|
on Small Business Management |
|
Issue of 2015‒02‒16
eleven papers chosen by João Carlos Correia Leitão Universidade da Beira Interior |
| By: | Tavassoli, Sam (Centre for Innovation, Research and Competence in the Learning Economy (CIRCLE), Blekinge Institute of Technology.); Karlsson, Charlie (Blekinge Institute of Technology, Jönköping International Business School & Centre of Excellence for Science and Innovation Studies (CESIS)) |
| Abstract: | This paper analyzes various innovation strategies of firms. Using five waves of the Community Innovation Survey in Sweden, we have traced the innovative behaviour of firms over a ten-year period, i.e. between 2002 and 2012. We distinguish between sixteen innovation strategies, which compose of Schumpeterian 4 types of innovations (process, product, marketing, and organizational) plus various combinations of these four types. First, we find that firms are not homogenous in choosing innovation strategies; instead, they have a wide range of preferences when it comes to innovation strategy. Second, using Transition Probability Matrix, we found that firms also persist to have such a diverse innovation strategy preferences. Finally, using Multinomial Logit model, we explained the determinant of each innovation strategies, while we gave special attention to the commonly used innovation strategies among firms. |
| Keywords: | innovation strategy; product innovations; process innovations; market innovations; organizational innovations; innovation strategies; heterogeneity; firms; persistence; Community Innovation Survey; Sweden |
| JEL: | D22 L20 O31 O32 |
| Date: | 2015–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0396&r=sbm |
| By: | Na, Cheongho; Kim, Eungdo; Hwang, Junseok |
| Abstract: | With the rapid development of ICT, smart society has been arrived. Smart devices also make user's role change and be powerful. In other words, user's power is stronger by smart devices in smart media industry and especially social environment like application market is catalyst for growth of user's role and power. On the other hand, it is hard for a firm to have all abilities and sources in this sudden change. Therefore, firms have to make their strategy considering user's role. For that reason, firms can use networks such as university, researcher, firm and user from the viewpoint of open innovation. I argue that users have some roles as one of the main agents in smart media industry affecting firm's strategy and performance. |
| Keywords: | Open innovation,smart media industry,strategy,performance,user’,s role |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsb14:106850&r=sbm |
| By: | Boeing, Philipp; Mueller, Elisabeth; Sandner, Philipp |
| Abstract: | In the past years Chinese firms increased their spending on R&D substantially and worked on achieving a higher quality level of R&D. We analyze whether different R&D activities show a positive influence on total factor productivity (TFP) for firms of different ownership types and across two time periods. Our panel dataset with annual information allows us to study listed firms over the two time periods 2001-2006 and 2007-2011. Privately owned enterprises (POEs) not only obtain higher returns from own R&D than majority and minority state-owned enterprises (SOEs), they are also able to increase their leading position. Overall strong increases in the size of patent stocks are related to a decreasingly positive or even vanishing influence on TFP. POEs not only produce R&D of the highest quality but are also the only ownership type profiting from higher quality. Up to now research collaborations allow almost no benefit with the only exception stemming from domestic collaborations with individuals. Our comprehensive analysis depicts strengths but also weaknesses of the corporate sector in China. We derive implications for the further development of economic policies. |
| Keywords: | productivity,R&D,China,ownership type,patents |
| JEL: | O32 O33 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:15006&r=sbm |
| By: | E. Carbonara; E. Santarelli |
| Abstract: | This paper provides empirical evidence supporting the view that constitutions may influence the organization of economic activities. Dealing with the issue of the institutional determinants of entrepreneurship, it shows that some of the provisions contained in national constitutions are positively and significantly associated to a standard measure of entrepreneurial dynamics, namely the rate of new business density. Using a novel dataset containing the characteristics of the constitutions enacted in the world and a sample of 115 countries, the paper finds that provisions about the right to conduct/establish a business, the right to strike, consumer protection, protection of trademarks, and education promote higher rates of new firm formation. |
| JEL: | D72 K10 H10 L26 M13 O50 P48 |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp991&r=sbm |
| By: | Diez, Federico J. (Federal Reserve Bank of Boston) |
| Abstract: | In recent years, it is argued, the level of entrepreneurial activity in the United States has declined, causing concern because of its potential macroeconomic implications. In particular, it is feared that a lower rate of firm creation may be associated with lower productivity growth and, hence, lower economic growth in the coming years. This paper studies the issue, focusing on the dynamics of entrepreneurship and productivity around the time of the Great Recession. The author looks first at the recent evolution of alternative measures of entrepreneurship and of productivity, and then analyzes the relationship between the two concepts. |
| Keywords: | entrepreneurship; firm creation; productivity; TFP |
| JEL: | D24 L26 O47 |
| Date: | 2014–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbcq:2014_008&r=sbm |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Sanandaji, Tino (Research Institute of Industrial Economics (IFN)) |
| Abstract: | The overwhelming majority of self-employed individuals are not entrepreneurial in the Schumpeterian sense. To unmistakably identify Schumpeterian entrepreneurs, we focus on self-made billionaires (in USD) from the Forbes Magazine list who became wealthy by founding new firms. In this way, we identify 996 billionaire entrepreneurs in over fifty countries during the 1996–2010 period. Interestingly, the rate of billionaire entrepreneurs per capita correlates negatively with self-employment rates. Countries with higher incomes, higher trust, lower taxes, more venture capital investment and lower regulatory burdens have higher entrepreneurship rates but less self-employment. Europe has a higher self-employment rate than the United States and East Asia. At the same time, Europe has a lower entrepreneurship rate than competitor regions. Europe underperforms in entrepreneurship despite having advantages such as a skilled labour force, good infrastructure, large markets and strong performance in technological innovation. |
| Keywords: | Entrepreneurship; Innovation; Institutions; Regulation; Self-employment |
| JEL: | L50 M13 O31 P14 |
| Date: | 2014–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1049&r=sbm |
| By: | Watzinger, Martin; Schnitzer, Monika |
| Abstract: | In this paper we measure knowledge spillovers arising from venture-capital nanced companies on the patenting activities of other companies and com- pare them to spillovers from established rms. We develop a novel measure to to identify the appropriate spillover pool based on backward citations which re ect channels for learning between rms. Using panel data of U.S. rms we show that venture capital investment in start-ups generates signi cant spillovers on the patent quantity and quality of other rms. Counterfactual estimates suggest that these spillovers are larger than those generated by corporate R&D. We address potential concerns about causality with an in- strumental variable strategy using changes in federal and state tax incentives as instrument for R&D and past fund raising as instrument for venture capital investment. |
| JEL: | O31 O32 G24 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc14:100318&r=sbm |
| By: | Ettore Bolisani (University of Padua, Vicenza, Italy); Enrico Scarso (University of Padua, Vicenza, Italy); Malgorzata Zieba (Gdansk University of Technology, Gdansk, Poland) |
| Abstract: | This paper examines the concept of emergent KM approach in small companies. The origins of consideration are grounded in the theory of strategic management literature and in particular in the distinction between deliberate versus emergent approach towards strategic planning. Using the methodology of case study, we carried out an explorative research to analyse the characteristics of KM approach in two small companies located in Italy and Poland. Both companies appeared to follow emergent KM approach and therefore, a detailed analysis of this phenomenon was feasible. A description of the main features of an emergent KM approach is then proposed. On the basis of research results, implications for both managers and researchers are discussed. |
| Keywords: | knowledge management; KM; SMEs; ICT services providers; Italy; Poland |
| JEL: | L84 M1 |
| Date: | 2015–01 |
| URL: | http://d.repec.org/n?u=RePEc:gdk:wpaper:27&r=sbm |
| By: | Sorgner, Alina; Fritsch, Michael; Kritikos, Alexander |
| Abstract: | We compare, based on German data, the income of self-employed individuals with and without employees with the income of dependently employed individuals. Our results show that self-employed with employees tend to earn significantly higher incomes than their salaried counterparts, while with the exception of solo-entrepreneurs without vocational degree - the income of solo self-employed tends to be significantly lower than that of comparable employees. We also observe that self-employed people are able to improve their earnings within the first three years after start-up, when we compare their actual earnings to their income before the start-up. |
| JEL: | L26 D22 D31 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc14:100449&r=sbm |
| By: | Laurin Janes |
| Abstract: | Using data from a randomized control trail in Sri Lanka, this paper explores whether cash and in-kind grants helped microenterprises approach the productivity level of SMEs. The paper first estimates production functions and subsequently treatment effects on TFP levels. Most significantly, more able and more risk-averse owners benefit from the larger in-kind grant. Also, the larger in-kind grants allowed for increases in productivity to the least productive firms. The paper then uses data from a representative sample of formal firms to put the TFP levels and treatment effects in the microenterprises into perspective. The results suggest that the least productive firms were able to catch up with the average microenterprise and formal SMEs, while a gap remains with large firms. This finding encourages a positive view of the potential for productivity growth in microenterprises. |
| Keywords: | Economic development, microenterprises, formal informal, total factor productivity, embodied technology |
| JEL: | L25 O12 O14 O17 O33 |
| Date: | 2013–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:wps/2013-18&r=sbm |
| By: | Richard T. Thakor; Andrew W. Lo |
| Abstract: | R&D-intensive firms such as biotechnology and pharmaceutical companies follow very different corporate financial policies from firms in less R&D-intensive industries. To account for these differences, we propose an equilibrium model for such firms in which their capital structure, amount of R&D investment, and information disclosure policy are all endogenously determined in response to the degree of competition in the industry. The key results are that, as competition increases, such firms will: (1) increase R&D investment and reduce investment in assets-in-place that support existing products; (2) carry more cash and maintain less net debt; and (3) experience declining betas but greater total stock return volatility due to higher idiosyncratic risk. While the focus is on the biopharmaceutical industry, the results are broadly applicable to other R&D-intensive industries as well. We confirm the model's empirical implications using historical data from the biopharmaceutical industry, and our tests also deal with the endogeneity issue introduced by the fact that a firm's R&D investments and the product-market competition it faces influence each other. |
| JEL: | D82 D83 G31 G32 L11 L15 L25 L65 |
| Date: | 2015–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:20903&r=sbm |