|
on Small Business Management |
|
Issue of 2015‒12‒28
twenty-six papers chosen by João Carlos Correia Leitão Universidade da Beira Interior |
| By: | Uwe Cantner (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Holger Graf (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Susanne Hinzmann (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | The role of geographical proximity in fostering connections and knowledge flows between innovative actors ranks among the most controversial themes in the research of innovation systems, regional networks and new economic geography. While there is ample empirical evidence on the constituent force of co-location for the formation of research alliances, little attention has been paid to the actual consequences of geographical concentration of alliance partners for the subsequent performance of these linkages. In this paper we address this underexplored issue and aim to complement the rare examples of studies on the relevance of geographical proximity for research outputs. We utilize original and unique survey data from collaborative R&D projects that were funded within the "Leading-Edge Cluster Competition" - the main national cluster funding program in Germany in recent years. We find that the perception of the necessity of spatial proximity for project success is rather heterogeneous among the respondents of the funded projects. Moreover, the relationship between geographical distance and project success is by no means univocal and is mediated by various technological, organizational and institutional aspects. Our findings strongly support the assumption that the nature of knowledge involved determines the degree to which collaborators are reliant on being closely located to each other. The relevance of spatial proximity increases in exploration contexts when knowledge is novel and the innovation endeavor is more radical while this effect is less pronounced for projects with a stronger focus on basic research. Moreover, geographical proximity and project satisfaction foster cross- fertilization effects of LECC projects. |
| Keywords: | geographical proximity, collaboration, performance, innovation policy |
| JEL: | O3 O38 L14 R1 |
| Date: | 2015–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2015-025&r=sbm |
| By: | Tobias Ebert (Philipps-University of Marburg, Economic Geography and Location Analysis, Deutschhausstrasse 10, 35032 Marburg, Germany); Thomas Brenner (Philipps-University of Marburg, Economic Geography and Location Analysis, Deutschhausstrasse 10, 35032 Marburg, Germany); Udo Brixy (Institute of Employment Research (IAB), Nuremberg, Germany and Department of Geography, Ludwig-Maximilians University, Munich, Germany) |
| Abstract: | This paper provides evidence that the effect of agglomeration externalities on survival is moderated by the start-up’s innovative behavior. It is shown that localization externalities are prevalent particularly in non-high-tech environments and unfold a positive influence on survival for less innovative companies, while their highly innovative counterparts do not benefit or even suffer from spatial concentration. On the contrary, highly innovative high-tech start-ups benefit from a diverse economic structure which enhances their likelihood for survival by fostering the emergence of beneficial inter-industry spill-overs. |
| Keywords: | Firm survival, Innovation, Externalities |
| JEL: | D22 L26 O33 R11 |
| Date: | 2015–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:pum:wpaper:2015-05&r=sbm |
| By: | Schäfer, Dorothea (DIW Berlin and CeFEO at Jönköping International Business School); Stephan, Andreas (Jönköping International Business School and CESIS at KTH Stockholm); Mosquera, Jenniffer Solórzano (Jönköping International Business School) |
| Abstract: | Using the 2007 Mannheim innovation survey, we investigate whether family firms are more financially constrained than other firms and how this affects both innovation input as well as innovation outcomes such as market and firm novelties or process innovations. Based on the CDM framework, estimation of the recursive system of equations shows that family businesses are more likely to be constrained and have, on average, lower innovation input. Surprisingly, however, this does not reduce their innovation outcomes as, on average, family firms have the same level of innovation outcomes as nonfamily firms. |
| Keywords: | Innovation; Capability; Financing Constraints; Family Firms; CDM |
| JEL: | D30 G32 O32 |
| Date: | 2015–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0425&r=sbm |
| By: | Anissa Chaibi (IPAG Business School, Paris - GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS - Centre National de la Recherche Scientifique); Adel Ben Youssef (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS - Centre National de la Recherche Scientifique); Leila Peltier-Ben Aoun (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper provides original empirical evidence on the causal links between e-skills, usage of Information and Communication Technologies (ICT) and firm's performance using a sample of Luxembourgian manufacturing and services firms. Firm performance is measured in terms of innovation (success of new projects settled). Our main findings are: (i) there's no relationship between the absorptive technology capacity of the firm (measured by ICT staff and Training) and the probability of the implementation of successful ICT projects, (ii) there is a positive effect of e-applications usage (ICT usage) on the probability of the implementation of successful new projects, and (iii) there is an asymmetric effect of usage of e-commerce and e-administration confirming findings of the recent literature |
| Keywords: | Innovative projects,Ordered models,Innovation,Usage of ICT,Depth of ICT adoption |
| Date: | 2015–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01068225&r=sbm |
| By: | Luigi Guiso; Luigi Pistaferri; Fabiano Schivardi |
| Abstract: | We document that individuals who grew up in areas with high density of firms are more likely, as adults, to become entrepreneurs, controlling for the density of firms in their current location. Conditional on becoming entrepreneurs, the same individuals are also more likely to be successful entrepreneurs, as measured by business income or firm productivity. Strikingly, firm density at entrepreneur’s young age is more important than current firm density for business performance. These results are not driven by better access to external finance or intergenerational occupation choices. They are instead consistent with entrepreneurial capabilities being at least partly learnable through social contacts. In keeping with this interpretation, we find that entrepreneurs who at the age of 18 lived in areas with a higher firm density tend to adopt better managerial practices (enhancing productivity) later in life. |
| JEL: | J24 M13 R11 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21775&r=sbm |
| By: | OKUBO Toshihiro; OKAZAKI Tetsuji |
| Abstract: | In 2001, the Ministry of Economy, Trade and Industry (METI) launched the Industrial Cluster Policy, which aimed at promoting innovations and vitalizing regional economies by creating firm networks. The model envisioned by METI in drawing up this policy was the Silicon Valley in the United States. For that purpose, METI designated 19 industrial clusters and their members, including local small and medium-sized firms and universities, and supported the network creation of the members. In this paper, we identified the member firms from the original information provided by METI and matched it with the Tokyo Shoko Research (TSR) database. We used the dataset to evaluate how participation in the industrial cluster affected the transaction network, sales, and employment of each member firm.It was revealed that participation in the industrial cluster has a positive impact on the extent of transaction networks, especially that with firms in Tokyo. Also, participation in the industrial cluster increases the sales and employment of each member firm. It is remarkable that the cluster policy contributes to expanding the extensive margin of the local firms with transactions with firms in Tokyo. This extensive margin effect is larger for firms whose main banks are the first-tier regional banks. |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:15063&r=sbm |
| By: | TESTA, Giuseppina (CELPE - Centre of Labour Economics and Economic Policy, University of Salerno - Italy) |
| Abstract: | The growing competition from the euro, the Eastern enlargement, and the BRIC nations has attracted increasing attention by governments in Europe like in Italy. In this paper we have investigated the effects that such scenario has on innovation decision of Italian manufacturing firms. Using data from UniCredit Surveys conducted in Italy over the period 1995-2006 we explore the influence of the euro competition on innovation decisions controlling for a set of variables, ranging from export behaviour, family management and size. We find the euro competition to significantly affect innovation decisions. Such effects are different for high-tech firms and low-tech firms and for family-managed and non-family-managed firms. |
| Keywords: | Euro; Innovation; Italian manufacturing |
| JEL: | L25 L60 O32 |
| Date: | 2015–12–14 |
| URL: | http://d.repec.org/n?u=RePEc:sal:celpdp:0135&r=sbm |
| By: | De Marco, Filippo (Bocconi University); Wieladek, Tomasz (Bank of England) |
| Abstract: | We study the effect of changes to UK bank-specific capital requirements on small and medium-sized enterprises (SME) from 1999 to 2005. Following a 1% rise in capital requirements, SME asset growth (and investment) contracts by 3.5% to 6.9% (12%) in the first year of a new bank-firm relationship, but this effect declines over time. These results are robust to a number of different fixed effects specifications and measures of capital requirement changes that are orthogonal to balance sheet characteristics by construction. Banks with tight capital buffers are the most significant transmitters of this shock. Monetary policy only affects the asset growth of small bank borrowers, but has a similar impact on the same sectors as capital requirements. There is evidence that these instruments reinforce each other when tightened, but only for small banks. Firms that borrow from multiple banks and operate in sectors with alternative forms of finance are less (equally) affected by changes in capital requirements (monetary policy). |
| Keywords: | Capital requirements; firm-level data; SMEs; relationship lending; macroprudential and monetary policy |
| JEL: | G21 G28 |
| Date: | 2015–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:boe:boeewp:0573&r=sbm |
| By: | J. David Brown; John S. Earle; Yana Morgulis |
| Abstract: | Analyzing a list of all Small Business Administration (SBA) loans in 1991 to 2009 linked with annual information on all U.S. employers from 1976 to 2012, we apply detailed matching and regression methods to estimate the variation in SBA loan effects on job creation and firm survival across firm age and size groups. The number of jobs created per million dollars of loans generally increases with size and decreases in age. The results imply that fast-growing firms (“gazelles”) experience the greatest financial constraints to growth, while the growth of small, mature firms is least financially constrained. The estimated association between survival and loan amount is larger for younger and smaller firms facing the “valley of death”. |
| JEL: | H81 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21733&r=sbm |
| By: | Uwe Cantner (School of Economics and Business Administration, Friedrich-Schiller-University Jena, and University of Southern Denmark, Odense); Holger Graf (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Stefan Töpfer (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | We study the effects of a German national cluster policy on the structure of collaboration networks. The empirical analysis is based on original data that was collected in fall 2011 and late summer 2013 with cluster actors (firms and public research organizations) who received government funding. Our results show that over time the program was effective in initiating new cooperation between cluster actors and in intensifying existing linkages. Newly formed linkages are to a substantial amount among actors who did not receive direct funding for a joint R&D project, which indicates an additional, mobilisation effect of the policy. Furthermore, we observe differential developments regarding clusters' spatial embeddedness. Some clusters tend to increase their localisation, whereas others increase their connectivity to international partners. The centrality of large firms increased over time, indicating their prominent role as preferred partners for R&D cooperation within the clusters while it is the opposite case for public actors. |
| Keywords: | Cluster, Innovation Policy, Evaluation, Social Network Analysis |
| JEL: | O38 L14 R10 |
| Date: | 2015–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2015-026&r=sbm |
| By: | Ryan A. Decker; John Haltiwanger; Ron S. Jarmin; Javier Miranda |
| Abstract: | The pace of business dynamism and entrepreneurship in the U.S. has declined over recent decades. We show that the character of that decline changed around 2000. Since 2000 the decline in dynamism and entrepreneurship has been accompanied by a decline in high-growth young firms. Prior research has shown that the sustained contribution of business startups to job creation stems from a relatively small fraction of high-growth young firms. The presence of these high-growth young firms contributes to a highly (positively) skewed firm growth rate distribution. In 1999, a firm at the 90th percentile of the employment growth rate distribution grew about 31 percent faster than the median firm. Moreover, the 90-50 differential was 16 percent larger than the 50-10 differential reflecting the positive skewness of the employment growth rate distribution. We show that the shape of the firm employment growth distribution changes substantially in the post-2000 period. By 2007, the 90-50 differential was only 4 percent larger than the 50-10, and it continued to exhibit a trend decline through 2011. The reflects a sharp drop in the 90th percentile of the growth rate distribution accounted for by the declining share of young firms and the declining propensity for young firms to be high-growth firms. |
| JEL: | E24 J63 L26 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21776&r=sbm |
| By: | Uwe Cantner (School of Economics and Business Administration, Friedrich-Schiller-University Jena, and University of Southern Denmark, Odense); Holger Graf (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Michael Rothgang (Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Essen); Tina Wolf (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | Cluster studies have shown that innovation can be understood as the result of an inter-organizational process, where a division of labor with regard to exploration and exploitation exists among the actors inside the cluster. A cluster is ambidextrous if it manages to balance innovative activities that exploit existing competencies and is open to novel technological approaches by means of exploration. In this context we are interested in the supportive role of cluster management, assuming that a cluster organization can only persist sustainably if exploitation and exploration are pursued in an appropriate balance. Our analysis is based on surveys that have been conducted between 2011 and 2012 with 10 cluster managements and their respective cluster firms of the first two rounds of the German Leading Edge Cluster Competition. Our results indicate that the demand for services offered by the cluster management depends on companies' strategies with respect to exploration, exploitation and ambidexterity. In turn, the priorities set by the cluster management can be explained by the firm' needs. Accordingly, we argue that the cluster management acts as a service provider helping the cluster companies to become ambidextrous which in turn makes the cluster as a whole ambidextrous. |
| Keywords: | Cluster, Ambidexterity, Cluster Management, Exploration, Exploitation |
| JEL: | O30 O32 O38 R11 |
| Date: | 2015–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2015-024&r=sbm |
| By: | Grazia Cecere (Telecom Ecole de Management, Institut Mines-Telecom, Paris, France.); Massimiliano Mazzanti |
| Abstract: | Green jobs are a key aim of societal efforts to provide concrete contents to the long run effort to reconcile sustainability and development. The present article analyses the extent to which future growth of green jobs is influenced by microeconomic and sector/macro level factors. We carry out econometric analyses on European SME firms to assess the factors affecting the creation of green jobs in small and medium firms. We find that green product and service innovation is primarily relevant to support the creation of green jobs. This suggests that producing green products and services is an important factor affecting green jobs. The environmental management system is also positively related to job creation: the reorganization of a firm’s activities imposed by Environmental Management System implementation requires the organizational structure as a whole to be reshaped, eventually including skills and competences. Innovations aimed at enhancing resource efficiency also augment the expected creation of green jobs. Sector factors and turnover/demand effects appear less relevant than specific eco innovation elements of the firm with the exception of the waste sector which supports the creation of green jobs. The study lays the foundations for future research on the development of green skills, competences and jobs in firms as a reaction to market and policy levers. |
| Keywords: | green jobs, innovation, labour demand, sectors, product innovation, techno-organisational innovations |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:2115&r=sbm |
| By: | Lee G. Branstetter; Matej Drev; Namho Kwon |
| Abstract: | This paper documents the increasing importance of software for successful innovation in manufacturing sectors well beyond the traditional definition of electronics and information technology. Using panel data for 231 publicly listed firms from 17 countries across four manufacturing industries over the period 1981-2005, we find significant variation across firms in the software intensity of their innovative activity. Firms that exhibit a higher level of software intensity generate more patents per R&D dollar, and their investment in R&D is more highly valued by equity markets. We present evidence that geographic differences in the abundance of skilled software labor are an important factor in determining sample firms’ software intensity and performance. |
| JEL: | O14 O31 O32 O33 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21752&r=sbm |
| By: | Jürgen Bierbaumer-Polly (WIFO); Werner Hölzl (WIFO) |
| Abstract: | We study the (macroeconomic) consistency of individual firm-level business tendency survey responses and take firm-level heterogeneity explicitly into account. Adding firm-level, industry- and region-specific structural characteristics allows controlling for additional microeconomic heterogeneity. The dataset we use are the business tendency survey micro data for Austrian manufacturing covering the time period 1996 to 2012. Our results show that firm-specific information embedded in the qualitative survey questions is relevant to understand aggregate business cycle dynamics. For example, the assessment of firms' order book levels, their current degree of capacity utilisation and their production expectations as well as obstacles in their production activities due to insufficient demand show evidence of a significant effect in explaining a firm's change in current production output. However, we do not find clear results with respect to firm size, nor do we find explanatory power of the industry affiliation of a firm and with respect to regional characteristics. We are able to identify heterogeneity in behaviour for cyclical up- and downswings as well as between large and small firms. |
| Keywords: | business cycle, business tendency surveys, firm-level expectations, ordered probit |
| Date: | 2016–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2015:i:504&r=sbm |
| By: | Josh Lerner; Antoinette Schoar; Stanislav Sokolinski; Karen Wilson |
| Abstract: | This paper examines investments made by 13 angel groups across 21 countries. We compare applicants just above and below the funding cut-off and find that these angel investors have a positive impact on the growth, performance, and survival of firms as well as their follow-on fundraising. The positive impact of angel financing is independent of the level of venture activity and entrepreneur friendliness in the country. But we find that the development stage and maturity of start ups that apply for angel funding (and those that are ultimately funded) is inversely correlated with the entrepreneurship friendliness of the country, which may reflect self-censoring by very early stage firms who do not expect to receive funding in these environments. |
| JEL: | G24 O31 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21808&r=sbm |
| By: | Jérémie Faham (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA), IMS - Laboratoire de l'intégration, du matériau au système - Université Sciences et Technologies - Bordeaux 1 - Institut Polytechnique de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Iban Lizarralde (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA)); Jérémy Legardeur (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA)); Iñaki Garagorri (Universidad de Deusto); Christophe Marnat (UPEM - Université Paris-Est Marne-la-Vallée, Universidad del Pais Vasco- Euskal Herriko Unibertsitatea) |
| Abstract: | In the actual context, characterized by economic, environmental and societal challenges, the stimulation of creativity and the support to sustainable innovation are central issues for the competitiveness of enterprises. This topic is of great relevance for European Union which aims to stimulate a smart, sustainable and inclusive growth in each of its region to come out of the actual crisis with the launch of a new set of territorial policies: the “Research and regional Innovation Strategies for the Smart Specialization”. This work deals with the inclusion of SMEs when implementing those RIS3. We present several contributions to enhance a true involvement of SMEs within the RIS3 dynamic. We highlight first the potentialities of the Collaborative Business Model dynamics as a suitable approach to support the collective participation of networks of SMEs in the definition of the RIS3 orientations. Secondly we present the design of a collaborative platform called WeKeyInnovation (WKI), accessible online to share information about innovation tools or devices and which is progressively enriched by all the regional “entrepreneurs”. By collecting qualified empirical data WKI is designed to be a dynamic observatory of innovation processes within regional enterprises. This collaborative platform is settled to be the regional online community which will support the knowledge sharing of actors dedicated to the innovation at regional level. By being also a catalyst of regional “entrepreneurs” interactions, WKI facilitates the identification of potential partners and boost their adequate matching before to collectively engage in CBM processes. The final goal is to implement WKI as a transversal toolkit supporting a new framework of innovation at regional level which will be useful both for the collaboration of SMEs within networks and for institutional actors to help them in the launch of the RIS3 insuring the full inclusion of regional SMES. |
| Keywords: | Innovation, Smart Specialisation Strategy, SME, Collaborative Business Model, Business Matching |
| Date: | 2015–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01245851&r=sbm |
| By: | Richard W. Carney (Australian National University, Australia); Travers Barclay Child (VU University Amsterdam, the Netherlands) |
| Abstract: | Do political ties, family-business group affiliation, and professional connections collectively matter for firm performance? By exploiting a new dataset for 1,290 large East Asian firms during the 2008 financial crisis, we offer a holistic comparison of these different networks. We find that professional networks buoyed performance; political and family networks did not. This suggests information access is a key benefit of business networks. A one standard deviation improvement to a firm's professional network position cushioned quarterly ROA by 2/5 of a percentage point during the crisis. |
| Keywords: | networks; political connections; interlocking directorates; family ownership; corporate governance |
| JEL: | G3 G14 L14 |
| Date: | 2015–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:tin:wpaper:20150135&r=sbm |
| By: | Francisco Manuel Parejo Moruno; Amélia Branco; João Carlos Lopes; José Francisco Rangel Preciado |
| Abstract: | The internationalization of family firms has become an important field of economic research, which could be addressed from different theoretical approaches. In all of them, historical perspective is a very useful tool, since a long-term approach allows a deeper understanding of the internationalization process and their geographic, economic and social implications. The purpose of this work is to analyze the processes of internationalization followed by family firms, with an emphasis on factors linked to them which favor their success in the global markets. In particular, we present a historical analysis of three relevant family firms in the world cork business history; first, the Reynolds family firm, which is a paradigm of commercial success in the cork business until the last quarter of the nineteenth century, and of failure thereafter; second, the Mundet & Sons company, which, despite having become a leading company in the world cork business, is also a paradigmatic example of failure because of its final outcome in the 1980s; and third, Corticeira Amorim, an example of success and leadership in the international market since the mid-twentieth century to today. |
| Keywords: | Family firms, internationalization, cork, cork industry, Reynolds, Mundet, Corticeira Amorim |
| JEL: | F23 H00 L73 P25 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:seh:wpaper:1508&r=sbm |
| By: | Randall Morck; Gloria Y. Tian |
| Abstract: | Family-controlled pyramidal business groups were important in Canada early in the 20th century, amid rapid catch-up industrialization, but largely gave way to widely held free-standing firms by mid- century. In the 1970s and early 1980s – an era of high inflation, financial reversal, unprecedented state intervention, and explicit emulation of continental European institutions – pyramidal groups abruptly regained prominence. The largest of these were politically well-connected and highly leveraged. The two largest collapsed in the early 1990s in a recession characterized by very high real interest rates. The smaller groups that survived were more vertically integrated and less diversified at the time. Widely held freestanding firms and Anglo-Saxon concepts of the role of the state soon regained predominance. |
| JEL: | G3 L22 N22 |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21707&r=sbm |
| By: | Thomas Brenner (Department of Geography, Philipps Universitaet Marburg); Marco Capasso (School of Business and Economics, Maastricht University); Matthias Duschl (Department of Geography, Philipps Universitaet Marburg); Koen Frenken (Copernicus Institute, Utrecht University and CIRCLE, Lund University); Tania Treibich (School of Business and Economics, Maastricht University and OFCE and Scuola Superiore Sant'Anna) |
| Abstract: | This paper studies the causal relations between regional employment growth in Knowledge- Intensive Business Services (KIBS) and overall regional employment growth using German labour-market data for the period 1999-2012. Adopting a recently developed technique, we are able to estimate a structural vector auto- regressive model in which the causal directions between KIBS and other sectors are examined including various time lags. One main finding holds that although regional growth has a negative short-term effect on KIBS, KIBS growth has a long-term posi- tive effect on the whole regional economy. This result confirms the claim that KIBS can play a key role in regional policies. Distinguishing between financial and non- financial KIBS, we find that financial KIBS have a procyclical effect on regional growth underlining the potential de-stabilizing effect of a large financial sector. |
| Keywords: | Employment Growth, growth spillovers, KIBS, industrial dynamics, financial geography |
| JEL: | C53 O33 R10 |
| Date: | 2015–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:pum:wpaper:2015-04&r=sbm |
| By: | Jan Hagemejer (Faculty of Economic Sciences, University of Warsaw; National Bank of Poland) |
| Abstract: | The new EU member states have been experiencing firm internationalization not only through inward foreign direct investment but also through exporting, importation of foreign technology in investment goods and increased use of imported intermediates. We argue that there are important productivity spillovers within the global value chains, i.e. FDI alone does not tell the whole story of the reallocation processes going on in the economies of the NMS. We augment the standard TFP spillover empirical model with modern measures of GVC participation. We show that increased foreign content of exports brings additional productivity gains on top of the ones attributed to exporting. Moreover, we show that in selected cases, participation in the GVC leads to a smaller productivity gap between foreign and domestic firms. |
| Keywords: | global value chains, productivity, New Member States, productivity spillovers |
| JEL: | L25 C67 F10 F23 O12 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2015-42&r=sbm |
| By: | Pascal Le Masson (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris); Chris Mcmahon (University of Bristol (UNITED KINGDOM) - University of Bristol (United Kingdom)) |
| Abstract: | Présentation des travaux d'Armand Hatchuel et Benoit Weil sur les théories de la conception - position de ces travaux pionniers par rapport à l'état de l'art dans les années 90, apports majeurs de la théorie C-K, conséquences et recherches ultérieures. |
| Keywords: | théorie de la conception , innovation , connaissance , théorie C-K |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01243331&r=sbm |
| By: | Clément Carbonnier (Théorie économique, modélisation et applications); Nathalie Morel (Centre d'études européennes de Sciences Po) |
| Abstract: | Durant les deux dernières décennies, de nombreux États d’Europe continentale et du Nord ont mis en oeuvre des politiques visant à encourager le développement du secteur économique des services à la personne. Ce Policy Brief présente les principales conclusions d’un ouvrage* consacré à l’évaluation de ces politiques dans six pays. Les bénéfices attendus de ces politiques sont nombreux : création d’emplois pour les peu qualifiés, réponse aux nouveaux besoins sociaux tels que la garde d’enfants et l’aide aux personnes âgées, soutien à l’emploi féminin... La comparaison des cas français, allemand, autrichien, belge, suédois et finlandais permet cependant de mettre en évidence le succès mitigé de ces politiques. Ces mesures participent d’une stratégie économique de stimulation des emplois de service « bas de gamme », qui entraine la création d’emplois et de services à faible valeur ajoutée. Elle contribue à l’augmentation des inégalités socioéconomiques et géographiques et participe à la privatisation du soin. Les retombées en termes d’emploi sont limitées et le coût pour les finances publiques important. Ainsi, à de multiples égards, la stratégie de soutien à l’emploi domestique apparaît comme un pari perdant pour faire face aux défis de l’ère postindustrielle. |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/4gg4igbfpa8q2r5k6e7h5lpflc&r=sbm |
| By: | Bulat Sanditov (TELECOM Ecole de Management, Institut Mines-T´el´ecom, France); Saurabh Arora (Science Policy Research Unit, University of Sussex, UK) |
| Abstract: | Using a simple model with interdependent utilities, we study how social networks influence individual voluntary contributions to the provision of a public good. Departing from the stan- dard model of public good provision, we assume that an agent’s utility has two terms: (a) ‘ego’-utility derived from the agent’s consumption of public and private goods, and (b) a so- cial utility which is the sum of utility spillovers from other agents with whom the agent has social relationships. We establish conditions for the existence of a unique interior Nash equi- librium and describe the equilibrium in terms of network characteristics. We show that social network always has a positive effect on the provision of the public good. We also find that, in networks with “small world”-like modular structures, ‘bridging’ ties connecting distant parts of social network play an important role inducing the agent’s contribution to public good. Assumptions and results of the model are discussed in relation to the role of social capital in community-level development projects and to the effect of innovation networks on firms’ R&D investments. |
| Keywords: | public goods, interrelated utilities, social capital, R&D networks |
| JEL: | H41 D85 O31 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2015-35&r=sbm |
| By: | Alberto Galasso; Mark Schankerman |
| Abstract: | This paper studies the causal impact of patents on subsequent innovation by the patent holder. The analysis is based on court invalidation of patents by the U.S. Court of Appeals for the Federal Circuit, and exploits the random allocation of judges to control for the endogeneity of the judicial decision. Patent invalidation leads to a 50 percent decrease in patenting by the patent holder, on average, but the impact depends critically on characteristics of the patentee and the competitive environment. The effect is entirely driven by small innovative firms in technology fields where they face many large incumbents. Invalidation of patents held by large firms does not change the intensity of their innovation but shifts the technological direction of their subsequent patenting. |
| JEL: | K41 L24 O31 O32 O34 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21769&r=sbm |