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on Innovation |
| By: | Czarnitzki, Dirk; Hall, Bronwyn H.; Hottenrott, Hanna |
| Abstract: | Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for firms with limited internal resources. Previous literature provided evidence for start-up firms on the role of patents as signals to investors, in particular to Venture Capitalists. This study adds to previous insights by studying the effects of firms' patenting activity on the degree of financing constraints on R&D for a panel of established firms. The results show that patents do indeed attenuate financing constraints for small firms where information asymmetries may be particularly high and collateral value is low. Larger firms are not only less subject to financing constraints, but also do not seem to benefit from a patent quality signal. -- |
| Keywords: | Patents,Quality Signal,Research and Development,Financial Constraints,Innovation Policy |
| JEL: | O31 O32 O38 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:133&r=ino |
| By: | Otello Ardovino; Luca Pennacchio; Giuseppe Piroli |
| Abstract: | Firm innovation capacity depends not only on internal capabilities, but also on external expertise and knowledge acquired through cooperation. This paper analyzes direct and indirect effect of R&D cooperation on the innovation of Italian firms. Using a multivariate probit model to account for the complementarity of four different types of innovation activity and the heterogeneity in the choice of cooperation partners, we find strong and positive direct effects of collaborations with some non-competitive partners (suppliers, clients, private research institutes and consultants). Also R&D cooperation with competitors shows a relevant direct effect on firm innovation. On the contrary, collaborations with university have weaker effects; this could perhaps be due to the short-term perspective adopted in the study. These findings suggest that it is important to look at the specific type of R&D collaborations because they have a different impact on the success of innovative activities. On the other hand, indirect effects are scant and restricted to cooperation with some non-competitive partners. Such a result suggests that absorptive capacity of firms and R&D spillovers are quite weak in Italian context. Lastly, firm size and sector-specific features also affect innovation propensity. |
| Keywords: | R&D collaboration, absorptive capacity, moderating variable, innovation, equation probit model, community innovation survey. |
| JEL: | L13 O30 O32 |
| Date: | 2014–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:eei:rpaper:eeri_rp_2014_03&r=ino |
| By: | Ming Liu (Deptartment of Finance, Nankai University); Sumner La Croix (Department of Economics, University of Hawaii at Manoa) |
| Abstract: | We use dynamic panel data regressions to investigate whether the strength of a country’s patent protection for pharmaceuticals is associated with more pharmaceutical patenting by its residents and corporations in the United States. Using the Pharmaceutical Intellectual Property Protection (PIPP) Index to measure patent strength, we run dynamic probit and Poisson regressions on panels from 25 developing and 41 developed countries over the 1970-2004 period. Results vary, depending on whether we examine partial effects at the mean or average partial effects for the PIPP Index. APEs for the PIPP Index are positive but statistically insignificant in both developed and developing country samples. |
| Keywords: | Patent; pharmaceutical; innovation; TRIPS; intellectual property |
| JEL: | O1 O31 O34 |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:hai:wpaper:201407&r=ino |
| By: | Amani Elnasri (School of Economics, Australian School of Business, the University of New South Wales); Kevin J. Fox (School of Economics, Australian School of Business, the University of New South Wales) |
| Abstract: | This paper examines the impact of investment in research and innovation on Australian market sector productivity. While previous studies have largely focused on a narrow class of private sector intangible assets as a source of productivity gains, this paper shows that there is a broad range of other business sector intangible assets that can significantly affect productivity. Moreover, the paper pays special attention to the role played by public support for research and innovation in the economy. The empirical results suggest that there are significant spillovers to productivity from public sector R&D spending on research agencies and higher education. No evidence is found for productivity spillovers from indirect public support for the business enterprise sector, civil sector or defence R&D. These findings could have implications for government innovation policy as they provide insights into possible productivity gains from government funding reallocations. |
| Keywords: | Productivity, Innovation, Intangible assets, Public support |
| JEL: | O3 O4 H4 |
| Date: | 2014–01 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2014-08&r=ino |
| By: | Audretsch, David B.; Segarra Blasco, Agustí, 1958-; Teruel, Mercedes |
| Abstract: | This article aims to analyze the different impact that some factors may exert on the probability that a small young firm invests intensively in R&D. Recently, an increasing amount of the literature makes reference to the vital role played by a small number of young firms in generating jobs and increasing efficiency levels. However, not all new firms invest in R&D. Departing from the definition of YICs (firms younger than 6 years old, fewer than 250 employees and with more than 15% of their revenues invested in R&D activities), and with an extensive sample of the Spanish Community Innovation Survey between 2004- 2010, we try to determine: i) those factors that cause firms to become YICs (innovative young small firms) or YNICs (moderately innovative young small firms); ii) what is the difference in the impact of those factors between YICs and YNICs. Our results show that factors such as initial innovation capacity and cooperation in R&D projects enhance the probability of becoming a YIC. Nevertheless, factors such as export potential and market uncertainty may influence the decision to invest moderately and become a YNIC. Keywords: Innovation, Policy, YICs. JEL Classifications: O31, D21 |
| Keywords: | Empreses -- Innovacions tecnològiques, Innovacions tecnològiques -- Política governamental, Investigació, Conducta organitzacional, Empreses petites i mitjanes, Empreses -- Creació, 65 - Gestió i organització. Administració i direcció d'empreses. Publicitat. Relacions públiques. Mitjans de comunicació de masses, |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/225296&r=ino |
| By: | Iritié, B. G. Jean-Jacques |
| Abstract: | In this paper, we analyze the issues of innovation clusters-based industrial policy through the economic issues of three industrial dynamics, i. e. R and D (or innovation), location of innovation activities and technology cooperation. It appears that the key elements that justify these new policies are the production and sharing of knowledge, sharing of indivisibility and economic growth. Then, we focuse on the french poles of competitiveness. |
| Keywords: | Clusters, innovation, industrial location, technology cooperation |
| JEL: | O25 O30 R10 |
| Date: | 2014–03–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:54429&r=ino |
| By: | Brink, Siegrun; Kriwoluzky, Silke; Bijedic, Teita; Ettl, Kerstin; Welter, Friederike |
| Abstract: | Forschungsarbeiten stellen immer wieder fest, dass Frauen im Allgemeinen und Unternehmerinnen im Besonderen weniger innovativ sind als ihre männlichen Pendants. Häufig wird dies auch in Verbindung mit einer schwächeren Unternehmensentwicklung weiblich geführter Unternehmen gebracht. Die vorliegende Studie zeigt, dass dieser Einschätzung ein vornehmlich technologisch geprägtes Innovationsverständnis und die Fokussierung auf Brachen, die von vorneherein als innovativ betrachtet werden, zugrunde liegen. Individuelle (berufliche) Präferenzen und das vorherrschende Bild des männlichen Innovators führen jedoch dazu, dass Frauen weniger innovativ im klassischen, technologischen Sinne sind. Hinzu kommt, dass die institutionellen Rahmenbedingungen eine Teilzeitarbeit auch von selbstständigen Frauen begünstigen. Unternehmen, die in Teilzeit betrieben werden, verfügen jedoch in der Regel über geringere Ressourcen. Die Risiken, die mit einer Innovationstätigkeit verbunden sind, stellen deshalb eine größere Herausforderung dar. -- In innovation research, there is a wide-spread notion that women in general and women entrepreneurs in particular are less innovative than their male counterparts. This is often associated with a weaker performance of women-led firms. Our study shows that this notion is based on a limited definition and examination of innovation. In empirical research as well as in innovation funding programs, innovation is considered to be technologically based and to take place in certain, innovative sectors. Due to the perceptions of women's role in society, however, women are less prone to operate in these sectors and to engage in this specific type of innovation. Moreover, the institutional framework sets incentives for (salaried as well as self-employed women to work part-time. But a firm that is being operated on a part-time basis might miss the resources necessary to bear the risks of innovative activities. |
| Keywords: | Gender,FuE/Innovation,Gründungen/Selbstständigkeit/Entrepreneurship Education,Unternehmensführung/Unternehmensentwicklung,Gender,R&D/Innovation,Startup,Entrepreneurship,firm performance |
| JEL: | O31 M13 L26 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifmmat:228&r=ino |
| By: | Erika Raquel Badillo (Faculty of Economics, University of Barcelona); Rosina Moreno (Faculty of Economics, University of Barcelona) |
| Abstract: | We provide evidence on the dynamics in firms’ R&D cooperation behaviour. Our main objective is to analyse if R&D collaborative agreements are persistent at the firm level, and in such a case, to study what are the main drivers of this phenomenon. R&D cooperation activities at the firm level can be persistent due to true state dependence, this implying that cooperating in a given period enhances the probability of doing it in the subsequent period and it can also be a consequence of firms’ individual heterogeneity, so that certain firms have certain characteristics that make them more likely to carry out technological alliances. A second contribution of the paper deals with the differentiated persistence pattern of collaboration agreements for three different types of partners: customers and/or suppliers, competitors and institutions. We specifically explore the degree of the persistence in R&D collaborative activities when considering them separately as well as the possibility of finding crossed-persistence across these different partner types. |
| Keywords: | R&D cooperation; Persistence; Innovative Spanish firms; Technological partners. JEL classification: L24; O32; D22; C23 |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:201410&r=ino |
| By: | Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Nabavi , Pardis (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This paper provides estimates of negative binomial regressions for high-leveraged and non-high-leveraged exporting firms in Sweden over a business cycle that contains two boom periods and two recession periods. The contemporaneous cash flow coefficients are positive and statistically significantly associated with patent applications for non-high-equity firms in recession periods when all exporters are considered. No corresponding correlation is found among persistent exporters. Taking the firms’ geographical location into account, we find a significant difference in cash flow sensitivity between firms in metropolitan areas and firms located in other places. |
| Keywords: | Exporting; Innovation; Financing constraints; Firm level; Panel data |
| JEL: | C16 F14 G32 O31 |
| Date: | 2014–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0346&r=ino |
| By: | Basir, Nada (Schulich School of Business, York University.); Beyhaghi, Mehdi (College of Business, University of Texas at San Antonio); Mohammadi, Ali (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | Drawing on the reputation literature and signaling theory, this article builds on work that looks at patents as reputation signals. We build a multi-industry database of patents that expire due to lack of maintenance fee payments and test for a relationship between these patents and the firm’s IPO date. We find a significant and positive relationship between the likelihood of patents expiring due to lack of maintenance fee payments and the time to IPO. We also find that patents associated with firms which are not venture capital backed, are more likely to expire. Our findings suggest that patents that are used for signaling intentions are more likely to be underutilized. Implications for research and policy are discussed. |
| Keywords: | Patents; reputation signal; innovation; IPO; intellectual property |
| JEL: | O30 O34 |
| Date: | 2014–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0348&r=ino |
| By: | Riccardo Crescenzi |
| Abstract: | This paper looks at the recent economic geography literature and sets out to explore the evolution of its intersections with innovation theories. The replacement of the linear model with more sophisticated conceptualisations of the process of innovation has made it possible to account for persistent disparities in innovative performance across space and has motivated researchers to incorporate the role of space and places in the analysis of innovation processes. From the physical-metrical approach of geography as distance, to the emphasis on specialisation and diversification patterns (geography as economic place), institutional-relational factors, non-spatial proximities and 'integrated' frameworks, economic geography theory has substantially evolved in terms of its contribution to the understanding of technological dynamics with significant implications for the rationale, design and implementation of innovation policies. |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1408&r=ino |
| By: | Uwe Cantner (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Wolfgang Gerstlberger (University of Southern Denmark, Department of Marketing and Management); Ipsita Roy (Graduate College "The Economics of Innovative Change" (DFG-GK-1411), Friedrich Schiller University Jena, Department of Economics) |
| Abstract: | Building on the notion of general and specific human capital proposed by Becker (1962), the paper highlights the importance of employee training practices undertaken in firms as an important tool for human resource and knowledge management and focuses on the role of works councils as a specific form of employee representation system therein. Using establishment data on various aspects of training practices and innovation activities in Germany, the paper examines the degree, type and extent to which establishments invest in employee training and finds significant differences for firms with and without works councils. Specifically, findings suggest that works councils are related more with the provision of generalized training rather than in firm-specific technical training of employees. In addition, the paper finds strong support for using works councils as an instrument for a firm's total training activities that correlate with innovation, and weak support when we consider only generalized training and innovation. Finally, no significant relation is found between training practices and radical innovativeness of firms after accounting for reverse causality. |
| Keywords: | employee training practices, knowledge management, generalized training, firm-specific technical training, works councils, innovation, radical innovation |
| JEL: | J5 M53 O3 |
| Date: | 2014–03–10 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2014-006&r=ino |
| By: | Enrico Botta (IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy) |
| Abstract: | The purpose of this paper is to provide relevant insights to policy makers interested in developing a green innovative industry. In order to shed lights on the process of building a competitive green industry, the paper leverages the conceptual framework of innovation systems. Therefore, the first paragraph reviews the theory of innovation system, explaining the reason behind the choice to use a sectoral approach. The second paragraph exploits the industry life cycle perspective to describe the evolution of the wind turbine technology. Then, within the next two paragraphs the key constituting elements of the Chinese and Danish systems are described. Finally, building on our understanding of the evolution of the wind turbine technology and of the configuration of the two sectoral innovation systems, the differences and similarities between the two cases are discussed and the key conclusions from the perspective of a policy maker are presented. Our main argument is that the stage of technological evolution together with the maturity of the domestic sector is one of the main explanatory variables that allows to understand which functions (and how) should be activated by the policies aiming at developing a green SIS. |
| Keywords: | Sectoral innovation system, Green growth, Renewable energy, Wind turbines industry, Denmark, China |
| JEL: | O30 O25 Q48 |
| URL: | http://d.repec.org/n?u=RePEc:bcu:iefewp:iefewp53&r=ino |
| By: | Widad Guechtouli |
| Abstract: | The development of New Information and Communication Technologies (NICT) in particular brought considerable changes in the management of codified knowledge. Nevertheless, the management of such a capital quickly appears problematic. In fact, a great quantity of knowledge is not transmitted this way; it is rather diffused by means of social interactions. We focus here on communities of practice and wish to know what impact does the cognitive distance that may exist between different members of a community have on the process of knowledge creation. We use agent-based modelling and preliminary results show that the cognitive distance that may, or may not, exist between the different members of a community does not seem to have an impact on the process of knowledge creation. |
| Keywords: | innovation, knowledge, cognitive distance, agent-based simulations |
| Date: | 2014–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-149&r=ino |
| By: | Bodas Freitas , Isabel Maria; Geuna, Aldo; Lawson, Cornelia; Rossi, Federica (University of Turin) |
| Abstract: | We investigate under what circumstances firms (industry inventors) are more likely to engage in interactions where governance of the relationship is shared between the firm and the university, as opposed to interactions where the relationship is governed unilaterally by the firm. Using PIEMINV, an original dataset of European industry patents in the Italian region of Piedmont, we analyse the characteristics of inventors with diverse experience in projects involving interactions with universities, governed by institutional contracts or personal contracts. Our results suggest that reliance among inventors of the two forms of governance is almost equal, and that unilateral governance forms are preferred when there are high levels of trust among the parties based on embeddedness in local social and education networks. This is likely because it involves less cumbersome and more direct interactions. We find also that knowledge characteristics are not particularly important discriminants of the choice between governance forms: the advantage of shared governance seems to reside mainly in the possibility to mitigate monitoring and asymmetric information problems in contexts of relatively low levels of mutual knowledge and trust. |
| Date: | 2014–01 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:201402&r=ino |
| By: | Cassi, Lorenzo; Morrison, Andrea; Rabellotti, Roberta |
| Abstract: | International collaboration among researchers is a far from linear and straightforward process. Scientometric studies provide a good way of understanding why and how international research collaboration occurs and what are its costs and benefits. Our study investigates patterns of international scientific collaboration in a specific field: wine related research. We test a gravity model that accounts for geographical, cultural, commercial, technological, structural and institutional differences among a group of Old World (OW) and New World (NW) producers and consumers. Our findings confirm the problems imposed by geographical and technological distance on international research collaboration. Furthermore, they show that similarity in trade patterns has a positive impact on international scientific collaboration. We also find that international research collaboration is more likely among peers, in other words, among wine producing countries that belong to the same group, e.g. OW producers or newcomers to the wine industry. |
| Keywords: | Proximity, International scientific collaboration, Wine industry, Gravity model, Scientometrics, Emerging countries, Community/Rural/Urban Development, Industrial Organization, |
| Date: | 2014–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aawewp:164649&r=ino |