nep-knm New Economics Papers
on Knowledge Management and Knowledge Economy
Issue of 2013‒10‒11
twenty-one papers chosen by
Laura Stefanescu
European Research Centre of Managerial Studies in Business Administration

  1. Monitoring innovation activities of innovation process participants (2011: R&D organisations) By Leonid Gokhberg; Tatiana Kuznetsova; Vitaly Roud; Stanislav Zaichenko
  2. The persistence of firms' knowledge base: A quantile approach to Italian data By Alessandra Colombelli; Francesco Quatraro
  3. Conceptualizing the innovation process – trends and outlook By Maxim Kotsemir; Dirk Meissner
  4. Innovation concepts and typology – an evolutionary discussion By Maxim Kotsemir; Alexander Abroskin; Dirk Meissner
  5. User innovation - empirical evidence from Russia By Anna Zaytseva; Olga Shuvalova; Dirk Meissner
  6. Migration and innovation: A survey By Rashidi, Sheida; Pyka, Andreas
  7. Orchestrating innovation with user communities in the creative industries By G. Parmentier; Vincent Mangematin
  8. Innovation, reallocation and growth By Acemoglu, Daron; Akcigit, Ufuk; Bloom , Nicholas; Kerr , William
  9. The success factors of technology-sourcing through mergers & acquisitions: An intuitive meta-analysis By Schön, Benjamin; Pyka, Andreas
  10. Toward a conceptual framework for the knowledge bank By Chioda, Laura; de la Torre, Augusto; Maloney, William F.
  11. Turkish-German innovation networks in the European research landscape By Prostolupow, Irene; Pyka, Andreas; Heller-Schuh, Barbara
  13. Environmental innovations and profitability: How does it pay to be green? An empirical analysis on the German innovation survey By Ghisetti, Claudia; Rennings, Klaus
  14. Scientific breakthroughs, innovation clusters and stochastic growth cycles By Stadler, Manfred
  15. Historical foundations for a global perspective on the emergence of a Western European regime for the discovery, development and diffusion of useful and reliable knowledge By O'Brien, Patrick
  16. Public sector e-innovations. E-government and its impact on corruption By Liliana Proskuryakova; Gulnara Abdrakhmanova; Hans Pitlik
  17. Growth drivers: ICT and inclusive innovations By Ashima Goyal
  19. What types of bondholders impede corporate innovative activities? By Hasan, Iftekhar; O’Brien, Jonathan; Ye , Pengfei
  20. On the Relationship between Human Capital and Firm Performanc By Dinh Thi Thanh Binh; Le Minh Ngoc; Nguyen Huu Thinh; Bui Cao Khai; Tran Duy Hung; Nguyen Viet Duong; Le Thi Thu Trang
  21. The spatial organisation for cooperation: what knowledge can we use from a historical analysis to understand the design of a new campus at Saclay ? By Caroline Scotto

  1. By: Leonid Gokhberg (National Research University Higher School of Economics, First Vice Rector; Institute for Statistical Studies and Economics of knowledge); Tatiana Kuznetsova (National Research University Higher School of Economics. Institute for Statistical Studies and Economics of knowledge. Director of the Centre for S&T, Innovation and Information Policies); Vitaly Roud (National Research University Higher School of Economics. Institute for Statistical Studies and Economics of knowledge. Research assistant); Stanislav Zaichenko (National Research University Higher School of Economics. Institute for Statistical Studies and Economics of knowledge. Senior research assistant)
    Abstract: “Monitoring innovation activities of innovation process participants” is a project which has been carried out by the Higher School of Economics (HSE) for several years to promote monitoring and analysis of innovation issues in general, and on specific activities of its particular actors from a scientific research perspective. The project is aimed at accumulating empirical knowledge about the nature and types of interaction between various actors of the national innovation system. In 2009-2010 the study was targeted at manufacturing and service sector companies while the 2010-2011 study targeted at R&D organisations. The specific objective for 2011 was studying various aspects of applied research organisations’ involvement in the innovation process (application of R&D results in the economy). The study yielded the following results: - A concept for monitoring R&D organisations’ innovation activities was proposed, including operational definition of such activities; - Survey programme and tools to monitor Russian R&D organisations were developed, including advanced methodological and procedural approaches as well as practical experience; - Results of R&D organisations’ innovation activities survey were analysed and compared with available statistical data; the collected data also allows to identify and systematise various factors and conditions affecting innovation activities of these organisations; Eventually areas for updating the survey’s concept and tools were identified
    Keywords: R&D institutions, public research institutes, S&T results, knowledge transfer, technology transfer, innovation, research management, innovation management, microdata, Russia
    JEL: O31 O32 O33 O38
    Date: 2013
  2. By: Alessandra Colombelli (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis [UNS] - CNRS : UMR6227); Francesco Quatraro (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université Nice Sophia Antipolis [UNS])
    Abstract: The paper investigates the patterns of persistence of innovation and of the properties of firms' knowledge base (KB) across a sample of Italian firms in the period 1998-2006. The analysis draws upon a theoretical representation of knowledge as a collective good, stemming from the recombination of knowledge bits that are fragmented and dispersed across economic agents. On this basis, we derived properties of the KB like the coherence, the cognitive distance and the variety, and investigated their patterns of persistence over time. The empirical analysis is implemented by exploring the autocorrelation structure of such properties within a quantile regression framework. The results suggest that the properties of knowledge are featured by somewhat peculiar patterns as compared to knowledge stock, and that such evidence is also heterogeneous across firms in different quantiles.
    Keywords: Persistence; Innovation; Knowledge Coherence; Variety; Cognitive Distance; Quantile regression; autocorrelation
    Date: 2013–09–27
  3. By: Maxim Kotsemir (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, Research Laboratory for Science and Technology Studies, Junior Research Fellow.); Dirk Meissner (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, Research Laboratory for Science and Technology Studies, Deputy Laboratory Head.)
    Abstract: This paper introduces the evolving understanding and conceptualization of innovation process models. From the discussion of different approaches towards the innovation process understanding and modeling two types of approaches to the evolution of innovation models are developed and discussed. First the so-called innovation management approach which focuses on the evolution of the company innovation management strategies in different socioeconomic environments. Second is the analysis the evolution of innovation models themselves in conceptual sense (conceptual approach) as well as analysis of theoretical backgrounds and requirements for these models. The main focus of analysis in this approach is on advantages and disadvantages of different innovation models in their ability to describe the reality of innovation processes. The paper focuses on the advantages and disadvantages as well as potentials and limitations of the approaches and also proposes potential future developments of innovation models as well as the analysis of driving forces that underlie the evolution of innovation models recently.
    Keywords: innovation models, innovation process, generations of innovation models, process dimension of innovation, innovation models evolution; innovation management.
    JEL: O14 O30 O31 O32 O33 Q55
    Date: 2013
  4. By: Maxim Kotsemir (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, Research Laboratory for Science and Technology Studies, Junior Research Fellow.); Alexander Abroskin (National Research University Higher School of Economics; Institute for Statistical Studies and Economics of Knowledge, Department for Strategic Foresight, Chief Research Fellow, Associate Professor, Doctor of science); Dirk Meissner (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, Research Laboratory for Science and Technology Studies, Deputy Laboratory Head.)
    Abstract: This paper is devoted to the analysis of evolution of innovation concepts, aspects and types. First emergence and evolution of different aspects and concepts of innovation are analyzed, and then the development of innovation concepts from a historical perspective and finally an overview of the types of innovation classifications developed in the literature are given. Complementary the different definitions of innovation are described and analyzed in detail. The main goal of the article is to identify, describe and visualize the development trend of innovation conceptualization and understanding over time
    Keywords: innovation concepts, innovation types, aspects of innovation, innovation systems, innovation ecosystems, typology of innovation, product innovation, process innovation, service innovation, marketing innovation, organization innovation, business innovation
    JEL: B10 B20 O31 O32 O33 Q55
    Date: 2013
  5. By: Anna Zaytseva (Centre d'etudes de la vie politique, Universite Libre de Bruxelles); Olga Shuvalova (Research Fellow, Institute for Statistical Studies and Economics of Knowledge, Laboratory for Economics of Innovation); Dirk Meissner (Deputy Head, Laboratory for Science and Technology Studies, Institute for Statistical Studies and Economics of Knowledge, National Research University Higher School of Economics)
    Abstract: Innovations are commonly seen as resulting from the commercialization of new ideas and technological goods by dedicated organizations, especially firms. This conception is reflected in a producer-oriented approach to science, technology and innovation policy-making (STI). However a new understanding of the role of users within innovation processes is gradually taking shape, with profound policy implications. User innovations are often not based on technological improvement or R&D and remain largely under-estimated. Although there are many case studies of user innovators at the industry level, the role of users is not captured by general statistics on innovation. Up to now the only exception is the empirical evidence-based study of user innovation carried out in the UK in 2009. Recently it was complemented by empirical data from the USA and Japan. The present article aims to contribute to closing the gap of empirical data on user engagement into innovation activities at cross-country level. The analysis is based on the results from a national survey carried out in Russia in 2011. The findings contribute to the better understanding of user innovators profile and of the factors which underpin user innovator activities in the context of emerging economies. The article is organized as follows. The first section reviews the relevant literature on the user innovation concept and the main features of user innovations as compared to producer-generated innovations, as well as on the measurement of user innovators. The second section presents the research methodology and the main empirical results. Finally, the paper discusses some of main analytical and policy implications of the empirical findings
    Keywords: User Innovation, Innovation Sources, Open Innovation, Innovation Management, Demand Driven Innovation
    JEL: L21 M10 M14 M31 O21 O32 O33
    Date: 2013
  6. By: Rashidi, Sheida; Pyka, Andreas
    Abstract: In a world characterized by competition on a global scale, persistent structural change driven by innovation and aging societies in industrialized economies, also the competition for the best talents on the labour markets becomes global and more intensive. Therefore it is not surprising that old-fashioned brain drain explanations for migration are no longer convincing. In the knowledge-based economies of the 21st centuries the ideas of brain circulation and international (diaspora) innovation networks become prevailing and should guide the design of migration policies. This paper is a survey on the theoretical and empirical approaches which address the important relationship between migration and innovation. --
    Keywords: Innovation,Migration
    Date: 2013
  7. By: G. Parmentier (CERAG - Centre d'études et de recherches appliquées à la gestion - CNRS : UMR5820 - Université Pierre-Mendès-France - Grenoble II); Vincent Mangematin (MTS - Management Technologique et Strategique - Grenoble École de Management (GEM))
    Abstract: The digital creative industries exemplify innovation processes in which user communities are highly involved in product and service development, bringing new ideas, and developing tools for new product uses and environments. We explore the role of user communities in such co-innovation processes via four case studies of interrelations between firms and their communities. The digitization and virtualization of firm/community interactions are changing how boundaries are defined and how co-innovation is managed. The transformation of innovation management is characterized by three elements: opening and redefining firm boundaries; opening of products and services to community input and reducing property rights; and reshaping organization and product identities. Innovation in collaboration with user communities requires firms to orchestrate their communities and their inter-relationships to encourage the creativity and motivation of users, and develop the community's innovatory capacity.
    Keywords: Online communities; User; Innovation; Video game; Community management; Co-innovation
    Date: 2013
  8. By: Acemoglu, Daron (MIT, CEPR and NBER); Akcigit, Ufuk (University of Pennsylvania and NBER); Bloom , Nicholas (Stanford University, NBER and CEPR); Kerr , William (Harvard University, Bank of Finland, and NBER)
    Abstract: We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A key feature is the selection between high- and low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using detailed US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of a range of micro estimates. We find industrial policy subsidizing either the R&D or the continued operation of incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1.5% because it deters entry of new high-type firms. On the contrary, substantial improvements (of the order of 5% improvement in welfare) are possible if the continued operation of incumbents is taxed while at the same time R&D by incumbents and new entrants is subsidized. This is because of a strong selection effect: R&D resources (skilled labor) are inefficiently used by low-type incumbent firms. Subsidies to incumbents encourage the survival and expansion of these firms at the expense of potential high-type entrants. We show that optimal policy encourages the exit of low-type firms and supports R&D by high-type incumbents and entry.
    Keywords: entry; growth; industrial policy; innovation; R&D; reallocation; selection
    JEL: E02 L11 O31 O32 O33
    Date: 2013–09–25
  9. By: Schön, Benjamin; Pyka, Andreas
    Abstract: With mergers & acquisitions playing an increasingly important role in today's business world, academic research has strived to follow this trend by investigating their underlying causes and consequences. For a long time this research focused on the analysis of the financial effect of mergers & acquisitions as measured by market value or debt level. Thus, despite being a major vehicle of industry concentration and method of reallocation of resources, the technological impact of mergers & acquisitions remained comparatively underinvestigated for a long time. This, however, has changed in recent years. With the prevalence of the resource-based view and its derivates as the dominant logic in analysing today's knowledge-intensive industries the focus shifted towards the technological aspects of mergers & acquisitions. With both mergers & acquisitions and innovation being centrepieces of competitive strategies in the modern economy, it is of central importance to understand the consequences of mergers & acquisitions for the innovative potential of firms. After more than twenty years of research in this field, it is time to take stock of what we know about the technological impact of mergers & acquisitions and its determinants. The aim of this paper is to provide an overview of the respective research by performing a meta-analysis of the empirical studies in the field. The intuitive setup allows for a detailed analysis of the individual determinants while differentiating between the impact on innovation input and output. We identify the knowledge characteristics of the partnering firms as being essential to the technological success of mergers & acquisitions. Important implications for policy makers, practitioners and future research are derived. --
    Keywords: Innovation,Mergers and Acquisitions
    Date: 2013
  10. By: Chioda, Laura; de la Torre, Augusto; Maloney, William F.
    Abstract: This paper proposes some basic elements of a conceptual framework to help organize the thinking about policies that can strengthen the knowledge mission of the World Bank. It first argues that the Bank occupies a unique and prominent subset of the social and economic development"knowledge space"that ranges from abstract basic research to codified knowledge solutions. The fact that this niche centrally includes the provision of public good-intensive knowledge weakens organizational analogies between the Bank and private consulting firms. The range of products coupled with an increasing emphasis on just-in-time advisory services dictate the need for not more generalists, but rather an increased range and depth of very specific and high quality human capital. However, this increased specialization in turn creates the need for"hinge"actors who can communicate and operate well across different knowledge communities -- academics, policy makers, practitioners, etc. The necessary changes in human resource and incentive policies, in particular the critical development of better means of ensuring the quality of knowledge production, are an essential complement to any organizational restructuring.
    Keywords: Agricultural Knowledge and Information Systems,Knowledge Economy,Knowledge for Development,ICT Policy and Strategies,Banks&Banking Reform
    Date: 2013–09–01
  11. By: Prostolupow, Irene; Pyka, Andreas; Heller-Schuh, Barbara
    Abstract: Research networks are regarded as channels for knowledge creation and diffusion and are thus essential for the development and integration of economies. In this paper we have a look at the long Turkish-German-migration history which should offer opportunities for both countries to benefit from brain circulation, transnational entrepreneurs and research networks. The present paper examines the structure of research networks of the European Framework Programmes (FP) that are established by joint participation of organizations in research projects, in particular German research organizations with Turkish participants in FP5 to FP7 in the knowledge-intensive technology fields ICT, Biotechnology and Nanoscience. A better understanding of these networks allows for improving the design of research policies at national levels as well as at the EU level. The empirical examination of network properties reveals that the diverse networks show a range of similarities in the three technology fields in each FP such as the small-world properties. Moreover, our findings show that German actors play a specific role in most examined research networks with Turkish participation. --
    Keywords: Turkish-German-migration history,brain circulation,innovation networks,research networks,EU Framework Programmes,small-world characteristics,centrality measures
    Date: 2013
  12. By: Natalia Shmatko (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, Department for Human Capital Studies, head of Department)
    Abstract: The paper highlights key research questions that concern skills and abilities of highly qualified personnel who are employed in the innovation related professions in the labour market. Developing a national system of competencies which would allow selecting and training personnel capable of creating and applying innovations is a very challenging task. The solution implies first of all the construction of the relevant methodologies and tools for the assessment of competencies acquired during vocational education and training and competencies required at working places. A survey of engineers conducted by the Institute for Statistical Studies and Economics of Knowledge of the National Research University Higher School of Economics in 2011 strives for moving beyond the simple slogans of the knowledge economy and the received wisdom about shifts from low to higher skills, from blue to white collars. This study investigates how far the trend in skill requirements follows market expectations. Two large groups of highly qualified STI personnel are studied: the first includes the engineering and technical personnel with top-level qualifications employed by industrial enterprises, the other involves the staff of research, development, design organisations whose responsibilities include R&D (à total of 3158 graduates were surveyed). The paper is organized as follows. First, the data collection approach and analysis methodology are introduced and results discussed. Second, engineering education and application of acquired skills are analysed. The paper concludes with a summary of the major findings that show the important role of ‘general’ competencies required from engineers at their jobs, such as self-organisation, openness to new information, the ability and willingness to learn, and communication skills.
    Keywords: competency; innovation economy; engineers, graduates; knowledge economy; labour market; researchers; skills; vocational education and training.
    JEL: I2 L2
    Date: 2013
  13. By: Ghisetti, Claudia; Rennings, Klaus
    Abstract: Much of the empirical literature analysing the relation between environmental innovation and competitiveness has focused on the question whether 'it pays to be green'. We differentiate between different types of environmental innovations, which will be disentangled in those aiming at reducing the negative externalities and those allowing for efficiency increases and cost savings. What we analyze is at first the extent to which these two typologies have impacts on firms' profitability with opposite signs, and, secondly, whether the motivations driving the adoption of those innovations make the difference in terms of economic gains. We find empirical evidence that both the typology of Environmental Innovation and the driver of their adoption affect the sign of the relationship between competitiveness and environmental performance. The empirical strategy is based on a sample of German firms and makes use of a merge of two waves of the Mannheim Innovation Panel in 2011 and 2009 that allow overcoming some endogeneity issues which may arise in a cross-section setting. --
    Keywords: Profitability,Externality Reducing Innovations,Energy and Material Efficiency Innovations,Mannheim Innovation Panel
    JEL: Q55 Q20 M10 K32
    Date: 2013
  14. By: Stadler, Manfred
    Abstract: We develop a dynamic stochastic general-equilibrium model of science, education and innovation to explain the simultaneous emergence of innovation clusters and stochastic growth cycles. Firms devote human-capital resources to research activities in order to invent higher quality products. The technological requirements in climbing up the quality ladders increase over time but this hampering effect is compensated for by an improving qualification of researchers allowing for a sustainable process of innovation and scale-invariant growth. Jumps in human capital, triggered by scientific breakthroughs, induce innovation clusters across industries and generate long-run growth cycles. --
    Keywords: Science,Education,Innovation clusters,Stochastic growth cycles
    JEL: C61 E32 O33
    Date: 2013
  15. By: O'Brien, Patrick
    Abstract: At a ‘conjuncture’ in pre-modern global history, labeled by previous generations of historians as the ‘Scientific Revolution’, the societies and states of western Europe established and promoted a regime of interconnected institutions for the accumulation of useful and reliable knowledge. This placed their economies on trajectories that led to divergent prospects for long-term technological change and material progress. Although the accumulation of such knowledge takes place over millennia of time, and in contexts that are global, critical interludes or conjunctures in a “dialogue of civilizations” have remained geographically localized, and indigenous in nature. Determining the locations, origins and forms of this particular conjuncture is often dismissed as an exercise in Eurocentric history. Modern scholarship has also preferred to emphasize the roles played by craftsmen in its progress and diffusion - ignoring metaphysical and religious foundations of knowledge about the natural world. My survey aims to restore traditional perceptions that the West passed through a transformation in its hegemonic beliefs about prospects for the comprehension and manipulation of that world in the sixteenth and seventeenth centuries. It will suggest that the Scientific Revolution’s remote antecedents might be traced back to Europe’s particular transition from polytheism to monotheism. Thirdly, it summarizes literature that analyses how centuries of tension between Christian theology and natural philosophy led, during the Renaissance, to a displacement of scholastic and beatified Aristotelian conceptions and obstacles to understandings of the natural world. Finally, the survey will elaborate on how new knowledge flowing into Europe from voyages overseas, and medieval advances in technology, together with scepticism arising from religious warfare, stimulated a widespread search for more useful and reliable forms of knowledge throughout the Catholic and Protestant West.
    Date: 2013–03
  16. By: Liliana Proskuryakova (Research Laboratory for Science and Technology Studies, National Research University “Higher School of Economics”); Gulnara Abdrakhmanova (Director Center for Statistics and Monitoring of Information Society, National Research University “Higher School of Economics”); Hans Pitlik (WIFO - Austrian Institute of Economic Research)
    Abstract: The paper aims at assessing indicators and individual elements of e-government of selected countries in 2009-2010, and the interrelation of e-government with corruption in the public sector. The authors explore possible causal and dependency relations of the established interlink between e-government and public sector corruption. Although it is universally acknowledged that corruption is an evil, there is much debate over which determinants of corruption are important. Using econometric analysis for sizeable country samples the authors verified the closeness of interrelation between e-government indicators and ICT Development Index indicators, such as online services quality and ICT usage, on one hand, and the level of perceived public sector corruption, on the other hand. The major research papers were analyzed, along with international rankings and databases of international organizations. Based on the analysis recommendations for overcoming international e-government measurement constraints are put forward, as well as suggestions for future studies of the topic
    Keywords: Public sector, innovation, e-government, ICT, corruption
    JEL: D73 H70 P17 O33 Z18
    Date: 2013
  17. By: Ashima Goyal (Indira Gandhi Institute of Development Research; Institute of Economic Growth)
    Abstract: The paper explores the contribution of innovations to Indian growth. Inclusive innovations aid catch-up and close productivity gaps. An analytical framework helps to characterize policies that contribute to such innovations. Recent telecommunication and mobile banking policies are assessed against these. While policy can directly encourage it, if innovation depends on market size above a threshold, policies that expand size can be more effective in inducing innovation. While policy successfully expanded mobile use, increasing revenue has recently taken precedence over expanding the market. Poor provision of the relevant infrastructure continues to exclude sections of the population and limit spillovers. Regulatory measures that limited market size were partly responsible for India's lack of success in mobile banking, compared to Pakistan.
    Keywords: Inclusive innovation, technology policy, telecom, mobile banking
    JEL: O31 O33 O38
    Date: 2013–09
  18. By: Konstantin Fursov (National Research University Higher School of Economics, Institute for Statistical Studies and Economics of Knowledge, International Laboratory for Economics of Innovation Research Fellow); Ian Miles
    Abstract: How can we think about the implications of radical technological change for employment and skills? Given the long lead-times required to train professionals, this is an important question, and standard approaches to modeling employment and occupational trends only provide limited parts of the answer. Innovation studies provide us with some further tools for tackling the question, such as diffusion and industry life-cycle analysis, and ideas about different sorts of technological change (including technical paradigms, regimes, and trajectories of change), which are very relevant to emerging technologies like nanotechnology. There are many claims and much argument about the scope and speed of the evolution of nanotechnology. It poses particular challenges to conventional forecasting approaches precisely because it is difficult to resolve such debates in the infancy of a technology, and in this case knowledge is fragmented because of the intersection of numerous lines of development at the nano-scale. Current skill and employment projections for nanoindustries are problematic, so it is important to consider new ways to improve understanding and provide more policy-relevant intelligence.
    Keywords: emerging technologies, nanotechnology, statistics, Foresight, skills
    JEL: C18 C46 C53 Z13
    Date: 2013
  19. By: Hasan, Iftekhar (Fordham University and Bank of Finland); O’Brien, Jonathan (Lally School of Management & Technology, Rensselaer Polytechnic Institute); Ye , Pengfei (Lally School of Management &Technology, Rensselaer Polytechnic Institute)
    Abstract: This study investigates whether institutional bond blockholders (i.e., bond funds that hold more than 5% of a firm’s outstanding bonds) impede firm innovative activities, and if they do, through which channels. We find that long-term bond blockholders do not discourage firms from conducting innovative activities. Short-term bond blockholders, however, significantly reduce both firm investments in R&D and the innovative quality of these investments. Furthermore, their negative impact is stronger than the negative impact of short-term stockholders. Our results cannot be fully explained by short-term bondholders’ a priori investment preferences and are robust to possible endogeneity concerns. Overall, they suggest that the option of the ‘Wall Street walk’ allows bondholders to exert considerable influence on firms’ risk-taking decisions.
    Keywords: bondholder; innovation; investment horizon; Wall Street walk
    JEL: G23 G31
    Date: 2013–10–03
  20. By: Dinh Thi Thanh Binh (Faculty of International Economics, Foreign Trade University); Le Minh Ngoc (Faculty of International Economics, Foreign Trade University); Nguyen Huu Thinh (Faculty of International Economics, Foreign Trade University); Bui Cao Khai (Faculty of International Economics, Foreign Trade University); Tran Duy Hung (Faculty of International Economics, Foreign Trade University); Nguyen Viet Duong (Faculty of International Economics, Foreign Trade University); Le Thi Thu Trang (Faculty of International Economics, Foreign Trade University)
    Abstract: This paper applies the ordinary least square regression model to estimate the effects of the human capital on the business performance of small and medium enterprises (SMEs) in Vietnam. We exploit the cross-sectional data of SMEs for the year 2009. The estimated results show that basic and professional education of the firm owner are important factors affecting the success of the firm. Further, experience in owning a business before can help the firm owners enhance their performance. Finally, knowledge from learning is seen to have a strong effect on entrepreneurial performance.
    Date: 2013
  21. By: Caroline Scotto (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris)
    Abstract: This proposal is part of the thesis which is looking at the conception of the Campus Paris-Saclay (France) being part of the implementation of a nationwide public policy the main purpose of which to give France a higher education and research system of excellence. One of many reforms is to stimulate the scientific cooperation by grouping together some of the best French higher education institutions and to promote cooperation between public research and the economic world. The starting point of the research is to question what involves the notion of campus by looking at the hypothesis that a historical approach can create knowledge. We propose to focus on the principles of campus development in order to establish a morphological and functional genealogy of this object. The principles reveal that the purpose of the first campus was to organise a new community or to bring several communities together and create a social link between them, materialised by specifics shapes: quadrangle, galleries etc. What kind of knowledge can we use from empirical examples of cooperation in the business field (Axelrod, 1984) (Hatchuel, 1996) (Segrestin, 2006) to enhance the reflection and to conceive the spatial organisation of the cooperation between several partners of the campus? We propose to look at the actual management of emblematic projects for cooperation at Saclay, such as the Learning Center building and its spatial organisation in order to question if the new campus will create innovative conditions for the production of knowledge.
    Keywords: Campus design;cooperation; project management;public policy;spatial organisation
    Date: 2013–09–10

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