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on Knowledge Management and Knowledge Economy |
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Issue of 2012‒09‒30
seven papers chosen by Laura Stefanescu European Research Centre of Managerial Studies in Business Administration |
| By: | Tamás Sebestyén (Department of Economics and Regional Studies, University of Pécs); Attila Varga (Department of Economics and Regional Studies, University of Pécs) |
| Abstract: | This paper estimates the impact of interregional knowledge flows on the productivity of research at the regional level. We develop the novel index of ’ego network quality’ in order to measure the value of knowledge that can be accessed from a particular region’s global knowledge network. Quality of interregional knowledge networks is related to the size of knowledge accumulated by the partners (‘knowledge potential’), the extent of collaboration among partners (‘local density’) and the position of partners in the entire knowledge network (‘global embeddedness’). Ego network quality impact on the productivity of research in scientific publications and patenting at the regional level is tested with co-patenting and EU Framework Program collaboration data for 189 European NUTS 2 regions. |
| Keywords: | patents, scientific publications, knowledge networks, R&D productivity, regional knowledge production function, European regions |
| JEL: | O33 R11 R58 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:pec:wpaper:2012/2&r=knm |
| By: | OZAKI Masahiko |
| Abstract: | The vitalization of the service sector is one of the major economic issues in Japan, where the service sector accounts for more than 70% of GDP and concerns exist of a reduction in potential growth through population decline and the weakening of global competitiveness. However, empirical studies on the innovation factors and productivity in the service sector have faced significant difficulties due to limited data availability (e.g. poor statistical data) and problems of the sectoral classification (e.g. existence of establishments with varying characteristics of the innovation system in each sector). This paper challenges the latter problem by making categories based on the characteristics of the innovation system for the Japan Standard Industrial Classification (JSIC) service sectors (4-digit). Applying a text mining method, we quantitatively measure sensitivities of three innovation factors—(1) knowledge and technologies, (2) actors and networks, and (3) institutions following the concept of "sectoral systems of innovation" by F. Malerva—and reveal the characteristics of the innovation system which each service sector has. We also classify the JSIC service sectors (4-digit) into eight categories that have specific innovation potential according to the proper innovation system obtained from the revealed characteristics. In addition, our study finds a positive correlation between promoting innovation factors ((1) and (2)) and long-term performance (production and total factor productivity (TFP) calculated by the Japan Industrial Productivity (JIP) database), and that innovation factor (3) controls the performance. |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:12032&r=knm |
| By: | Olga Kokshagina (CGS - Centre de Gestion Scientifique - Mines ParisTech, ST-CROLLES - STMicroelectronics (Crolles) - STMicroelectronics); Pascal Le Masson (CGS - Centre de Gestion Scientifique - Mines ParisTech); Benoit Weil (CGS - Centre de Gestion Scientifique - Mines ParisTech); Patrick Cogez (ST-CROLLES - STMicroelectronics (Crolles) - STMicroelectronics) |
| Abstract: | This work deals with strategies of risk management techniques in projects and portfolios in the situation of radical innovation. Existing literature suggests different methods of risk management at the level of 1) projects (S1) (unknown reduction by selecting a priori the less uncertain projects, depending on the identified market and technological risk) 2) portfolio (S2) (consists in using an existing platform core to construct several options. This strategy increases chances to succeed by increasing the size of the sample, maximizing the total economic value of the portfolio of derivatives). These methods consider different level of uncertainties and are independent from each other. We will show that there exists another strategy (S3) of working on "common unknown" of multiple options but its managerial implementation is not obvious. By testing the proposed framework in two cases of Advanced R&D (explorative phase of new technologies development for unknown markets with fixed budget) in semiconductor industry, we compare identified S3 strategy with existing S1' lead by S2'. The paper demonstrates that management of "common unknown" is possible and could be implemented in the context of largely unknown exploration. The proposed strategy of working on common unknown opens a new way to portfolio risk management in the context of radical innovation. Using S3 framework of knowledge gap identification to construct common unknown core, company can build its innovative capabilities through knowledge management and better position to innovate in emerging fields. |
| Keywords: | Risk management, uncertainty, common unknown, project portfolio, platform core, platform derivatives |
| Date: | 2012–06–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00734100&r=knm |
| By: | NAGAOKA Sadao; TSUKADA Naotoshi; ONISHI Koichiro; NISHIMURA Yoichiro |
| Abstract: | This report presents an overview of the results of an inventor survey, focusing on Japanese inventions for which priority claims were filed during the period 2003 to 2005 with both the Japan Patent Office (JPO) and the European Patent Office (EPO). This survey, conducted as a part of an international research collaboration also comprising surveys of inventions in Europe and the United States, collected around 3,300 complete responses, translating to a 23% response rate. With the questionnaire designed to ask the characteristics of inventors as well as that of the innovation process, new evidence has been provided on such issues as the differences in invention activities depending on the manner in which the inventors' obtained their Ph.D. degrees—whether it was received in the regular way or based only on dissertation—, inventors' awareness of potential research competitors, the importance of patent literature as knowledge stock, status of remunerations to inventors, patent sales, start-ups, standard-based patents, the economic value of patent portfolios, and economic value by degree of inventiveness. The paper discusses the major findings as well as their implications on innovation policy. |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:12033&r=knm |
| By: | Tiwari, Amaresh K. (University of Liege); Mohnen, Pierre (UNU-MERIT/MGSoG, Maastricht University, and CIRANO); Palm, Franz C. (Maastricht University, and CESifo); Schim van der Loeff, Sybrand (Maastricht University) |
| Abstract: | Using a unique panel data of Dutch innovation and financial variables we empirically investigate how financing and innovation vary across firm characteristics. The study also tries to gauge the extent of market failure due to the presence of financing frictions. Our main findings can be summarized as follows. First, when firms face endogenous financial constraints, debt financing and innovation choices are not independent of firm characteristics such as age, size, and existing leverage. In the absence of financial constraints, however, firms, almost uniformly across firm characteristics, become less inclined - as compared to firms facing constraints - to engage in innovative activity by raising debt. Second, small, young, highly leveraged, and firms with lower collateralizable assets are more likely to be financially constrained. Third, large, young, and low leveraged firms are more likely to be innovators. Fourth, financial constraints adversely affect a firm’s R&D intensity. Fifth, smaller and younger firms are more R&D intensive. A new estimator, that combines the method of "Correlated Random Effects" and "Control Function" to account for the endogeneity of regressors in a structural equations model, is developed. |
| Keywords: | Financial Constraints, Capital Structure, R&D, Innovation, Firm Characteristics, Panel Data, Correlated Random Effects, Control Function |
| JEL: | G30 O30 C30 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2012062&r=knm |
| By: | Vinod Mishra; Russell Smyth |
| Abstract: | We examine the relationship between research and development (R&D) intensity and wages, using a unique matched employer-employee dataset. The dataset has the advantage that it links firm-level investment in R&D to individual employee wages and allows us to control for both employee and employer characteristics. Our main finding is that a one standard deviation increase in R&D intensity is associated with an increase in the hourly wage rate between 3.4 per cent and 6.9 per cent for the full sample, depending on the exact specification. We find that the wage elasticity with respect to R&D intensity is higher in larger firms as well as for better educated workers and workers with technical certification/skills. We also find, consistent with the rent-sharing hypothesis, that the wage elasticity with respect to R&D intensity is higher for workers who belong to the Communist Party or trade union. |
| Keywords: | R&D, China, Wages, Shanghai |
| JEL: | J31 O31 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:mos:moswps:2012-28&r=knm |
| By: | Iván Arribas (ERI-CES); Penélope Hernández (ERI-CES); Jose E. Vila (ERI-CES) |
| Abstract: | This paper analyzes the role played by two dimensions of entrepreneurs’ private social capital in the survival, growth and innovativeness of entrepreneurial service ventures: local size and preferential attachment degree. We build a bi-dimensional measure of social capital based on network models and a methodology to estimate this measure for any group of entrepreneurs. Based on a survey of service entrepreneurs who launched their business in the city of Shanghai, we show that roles played by each dimension are quite different. A large local size of the network increases the chances of survival of the new venture. However, the chance to become a dynamic venture is only related to entrepreneurs’ preferential attachment degree. This finding has relevant political and managerial implications. |
| Keywords: | social capital, networks, innovation, entrepreneurship |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:dbe:wpaper:0612&r=knm |