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on Knowledge Management and Knowledge Economy |
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Issue of 2019‒05‒27
four papers chosen by Laura Ştefănescu Centrul European de Studii Manageriale în Administrarea Afacerilor |
| By: | Galina Besstremyannaya (Centre for Economic and Financial Research at New Economic School); Richard Dasher (Stanford University); Sergei Golovan (New Economic School) |
| Abstract: | The paper develops a model of growth driven by the acquisition of domestic firms by their peers, treating innovations endogenously. The model builds on microeconomic evidence concerning acquisitions in a technology economy, where the acquirers are innovative firms, which regard acquisitions as a complementary strategy to their R&D investments. The targets are small firms with leading positions on markets for their products. The acquirers are capable of further improving the products of their targets. The model includes the government, which collects corporate profit tax and redistributes it to provide subsidies for innovation and for acquisitions. We quantify the model using 1999-2013 financial data for Japanese firms, matched with patents obtained by the firms in that period. The estimates bear out the model's predictions of positive effect of acquisitions on economic growth. The impact of acquisitions on R&D intensity is negative under the substitutability between innovation and acquisition strategies. The effect of government subsidies to encourage acquisitions is linked to the parameters of the cost function and reflects the association between the cost of acquisitions and of R&D. |
| Keywords: | innovation, endogenous growth, acquisition, social planner, patents |
| JEL: | O11 O38 O40 O53 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:abo:neswpt:w0247&r=all |
| By: | S.O, Adeoye; M.U, Agbonlahor; Ashaolu, O.F.; Sodiya, C.I.; R.A, Sanusi |
| Keywords: | Farm Management, Labor and Human Capital |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:ags:naae17:288356&r=all |
| By: | Antonio Vezzani (European Commission - JRC); Petros Gkotsis (European Commission - JRC); Hector Hernandez (European Commission - JRC); Pietro Moncada Paterno Castello (European Commission - JRC) |
| Abstract: | In many EU countries, a high proportion of local inventions are owned by foreign companies. On the contrary, in few countries the number of patents owned is much higher than the local inventions. Companies from Germany and the US are the most frequent foreign owners of patents invented in EU countries. Concentration of patents across companies changes largely from one country to the other. Differences between local inventions and patent ownership, as well as their concentration within countries matter for Innovation policies aiming at closing the EU gap of knowledge creation and technology diffusion. |
| Keywords: | patents, inventor, ownership, technological innovation, innovation policy, industrial policy |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc116219&r=all |
| By: | Andrea Bastianin; Paolo Castelnovo; Massimo Florio; Anna Giunta |
| Abstract: | This paper contributes to the literature on the impact of Big Science Centres on technological innovation. We exploit a unique dataset with information on CERN's procurement orders to study the collaborative innovation process between CERN and its industrial partners. After a qualitative discussion of case studies, survival and count data models are estimated; the impact of CERN procurement on suppliers' innovation is captured by the number of patent applications. The fact that firms in our sample received their first order over a long time span (1995-2008) delivers a natural partition of industrial partners into "suppliers" and "not yet suppliers". This allows estimating the impact of CERN on the hazard to file a patent for the first time and on the number of patent applications, as well as the time needed for these effects to show up. We find that a "CERN effect" does exist: being an industrial partner of CERN is associated with an increase in the hazard to file a patent for the first time and in the number of patent applications. These effects require a significant "gestation lag" in the range of five to eight years, pointing to a relatively slow process of absorption of new ideas. |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1905.09552&r=all |