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on Knowledge Management and Knowledge Economy |
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Issue of 2018‒10‒08
three papers chosen by Laura Ştefănescu Centrul European de Studii Manageriale în Administrarea Afacerilor |
| By: | Javier Mejia (Division of Social Science) |
| Abstract: | This paper offers a theoretical framework to understand the coevolution of social interactions and long-term economic growth. It begins by considering that most traditional societies did not have educational markets. Thus, access to the required knowledge for transiting to a modern economy had to be transmitted through social interactions, in particular, through the interaction between heterogeneous groups of people–i.e. distant interactions. Once immersed in a modern economy, the productive system should have increased the demand for knowledge, promoting more distant interactions. Simultaneously, the emergence of distant interactions should have affected the connectivity of society, reducing its heterogeneity, making cheaper posterior interactions but reducing their profitability. Moreover, social interactions competed and benefited from other non-market activities, child rearing specifically. The model arrives at four basic predictions. First, modern economic growth brings a more cohesive society. Second, modern economic growth brings long-term reductions in fertility with potential short-term increases. Third, initial barriers to social interactions could explain the timing of modern economic growth arrival. Fourth, the timing of modern economic growth arrival could explain current output levels. I exploit different data sources to offer evidence in support of these predictions. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:nad:wpaper:20180021&r=knm |
| By: | Cici, Gjergji; Kempf, Alexander; Peitzmeier, Claudia |
| Abstract: | Firms' competitive advantages are unsustainable when competitors poach their employees away to learn about their organization processes. We document inter-firm knowledge spillovers through such personnel moves in the mutual fund industry. Almost two thirds of the competitive advantage of the originating fund family spills over to the recipient family. This effect intensifies when the switching manager has amassed more organizational knowledge at the originating family. Performance deterioration at the originating family suggests erosion of its competitive advantage, which intensifies when more money chases the newly-transferred knowledge at the recipient family. This implies wealth transfers across investors in respective families. |
| Keywords: | organization capital,knowledge spillovers,mutual funds,learning-by-hiring |
| JEL: | D86 G23 K12 K31 M5 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cfrwps:1804&r=knm |
| By: | Yagi, Michiyuki; Managi, Shunsuke |
| Abstract: | This study compares the shadow price (marginal cost) and shadow value (total cost) of patent stock (as knowledge stock) in each of 92 countries between 1992 and 2010. Two specifications are considered in the data envelopment analysis approach. One specification considers population, capital, patent stock, energy use (four inputs), greenhouse gas (undesirable output), and gross domestic product (desirable output). The other uses human capital and natural capital instead of population and energy use. Under these two specifications, respectively, the shadow price of the patent stock (on weighted average) for the whole period is −0.106 and −0.054 million US dollars per patent in the entire sample. Similarly, the shadow value of the patent stock (by the ratio of gross domestic product) in the entire sample is −5.8% and −2.9%, respectively. As the standing position of patent stock, the patent stock is less valuable than human capital and (produced) capital but more valuable than population, energy use, and natural capital. The patent stock also is likely to be valuable in developing countries. In addition, the shadow value of the patent stock is relatively high in certain large countries and nearly flat in most of the countries. |
| Keywords: | Data envelopment analysis; Patent stock; Shadow price; Inclusive wealth index |
| JEL: | C14 O34 O44 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:89146&r=knm |