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on Innovation |
| By: | Albahari, Alberto; Pérez-Canto, Salvador; Barge-Gil, Andrés; Modrego, Aurelia |
| Abstract: | Although the notion of Science and Technology Parks (STPs) has become fairly widespread, however, the level of university involvement in these parks differs hugely. At the extremes, there are parks that are owned and managed by universities, and parks with no formal links of any kind with a university. We use data from the Community Innovation Survey (CIS) for Spain and a survey of STP park managers to analyse how the level of involvement of a university in the STP affects the innovation outputs of its tenants and their links with universities. We find that higher involvement of a university in the STP negatively affects tenant’s innovation sales and positively affects the number of patent applications. We find no robust evidence of the involvement of a university in the propensity for park firms to cooperate with a university or to purchase external R&D services from the university. |
| Keywords: | Science Parks, Technology Parks, Innovation Policy, Academia-Industry links |
| JEL: | L2 O25 O3 R11 |
| Date: | 2013–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49227&r=ino |
| By: | Prokop, Jacek; Karbowski, Adam |
| Abstract: | The objective of this paper is to investigate the impact of R&D cooperation on cartel formation in the product market. The R&D investments that precede the production process are aimed at the reduction of the unit manufacturing costs, and could create positive externalities for the potential competitors. In contrast to the preceding literature, we assume that the competition between firms on the product market takes place according to the Stackelberg leadership model. For simplicity we focus on the case of duopoly. Numerical analysis shows that a closer cooperation at the R&D stage may strengthen the incentives to create a cartel in the product market. -- |
| Keywords: | R&D cooperation of firms,industry cartelization,Stackelberg competition |
| JEL: | O31 L41 L13 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201341&r=ino |
| By: | Enrico Moretti (Berkeley, USA; NBER, USA; CEPR, UK; IZA, Germany); Daniel J. Wilson (Federal Reserve Bank of San Francisco, USA; University of Michigan, USA) |
| Abstract: | We evaluate the effects of state-provided financial incentives for biotech companies, which are part of a growing trend of placed-based policies designed to spur innovation clusters. We estimate that the adoption of subsidies for biotech employers by a state raises the number of star biotech scientists in that state by about 15 percent over a three year period. A 10% decline in the user cost of capital induced by an increase in R&D tax incentives raises the number of stars by 22%. Most of the gains are due to the relocation of star scientist to adopting states, with limited effect on the productivity of incumbent scientists already in the state. The gains are concentrated among private sector inventors. We uncover little effect of subsidies on academic researchers, consistent with the fact that their incentives are unaffected. Our estimates indicate that the effect on overall employment in the biotech sector is of comparable magnitude to that on star scientists. Consistent with a model where workers are fairly mobile across states, we find limited effects on salaries in the industry. We uncover large effects on employment in the non-traded sector due to a sizable multiplier effect, with the largest impact on employment in construction and retail. Finally, we find mixed evidence of a displacement effect on states that are geographically close, or states that economically close as measured by migration flows. |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:rim:rimwps:42_13&r=ino |
| By: | Waters, James |
| Abstract: | We look at the effect of the US Sarbanes-Oxley (SOX) financial regulation on industrial innovation. Our theoretical framework shows it creating immediate uncertainty about its costs and future resolution of cost and managerial performance uncertainty. Real option value is created for investment delay. We construct a panel of patenting data and fit our model to it. We find a dip in patenting after SOX and subsequent medium term recovery, with larger dips for small, risky, and new companies. In the medium term, these companies continue to have relatively lower patenting. Like SOX, the dynamic behaviour is found only to apply to US companies. Our results have implications for policy and analysis. |
| Keywords: | Innovation; Patents; Sarbanes-Oxley; Regulation; Real options |
| JEL: | G32 G38 O31 O38 |
| Date: | 2013–08–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49173&r=ino |
| By: | David R. Gallagher (Macquarie Graduate School of Management); Katja Ignatieva (Australian School of Business, University of New South Wales); James McCulloch (Quantitative Finance Research Centre, University of Technology, Sydney) |
| Abstract: | This paper examines market concentration and stock returns on the Australian Securities Exchange. We find that dominant companies operating in concentrated industries in Australia are able to generate significant risk-adjusted excess stock returns and excess profits on sales (monopoly rents). Our results for Australian data are opposite to that found by Hou and Robinson (2006) for United States market data. Hou and Robinson reason that U.S. firms which operate in concentrated industries are insulated from competitive pressures, have lower levels of innovation (Arrow (1962)) and therefore experience lower profitability and stock returns. The high stock returns of dominant companies in Australia is consistent with Schumpeter?s (1942) theory of innovation where monopoly excess profits are necessary to fund corporate innovation. We hypothesize that the apparent contradiction of our results compared with Hou and Robinson (2006) for the United States market is resolved by an examination of the differences in size and competition in U.S. and Australian industries and the consequent differential ability of dominant companies in the two countries to generate monopoly rents. |
| Date: | 2013–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:uts:rpaper:334&r=ino |
| By: | Pierre-Alexandre Balland; Ron Boschma; Koen Frenken |
| Abstract: | Despite theoretical and empirical advances, the proximity framework has remained essentially static in that the given proximity between actors explains the extent to which they interact in knowledge networks and profit from such interactions. We propose a dynamic extension of the proximity framework of Boschma in which we account for co-evolutionary dynamics between knowledge networking and proximity. For each proximity dimension, we describe how proximities might increase over time as a result of past knowledge ties. We capture these dynamics through the processes of learning (cognitive proximity), integration (organizational proximity), decoupling (social proximity), institutionalization (institutional proximity), and agglomeration (geographical proximity). We end with discussing several avenues for future research on the dynamics of knowledge networking and proximity. |
| Keywords: | proximity, innovation, knowledge networks, proximity dynamics, geographical proximity |
| JEL: | R10 R11 B52 |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1314&r=ino |
| By: | KWON Hyeog Ug; Jungsoo PARK |
| Abstract: | This study empirically investigates the effect of foreign ownership on research and development (R&D) investment based on firm-level panel dataset for the period 2000-2008 taken from the <i>Basic Survey of Japanese Business Structure and Activities</i>. The results reveal the following. First, the "integration effect" on R&D is negative for domestic or foreign majority ownership. Second, although the "foreign ownership effect" controlling for integration effect is insignificant, it becomes positive only when the parent firm is located in a non-G7 country. Third, the negative integration effect is stronger for vertical integration than it is for horizontal integration. These findings have an important implication in that the globalization and integration of firms not only may affect the pattern of production process and the global supply chain, but also have important influence on the level of domestic R&D activities. |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:13071&r=ino |
| By: | Gregory, Terry; Patuelli, Roberto |
| Abstract: | Demographic change is expected to affect labour markets in very different ways on a regional scale. The objective of this paper is to explore the spatio-temporal patterns of recent distributional changes in the workers age structure, innovation output and skill composition for German regions by conducting an Exploratory Space-Time Data Analysis (ESTDA). Beside commonly used tools, we apply newly developed approaches which allow investigating the space-time dynamics of the spatial distributions. We include an analysis of the joint distributional dynamics of the patenting variable with the remaining interest variables. Overall, we find strong clustering tendencies for the demographic variables and innovation that constitute a great divide across German regions. The detected clusters partly evolve over time and suggest a demographic polarization trend among regions that may further reinforce the observed innovation divide in the future. -- |
| Keywords: | innovation,workforce age structure,exploratory space-time data analysis,regional disparities |
| JEL: | J11 O31 R11 R12 R23 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:13057&r=ino |
| By: | Jan Fagerberg (Centre for Technology, Innovation and Culture, University of Oslo); Maryann P. Feldman (Department of Public Policy, University of North Carolina); Martin Srholec (CERGE-EI, Economics Institute, Academy of Sciences of the Czech Republic) |
| Abstract: | This paper analyzes factors shaping technological capabilities in United States and European countries, and shows that the differences between the two continents in this respect are much smaller than commonly assumed. The analysis demonstrates a tendency towards convergence in technological capabilities for the sample as a whole between 1998 and 2008. The results indicate that social capabilities, such as well-developed public knowledge infrastructure, an egalitarian distribution of income, a participatory democracy and prevalence of public safety condition the growth of technological capabilities. Possible effects of other factors, such as agglomeration, urbanization, industrial specialization, migration and knowledge spillovers are also considered. The paper is a revised, updated and shortened version of working paper 20111114 in this series. |
| Keywords: | innovation, technological capability, social capability, Europe, United States |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:tik:inowpp:20130819&r=ino |
| By: | Sala, Emanuela; Knies, Gundi; Burton, Jonathan |
| Abstract: | When performing data linkage, survey respondents need to provide their informed consent. Since not all respondents agree to this request, the linked dataset will have fewer observations than the survey dataset alone and bias may be introduced. By focusing on the role that survey design features play in gaining respondents consent, this paper provides an innovative contribution to the studies in this field. Analysing experimental data collected in a nationally representative household panel survey of the British population, we find that interview features such as question format (dependent/independent questions) and placement of the consent question within the questionnaire have an impact on consent rates. |
| Date: | 2013–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ese:ukhlsp:2013-05&r=ino |