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on Innovation |
| By: | Marco Caliendo; Alexander S. Kritikos; Daniel Rodriguez; Claudia Stier |
| Abstract: | Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1, 405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growthoriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support _rm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators. |
| Keywords: | Entrepreneurship, firm performance, general self-efficacy, survival, job creation, innovation |
| JEL: | L26 M13 D91 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp2030&r=ino |
| By: | Martin Ho; Henry CW Price; Tim S Evans; Eoin O'Sullivan |
| Abstract: | Is calendar time the true clock of innovation? By combining complexity science with innovation economics and using vaccine datasets containing over three million citations and eight regulatory authorisations, we discover that calendar time and network order describe innovation progress at varying accuracy. First, we present a method to establish a mathematical link between technological evolution and complex networks. The result is a path of events that narrates innovation bottlenecks. Next, we quantify the position and proximity of documents to these innovation paths and find that research, by and large, proceed from basic research, applied research, development, to commercialisation. By extension, we are able to causally quantify the participation of innovation funders. When it comes to vaccine innovation, diffusion-oriented entities are preoccupied with basic, later-stage research; biopharmaceuticals tend to participate in applied development activities and clinical trials at the later-stage; while mission-oriented entities tend to initiate early-stage research. Future innovation programs and funding allocations would benefit from better understanding innovation orders. |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2302.13076&r=ino |
| By: | Billington, Stephen D.; Lane, Joe |
| Abstract: | Did the outbreak of the French Revolutionary and Napoleonic Wars influence technical change during the Industrial Revolution? We address this question by investigating an instance of state intervention into the market for inventions from 1793-1820: the introduction of a new proviso into British patents compelling inventors to supply the military, and also attracting military inventions from outside the patent system. We present new patent data alongside previously unused archival evidence to argue that the state's intervention helped direct technical change in Britain. Our evidence provides additional support for the military-demand-induced hypothesis as a credible explanation for Britain's ongoing industrialisation. |
| Keywords: | Industrial Revolution, Institutions, Invention, Patents |
| JEL: | N43 N73 O31 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:qucehw:202305&r=ino |
| By: | Grillitsch, Markus (CIRCLE, Lund University); Coenen, Lars (Western Norway University of Applied Sciences); Morgan, Kevin (Cardiff University) |
| Abstract: | In this paper we consider if and how regional policy can be designed to foster sustainability (the wellbeing of people and planet) as well as being a catalyst for innovation and development. Focusing on the entrepreneurial discovery process, the paper explores its role and limitations in balancing directionality and subsidiarity in regional development. In its original conception, it was designed to direct regional development towards promising future opportunities building on existing strengths. We argue that while the rationale of the entrepreneurial discovery process serves innovation-driven competitiveness, it lacks sufficient sensitivity to the social and environmental dimensions of sustainability. Rather than retrofitting the missing dimensions of sustainability, the logic needs to be rethought from the basics, which we do by asking if and under which conditions the entrepreneurial discovery process directs regional development to deliver on human wellbeing and environmental impact. We argue that this depends on the nature of existing opportunities, on how development is framed and on who is engaged in the discovery process. To this end we argue that regional policy needs to i) adopt a more capacious perspective to change processes and policy agency, taking action if needed to reconfigure the opportunity space, and ii) adopt a broader perspective on discovery processes, which goes beyond the realm of entrepreneurs and business alone and integrates the lessons learned from experimentation processes in and across a variety of domains. For this to happen, it is necessary to develop the institutional capacity for a regional development strategy that is sensitive to multiple (and sometimes conflicting) societal goals. |
| Keywords: | regional innovation policy; smart specialisation; partnerships for regional innovation; sustainability transitions; discovery process; opportunity space |
| JEL: | O10 O20 O38 R10 R58 |
| Date: | 2023–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2023_001&r=ino |
| By: | Xun Bian; Erik Devos; Zifeng Feng |
| Abstract: | We investigate the relation between commercial real estate (CRE) returns and regional innovativeness and find that regions with more innovation exhibit higher total returns on commercial property. And, when we investigate the extent to which income return and capital return on commercial properties are related to local innovativeness, we report a positive relation between innovativeness and income return but little to no association between innovativeness and capital return. Our paper also provides some initial evidence, suggesting that local innovativeness is related to better future CRE performance. Overall, this paper suggests that innovativeness of a region is economically and statistically positively related to CRE returns, adding to a budding literature investigating CRE returns, as well as a large literature researching innovation. |
| Keywords: | commercial real estate; Innovation; Returns |
| JEL: | R3 |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:2022_39&r=ino |
| By: | Borrás, Susana (Copenhagen Business School); Haakonsson, Stine (Copenhagen Business School); Taudal Poulsen, René (Copenhagen Business School); Pallesen, Trine (Copenhagen Business School); Hendriksen, Christian (Copenhagen Business School); Somavilla, Lucas (University College London); Kugelberg, Susanna (Copenhagen Business School); Larsen, Henrik (Copenhagen Business School); Gerli, Francesco (Copenhagen Business School) |
| Abstract: | Although public sector organizations (such as municipalities, executive agencies, and publicly controlled utilities), are pivotal in sustainability transitions, a conceptualization of their transformative capacity is underdeveloped. Several strands of literature have started to pay attention to the concept of ‘capacity’, but these remain disjointed. Conducting a literature review, the present paper identifies variations and understudied aspects of the concept. It proposes a holistic conceptual framework based on three elements: their organizational roles, resources, and skills. Hence, the transformative capacity of a public sector organization is defined by the interaction between its purposeful enactment of various roles when exercising change agency, and by the deployment and development of its dynamic skills, when mobilizing the internal and external resources at its disposal. The framework offers the opportunity for a granular understanding of what specific combinations of those elements are at play in the implementation of highly diverse sustainability actions. This has important theoretical and empirical implications, as well as practical implications for more targeted transformative capacity-building efforts. |
| Keywords: | sustainability transitions; eco-innovation; transformative innovation; socio-technical systems; climate; capacity; dynamic capabilities; climate; governance |
| JEL: | O31 O33 O38 Q01 Q28 Q58 Z18 |
| Date: | 2023–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2023_002&r=ino |
| By: | Daniele Angelini (University of Konstanz) |
| Abstract: | Population aging affects the relative supply of inputs in the economy altering the in-centives to adopt different types of technology. Empirically, I document a hump-shaped relation between the age of the population and the adoption of new-technology proxied by the ICT capital share. To explain the non-monotonic relationship and identify the mech-anisms at play, I build a dynamic general equilibrium model with endogenous technology and R&D-driven technological progress. New-technology is defined as a labor-saving (capital-intensive) technology requiring skills to be used. An increase in the capital-to-labor ratio driven by population aging increases new-technology adoption while the increasing scarcity of young workers that have higher incentives to acquire the comple-mentary skills to new-technology reduces it. The model, calibrated to fit European data, shows that the demographic structure of the population is a major determinant of tech-nology adoption. Population aging explains almost half of the increase in new-technology adoption in the period 1995-2020 and it determines its reduction in the period 2020-2045. A decomposition exercise shows that population aging is a primary source of the increase in the skill premium explaining a larger share of its increase than technological progress. |
| Keywords: | Automation, Demographic change, Human capital, Inequality, R&D, OLG |
| JEL: | J11 J24 J26 J31 E25 H23 O31 O33 |
| Date: | 2023–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:knz:dpteco:2301&r=ino |
| By: | Lorenzo Cresti; Maria Enrica Virgillito |
| Abstract: | Focusing on labour requirements incorporated into GVCs, in the following, we develop a novel, non conventional measure of learning capabilities, represented by knowledge embodied along the division of labour within global production networks. In order to capture the division of labour, and the ensuing division of embodied knowledge, we move from monetary flows of production, or value-added embodied, to labour embodied in the I-O linkages. We focus on mature economies as offshoring has been particularly in place there. After constructing a new indicator of Bilateral Net Labour Dependence, we estimate its relationship with a measure of performance of industries, namely, labour productivity, seeking to challenge the established findings generally reporting a positive effect of GVCs participation for sector-level productivity. Our conjecture is that being in a weak position in terms of (net) labour provision results in an overall weakening of the capabilities of the loosing productive structure. We corroborate the conjecture with a panel analysis of OECD countries and industries for the time period 2000-2014. |
| Keywords: | Input-output; global value chains; international division of labour; dependency theory. |
| Date: | 2023–02–24 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2023/10&r=ino |