|
on Small Business Management |
|
Issue of 2013‒12‒20
seven papers chosen by Joao Carlos Correia Leitao Universidade da Beira Interior and Universidade de Lisboa |
| By: | Mariana Mazzucato (SPRU, University of Sussex, UK); Stuart Parris (Faculty of Economics, Open University, UK) |
| Keywords: | R&D, Growth, Venture capitalist, quantile regression, pharmaceutical industry |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2013-16&r=sbm |
| By: | Hottenrott, Hanna; Lopes-Bento, Cindy |
| Abstract: | This study shows for a large sample of R&D-active manufacturing firms over the period 2000-2009 that knowledge alliances have a positive effect on patenting in terms of both quantity and quality. However, when distinguishing between alliances that aim at joint creation of new knowledge and alliances that aim at the exchange of knowledge, results suggest that creation alliances lead to more valuable patents as they receive significantly more forward citations per patent. Knowledge exchange alliances, on the other hand, are associated with patent quantity, but not quality. -- |
| Keywords: | Knowledge Alliances,Patents,Innovation,R&D,Count Data Models |
| JEL: | O31 O32 O33 O34 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:122&r=sbm |
| By: | Hottenrott, Hanna; Lopes-Bento, Cindy |
| Abstract: | This study analyses the impact and effectiveness of targeted public support for R&D investment at the firm level. We test whether the policy design aiming at incentivizing (international) collaboration and R&D in SMEs achieves input as well as output additionality. Our results show that the targeted public subsidies trigger R&D spending, especially so in internationally collaborating SMEs. We further evaluate the different impact of privately financed and publicly-induced R&D investment on innovation performance. The results confirm that the publicly-induced R&D is productive as it translates into marketable product innovations. While both types of R&D investments trigger significant output effects, the effect of policyinduced R&D investment on sales from market novelties is highest for international collaborators as well as for SMEs. -- |
| Keywords: | Public Innovation Policy,Subsidies,R&D,SMEs,International Collaboration,Treatment Effects |
| JEL: | C14 C30 H23 O31 O38 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:121&r=sbm |
| By: | Oriana Bandiera; Andrea Prat; Raffaella Sadun |
| Abstract: | CEOs affect the performance of the firms they manage, and family CEOs seem to weaken it. Yet little is known about what top executives actually do, and whether it differs by firm ownership. We study CEOs in the Indian manufacturing sector, where family ownership is widespread and the productivity dispersion across firms is substantial. Time use analysis of 356 CEOs of listed firms yields three sets of findings. First, there is substantial variation in the number of hours CEOs devote to work activities, and longer working hours are associated with higher firm productivity, growth, profitability and CEO pay. Second, family CEOs record 8% fewer working hours relative to professional CEOs. The difference in hours worked is more pronounced in low-competition environments and does not seem to be explained by measurement error. Third, difference in differences estimates with respect to the cost of effort, due to weather shocks and popular sport events, reveal that the observed difference between family and professional CEOs is consistent with heterogeneous preferences for work versus leisure. Evidence from six other countries reveals similar findings in economies at different stages of development. |
| Keywords: | CEO, Time, Family firms, Competition, Productivity |
| JEL: | M12 L2 D24 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1250&r=sbm |
| By: | Asongu Simplice (Yaoundé/Cameroun) |
| Abstract: | Purpose – In a meta-study, we have bridged the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. We assess the degree of heterogeneity and identify causes of the observed differentiation. Findings – Our findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias and, effects of financial activity. A historical justification has also been discussed. Practical implications – Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value – Very few meta-analysis studies have focused on the finance-growth nexus. |
| Keywords: | Meta analysis; Finance; Economic growth; Publication bias |
| JEL: | C1 C4 E0 O0 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:13/029&r=sbm |
| By: | Vicente Salas-Fumas (Faculty of Economics, University of Zaragota, Spain); J. Javier Sanchez-Asin (Faculty of Economics, University of Zaragota, Spain); David Storey (School of Business Management and Economics, University of Sussex, UK) |
| Keywords: | Occupational choice, Self-employment, entrepreneurship, entrepreneural skills, Spanish economy |
| JEL: | J24 L26 D24 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2013-13&r=sbm |
| By: | Ross Levine; Yona Rubinstein |
| Abstract: | Smart teenagers who engage in illicit activities are much more likely to become entrepreneurs, according to research by Ross Levine and Yona Rubinstein. But, they note, being self-employed doesn't necessarily make someone an entrepreneur: recognising this distinction has enabled them to detect both the key characteristics of successful entrepreneurs and the true rewards to their innovations. The incorporated self-employed earn much more per hour and work many more hours than people on salaries and the unincorporated self-employed. To measure illicit activities, the study uses survey data on skipping school, using alcohol and marijuana, vandalism, shoplifting, drug dealing, robbery, assault and gambling. The point is not that these are desirable activities or that parents should help their kids get involved in them to encourage entrepreneurship: rather, they can be used to gauge someone's inclination to build and lead a successful and innovative business. |
| Keywords: | Self-employment, Occupational choice, Compensation, Firm organization, Corporate finance, Cognitive and Noncognitive traits |
| JEL: | L26 J24 J3 G32 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:399&r=sbm |