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on Project, Program and Portfolio Management |
| By: | Nishimura, Junichi; Okamuro, Hiroyuki |
| Abstract: | Subsidy and networking: The effects of direct and indirect support programs in the cluster policy Industrial clusters have attracted considerable attention worldwide for regional innovation. Thus, policymakers in various countries have recently developed their specific cluster policies. However, there are few empirical studies yet on cluster policies. This paper empirically evaluates the “Industrial Cluster Project” (ICP) initiated by the Ministry of Economy, Trade and Industry (METI) in 2001, using original questionnaire data. We address two research questions on the effect of the ICP: if the participants of this project that exploit various support programs are more successful in alliance/network formation within the cluster than the others, and which kind of support program of the ICP contributes to firm performance. Different from similar preceding projects, the ICP aims at the autonomous development of regional industries and comprises both direct R&D support and indirect networking/coordination support. The main idea of public support of local firms clearly shifted toward networking and coordination for those who can help themselves. Thus, our special attention is paid to the differences between the direct R&D support and indirect networking/coordination support, which bring out the conditions necessary for the effective organization of cluster policies for improving firm performance. Our empirical evaluation is based on a sample of 511 firms from a recent original survey. We first employ the propensity score and the difference-in-differences (DID) estimation to analyze the degree of alliance/network formation before and after participating in the ICP. Then we use Heckman’s two-step procedure and the negative binomial model to examine the effects of support programs on firm performance. The estimation results suggest that cluster participants that exploit support programs (especially indirect support measures) expand industry-university-government network after participating in the ICP. Moreover, we find that not every support program contributes to firm performance, thus firms should select the most effective program according to their aims. Indirect support programs have an extensive and strong impact on outputs, especially innovation outcomes, while direct R&D support has a weak effect except for R&D subsidy. |
| Keywords: | Cluster policy, industrial cluster, R&D support, subsidy, networking |
| JEL: | O25 O38 R11 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:hit:ccesdp:24&r=ppm |
| By: | Materia, Valentina Cristiana; Esposti, Roberto |
| Abstract: | This paper analyses, through a Random Utility Model (RUM), how a public institution selects among competitive agricultural R&D projects on the basis of observable distinctive features. In particular, we aim at verifying if, which and how other criteria, beyond the pure scientific value, are decisive for selection. From such information, like cost, duration, etc., the institution must infer about the unobservable actual ability, effort and reliability of the scientists themselves. Such analytical framework is empirically applied to a real case, the agricultural R&D activity funded by the Emilia-Romagna Region (Italy) between 2001 and 2006. |
| Keywords: | Public Agricultural R&D Funding, Random Utility Model, Logit Model, Agribusiness, Community/Rural/Urban Development, Public Economics, |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ea113a:57642&r=ppm |
| By: | Jan van der Borg (Department of Economics, University Of Venice Cà Foscari); Erwin van Tuijl (Erasmus University Rotterdam); Alessandro Costa (Sino-Italian Cooperation Program for Environmental Protection) |
| Abstract: | After reading Richard Florida’s work (e.g. Florida, 2003) on the creative industry and on the importance of the creative class for urban development in post-industrial economies, many cities in Europe and the USA have started to invest in creativity in general and in design in particular. Much less is known about the role of creativity in industrial economies. This paper analyses the role of design in the economic and social development of China’s political and cultural capital Beijing. We will try to identify the main success factors and barriers for the design business and show how design can be further used for social and economic development of the city. Backed up by conspicuous state investments and by fast decision making, industrial areas have been transformed and neighbourhoods have been revitalised, infrastructure has been upgraded, and some modern iconic landmarks are added to the collection of old monuments. Moreover, priority has changed from “Made in China” to “Create in China”, allowing economic activities to move upwards in the value chain. Nevertheless, and despite the presence of key research and art institutes, further developments of the design sector and the use of design in other (manufacturing) sectors will still be a huge challenge. |
| Keywords: | Creative Industry, Design, Urban Development, Industrial Economy, Beijing, China |
| JEL: | P21 R11 R30 R38 R53 Z11 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2010_03&r=ppm |
| By: | Ignacio Velez Pareja; Joseph Tham |
| Abstract: | This teaching note is devoted to the definition and calculation of cash flows, namely, cash flow to debt, (CFD), cash flow to equity, (CFE), capital cash flow, (CCF), tax savings, (TS) and free cash flow, (FCF). We use the direct and the indirect methods to derive the relevant cash flow profiles for the different stakeholders. These cash flows are the basis for the valuation of a firm or project. |
| Date: | 2010–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:col:000162:006738&r=ppm |