for firms to benefit from positive externalities. Spillovers from the pool of accumulated knowledge generated by technological and scientific development is considered to be a key factor for economic development in modern growth models. Knowledge spillovers has also been a major topic of empirical research on firms’ innovation and economic performance over the last thirty years or more. By exploiting theoretical and methodological advances, and using more comprehensive, complex and detailed data sources, scholars from various scientific disciplines have improved the identification of factors, mechanisms, and channels that influence flows of knowledge within and across industries, technological regimes and regions. This research has deepened the understanding of the economic importance of knowledge spillovers. |
| Keywords: | externalities; innovation; knowledge spillovers; productivity; technology |
| JEL: | L20 M13 O31 O33 O40 |
| Date: | 2022–01–03 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0489&r= |
| By: | Hadjira Chigara (UMBB - Université M'Hamed Bougara Boumerdes) |
| Abstract: | As an attempt to investigate the impact between resources and firm competitiveness, we operationalized a theoretical framework of the resource-based view theory along with its impact on competitiveness and empirically tested the three hypotheses derived from it. The framework links together resources which are physical capital resources (physical, technological, plant and equipment), human capital resources (training, experience, insights), and organizational capital resources (formal structure) and SME competitiveness. The results of the empirical study, involving a sample of 431 managers of SMEs, provided evidence for the direct contributions of the resources owed by the company and its contribution and impact in affecting competitiveness. This initial success, with the validated survey instrument of the importance of resources owed by the SME, may serve as the ground for further research in this area. |
| Keywords: | Algerian SME.,Competitiveness,Resource-Based view |
| Date: | 2021–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03453864&r= |
| By: | Ubaldo Spina; Ramón Compañó (European Commission - JRC) |
| Abstract: | This report provides an ecosystem analysis of cultural and creative industry (CCI) sector with regard to the adoption of new technologies and as case studies additive manufacturing and advanced materials as these two technologies are becoming consolidated in prototyping and manufacturing in many industrial sectors, but are still in their infancy in the CCI. The introduction of these two technologies, however, is the base of emerging new business models as showcased by a number of promising startups. We identified 430 CCI-startups in Europe that operate innovative products or services and that were further analysed via an online survey to which 83 companies participated. In addition, we discuss the role innovation ecosystems for the CCI development in Europe taking four ecosystems as example, namely the ‘Finnish Additive Manufacturing Ecosystem’ in Helsinki, the ‘Design Farm’ in Berlin, the ‘Sustainable and Tech Fashion’ hub in Amsterdam and “Portuguese footwear cluster” in the northern region of Portugal. Our study shows that green and digital transformations make additive manufacturing and advanced materials technologies quite worth looking into for CCI firms. The survey demonstrates a high degree of business dynamism of those companies that have fully embraced additive manufacturing and advanced materials as their operational basis. Furthermore we show that an effective ecosystem are key for deploying novel technologies to the sector, mostly composed by small and very small enterprises. |
| Keywords: | cultural and creative industries, additive manufacturing, 3D printing, materials, startups, business models,innovation |
| JEL: | O32 O31 O25 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc126884&r= |
| By: | Ali, Amjad; Alim, Wajid; Ahmed, Jawad; Nisar, Sabahat |
| Abstract: | The objective of this exploration is to show the relationships among corporate governance tools (Board size, board independence, CEO status, Board Education, and Established Years of the firm) and firm performance which is determined by Return on Asset (ROA). Quantitative data is used to discover the association between the variables. The top seventy-five companies registered on the Pakistan Stock Exchange involving the period from 2010 to 2019 are taken as a sample. The research found that there is a connection between the performance of the firm with the overall extent of directors, board independence, and average education of board representatives. Insignificant results came for CEO duality and established years of the firm. The result predicted that an increase in total board members and average education of board members will increase firm performance (ROA) whereas a reduction in board independence will reduce firm performance (ROA) which explains the importance of corporate governance for the success of firm performance. Unlike previous studies, this study tried to find a long-term influence of corporate governance on firm performance by analyzing five different variables for the listed firms of Pakistan. The study provides the importance of corporate governance tools and their effectiveness for the success of organizations, especially in Pakistan. |
| Keywords: | Corporate Governance; Firm Performance; Pakistan; ROA; CEO Duality; Board Size; Board Independence; Board Education |
| JEL: | G3 G30 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111299&r= |
| By: | Miglo, Anton |
| Abstract: | This article analyzes crowdfunding campaigns of technology firms in England. We compare the predictions of crowdfunding theories with empirical evidence. We are particularly focused on factors of campaign success related to indirect signalling (such as the choice of campaign target) by founders that have mixed evidence in existing research as opposed to direct signalling (eg. the number of updates by founders). We have found that the campaign target has U-shape effect on success of campaign. For example, the probability of success increases if the threshold value is neither very small or significantly large. This is consistent with the spirit of some theoretical research on crowdfunding. We also provide an overview of literature related to informational problems in crowdfunding, highlight gaps and controversial areas and provide some suggestions for future research. |
| Keywords: | crowdfunding, reward-based crowdfunding, crowdfunding in technology sector, digital entrepreneurship, information asymmetry, signalling, factors of crowdfunding success, campaign target |
| JEL: | G32 M21 O33 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111349&r= |