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on Small Business Management |
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Issue of 2013‒07‒15
ten papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Ejsing, Ann-Kathrine (Danish Insurance Association); Kaiser, Ulrich (University of Zurich); Kongsted, Hans Christian (University of Copenhagen); Laursen, Keld (Copenhagen Business School) |
| Abstract: | Scientific knowledge is an important ingredient in the innovation process. Drawing on the knowledge-based view of the firm and the literature on the relationship between science and technology, this paper scrutinizes the importance of university scientists' mobility for firms' innovative activities. Combining patent data and matched employer-employee data for Danish firms, we can track the labor mobility of R&D workers from 1999 to 2004. We find that new joiners contribute more than long-term employees to innovative activity in the focal firm. Among new firm recruits, we observe that newly hired former university researchers contribute more to innovative activity than newly hired recent graduates or joiners from firms, but only in firms with a high level of absorptive capacity in the form of recent experience of hiring university researchers. We find also that firms' recent experience of hiring university researchers enhances the effect of newly hired recent graduates' contributions to innovation. |
| Keywords: | innovative activity, science-technology relationship, labor mobility |
| JEL: | O33 O34 C23 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7470&r=sbm |
| By: | Francesco Quatraro; Marco Vivarelli |
| Abstract: | The aim of this paper is to provide an updated survey of the "state of the art" in entrepreneurial studies, with a particular focus on developing countries (DCs). In particular, the same concept of "entrepreneurship" will be critically discussed, then moving to the institutional, macroeconomic and microeconomic conditions affecting the entry of new firms and the post-entry performance of newborn firms. |
| Keywords: | entrepreneurship, new firm, innovation, development |
| JEL: | L26 O12 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2013-20&r=sbm |
| By: | Giulio Cainelli; Massimiliano Mazzanti; Alessio D'Amato |
| Abstract: | We present a joint theoretical-empirical investigation to assess the adoption by manufacturing firms of innovations aimed at increasing recycling and, consequently, reducing the use of material and waste in production processes. According to the recent emphasis on the 'external' factors stimulating innovation which often may be more important than the classic drivers, such as R&D, we address the role of local influences, such as policy environments and regional structural features. First, we analyse firms’ innovation adoption choices in a simplified technology adoption model augmented by discussions in the environmental innovation (EI) literature that rationalize the research hypotheses underlying empirical models. We frame our empirical analysis on an original integration of data from a firm survey (EU CIS2008 survey of manufacturing firms) and regional level waste related information obtained from Italian environmental agency waste reports. The EU CIS2008 was the first of these surveys to ask for information on EI adoption in the waste sector. Our econometric analysis shows that firms adopt EI on the basis of some relational factors, while drivers such as R&D have no impact. The evidence of our study supports the role of regional factors related to waste management and policy. For example, firms located in regions with better separated waste collection and waste tariff diffusion systems are more likely to adopt EI. Networking and agglomeration economies do not seem to have any effect. |
| Keywords: | waste and material reduction technology; innovation adoption; firm behaviour; waste policy; regional frameworks; agglomeration economies |
| JEL: | D22 Q53 Q55 |
| Date: | 2013–06–21 |
| URL: | http://d.repec.org/n?u=RePEc:udf:wpaper:2013162&r=sbm |
| By: | Degryse, Hans (BOFIT); Lu, Liping (BOFIT); Ongena, Steven (BOFIT) |
| Abstract: | The recent financial crisis has reopened the debate on the impact of informal and formal finance on firm growth in developing countries. Using unique survey data, we find that informal finance is associated with higher sales growth for small firms and lower sales growth for large firms. We identify a complementary effect between informal and formal finance for the sales growth of small firms, but not for large firms. Informal finance offers informational and monitoring advantages, while formal finance offers relatively inexpensive funds. Co-funding, i.e. the simultaneous use of formal and informal finance, is the optimal choice for small firms. |
| Keywords: | informal finance; formal finance; co-funding; growth |
| JEL: | G21 G32 P29 |
| Date: | 2013–06–18 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bofitp:2013_014&r=sbm |
| By: | Dong Xiang; Andrew C Worthington |
| Keywords: | small and medium-sized enterprises, government financial assistance, firm performance, availability of finance |
| JEL: | C25 L21 G32 |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:gri:fpaper:finance:201307&r=sbm |
| By: | Massimiliano Mazzanti; Davide Antonioli; Francesco Nicolli; Marianna Gilli |
| Abstract: | The paper investigates the extent to which the adoption of Information and Communication Technology (ICT) by firms affects the likelihood of adopting environmental innovations (EI). We also test empirically whether various types of ICT adoption and other innovation practices (R&D, techno-organizational change) are complementary inputs with respect to the introduction of specific environmental innovations. The analysis is based on two different data sources, which offer various views on ICT and EI relationships. The first draws upon the ICT and environmental innovations information contained in the EU Community Innovation Survey (CIS), the other on an original CIS like survey focusing on a large Italian industrial region, Emilia-Romagna. This survey contains information on the adoption of environmental innovations and some detailed information on ICT issues and other technological-organizational processes. We find that ICT adoption is robustly and positively correlated to EI in the EU. In addition, complementarity is characterizing the relationship between ICT and other innovation processes as a force behind EI, but it is not to be taken for granted. In fact, it appears a robust empirical fact with regard to general innovation capacity (R&D and ICT), though when we narrow down the focus to specific techno-organizational innovations, complementarity with ICT is rarely a pillar firm’s green strategies. Further research might focus on the complementarity between ICT and EI as an ‘asset’ promoting higher economic performances. |
| Keywords: | ICT; environmental innovations; complementarity; organizational change; CIS |
| JEL: | L60 O30 Q58 |
| Date: | 2013–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:udf:wpaper:2013132&r=sbm |
| By: | Jolanda Hessels; Peter van der Zwan; Mark Sanders |
| Abstract: | There is evidence that entrepreneurial activity plays a non-negligible role in driving economic development. In this paper we investigate whether the industry in which the entrepreneurial activity takes place matters for economic growth, both in developed and developing countries. We distinguish between three types of entrepreneurial activity, based on the technology intensity that is involved: entrepreneurship without any technology intensity, low technology entrepreneurship, and high technology entrepreneurship. Data from the Global Entrepreneurship Monitor are used to construct early-stage entrepreneurial activity rates for almost 70 countries and for 9 years (2001-2009). We first show that entrepreneurial activity is heavily concentrated in no-tech industries, even in advanced economies. In our regressions, we then find that entrepreneurial activity in high-tech industries creates more economic growth as compared to no-tech and low-tech industries. This stresses the importance of high-tech entrepreneurship; in addition, we show that entrepreneurs active in high-tech industries are higher educated and have higher job growth expectations than entrepreneurs in no-tech or low-tech industries. Practical implications are formulated in the concluding section. |
| Date: | 2013–04–23 |
| URL: | http://d.repec.org/n?u=RePEc:eim:papers:h201307&r=sbm |
| By: | Vivien Procher; Diemo Urbig; Christine Volkmann |
| Abstract: | For a sample of 1243 European companies, we analyse the link between firm type and foreign direct investment (FDI) locations. We find substantial empirical evidence that being a family firm does not only affect the overall propensity for FDI but that this effect is also specific to target regions. Overall, family firms invest more than managerial-led firms, particularly in Europe and North America. Furthermore the BRIC countries Brazil, Russia, India and China do not constitute a homogenous attractiveness cluster for FDI. |
| Keywords: | Foreign direct investment; family firms; BRIC |
| JEL: | D21 F23 L22 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0416&r=sbm |
| By: | Nadine Levratto; Denis Carré; Messaoud Zouikri |
| Abstract: | Ce texte cherche à déterminer si et dans quelle mesure le territoire fait partie des facteurs explicatifs de la création d’entreprises. Cette possibilité est étayée par le fait que le territoire est tout d’abord support d’infrastructures, de ressources et d’organisations. Il est également le lieu de concentration d’éléments plus invisibles et d’un milieu entrepreneurial qui orientent aussi les dynamiques de création. La nouveauté de la démarche proposée réside dans la comparaison entre le pouvoir explicatif de ces différents éléments pris isolément et l’effet géographique calculé à partir de la méthode structurelle-résiduelle. La démarche est appliquée à l’étude du taux de création d’entreprises des départements français en 2008. Elle montre qu’à côté des facteurs habituels liés aux caractéristiques de la population et des structures, la dynamique intrinsèque du territoire est un facteur explicatif de la performance entrepreneuriale et que son influence varie selon l’activité des entreprises nouvellement créées. |
| Keywords: | création d’entreprises, départements, effet géographique, facteurs invisibles |
| JEL: | L26 M13 R12 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2013-18&r=sbm |
| By: | Christian Ketels; Sergiy Protsiv |
| Abstract: | This paper outlines elements of a conceptual framework that clarifies the role that clusters play relative to government policies and actions of individual companies in supporting the emergence of 'High Road'-strategies that lead to better New Growth Path-related outcomes. It then focuses on creating a new set of data that can start shedding light on the empirical relevance of this framework. The first main section of the paper draws on a new set of employment and wage data across European clusters. The data is used to analyze whether cluster presence is significantly correlated with higher wages, which as an indicator of higher productivity, are likely to signal the presence of 'High Road'-strategies. We then take a closer look at the scale of the relationship relative to location-specific and other effects. We find cluster presence to be significantly related to higher wages, with the effect being moderate but meaningful. This suggest that cluster presence enhances the ability of economic activities to deliver high performance, but is unlikely to be able to substitute weak business environment conditions. The second section then deploys a wide range of regional performance data collected for the European Competitiveness Index and the European Cluster Observatory. We create indicators for New Growth Path performance and its main dimensions, and classify European regions by their performance patterns. This provides critical insights into the compatibility of the different economics, social, and ecological objectives pursued. We then relate these outcomes to the presence of strong cluster portfolios and strong business environment conditions. Both are most strongly associated with stronger economic outcomes, with lower impact on other dimensions of the New Growth Path. The third section creates a new dataset of cluster initiative intensity at the regional and cluster category-level. It also classifies close to 1000 cluster initiatives in Europe by their engagement in New Growth Path-related activities. We then deploy this data to test the impact of cluster initiatives on regional New Growth Path-performance. Overall, we find evidence consistent with clusters playing a role in making 'High Road'-strategies more likely to emerge. We also find evidence that European regions differ in their strategies towards these goals, with some being able to pursue all three dimensions in parallel. Cluster initiatives widely engage in New Growth Path-related activities, indicating their potential as a tool in mobilizing joint action in these areas. |
| Keywords: | Clusters, competitiveness, economic growth path, economic strategy, European economic policy, globalisation, industrial policy, new technologies, SMEs |
| JEL: | D04 L16 L52 R58 |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:feu:wfewop:y:2013:m:7:d:0:i:14&r=sbm |