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on Economics of Strategic Management |
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Issue of 2023‒02‒06
seven papers chosen by João José de Matos Ferreira Universidade da Beira Interior |
| By: | Caliendo, Marco (University of Potsdam); Kritikos, Alexander S. (DIW Berlin); Rodriguez, Daniel (University of Potsdam); Stier, Claudia (University of Potsdam) |
| Abstract: | Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1, 405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growthoriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators. |
| Keywords: | entrepreneurship, firm performance, general self-efficacy, survival, job creation, innovation |
| JEL: | L26 M13 D91 |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15848&r=cse |
| By: | Matthias Huegel (Friedrich Schiller University Jena, Department of Economics); Philip Doerr (Friedrich Schiller University Jena, Department of Economics); Martin Kalthaus (Friedrich Schiller University Jena, Department of Economics) |
| Abstract: | The transfer of knowledge and technology from academia to industry is usually understood as a process. While previous research focuses on phenomena along the process and its outcomes, the starting point of the process – the initiation of a transfer activity – remains unstudied. We provide first empirical insights on the initiation of the transfer process and conceptualize this initiation as a simultaneous recognition of a transfer opportunity and the choice of a transfer channel. We focus on Science-Industry collaboration, Intellectual Property Rights and spin-off creation as relevant channels. We use survey data from 1, 149 scientists from the German state of Thuringia and utilize seemingly unrelated regressions to account for selection and multiple channel choices in our econometric approach. Our results show a positive relationship between scientists’ probability to recognize a transfer opportunity and different kinds of prior knowledge. Contrary to our expectation, scientific quality reduces the likelihood of recognizing a transfer opportunity. For the choice of the transfer channel, the results show a positive relationship between choosing the spin-off channel and risk willingness, as well as basic research. Applied research increases the likelihood to choose Intellectual Property Rights as a channel. Furthermore, role models are positively associated with these two channels. |
| Keywords: | Transfer Process, Transfer Initiation, Opportunity Recognition, Transfer Channel, Science-Industry Collaboration, Intellectual Property Right, Academic Spin-off |
| JEL: | L26 O31 O33 O34 |
| Date: | 2023–01–18 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2023-002&r=cse |
| By: | Erik Hornung (University of Cologne); Julius Koschnick (London School of Economics); Francesco Cinnirella (University of Bergamo) |
| Abstract: | Sustained technological progress was at the heart of the Industrial Revolution. This column argues that access to knowledge was crucial for innovation and technological diffusion during this period. Inventors and entrepreneurs needed access to useful knowledge to generate new ideas and continue innovating. Such access was provided by the ‘economic societies’ – associations of individuals interested in improving the local economy. These societies became drivers of knowledge diffusion and innovation. |
| Date: | 2022–12 |
| URL: | http://d.repec.org/n?u=RePEc:ajk:ajkpbs:041&r=cse |
| By: | Shim, Woo Jung (Korea Institute for Industrial Economics and Trade); Kim, Jongki (Korea Institute for Industrial Economics and Trade) |
| Abstract: | The accelerated pace at which digital transformation is unfolding across various sectors of Korean society is exerting a profound impact on the overall structure of Korean industries and the Korean economy as well, with the rise of the contactless and stay-at-home economies, the growth of digital services, and the increasing emphasis on health and hygiene. Governments worldwide have established policy measures facilitating digital transformation, and major companies worldwide are leading digital transformation in global industries. Digital transformation (DX) serves a number of business objectives, including enhancing competitiveness in response to changes in market demand and industrial structures, facilitating the research and development (R&D) of new products and services (as well as differentiating and innovating existing ones), enhancing cost-competitiveness, and strengthening productivity. Much of the DX phenomenon occurs spontaneously in response to the growing use of artificial intelligence (AI) technologies, smart manufacturing, metaverse systems and platforms, online services, and digital platforms across industries. In Korea, however, there is a general lack of awareness of and preparation for digital transformation, with much of the DX that has occurred still in its early stages. DX has yet to produce results to the extent and depth desired by businesses. Relative to their global competitors, Korean companies’ capabilities for DX also fall short. The current situation of digital transformation in Korea attests to the importance of effective policy measures that foster the use of DX and digital innovations by companies. Most importantly, infrastructure needs to be developed to provide small and medium-sized enterprises (SMEs) with digital technologies and platforms. Policy measures promoting DX should also reflect the characteristics, current issues, and changing trends of different industries. The four types of industries examined in this study (IT manufacturing, non-IT manufacturing, IT services, and non-IT services) show different levels of progress with DX in line with the different conditions and characteristics they have as industries. Policymakers and businesses alike ought to consider these differences in devising their DX strategies. |
| Keywords: | Korean Economy; Digital Services; Digital Platforms; Digital Innovation |
| JEL: | O25 O38 |
| Date: | 2022–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kietrp:2022_004&r=cse |
| By: | KATO Masatoshi; Nicolas LEGENDRE; YOSHIDA Hiroki |
| Abstract: | This study examines venture capital (VC) backing among new firms in Japan, exploring how the determinants and effects of VC backing vary depending on the VC investor type. We estimate the determinants of VC backing and find that new firms receiving investments from independent VCs tend to be larger, younger, and more innovative than non-VC-backed firms. However, the factors affecting investments from corporate, finance-affiliated, and government-funded VCs significantly differ from those affecting independent VCs. To explore the effect of VC backing, we construct a matched sample using propensity score matching. Furthermore, we estimate the average treatment effect of receiving VC investments to clarify whether new VC-backed firms achieve superior growth and innovation performance. The results indicate that investments from independent VC firms enhance the performance of new firms. However, we find no significant effect on new firm performance for other VC investor types. |
| Date: | 2022–12 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:22117&r=cse |
| By: | Vartuhi Tonoyan; Christopher Boudreaux |
| Abstract: | Despite recent evidence linking gender diversity in the firm with firm innovativeness, we know little about the underlying mechanisms. Building on and extending the Upper Echelon and entrepreneurship literature, we address two lingering questions: why and how does gender diversity in firm ownership affect firm innovativeness? We use survey data collected from 7, 848 owner-managers of SMEs across 29 emerging markets to test our hypotheses. Our findings demonstrate that firms with higher gender diversity in ownership are more likely to invest in R&D and rely upon a breadth of external capital, with such differentials explaining sizeable proportions of the higher likelihood of overall firm innovativeness, product and process, as well as organizational and marketing innovations exhibited by their firms. Our findings are robust to corrections for alternative measurement of focal variables, sensitivity to outliers and subsamples, and endogenous self-selection concerns. |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2301.01127&r=cse |
| By: | Luca Fontanelli; Mattia Guerini; Mauro Napoletano (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po) |
| Abstract: | We build a simple dynamic model to study the effects of technological learning, market selection and international competition in the determination of export flows and market shares. The model features two countries populated by firms with heterogeneous productivity levels and sales. Market selection in each country is driven by a finite pairwise Pólya urn process. We show that market selection leads either to a national or to an international monopoly in presence of a static distribution of firm productivity levels. We then incorporate firm learning and entry-exit in the model and we show that the market structure does not converge to a monopoly. In addition, we show that the extended model is able to jointly reproduce a wide ensemble of stylized facts concerning intra-industry trade, industry and firm dynamics. |
| Keywords: | firm dynamics, market selection, Pólya urn, international trade, industrial dynamics |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:spmain:hal-03370650&r=cse |