|
on Project, Program and Portfolio Management |
| By: | Correa, Paulo; Andres, Luis; Borja-Vega, Christian |
| Abstract: | This paper applies meta-analysis techniques to a sample of 37 studies published during 2004-2011. These papers assess the impact of direct subsidies on business research and development. The results show that the effect of public investment on research and development is predominantly positive and significant. Furthermore, public funds do not crowd out but incentivize firms to revert funds into research and development. The coefficient of additionality impacts on research and development ranges from 0.166 to 0.252, with reasonable confidence intervals at the 95 percent level. The results are highly sensitive to the method used. The high heterogeneity of precision is explained by the wide variety of methodologies used to estimate the impacts and paper characteristics. |
| Keywords: | Scientific Research&Science Parks,Science Education,E-Business,Statistical&Mathematical Sciences,Teaching and Learning |
| Date: | 2013–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6532&r=ppm |
| By: | Gul, Ejaz |
| Abstract: | Investment in long lived projects such as buildings are characterized by uncertainties regarding project life, operation and maintenance costs, revenues and other factors that affect project economics. Since the exact values of these variable factors are usually unknown, it is difficult to make economic evaluations with a high degree of reliability. A common approach to project investment analysis is to apply the economic methods for estimates of project input variables and to present results in single value, deterministic terms. Yet failures to account for uncertain input variables expose the decision makers to risk. Current research is about quantifying the economic risk exposure of the projects and willingness of investors to take a chance on an investment of uncertain outcome based on risk attitude. Paper explains typical investment situations of decision makers who do not know with certainty the outcome of their investment and illustrates with probability distribution a way of measuring risk exposure and introduces the use of utility functions to determine a decision maker’s risk attitude. It is concluded from the study that to determine the true value of investments for risk takers, economic analysis must account for increasing marginal satisfaction of higher payoffs with corresponding increases in marginal utility. A firm or institution can use utility theory in a normative or prescriptive role to establish risk policy for investments that support the firm’s or institution’s risk attitude. Overall the paper provides a useful study on economic risk exposure of projects and risk attitudes of investors in Monrovia, the capital of Liberia. |
| Keywords: | Investment, economic, risk exposure, probability function, risk attitude, utility function. |
| JEL: | G30 G32 |
| Date: | 2013–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48221&r=ppm |
| By: | Gul, Ejaz |
| Abstract: | Selection of suitable site for construction project is essential since it has strong linkage with service life of the project. Recent fast developments in construction technology consider only the technical suitability of the project site but ignore the economic suitability. There can be many instances when a site may be suitable from technical point but not from economic point of view and vice versa. This research is about finding economic suitability of three different project sites located in Liberia. Cardinal approach was used for the study. A multi-prong comprehensive research methodology was adopted to accomplish the task. Detail economic features of each site were studied and thorough economic evaluation was carried out. Finally, based on economic factors, an economic suitability map was created for the area with the latest and state of the art computer software. The research is first of its kind to map the features of economic evaluation. |
| Keywords: | Economic ssuitability; Project Site; Cardinal aapproach; Evaluation; Economic factors; Suitability map |
| JEL: | O18 O22 O55 |
| Date: | 2013–07–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48283&r=ppm |
| By: | Stuetzer, Michael; Obschonka, Martin; Davidsson, Per; Schmitt-Rodermund, Eva |
| Abstract: | Applying Lazear’s jack-of-all-trades theory we investigate the formation of entrepreneurial skills in two datasets on innovative new firms. Our results suggest that traditional human capital indicators individually have little or no influence on entrepreneurial skills. However, consistent with Lazaer’s theory those entrepreneurs who exhibit a varied set of work experience have higher entrepreneurial skills relevant for starting and growing a firm. This supports the notion that a varied set of work experiences rather than depth of any particular type of experience or education is important for the development of entrepreneurial skills. |
| Keywords: | Entrepreneurial skills; jack-of-all trades; new venture creation; human capital |
| JEL: | J24 L26 M13 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48274&r=ppm |
| By: | Butler, Jeffrey V. (EIEF); Carbone, Enrica (Second University of Naples "SUN"); Conzo, Pierluigi (University of Turin); Spagnolo, Giancarlo (Stockholm School of Economics - SITE, University of "Tor Vergata" & CEPR) |
| Abstract: | There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice in private procurement, may hinder entry by new firms in public procurement markets. In this paper we report results from a laboratory experiment exploring the relationship between reputation and entry in procurement. We implement a repeated procurement model with reputation for quality and the possibility of entry in which the entrant may start off with positive reputation. Our results suggest that while some past-performance based reputational mechanisms can reduce the frequency of entry, appropriately designed mechanisms significantly stimulate it. We find that our reputational mechanism increases quality but not prices, so that the introduction of this kind of mechanism may generate large welfare gains for the buyer. |
| Keywords: | Cross-border procurement; Entry; Feedback mechanisms; Incomplete contracts; Limited enforcement; Incumbency; Multidimensional competition; Outsourcing; Past performance; Procurement; Quality assurance; Small business subsidies; Reputation; Vendor rating |
| JEL: | H57 L14 L15 |
| Date: | 2013–05–15 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:kkveco:2013_003&r=ppm |