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on Small Business Management |
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Issue of 2012‒11‒24
twelve papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Davide Fantino (Bank of Italy); Alessandra Mori (Bank of Italy); Diego Scalise (Bank of Italy) |
| Abstract: | In the last decade R&D expenditure in Italy has been lagging at a bare 1.2-1.3 per cent of GDP. Its private share is low by international standards and Italian firms take out only a small number of patents. External sources of innovation, however, are available to firms. This work aims at examining the determinants of research collaboration between firms and universities using the results of the 15th Bank of Italy Business Outlook Survey on Firms, together with data on the quality and importance of university research. Controlling for endogeneity problems, we show that the distance from top research centres is the most important factor in determining the probability of collaboration. Other results indicate that the presence of different innovation sources increases the probability of collaboration; and that proximity is more important for small- and medium-sized firms, while larger ones collaborate with universities that are better able to sell the results of their research, regardless of their location. Sector effects also emerge from the analysis. |
| Keywords: | research collaboration, innovation, R&D expenditure, technology transfer |
| JEL: | L24 O31 O32 R12 |
| Date: | 2012–10 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_884_12&r=sbm |
| By: | Najda-Janoszka, Marta |
| Abstract: | This article presents an analysis of the impact of virtualization process on competitiveness of small and medium sized firms. The developed methodology for measuring the level of organizational virtualness has been effectively applied to a wide range of businesses, both large and the smallest companies representing traditional and high-technology sectors. Through statistical analysis it has been confirmed that virtualization process has a positive impact on competitiveness of companies. However, not all theoretically assumed pathways of such impact have been observed. Presented results and conclusions of the examination give a new perspective for discussion about challenges of effective implementing virtual organization concept into business practice |
| Keywords: | virtualization process; competitiveness; virtual organization; SME |
| JEL: | M20 |
| Date: | 2011–10–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:42581&r=sbm |
| By: | Cristini, Annalisa (University of Bergamo); Eriksson, Tor (Aarhus School of Business); Pozzoli, Dario (Aarhus University) |
| Abstract: | High-performance work practices are frequently considered to have positive effects on corporate performance, but what do they do for employees? After assessing the correlation between organizational innovation and firm performance, this article investigates whether high-involvement work practices affect workers in terms of wages, wage inequality and workforce composition. The analysis is based on a survey directed at Danish firms matched with linked employer-employee data and also examines whether the relationship between high-involvement work practices and employee outcomes is affected by the industrial relations context. |
| Keywords: | workplace practices, wage inequality, workforce composition, hierarchy |
| JEL: | C33 J41 J53 L20 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp6984&r=sbm |
| By: | Köhler, Christian; Rammer, Christian |
| Abstract: | Buyer power is widely considered to decrease innovation incentives of suppliers. However, there is little empirical evidence for this statement. Our paper analyses how buyer power influences innovation incentives of upstream firms while taking into account the type of competition in the downstream market, namely price and technology. We explore this relationship empirically for a unique dataset containing 1,129 observations of German firms from manufacturing and service sectors including information on the economic dependency of firms from their buyers. Using a generalised Tobit model, we find a negative effect of buyer power on a supplier's likelihood to start R&D activities. This negative effect is mitigated if the supplier faces powerful buyers operating under strong price competition. There is also weak evidence for a negative effect of buyer power on suppliers' R&D intensity if the powerful buyer operates under strong technology competition. -- |
| Keywords: | Innovation,Buyer Power |
| JEL: | L11 O31 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:12058&r=sbm |
| By: | Timo Mitze; Falk Strotebeck |
| Abstract: | We analyse the determinants of network formation in Germany’s biotechnology industry using social network analysis combined with a regression approach for count data. Outcome variable of interest is the degree centrality of German regions, which is specified as a function of the region’s innovative and economic performance as well as biotech-related policy variables. The inclusion of the latter allows us to shed new light on the question to what extent R&D-based cluster policies are able to impact on the formation of the German biotech network. Our results show that policy indicators such as the volume of public funding for collaborative R&D activity are positively correlated with the region’s overall and interregional degree centrality. However, besides this direct funding effect, we do not observe any further (non-pecuniary) advantages such as prestige or image effects. Regarding the role played by locational factors as elements of the sector-specific and broader regional innovation system, we find that the number of biotech patent applications, the share of regional hightech start-ups and the population density among other factors are positively correlated with the region’s position in the German biotechnology network. |
| Keywords: | Biotechnology; network formation; degree centrality; R&D policy |
| JEL: | C21 R38 |
| Date: | 2012–10 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0374&r=sbm |
| By: | Gutierrez, Juan Julio; Correa, Paulo |
| Abstract: | This paper explores fundamental issues affecting technology commercialization of publicly funded research and development (R&D) in the Russian Federation. Despite substantial R&D investments, Russia has experienced a decline in scientific output and employment. Nevertheless, the innovation system remains strong in several technological fields. This paper develops an analytical framework to discuss conditions for technology commercialization, which hinge on the innovation system research base, governance of research institutions, alignment between specialization and sector prioritization, availability and performance of scientists and engineers, intellectual property (IP) regime for publicly funded discoveries, and early stage finance. The paper identifies areas for policy and regulatory improvement to incentivize research institutes and scientists to undertake research with market potential. These include: stronger results-based management that rewards commercialization efforts and focuses not only on high-technology sectors, but also on sectors where Russia has technological comparative advantages. In addition, researchers'career development could consider performance metrics that include entrepreneurial achievements, as well as support for young scientists and for international collaboration. Moreover, the IP regime for federally funded R&D may consider transferring full ownership of research discoveries to research organizations. Finally, to increase deal-flow of new ventures, enhancing the supply of early-stage financing for new technologies may be considered. |
| Keywords: | Tertiary Education,E-Business,ICT Policy and Strategies,Scientific Research&Science Parks,Science Education |
| Date: | 2012–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6263&r=sbm |
| By: | Tjandrawinata, Raymond R.; Simanjuntak, Destrina Grace |
| Abstract: | This paper analyzes the impact of mergers and acquisitions (M&A) activities in research-based pharmaceutical companies, specifically the impact of R&D expenditure, profitability, and sales revenue on firms’ productivity, R&D intensity, in pharmaceutical industries following M&A activities. The model was estimated using annual data, gathered from seven large research-based pharmaceutical companies pre and post-M&A, during the period 2003 until 2010. The regression analysis method uses a fixed effect method with generalized least square (GLS) analysis. The result further shows that following M&A activities, firms’ one-year lagged R&D expenditure (t-1) and lagged profitability (t-1) to be positive in increasing significantly the firms’ amount of R&D intensity in research-based pharmaceutical industries, while, surprisingly firms’ one-year lagged sales revenue (t-1) have a negative impact in increasing significantly the firms’ amount of R&D intensity in research-based pharmaceutical industries. |
| Keywords: | Mergers and Acquisitions (M&A); R&D Expenditure; Profitability; Sales Revenue; R&D Intensity |
| JEL: | D21 D24 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:42514&r=sbm |
| By: | Contò, Francesco; Fiore, Mariantonietta; Antonazzo, Anna Paola; La Sala, Piermichele |
| Abstract: | The project targets the Axis 1 of the European territorial cooperation INTERREG program Greece-Italy 2007-2013. The project was born with the aim of strengthen the presence of the local agri-food SMEs on the foreign markets, enhancing innovation processes through an economic and coordinated cooperation so to ease the internationalization processes of the two targeted areas. After a literature review, we analyzed the economic context of Apulia Region; then we proceed to the definition of a model for the internationalization of SMEs Agro-food of Puglia through the constitution of scientific and technological incubators that will network to deliver innovative services for the internationalization of the agri-food system. The final aim is to develop innovative services of marketing intelligence (MI) to spread knowledge and information about the international markets and the creation and implementation of databases for the search and classification of informative sources. |
| Keywords: | Internationalization; Innovation; Marketing Intelligence; Agro-food sector |
| JEL: | O17 Q17 Q13 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:42526&r=sbm |
| By: | Benoit Desmarchelier (CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS : UMR8019 - Université Lille 1 - Sciences et Technologies); Faridah Djellal (CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS : UMR8019 - Université Lille 1 - Sciences et Technologies); Faïz Gallouj (CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS : UMR8019 - Université Lille 1 - Sciences et Technologies) |
| Abstract: | The goal of this paper is to (re)assess the relationship between knowledge intensive busi- ness services (KIBS) and the economic growth. Taking into account various conflicting relationships between KIBS and growth, we build a multi agent-based system involving industrial firms, consumer-services firms, consumers, KIBS firms and a banking system. Our main result is that KIBS can be regarded as an engine for the economic growth and that they operate as a substitute for the material capital accumulation. Nevertheless, material capital accumulation still appears as a significant factor of economic growth. |
| Keywords: | Economic growth, Business services, Structural change |
| Date: | 2012–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00748661&r=sbm |
| By: | Francesco LISSONI (GREThA, CNRS, UMR 5113); Michele PEZZONI (KITeS, University of Bocconi); Bianca POTI (CERIS-CNR); Sandra ROMAGNOSI (Parco Scientifico Università \"Tor Vergata\") |
| Abstract: | Using data on patent applications at European Patent Office, we search for trends in academic patenting in Italy, 1996-2007. During this time, Italian university underwent a radical reform process, which granted them autonomy, and were confronted with a change in IP legislation, which introduced the professor privilege. We find that, although the absolute number of academic patents has increased, (i) their weight on total patenting by domestic inventors has not, while (ii) the share of academic patents owned by universities has increased. By means of a set of probit regressions, we show that the probability to observe an academic patent depends largely on the technology considered and characteristics of the local innovation system. After controlling for these determinants, the conditional probability to observe an academic patent has indeed declined over time. Also by means of probit regressions, we find that the rise of university ownership is explained, significantly albeit not exclusively, by the increasing share of public vs. private R&D and by the increased autonomy of Italian universities, which has allowed them to introduce explicit IP regulations concerning their staff\'s inventions. The introduction of the professor privilege has had no impact at all. |
| Keywords: | academic patenting, university autonomy, professor privilege |
| JEL: | I23 O31 O34 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:grt:wpegrt:2012-26&r=sbm |
| By: | Massimiliano Bratti (University of Milan); Giulia Felice (Centro Studi Luca d\'Agliano) |
| Abstract: | Recent empirical studies have reported strong firm-level evidence of `learning by exporting\' in product innovation. In this paper we consider a specific channel which might contribute to explain the innovation premium of exporters, by focussing on the information exchange between firms establishing buyer-supplier relationships related to production to order (PTO). Using new European firm-level data, we first provide some descriptive evidence that suppliers doing PTO for foreign firms are more innovative than suppliers producing only for domestic rms. We rationalize this evidence in a theoretical framework where firms are heterogeneous in the characteristics of their products and where buyers, searching for a specialized input, have to match either with a domestic or with a foreign supplier in order to produce a final good. A successful match requires the intermediate good\'s adaptation/modification (`innovation\') which can be carried out either by the buyer or by the supplier. In a framework where information is imperfect and contracts are incomplete, we single out the conditions for which different internationalization and innovation strategies are implemented, and in particular suppliers are likely to adapt their products for foreign buyers (i.e., `learning by exporting\'). Our results are driven by the interplay between the innovation costs\' structure, the internationalization costs and the density of suppliers in the different countries. |
| Keywords: | Exporting, firm behavior, product innovation, production to order |
| JEL: | D21 D22 F10 L23 L25 O31 |
| Date: | 2012–11–13 |
| URL: | http://d.repec.org/n?u=RePEc:csl:devewp:327&r=sbm |
| By: | Kremp, E.; Sevestre, P. |
| Abstract: | This paper focuses on the access of independent French SMEs to bank lending and analyzes whether the observed evolution of credit to SMEs over the recent period was "demand driven" as a result of the decrease in firms' activity and investment projects or was "supply driven" with an increase in credit "rationing" stemming from a more cautious behavior of banks. Based on a sample of around 60,000 SMEs, we come to the conclusion that, despite the stronger standards used by banks when granting credit, French SMEs do not appear to have been strongly affected by credit rationing since 2008. This result goes against the common view that SMEs suffered from a strong credit restriction during the crisis but is perfectly in line with the results of several surveys about the access to finance of SMEs recently conducted in France. |
| Keywords: | Credit rationing, disequilibrium model, SME. |
| JEL: | E51 G21 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:405&r=sbm |