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on Innovation |
| By: | Marie-Laure Allain (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X); Emeric Henry (Sciences Po - Department of Economics); Margaret Kyle (TSE - Toulouse School of Economics - Toulouse School of Economics) |
| Abstract: | The sale of ideas (e.g. through licensing) facilitates vertical specialization and the division of labor between research and development. This specialization can improve the overall efficiency of the innovative process. However, these gains depend on the timing of the sale: the buyer of an idea should assume development at the stage at which he has an efficiency advantage. We show that in an environment with asymmetric information about the value of the idea and where this asymmetry decreases as the product is developed, the seller of the idea may delay the sale to the more efficient firm, thus incurring higher development costs. We obtain a condition for the equilibrium timing of the sale and examine how factors such as the intensity of competition between potential buyers influence it. Empirical analysis of licensing contracts signed between firms in the pharmaceutical industry supports our theoretical predictions. |
| Keywords: | Innovation, Licensing, Market structure, Bargaining, Pharmaceuticals, Biotechnology. |
| Date: | 2011–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00639128&r=ino |
| By: | Francis Bloch (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X); Simona Fabrizi (Massey University - SIERC); Steffen Lippert (University of Otago - Department of Economics) |
| Abstract: | This paper analyzes an entry timing game with uncertain entry costs. Two firms receive costless signals about the cost of a new project and decide when to invest. We characterize the equilibrium of the investment timing game with private and public signals. We show that competition leads the two firms to invest too early and analyze collusion schemes whereby one firm prevents the other firm from entering the market. We show that, in the efficient collusion scheme, the active firm must transfer a large part of the surplus to the inactive firm in order to limit preemption. |
| Keywords: | Learning; Preemption; Innovation; New Markets; Project Selection; Entry Costs; Collusion; Private Information; Market Uncertainty |
| Date: | 2011–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00639049&r=ino |
| By: | Laura Diaconu |
| Abstract: | At the beginning of the XXIst century, the importance of innovation is brought in light mainly due to the huge differences that exist between the living standard of the richest and of the poorest nations, differences that could be partly explained through the fact that the most advanced countries pay a greater attention to the intensive side of economic activity. The purpose of this paper is to determine the way in which innovation actually influences the economic growth and the prosperity of a country. Being known that between the stock of human and social capital, on one side, and the innovation, on the other side, there is a strong positive correlation, we will try to identify the possibilities that developing economies have to foster the innovation. The relationship between human capital and innovation will be analyzed in order to see how it could be optimized so that to obtain the best results on both micro and macroeconomic level. The example of China, whose fast development astonished the world, will serve as a model in reaching out our purposes. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p391&r=ino |
| By: | Olivier Babeau (DRM - Dauphine Recherches en Management - CNRS : UMR7088 - Université Paris Dauphine - Paris IX); Jean-François Chanlat (DRM - Dauphine Recherches en Management - CNRS : UMR7088 - Université Paris Dauphine - Paris IX) |
| Abstract: | Rappelant l'intérêt pour les sciences de gestion de s'ouvrir aux apports des autres disciplines, cet article propose de montrer de quelle façon les travaux du sociologue Norbert Alter fournissent des apports déterminants pour notre compréhension du fonctionnement de l'organisation, en particulier en ce qui concerne les phénomènes intimement liés d'innovation et de transgression. Les travaux en sociologie de l'innovation de cet auteur établissent avec force le constat, les formes et enfin les enjeux particuliers des pratiques transgressives habituelles en entreprise. Nous proposons la synthèse de ces travaux en montrant ensuite leurs apports spécifiques aux sciences de gestion ainsi que leurs prolongements envisageables. |
| Keywords: | Transgression; innovation |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00641100&r=ino |
| By: | Mariasole Bannò; Marika Vezzoli; Maurizio Carpita |
| Abstract: | Innovation virtuously impacts on the degree of international growth, which in turn positively influences innovation activities and then firms�™ performance (Filipescu et al., 2009). Many authors have tried to identify and explain the relationship between these two phenomena at firm level. Only recently, few empirical studies investigate them at a more aggregate level (see e.g. Mariotti et al., 2008). Moreover the literature focuses only on one direction of causality, while scant attention has been paid to inspect empirically innovation and internationalization together (Kafouros et al., 2008; Filippetti et al., 2009; Frenz and Ietto-Gillies, 2007). This paper provides an empirical analysis of the mutual relationship of these two phenomena, taking into account various features of the regions themselves. The empirical study is conducted on data concerning 20 Italian regions covering the period 2000-2008. To better understand the complex relationship between internationalization and innovation, we refer to the Structural Equation Models (SEM). These are multivariate regression type models, in which response variables could in turn act as dependent and predictor within a system of equations, and all variables are assumed to influence one-another reciprocally, either directly or through other variables as intermediaries (Bollen, 1989; McAdam et al., 2010). Through the SEM the relationships are expressed by a set of parameters which explain the magnitude of the effect (direct or indirect) between independent (either observed or latent) and dependent variables. Indeed, internationalization and innovation could act as both dependent and predictor which measurement could be difficult then suggesting the use of latent variables, and where the system of indicators is complex enough to lead at a model specified through two-way relations intrinsically connected. Using SEM approach we are able to specify flexible models dealing with non-standard relations stylized along panel data structure, in which spatial and temporal dimensions do matter |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p195&r=ino |
| By: | Mariasole Bannò; Celeste Amorim Varum; Valentina Morandi |
| Abstract: | This paper investigates empirically determinants of regional growth. The scant literature that exists indicates that a region’s economic growth depends to a large extent on several features of the regions themselves, which evolve slowly over time. Our results contribute to this set of literature, accounting also for policy variables, which have been by far neglected. Indeed, due to numerous market failures, measures to promote innovation and internationalization have been prominent in government policies in the last decade. This follows because, there is a consensus among academics, policy makers and practitioners that innovation and internationalization has become increasingly important for the growth of regions and countries. The effect of such ad hoc policy measures by home governments to promote innovation and internationalization has scarcely been studied, and existing studies addressing this issue have mainly a national focus. Despite the clear theoretical justification for the public support, policy makers ask for robust empirical evidence on these matters. This paper contributes to this end. The novelty of the study is in the emphasis on the impact of public policy tools (for innovation and internationalization), and on the coordination between them, upon regional growth. The study is conducted for the 20 Italian regions over the period 1998 to 2008. It tests not only the importance of regional characteristics but also the effects of public policy measures upon the regional economic growth. We focus in specific in the role of innovation and internationalization policy related measures. The results reveal the importance of regional characteristics and also of policy measures. The empirical findings are in line with the theoretical hypotheses: public incentives are key for promoting growth, and they have to be seen in the broader context of the determinants of regional growth. The paper also derives conclusions regarding the interrelationship between policies for innovation and for internationalization. Moreover, the allocation of incentives does not seem to help counterbalance the regional asymmetry, and the global processes and challenges are likely to strengthen the gap between regions. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p457&r=ino |
| By: | Jose Polo; Néstor Duch; Martà Parellada |
| Abstract: | In this paper we empirically analyze the effects of collaboration in innovation with universities on the firm’s innovative performance. Using data from the Technological Innovation Panel dataset (PITEC for its acronym in Spanish) we have constructed a database of 4643 innovative firms in Spain, where we estimate the impact of different types of collaborative partnerships on the increments on firm’s range and quality of products, and on the improvements of the firm’s production capacity and flexibility. The estimation from an ordered logit model shows that firms collaborating actively with universities, as well as, firms that use universities as their principal source of information are more prone to have product and process additionalities, while subcontracting specific R&D activities to universities do not seem to affect the firm’s innovative performance. A sensitive analysis shows that firms belonging to manufacturing sectors benefit more from the collaboration with universities than firms from services sectors. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p671&r=ino |
| By: | Roberta Capello; Camilla Lenzi |
| Abstract: | This paper investigates over the way in which regions innovate. The conceptual framework departs from the simple idea that scientific activities equates knowledge, assuming that the presence of local knowledge produced by research centers, universities and firms was a necessary and sufficient condition for increasing the innovative capacities in local firms, fed by local spillovers. In particular, the paradigmatic jump in interpreting regional innovation processes lies in a conceptual framework interpreting not a single phase of the innovation process, but the different modes of performing the different phases of the innovation process, highlighting the context conditions (internal and external to the region) that accompany each innovation pattern. The paper conceptually identifies different territorial patterns of innovation, and empirically test their existence in Europe. Interesting results emerge from the European territory, witnessing the existence of large differences in the territorial patterns of innovation. These results strongly support normative suggestions towards thematically/regionally focused innovation policies. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p1900&r=ino |
| By: | Helena Santos-Rodrigues; Pedro Figueroa; Carlos Maria Jardon |
| Abstract: | The intellectual capital is increasingly considered a major issue on the management and organization research and a source of competitive advantage. Although there are different models and approaches that try to identify the effect of intellectual capital on firm performance, there’s, also a lack of evidence and consensus. Based on that evidence, this paper focuses on the influence of the structural capital on the product- process and management innovativeness of the firm. A global model including the variables used in the previous literature is used and we establishes hypotheses for testing this model and use statistic technique to estimate the parameters of the model in a sample. To do so, we use a survey from 68 firms working on the auto components sector, established in the Northern Spain and Northern Portugal. We found firstly, that innovativeness has two main dimensions, perfectly differentiated, the product-process innovation and the management innovation; secondly that the structural capital dimensions influences differently each type of innovation capacity (innovativeness). We also concluded that the structural capital of the automotive firms based on the euro region Galicia (Spain) Northern Portugal influences positive and directly the management innovativeness. These results highlight the importance of the structural capital as well as highlight the main dimensions that influence the innovativeness, and more broadly, the value of intellectual capital as a competitive advantage in contemporary time. Moreover, point out the different character of product-process and management innovativeness. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p1386&r=ino |
| By: | Fabio Manca; Giuseppe Piroli |
| Abstract: | The aim of the paper is to test the Benhabib and Spiegel (2005) productivity (TFP) catch-up framework on European regions. Differences in the stock of human capital across regions are hypothesized to be the cause of differences in the speed by which follower regions converge and catch-up with the technology frontier. We find robust empirical evidence for this hypothesis. Also, we find evidence of complementarities between R&D expenditures and human capital accumulation for which R&D impacts TFP growth as long as a critical mass for the stock of human capital is reached. The results are robust to sectoral disaggregations and to the choice of a country or sectoral specific leader in the TFP gap computation and to control for spatial dependence across European regions. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p816&r=ino |
| By: | Gunther Maier; Michaela Trippl |
| Abstract: | This paper seeks to enhance our understanding about the opportunities and limits of new path creation in traditional regional innovation systems. Due to their inherited historical legacies, such systems are usually thought of being ill-equipped to give rise to high-tech or knowledge intensive activities. Departing from recent insights on research concerned with the transformation of innovation systems and evolutionary economic geography we identify in a conceptual way enabling and constraining factors for the rise of new development paths in traditional regions. Empirically, we focus on the case of the “Software Park Hagenberg†(SPH) located in the old industrial region of Upper Austria. We examine key events triggering the emergence and subsequent evolution of the SPH and explore the role of the RIS in shaping the development trajectory of the SPH. Moreover, applying social network analysis tools, we investigate the pattern of networking between firms, research organisations and educational bodies within the SPH and we provide some evidence on the diffusion of knowledge and innovation generated though these interactions throughout the regional economy. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p1830&r=ino |
| By: | Emanuele Fabbri; Luciana Lazzeretti |
| Abstract: | Recently at the European level the theme of innovation has been further fostered with the Smart Specialization Strategy underlined within the COM(2010) 553 “Regional policy contributing to smart growth in Europe 2020â€. The aim of this study is to investigate the co-evolutive dynamics of the technological transfer processes at regional level, and in particular the issue of transversality and bases of knowledge between networks according to an evolutionary perspective. Transversality is analysed considering networks’ differences and proximities in terms of industry of application, applied technology, and local dimensions of relationships. In order to analyze these phenomena, we apply the Social Network Analysis to investigate the structural features of the space of relations and relational flows, and to roles and attributes of the universe of the co-funded actors. The structural analysis of the relations’ system (centrality, closeness, betweenness, local dimension) has been analyzed across five regional initiatives, studying over 150 networks and over 1300 co-funded actors. Relations between and within networks have been normalized and the role of specific agents has been underlined with regards to transversality dynamics. As conclusion, policy implications can be drawn, in particular as far as supply-led and demand-led innovation policy. The study is structured as follows. After the introduction describing the context of regional innovation policies over the last Regional Planning period (SPD 2000-2006), the first paragraph describes the main characteristics of the concept of transversality, with connections to RIS model and innovation networks. The second paragraph describes the Social Networks Analysis methodology used to study the evolutionary process of agglomeration with regards to bases of knowledge and transversality. The third paragraph deals with the results of the analysis and the fourth paragraph presents conclusive remarks on policy implication in terms of industrial policies. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p507&r=ino |
| By: | Manuel Lopez-Estornell; Ignacio Fernández de Lucio |
| Abstract: | ABSTRACT The first aim of the paper is to analyze the presence of knowledge in innovative firms located in industrial districts (ID) in order to contrast it with this kind of firm located in non industrial districts areas (NID). This approach assumes the presence of an industrial district effect, i.e., the presumption of a better performance of knowledge and economic results in the first group of firms. Second, we have attempted to identify the existence of interdistrict effect, i.e., the emergence of gaps in knowledge of innovative firms located in ID with different technological intensity. For both purposes we have chosen the Valencian ID in Spain. Besides, with the introduction of innovative firms as units of analysis we have assumed that: a) They reflect a superior use of knowledge resources as inputs for business innovation generation and b) Their greatest use of such resources facilitate the absorption of knowledge spillovers that flow through the district. The empirical analysis has used an unprecedented database containing information of 5,553 innovative companies we have found in the region. The mean analysis applied has allowed us to identify the variables with statistically significant differences, as a preliminary step to isolate the groups of firms with more pronounced central values. The results have shown the presence of differences characterizing differently innovative companies of ID and NID as well as the groups of innovative firms belonging to districts of different technological level. In the first case the superiority of innovative companies has not arisen and, consequently, we cannot confirm the existence of a district effect. Nevertheless, we have detected some evidence of inter-industrial effect in the gradation performance of innovation firms of shoes, textiles and tales. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p361&r=ino |