|
on Innovation |
| By: | Signore, Simone; Torfs, Wouter |
| Abstract: | The creation of value through innovation is among the defining traits of new technology-driven ventures. In this paper we contribute to the literature by investigating the value of innovations for start-ups supported by EIF in the years 1996 to 2014, as measured through patent applications. The paper is structured around two main parts. The first part presents a series of descriptive statistics on EIF's VC investee patent portfolio and discusses some of the strategic aspects of patenting, such as timing and geographical coverage. The second part develops an econometric model to estimate the Euro-value of innovations based on patent renewal data, following the seminal work of Pakes and Schankerman (1984). We observe that start-ups are efficient at transforming financial capital obtained through VC financing into innovative capital. On average, for every Euro of EIF-supported VC financing, start-ups generated 2.74 Euro of private innovation value. |
| Keywords: | EIF,venture capital,innovation,patents,renewal data,start-ups |
| JEL: | G24 M13 O32 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201745&r=ino |
| By: | Fernanda Mazzotta (Università di Salerno); Ornella Wanda Maietta (Università di Napoli Federico II and CSEF) |
| Abstract: | The aim of this paper is to explore the differential effect of innovation on firm survival. We consider the effect of product, process and organisational innovations controlling for the role of the knowledge context and of firm absorptive capacity. At the end of the 1990s, an ad hoc survey was performed on a representative sample of manufacturing firms located in a NUTS3 area of southern Italy, and information on firm survival has been collected for 15 years. A multivariate endogenous probit model is applied to simultaneously analyse the determinants of innovation and of subsequent firm survival. Our estimates confirm that process innovation is a determinant of firm survival followed by product innovation, whereas evidence of a more novel type suggests that organisational innovation plays only a weak role. Entrepreneurial general and specific human capital exerts no direct beneficial effect on firm duration. The requirement of proper technological knowledge from the local university has been the driver of firm duration with the highest marginal effect. |
| Keywords: | Firm survival, Information network, Human capital, Italian SMEs |
| JEL: | L20 O3 D22 I2 |
| Date: | 2017–04–02 |
| URL: | http://d.repec.org/n?u=RePEc:sef:csefwp:496&r=ino |
| By: | Ufuk Akcigit (University of Chicago) |
| Abstract: | We assess the role of import tariffs and R&D subsidies as policy responses to foreign technological competition. To this end, we build a general equilibrium growth model embedding a Ricardian framework of trade where firm innovation shapes endogenously the dynamics of technology and market leadership in a world with countries at differ- ent stages of development. Knowledge spillovers and decreasing returns to knowledge accumulation drive cross-country technological convergence. Firms’ R&D decisions are driven by the size of the market, the effort to escape competitive pressures, domestic and international business stealing, and technology spillovers. A calibrated version of the model reproduces the foreign technological catch-up the U.S. experienced by the 1970s and early 1980s. Accounting for transitional dynamics, we show that foreign technolog- ical acceleration hurts the U.S. welfare in the short and medium run through business stealing, but generates long-run benefits via higher quality of imported goods and higher domestic innovation in the U.S. induced by escape-competition effect. The model suggests that the introduction of Research and Experimentation Tax Credit in 1981 proves to be an effective policy response to foreign competition, generating substantial welfare gains. A counterfactual exercise shows that increasing trade barriers as an alternative policy re- sponse produces gains only in the very short run, leading to large losses in the medium and long run. Protectionist measures generate large dynamic losses from trade, distort- ing the impact of openness on innovation incentives and productivity growth. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed017:1627&r=ino |
| By: | Teruel, Mercedes; Segarra Blasco, Agustí, 1958- |
| Abstract: | Previous results show that gender diversity increases the probability that firms invest in R&D and engage in innovation. This paper explores the relationship between gender diversity of R&D departments and their capacity to patent. Based on the Spanish Community Innovation Survey between 2004 and 2014, we apply a two-step procedure in order to control for endogeneity. Although gender diversity affects OEPM patents negatively, its impact is non-significant for patents with international coverage (EPO, USPTO, or PCT). A relevant result is the fact that the generation of patents is positively affected by the diversity of categories in the R&D labs. Our results highlight that, gender diversity of R&D teams does not play a relevant impact on the capacity of the firm to register patents. However, the diversity according to the professional role in R&D teams exerts a positive influence. In sum, the key question is not the gender diversity per se but the gender diversity jointly with the professional status. JEL Code: O30, O31, J16. Keywords: gender diversity, patent generation |
| Keywords: | Innovacions tecnològiques -- Direcció i administració, Patents d'invenció, Programes d'acció positiva -- Espanya, 33 - Economia, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/307040&r=ino |
| By: | Caroline Mothe (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Uyen Nguyen-Thi (LISER - Luxembourg Institute of Socio-Economic Research); Angela Triguero-Cano (Department of International Economics - University of Castilla-La Mancha) |
| Abstract: | Although the antecedents of environmental innovation and open innovation strategies have been well studied separately, the relationship between a firm's openness and environmental technological innovation still remains an interesting topic to research, especially in terms of the various modes of openness on the one hand and the product–process distinction on the other. This study relies on data from the French Community Innovation Survey to differentiate the association of three dimensions of open inbound innovation search strategies—acquiring, sharing, and information sourcing—with environmental product (ecoproduct) and process (ecoprocess) innovations. Inbound innovation, attained through the acquisition of machinery, equipment, and software, is more likely to be associated with ecoprocess than ecoproduct innovations; external R&D only drives ecoproducts. Inbound sharing through R&D cooperation seems associated with the introduction of both ecoproducts and ecoprocesses. For inbound innovation sourcing, external market sources of information are positively associated with firms' involvement in all types of environmental innovation. |
| Keywords: | R&D cooperation,Sourcing,R&D acquisition,Environmental innovation,Inbound innovation |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01701063&r=ino |
| By: | Coll Martínez, Eva |
| Abstract: | In recent years creativity has gained importance because of its potential to generate economic growth based on their role in the innovation processes and economic development. In this regard, this work is twofold. First, it addresses the mechanisms through which creativity promotes knowledge externalities and innovation contributing to regional economic growth and competitiveness. And second, it aims to analyse the role of creativity, diversity and innovation on entrepreneurship at a municipality level for Catalonia. To conduct this analysis, information provided by the Register of Industrial Establishments of Catalonia (REIC) – a register that includes the creation of new establishments located in Catalonia between 2002 and 2007 – , and by the Statistical Institute of Catalonia (IDESCAT) are used. Main results highlight the role of creativity in the spreading of ideas and the creation of new projects encouraging entrepreneurship at local level. However, the role of cultural diversity does not seem to be so relevant in deciding the location of new firms in Catalan municipalities. Finally, intellectual and technological productivity in the municipality (in terms of patents) favours the creation of new firms but only in municipalities closer to technologic and scientific centres. Keywords: creativity, diversity, innovation, entrepreneurship, industrial location JEL codes: O31, M14, O32, L26, O14 |
| Keywords: | Innovacions tecnològiques -- Catalunya, Emprenedoria -- Catalunya, Localització industrial -- Catalunya, Creativitat en els negocis -- Catalunya, 332 - Economia regional i territorial. Economia del sòl i de la vivenda, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/306521&r=ino |
| By: | Romaric Servajean-Hilst (i3-CRG - Centre de recherche en gestion i3 - Polytechnique - X - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Richard Calvi (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc) |
| Abstract: | This paper seeks to instigate a new area of research in the EPI (Early Purchasing Involvement) literature around the question: How should a purchasing function evolve in order to identify and capture innovation in the supplier market? Particularly, we attempt to characterize the specificities of the Innovation-Purchasing functions, an emerging function acting in the fuzzy-front-end of projects. The contribution of this paper is a reification of the role of an Innovation-Purchasing function in an Open Innovation context, through the description of Early Purchasing Involvement in the Innovation (EPI 2) agenda. Design/methodology/approach In this empirical paper, the data is collected through an internal benchmarking study within a multinational multidivisional firm evolving in the automotive sector where a Purchasing function dedicated to Innovation is established in its various divisions. It is then analysed using the framework developed by Van Echtelt et al. (2008) to specify which activities are necessary to manage Early Supplier Involvement (ESI). Findings Our study reveals similarities and differences between the observed practices of what we call Early Purchasing Involvement in Innovation (EPI 2) and the more classical EPI activities in an NPD context. Specifically, we observed an enforced strategic role of EPI 2 that influences the innovation process by aligning it to supplier market capabilities and purchasing strategies. Research limitations/implications The research is based on a specific case study in the automotive sector. Further studies could consider some other contexts or test the applicability of the findings to other industries. Practical implications The implications of the purchasing function is an emerging topic of interest in a lot of industries. The insights developed in this paper help such firms recognise the specific issues and contents to support EPI 2 through some organisational decisions. Originality/value As an in-depth study of a single company dealing with an emerging topic, this research responds to calls for studies embedded in reality. |
| Keywords: | Organisation of purchasing function,Early Purchasing Involvement,Open Innovation |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01700648&r=ino |
| By: | Hyunju Lee (University of Minnesota); Alessandra Fogli (Minneapolis Federal Reserve Bank) |
| Abstract: | We analyze the geographic dimension of innovation. Innovation is the critical component of long term prosperity and it is unevenly distributed across US. Using data on 1.8 million US patents and their citation properties, we map the innovation network of all major US cities over the last three decades. We find that the innovation gap among cities, which was shrinking until 1980, has recently started growing, generating divergence. We develop a network model of cities that captures the knowledge spillovers within and across industries as well as within and across cities, and calibrate it using information on the patterns of patents citations. We show that the IT revolution, by reducing the cost of information exchange across cities, induced an endogenous response of the network structure of cities. This change in network structure can explain a large part of the recent divergence in innovation patterns across cities, and is consistent with a number of stylized facts about the evolution of US cities over the past thirty years. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed017:1630&r=ino |
| By: | Federico, Giulio; Langus, Gregor; Valletti, Tommaso |
| Abstract: | We set up a stylized oligopoly model of uncertain product innovation to analyze the effects of a merger on innovation incentives and on consumer surplus. The model incorporates two competitive channels for merger effects: the "price coordination" channel and the internalization of the "innovation externality". We solve the model numerically and find that price coordination between the two products of the merged firm tends to stimulate innovation, while internalization of the innovation externality depresses it. The latter effect is stronger in our simulations and, as a result, the merger leads to lower innovation incentives for the merged entity, absent cost efficiencies and knowledge spillovers. In our numerical analysis both overall innovation and consumer welfare fall after a merger. |
| Keywords: | Innovation; mergers; R&D |
| JEL: | D43 G34 L40 O30 |
| Date: | 2018–02 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12759&r=ino |
| By: | Astebro, Thomas B.; Tåg, Joacim |
| Abstract: | Using a dataset with over 24 million observations and the universe of more than 230,000 entries into entrepreneurship we analyze the gross (including the founders), net (excluding the founders), and new (jobs to the former unemployed or those outside the labor force) job creation by entrepreneurs two and six years after start-up. These novel measures of job creation shows that the average entrepreneur does not create any jobs for any other than him/her-self, and typically arrives from having another job. Thus, short term job creation by entrepreneurs involves a reshuffling of jobs from older to new firms rather than creating new jobs. |
| Keywords: | Entrepreneurship; job creation; incorporation; occupational choice; self-employment; sole proprietorship |
| JEL: | J24 L26 |
| Date: | 2017–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1188&r=ino |
| By: | Kroll, Henning; Horvat, Djerdj; Jäger, Angela |
| Abstract: | [Introduction] In recent years, the debate on the digitalisation of industry has gained momentum not only in the political, but also in the academic sphere. As part of a broader debate on the digitisation of life, it has touched upon many relevant dynamics of industrial transformation that will, without doubt, substantially affect the way in which production as such takes place as well as the role it plays in and for diverse value chains and innovation networks. However, as much as the digitalisation debate addresses pertinent questions for future industrial innovation and production, much of it continues to suffer from a lack of clarity regarding both the very substance of the discussion and the factual consequences that it already develops in the industrial sphere. The first and arguably most pressing issue is that while the term "digitisation" succinctly captures a generic societal trend, it conveys comparatively little about the actual (catalogue of) technologies that we mean by it. A debate that moves from a general observation of "digitisation" to a more focused analysis of "industrial digitalisation" can only then yield relevant results if it is specific about the concrete technologies involved and the concrete effects in industrial innovation and production that can be expected. In the majority of cases, specific papers like this one, will only be able to address spread and effect of a certain number of digital technologies. So far, many parts of the discussion fail to deliver on these needs for differentiation not only with regard to the concrete technologies additionally deployed but also with regard to the changes in firm performance that they are supposed to trigger. While mutually related, industrial innovation and industrial production remain distinct areas on and in which the impact of "industrial digitalisation" needs to be studied separately as the set of concrete digital technologies which matter for them differs substantially. Consequently, this paper suggests that it appears reasonable to distinguish between the diverse cause-effect relationships that occur in the course of the spread of digitalisation. These need to be clearly formulated with respect to their technological foundation as well as the area of industrial activity in which change is triggered. Hence, it proposes that a structured understanding of the broad dynamic of digitalisation that we are witnessing needs to be gradually built by hypothesising, confirming and disconfirming specific relationships. Furthermore, it appears likely that "digitalisation" of industry will take effect gradually, in a step-by-step manner, as did all past breakthrough innovations from the introduction of the steam engine and, later, electricity into the production system to the various changes in the prevalent means of transportation that the past two centuries have witnessed. Typically, the invention of breakthrough technologies first spurred a development of more, related technologies before those technologies became fully implemented as prevalent means in the production system. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:58&r=ino |
| By: | Youtie, Jan; Porter, Alan L.; Shapira, Philip; Woo, Seokkyun; Huang, Yayun |
| Abstract: | This report examines Germany's research and patent position in four autonomous systems: smart homes, smart factories, autonomous vehicles (non-hostile environments), and autonomous vehicles in hostile environments. Bibliometric analysis of scholarly papers indexed in the Web of Science and patent analysis of documents in Patstat and Derwent Innovation Index (representing patents from more than 40 patent authorities worldwide) are conducted for all records published in the 2002 to 2017 (May) time period. [...] |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:efisdi:142018&r=ino |
| By: | Fiammetta Rossetti (European Commission - JRC); Daniel Nepelski (European Commission - JRC); Melisande Cardona (European Commission - JRC) |
| Abstract: | In 2015 the European Commission (EC) DG CNECT launched the 2nd edition of the Startup Europe (SE) initiative under the Horizon 2020 EU Research and Innovation programme. This initiative coordinated the efforts of six distinct projects (Digistart, Welcome, ePlus, Startup Scaleup, Twist and Startup Europe Partnership) that connected just as many European entrepreneurial ecosystems. This report provides the theoretical framework to analyse the policy support to entrepreneurship and evidence on the nearly 700 startups participating in the SE projects. This exercise also helps to collect relevant insights about the effectiveness of the matching between the SE offerings and the needs of startups. |
| Keywords: | Entrepreneurship, Innovation, ICT policy, Digital Economy, Digital Single Market |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc110945&r=ino |
| By: | Patricia Laurens (LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Société - CNRS - Centre National de la Recherche Scientifique - ESIEE Paris - UPEM - Université Paris-Est Marne-la-Vallée - INRA - Institut National de la Recherche Agronomique); Christian Le Bas (ESDES - École de management de Lyon - Université Catholique de Lyon); Antoine Schoen (LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Société - CNRS - Centre National de la Recherche Scientifique - ESIEE Paris - UPEM - Université Paris-Est Marne-la-Vallée - INRA - Institut National de la Recherche Agronomique) |
| Abstract: | The paper deals with the determinants of worldwide IP coverage of patented inventions in large pharmaceutical firms. We support the core idea that the internationalisation of firm R&D and an economic presence in a foreign country are positive key factors which explains global IP coverage. For the global pharmaceutical industry, we estimate probit models on the probability that a patent will be expanded worldwide. We retain two categories of worldwide patent: the well-known triadic patent and the new triadic one (triadic + China + Korea). The data set encompasses the 17,633 priority patents applied for by 76 enterprises from several countries over the period 2003-2005. One important finding is that patenting in Japan sets up an important barrier, giving Japanese firms an advantage when triadic patenting is considered. For European and US firms, our estimation results confirm the idea that the level of firm R&D internationalisation is a significant explanatory factor in international IP coverage, together with control variables. We highlight an inverted U-shaped relationship between these two variables. The hypothesis related to a firm economic presence is also verified. |
| Keywords: | globalisation of technology,global patent coverage, pharma firms, internationalisation of R&D, strategy |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01725229&r=ino |
| By: | Hollenstein, Heinz |
| Abstract: | The study aims at providing new evidence with respect to the still unresolved question, whether the innovation behaviour of firms reflects industry-specific characteristics ("technological regime approach"), or whether it is the outcome of firm-specific strategies to gaining a competitive edge ("strategic management view"). To this end, the author firstly identifies a set of innovation strategies (cluster analysis), whose adequacy he evaluates using the "economics of innovation" as reference. Secondly, the author investigates the dynamics of innovation strategies to get some insights into structural changes of the economy. Thirdly, he examines, based on a large number of 4-digit branches, the intra-industry heterogeneity of innovation strategies. Finally, the author analyses in a production function framework the relative importance of a company's innovation strategy and its industry affiliation as determinants of firm performance. The third part of the paper tends to support the "strategic management view" (high intraindustry heterogeneity), while the final one is rather in line with the "technological regime approach" (industry affiliation is the more important factor determining firm performance). These opposite findings indicate that a company has a certain room of manoeuvre to choose an innovation strategy in line with its specific capabilities, but some structural characteristics at industry level restrict the strategic options. |
| Keywords: | innovation,firm-level taxonomy of innovation strategies,dynamics of innovation strategies,intra-industry heterogeneity of innovation behaviour,impact of firm strategies and industry affiliation on performance |
| JEL: | O30 O31 O32 O33 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201824&r=ino |
| By: | Marcus Illmeyer (Pan-European University); Dietmar Grosch (Pan-European University); Maria Kittler (Pan-European University); Pamela Priess (Pan-European University) |
| Abstract: | In the current competitive market, innovation has become a crucial element for organizations, willing to grow. Financial management in this regard is playing a significant role in improving firms' innovation capacity. This research paper evaluates the impact of financial management components on innovativeness of Austrian SMEs. Using data of 118 employees from 41 SMEs operating in Austria, the research finds a significant impact of the financial management model on firms' innovation. The three components: liquidity, controlling, and financial literacy are statistically significant is explaining innovativeness at 1% level. The study suggests focus on the three financial management constructs in order to improve their innovation capability and capacity. |
| Keywords: | innovation capacity,financial management,financial controlling,liquidity,financial literacy,innovativeness |
| Date: | 2017–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01724084&r=ino |
| By: | Isaque Joaquim (Eduardo Mondlane University) |
| Abstract: | This paper presentation reflects literature review and the theoretical approaches on the relevance of the interdependent dynamics of Science, Technology and Innovation (STI) and their relationship to economic growth. The paper will do a review on literature of case studies and will aim to understand how the STI indicators have been applied or not applied in Mozambique for framing policy on economic planning purpose. Evolutionary theories like those of Schumpeter and others have complex and dynamic approaches which are conceptually attractive. In this paper we examine their respective virtues and limitations, and their visibility when connected with practical policy-making. In this context, the paper aims to examine the relative strengths and weaknesses of science and technology in the economy of Mozambique and analyze the policies identified to support the development of science, technology and innovation. This theoretical approach will also reflect on the relevance of the interdependent policy issues relating to the dynamics of science, technology and innovation and their relationship to economic growth. |
| Keywords: | Economic Development,Growth,Theory,Science,Technology,Innovation |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01727106&r=ino |
| By: | Sara Moreira (Northwestern University); Munseob Lee (University of Chicago); David Argente (University of Chicago) |
| Abstract: | We exploit detailed product- and firm-level data to study the sources of innovation and the patterns of productivity growth in the consumer goods sector over the period 2006-2014. Using a dataset that contains information on the product portfolio of each firm and the characteristics of each product, we document new facts on product reallocation. First, we find that reallocation of products happens within the boundaries of the firm, but the largest changes in product quality come from new firms launching new varieties and from small firms expanding to other product lines. Second, we document that product reallocation within and between firms are procyclical and that product reallocation within firms was more affected than product reallocation between firms during the great recession. Finally, we quantify the extent to which product reallocation affects firm-level productivity growth and and innovation as reflected by changes in their total factor productivity. Our preliminary findings suggest that within-firm product reallocation contributes substantially to the growth in innovation across all sectors. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed017:1614&r=ino |
| By: | Hans-Kristian Colletis-Wahl (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc) |
| Abstract: | Smart specialization strategies are implemented by the European Commission as a basis for the current structural policy cycle. Smart specialization corresponds to a reorientation of public policies that aim the development of European regions and, through it, economic and social cohesion of Member States. This evolution is based on a change concerning the theoretical representation of territorial dynamics, passing from regional innovation systems to new economic geography and strategic management based models, more focused on innovation and its influence on shaping regional structures. This article examines the impact of this change on the design and implementation of regional policies, as well as the evaluation of their impacts based on an ex ante evaluation of ERDF-ESF of the current Structural Funds Cycle 2014-2020. |
| Abstract: | Les stratégies de spécialisation intelligente sont mises en oeuvre par la Commission européenne au sein de l’actuel cycle de politiques structurelles. La spécialisation intelligente correspond à une réorientation des politiques qui ont pour objectif le développement des régions européennes et, à travers elle, la cohésion économique et sociale des États-membres. Cette évolution repose sur un changement de grille d’analyse théorique des dynamiques territoriales, qui passe d’une représentation en termes de systèmes territoriaux d’innovation à une grille de lecture issue de la nouvelle économie géographique et du management stratégique, centrée sur l’innovation et ses répercussions sur la formation des structures économiques régionales. Cet article étudie les répercussions de ce changement sur la conception et la mise en oeuvre des politiques régionales, ainsi que sur l’évaluation de leurs impacts en se basant sur une évaluation ex ante d’un PO FEDER-FSE de l’actuel cycle de Fonds structurels 2014-2020. |
| Keywords: | Evaluation, regional development, smart specialisation,socio-economic impacts,Développement régional, évaluation, impacts socio-économiques, innovation,spécialisation intelligente |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01702276&r=ino |