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on Innovation |
| By: | Salant, David J |
| Abstract: | This paper takes an axiomatic approach to determining “Fair, Reasonable, and Non-Discriminatory” (“FRAND”) royalties for intellectual property (“IP”) rights. Drawing on the extensive game theory literature on “surplus sharing/cost sharing” problems, I describe specific formulas for determining license fees that can be derived from basic fairness principles. In particular, I describe the Shapley Value, the Proportional Sharing Rule and the Nucleolus. The Proportional Sharing Rule has the advantage that it is the only rule that is invariant to mergers and splitting of the IP owners. I also explain why, at times, there may be no acceptable to solution. Further, I contrast these rules with the Efficient Component Pricing Rule (“ECPR”) suggested by Baumol and Swanson. Unlike, the ECPR, the rules identified in this paper can uniquely determine license fees when there is more than one owner of essential IP, and also incorporate various notions of fairness and equity. |
| Keywords: | FRAND; Royalty Rates; Intellectual Property |
| JEL: | O34 L24 |
| Date: | 2007–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8569&r=ino |
| By: | Gustavo Crespi; Chiara Criscuolo; Jonathan E. Haskel; Matthew Slaughter |
| Abstract: | This paper explores the role of knowledge flows and productivity growth by linking direct survey data on knowledge flows to firm-level data on TFP growth. Our data measure the information flows often considered important, especially by policy-makers, such as from within the firm and from suppliers, customers, and competitors. We examine (a) what are the empirically important sources of knowledge flows? (b) to what extent do such flows contribute to TFP growth? (c) do such flows constitute a spillover of free knowledge? (d) how do such flows correspond to suggested spillover sources, such as multinational or R&D presence? We find that: (a) the main sources of knowledge are competitors; suppliers; and plants that belong to the same business group ; (b) these three flows together account for about 50% of TFP growth; (c) the main "free" information flow spillover is from competitors; and (d) multinational presence contributes to this spillover. |
| JEL: | F23 O47 O57 |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:13959&r=ino |
| By: | Franz Tödtling; Patrick Lehner; Alexander Kaufmann |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwsre:sre-disc-2008_01&r=ino |
| By: | Alar Kolk (Institute of Strategy and International Business, Helsinki University of Technology); Kristi Püümann (School of Economics and Business Administration, Tallinn University of Technology) |
| Abstract: | Companies need to be innovative in terms of their business models and technologies to achieve superior performance. As market conditions require innovation to be open, firms develop dynamic capabilities to generate and realise such open strategies. Even though corporate growth in rapidly changing environment is related to opening up innovation as well as developing dynamic capabilities, there is a necessity for appropriate management of openness of innovation strategies as well as management of the dynamics of capabilities. Therefore this paper suggests that firms need to find a balance point between development of their organisational capabilities and openness of their innovation strategies. Co-development of firms´ dynamic capabilities together with Open Innovation Strategies enables firms to maximise their performance. |
| Keywords: | open innovation; open business model; innovation strategies; dynamic capabilities; corporate growth |
| JEL: | L29 O30 O31 O32 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:ttu:wpaper:173&r=ino |
| By: | Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This article provides evidence that shed further light on the dynamic relationships between finance, physical investment, R&D, productivity and profit. Estimating relationships for 5,289 observations on Swedish manufacturing firms with 50 or more employees over the 1992-2000 periods, the following substantial empirical findings emerge. First, physical investments are sensitive to both internal financing (profit) and external financing (expressed as leverage, or the ratio of debt over equity and debt) while R&D is only weakly affected by the firm’s finance conditions. Second, no robust correlation between knowledge investments and ordinary investments can be established. Third, R&D has a strong effect on productivity and profit. The reverse relationship is fragile and typically insignificant. The causality between physical capital and productivity is bidirectional, while increased profit leads to more capital but not the vice versa. |
| Keywords: | Financial constraints; R&D; Investments; Productivity; Panel data |
| JEL: | O31 O32 |
| Date: | 2008–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0128&r=ino |
| By: | Francesco VENTURINI (Universita' Politecnica delle Marche, Dipartimento di Economia) |
| Abstract: | To what extent are the productivity spillovers of information technology related;to R&D activity? Do these factors distinctly affect economic growth, or does the IT impact merely reflect the embodiment of R&D-driven technical progress? Based on country-level data, this work shows that both forms of technically advanced capital (R&D and IT) matter for long-run productivity growth. We control for either the domestic specialization in digital productions or import penetration of high-tech goods. In any case, the national endowment of IT assets emerges as a robust source of spillovers. It is also shown that the R&D base of the domestic producers of IT goods is a fundamental driver of productivity for the industrialized countries. In terms of TFP gains, a low degree of industry specialization in information technology can hardly be compensated by a country's trade openness, ie importing R&D-intensive (IT) goods from abroad. This contrasts to what occurs for less advanced productions. |
| Keywords: | Information Technology, Productivity, Research & Development, Spillovers, Trade |
| JEL: | E22 F43 O32 O47 |
| Date: | 2008–05 |
| URL: | http://d.repec.org/n?u=RePEc:anc:wpaper:321&r=ino |
| By: | Jaan Masso; Priit Vahter |
| Abstract: | There is growing interest in modelling the relationship between innovation and productivity in developing and transition econo¬mies due to their attempts to establish knowledge-based economies and to increase business R&D. Our paper investigates whether there is a signi¬ficant relationship between technological innovation and pro¬ductivity in the manufacturing sector of Estonia. We use firm-level data for the analysis from two waves of Community Innovation Surveys (CIS3 and CIS4) from 1998–2000 and 2002–2004, which is then combined with financial data about firms from the Estonian Business Register in order to study the effect of innovation at higher leads. We apply a structural model that in¬volves a system of equations on innovation expenditure, inno¬vation outcome and productivity. Our results show that during 1998–2000 only product innovation increased productivity, while in 2002–2004 only process innovation had a positive effect on productivity. This can probably be explained by the different macroeconomic conditions in the two periods. |
| Keywords: | productivity; innovation; Estonia |
| JEL: | O31 O33 C31 O10 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:mtk:febawb:61&r=ino |