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on Innovation |
| By: | Polder, Michael; Leeuwen, George van; Mohnen, Pierre; Raymond, Wladimir |
| Abstract: | Many empirical studies have confirmed the positive impact of innovation on productivity at the firm level. The focus tends to be either on R&D driven techno-logical innovation on the one hand, or on organisational changes complemented by ICT on the other. To investigate the effect of different types of innovations on produc-tivity, we propose a model with two innovation input equations (R&D and ICT) that feed into a knowledge production function consisting of a system of three innovation output equations (product innovation, process innovation and organisational innova-tion), which ultimately feeds into a productivity equation. We find that ICT is an im-portant driver of innovation in both manufacturing and services. Doing more R&D has a positive effect on product innovation in manufacturing. Organisational innova-tion has the strongest productivity effects. We only find positive effects of product and process innovation when combined with an organisational innovation. |
| Keywords: | technological innovation; non-technological innovation; ICT; R&D; productivity; trivariate probit; CDM model; |
| JEL: | O30 D24 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:18893&r=ino |
| By: | László Halpern; Balázs Muraközy |
| Abstract: | This paper estimates the relationship between innovation and firm performance by using Community Innovation Survey data for Hungary. It exploits the possibility of linking the innovation data to ownership and disaggregated trade data. Innovative firms are more productive, more likely to trade and export into more countries. Foreign firms are more likely to innovate compared to similar domestic firms, but the amount of R&D is a weaker predictor of the innovative output of foreign firms. |
| Date: | 2009–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:cfg:cfigwp:10&r=ino |
| By: | Bratti , Massimiliano; Felice, Giulia |
| Abstract: | Past research showed that exporters perform better than non-exporters in several domains, micro-level empirical evidence on the innovation-enhancing effect of export is, however, very scant. In this paper, we analyze the relationship between a firm's export status and its product innovation activity by using a rich firm-level survey on Italian manufacturing. First, we find that the positive effect of exporting on product innovativeness is robust to controlling for many sources of firm's observable heterogeneity and to allowing export activity to be endogenous. Second, we report evidence that the effect of exporting on product innovation is likely to be demand-driven, that is to originate from the interaction between domestic firms and foreign customers. |
| Keywords: | Exporting; Firms; Italy; Manufacturing; Product Innovation |
| JEL: | F1 O31 |
| Date: | 2009–11–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:18915&r=ino |
| By: | Walter G. Park; Peter Hingley |
| Abstract: | At the European Patent Office (EPO) a comprehensive data file called PRI is maintained of patent families. The file records are based on published patent documents, indexed by the priority number of the first patent filing, with information on subsequent patenting activities for that invention in the four major economic blocs: EPC contracting states, Japan, USA and Others. It is possible to filter the data in order to highlight the most important inventions, for example by selecting Trilateral patent families that lead to patenting activity in EPC contracting states (including EPO), Japan and USA. The relationship between patent families and subsequent filings is not one-to-one. In order to compare calculated figures from the EPO data set with an alternative system of consolidated families, it is suggested that bounds may be calculable for numbers of consolidated families by taking account of the overall numbers of network links between priority forming first filings and subsequent filings. The key to this methodology is the identification of all the links between first filings and subsequent filings in a family. There is a timeliness problem caused by a considerable delay between the date of first filing and the appearance of a publication that can index a patent family. A method is described by which more up-to-date counts of families (numbers of priorities) can be made by augmenting the database with information that is available in the distinct filings databases at the patent offices. The families data set can be used to investigate the patenting behaviour by individual companies, industries, countries or economic blocs, or to study changing patterns of technology in world-wide industrial research. Some representative data are presented over a series of years that show increasing trends for the numbers of world-wide first filings, for numbers of filings flowing from one country to another, for numbers of patent families making use of the PCT system, and for the numbers of families within the EPC contracting states area that make use of the EPO. Good forecasts for numbers of patent filings at the EPO are needed for the purpose of internal resource requirements planning. An initial attempt is described to set up an econometric model for the development of subsequent filings at the EPO, based on patent families information and on concomitant variables including source country R&D stock per worker and source country GDP per capita. It may eventually be possible to generalise a successful model of this type in order to predict filings flows to and from all the major patent offices. |
| Date: | 2009–07 |
| URL: | http://d.repec.org/n?u=RePEc:amu:wpaper:2009-08&r=ino |
| By: | Ralph M. Sonenshine |
| Abstract: | This study examines the pattern of abnormal returns for merging companies and rivals to determine investor expectations regarding the impact of horizontal mergers challenged by the government. Prior studies have indicated that the government may have challenged efficiency-enhancing mergers as evidenced by the pattern of abnormal returns to rivals during merger events. This study examines those patterns using challenged mergers from 1997 to 2007, and it adds to the literature by assessing the effect that R&D intensity and change in HHI have on the returns to rivals and merging firms. The paper finds that the pattern of abnormal returns is a result of the different effects that antitrust complaints and merger outcomes have on rivals based on R&D intensity and change in industry concentration. This finding suggests that the government may have been properly vigilant in challenging mergers over the past 10 years in basic industries that have high levels of market concentration. However, it also may have allowed collusive mergers to proceed in R and D intensive industries. |
| Keywords: | mergers, Research and Development, Strategic Protection, market concentration, event study |
| Date: | 2009–08 |
| URL: | http://d.repec.org/n?u=RePEc:amu:wpaper:2009-16&r=ino |
| By: | V. V. Chari; Mikhail Golosov; Aleh Tsyvinski |
| Date: | 2009–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:cla:levarc:814577000000000398&r=ino |
| By: | Ralph M. Sonenshine |
| Abstract: | It is well documented that acquirers often pay a very large premium to acquire companies in related industries. There are many explanations as to the source of this premium. This study isolates two variables, R and D-intensity and market concentration, and correlates their value individually and jointly to the value of the acquired company. The results indicate that change in market concentration and Research and Development is positively correlated to the merger deal premium in a horizontal merger. Furthermore, deal premiums tend to follow an inverted U curve pattern relative to market concentration change. The study also shows that cost synergies and macro economic growth impact deal premium values. |
| Keywords: | mergers, Research and Development, market concentration, deal premium |
| Date: | 2009–08 |
| URL: | http://d.repec.org/n?u=RePEc:amu:wpaper:2009-12&r=ino |
| By: | Caminati, Mauro |
| Abstract: | This paper suggests a knowledge based approach to the formation of collaboration networks in basic research. Though mainly focused on foundations, it provides the example of a knowledge distribution supporting pairwise equilibrium outcomes which correspond to a star-like collaboration network. |
| Keywords: | ideas; knowledge endowment; modularity; collaboration game; pairwise equilibrium; star network. |
| JEL: | O30 D85 |
| Date: | 2009–11–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:18864&r=ino |