nep-sbm New Economics Papers
on Small Business Management
Issue of 2018‒02‒19
24 papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. Founder CEOs and new venture media coverage By Howard, Michael D.; Kolb, Johannes
  2. Innovative events By Max Nathan; Anna Rosso
  3. Firms Dynamics and Business Cycle: New Disaggregated Data By Lorenza Rossi; Emilio Zanetti Chini
  4. Schumpeterian Creative Class Competition, Innovation Policy, and Regional Economic Growth By Batabyal, Amitrajeet; Yoo, Seung Jick
  5. Does managerial personality matter? Evidence from firms in Viet Nam By Smriti Sharma; Finn Tarp
  6. How hybrid change agents moderate innovation complementarities By Christian Rupietta; Johannes Meuer; Uschi Backes-Gellner
  7. How a laid-off employee becomes an entrepreneur: The case of Nokia’s Bridge program By KANG, Byeongwoo; RANNIKKO, Heikki; TORNIKOSKI, Erno T.
  8. What induces firms to license foreign technologies? International survey evidence By Dohse, Dirk; Goel, Rajeev K.; Nelson, Michael A.
  9. Improving access to finance for young innovative enterprises with growth potential: evidence of impact on firms' outputs: Part 1. Equity instruments: lessons learned from policy evaluations By Katarzyna Szkuta; Blagoy Stamenov; Anna Ianshyna
  11. Relational Capital in Lending Relationships. Evidence from European Family Firms By Marco Cucculelli; Valentina Peruzzi; Alberto Zazzaro
  12. Financing Ventures By Jeremy Greenwood; Pengfei Han; Juan M Sanchez
  13. A portrait of innovative start-ups across countries By Stefano Breschi; Julie Lassébie; Carlo Menon
  14. Teresa Amabile L'influence de l'environnement social sur la créativité By Fanny Simon
  15. Examining business performance of micro, small and medium scale enterprise through accounting records keeping; case study in Ghana By Tweneboah Senzu, Emmanuel; Ndebugri, Haruna
  16. Innovation Camps Methodology Handbook: Realising the potential of the Entrepreneurial Discovery Process for Territorial Innovation and Development By Gabriel Rissola; Hank Kune; Paolo Martinez
  17. Obstacles to productivity in Asia and Pacific region: finance reigns By Filipe Lage de Sousa
  18. Current Challenges in Fostering the European Innovation Ecosystem By Cristiana Benedetti Fasil; Federico Biagi; Mark Boden; Peder Christensen; Andrea Conte; Francesco Di Comite; Xabier Goenaga Beldarrain; Mathieu Doussineau; Issam Hallak; Fernando Hervas; Koen Jonkers; Pietro Moncada Paterno Castello; Giuseppe Munda; Miguel Sanchez Martinez; Robert Marschinski; Valentina Montalto; Michela Nardo; Daniel Nepelski; Dimitrios Pontikakis; Katarzyna Szkuta; Daniel Vertesy; Thomas Zacharewicz
  19. Identifying systemically important companies in the entire liability network of a small open economy By Sebastian Poledna; Abraham Hinteregger; Stefan Thurner
  20. Social enterprise in France : at the crossroads of the social economy, solidarity economy and social entrepreneurship ? By Laurent Fraisse; Laurent Gardin; Jean-Louis Laville; Francesca Petrella; Nadine Richez-Battesti
  21. Higher Education for Smart Specialisation Towards strategic partnerships for innovation By John Edwards; Elisabetta Marinelli; Eskarne Arregui Pabollet; Louise Kempton
  22. Assessing the Competitiveness of the Metalworking Sector By João Marinho; Pedro Carvalho
  23. Estimating the benefits of R&D subsidies for Germany By Koehler, Mila
  24. A Regional Innovation Impact Assessment Framework for universities By Koen Jonkers; Robert Tijssen; Athina Karvounaraki; Xabier Goenaga Beldarrain

  1. By: Howard, Michael D.; Kolb, Johannes
    Abstract: Among their early key decisions, new ventures must choose whether to retain founder CEOs and how to craft a media strategy to best represent themselves to the outside world. These decisions have critical implications for firm survival and success, shaping perceptions of important external stakeholders. Our study explores the interplay between founder CEOs and media coverage and their effect on firm performance. We employ competing risk models to analyze data on 2,327 US VC-backed technology firms during the period 1985 to 2009, finding that founder CEOs enhance volume and positive tonality of media coverage, which increase the likelihood of firm IPO. Our findings provide important contributions for research into entrepreneurship and organizational reputation.
    Keywords: entrepreneurship,founder characteristics,media analysis,new venture success,competing risk models
    Date: 2018
  2. By: Max Nathan (University of Birmingham); Anna Rosso (University of Milan)
    Abstract: Policymakers need to understand innovation in high-profile sectors like technology. This can be surprisingly hard to observe. We combine UK administrative microdata, media and website content to develop experimental measures of firm innovation – new product/service launches – that complement existing metrics. We then explore the innovative performance of technology sector SMEs – firms also of great policy interest – using panel fixed effects settings, comparing conventional and machine-learning-based definitions of industry space. For companies with event coverage, tech SMEs are substantially more launch-active than non-tech firms, with suggestive evidence of firm-city interactions. We use instruments and reweighting to handle underlying event exposure probabilities.
    Keywords: innovation, ICT, data science
    JEL: L86
    Date: 2017–10–09
  3. By: Lorenza Rossi (Department of Economics and Management, University of Pavia); Emilio Zanetti Chini (Department of Economics and Management, University of Pavia)
    Abstract: We provide stylized facts on firms dynamics by disaggregating U.S. yearly data from 1977 to 2013. To this aim, we use an unobserved component-based method, encompassing several classical regression-based techniques currently in use. Our series of entry and exit of firms at establishment level are feasible proxies of business cycle. Exit is a leading and countercyclical indicator, while entry is lagging and pro-cyclical. According to a standard structural econometric analysis, exit overshoots its average level in the medium-run. Several robustness checks confirm these results, hence supporting the most recent theoretical literature.
    Keywords: Bayesian VAR, Entry, Exit, Productivity, State Space Models.
    JEL: C13 C32 C40 E30 E32
    Date: 2018–02
  4. By: Batabyal, Amitrajeet; Yoo, Seung Jick
    Abstract: We focus on a region that is creative in the sense of Richard Florida. The creative class is broadly composed of existing and candidate entrepreneurs. The general question we analyze concerns the effects of Schumpeterian competition between existing and candidate entrepreneurs on economic growth and innovation policy in this region. We perform four specific tasks. First, when the flow rate of innovation function for the existing entrepreneurs is strictly concave, we delineate the circumstances in which competition between existing and candidate entrepreneurs leads to a unique balanced growth path (BGP) equilibrium. Second, we examine whether it is possible for the BGP equilibrium to involve different levels of R&D expenditures by the existing entrepreneurs. Third, we show how the BGP equilibrium is altered when the flow rate of innovation function for the existing entrepreneurs is constant. Finally, we study the impact that taxes and subsidies on R&D by existing and candidate entrepreneurs have on R&D expenditures and regional economic growth.
    Keywords: Creative Class, Creative Destruction, Economic Growth, Innovation Policy, R&D
    JEL: O31 O38 R11
    Date: 2017–12–03
  5. By: Smriti Sharma; Finn Tarp
    Abstract: Using novel data from micro, small, and medium firms in Viet Nam, we estimate the relationship between behavioural and personality traits of owners/managers—risk attitudes, locus of control, and innovativeness—and firm-level decisions. We extend the analysis beyond standard metrics of firm performance such as revenue and growth to study intermediate investments, including product innovation, worker training, and adoption of workplace safety measures that are potentially conducive to observed firm performance. Our results show that innovativeness and locus of control are positively correlated with revenue while risk aversion predicts lower revenue. Risk aversion is positively correlated with the adoption of safety measures. Innovativeness, as expected, is associated with an increased probability of product innovations. An internal locus of control predicts higher probability of investments, innovations, and worker training. Heterogeneity analyses indicate that innovativeness and risk aversion matter more for firm outcomes in provinces characterized by better business climate. Our results are robust to a variety of checks. We contribute to a nascent and rapidly growing literature on the importance of managerial capital by shedding light on the role of managerial personality characteristics for decision-making in firms in a dynamic transition economy.
    Date: 2018
  6. By: Christian Rupietta (University of Wuppertal); Johannes Meuer (ETH Zurich); Uschi Backes-Gellner (University of Zurich)
    Abstract: Amounting evidence shows how, that is the development and implementation of new organizational practices, processes, and structures, increase firms' propensity to develop new and improve existing products and processes. When investigating the initiators of organizational innovation, most research has focused on internal and external change agents at upper echelons neglecting hybrid change agents at lower echelons. We argue that hybrid change agents, because of their unique ability to integrate external and internal knowledge, are particularly important for organizational innovation and may positively influence the technological innovation process. We examine how apprentices in the Swiss VET system, key individuals who integrate external knowledge through school-based education with internal knowledge through on-the-job training, moderate organizational innovation's influence on technological innovation. Drawing on a sample of 1,240 firms, we show that apprentices leverage the positive effect of innovations in a firm's business processes and organization of work on incremental innovations. We contribute to the literature on complementarities between organizational and technological innovation by revealing how different types of organizational innovation affect technological innovation across the innovation process. Moreover, by revealing the significant role of apprentices, as hybrid change agents at the lower echelons, for a firm's innovation activities, we also contribute to the current debate on the salience of VET systems for a knowledge-based economy.
    Keywords: Hybrid change agents, technological innovation processes, organizational innovation, Vocational Education and Training (VET), apprenticeships
    Date: 2018–01
  7. By: KANG, Byeongwoo; RANNIKKO, Heikki; TORNIKOSKI, Erno T.
    Abstract: This paper investigates how to support employees to become entrepreneurs. Using original survey data by Nokia, we show two main findings. First, some contents of entrepreneurship were effective commonly to employees with an R&D background and to those with a non-R&D background while other contents were effective to either employees with an R&D background or those with a non-R&D background. The former contents are general knowledge on management, and the later contents are further development of their own specialties. Second, providing a such program to employees had merits to the program provider. Our findings have implications for how a firm to design entrepreneurial programs for employees and to form a business ecosystem around it.
    Keywords: Entrepreneurship, Entrepreneur education, Layoffs, Nokia, Spinoff
    JEL: J63 L26 M13
    Date: 2017–12
  8. By: Dohse, Dirk; Goel, Rajeev K.; Nelson, Michael A.
    Abstract: The paper provides firm-level insights into the drivers of foreign technology licensing from the perspective of the licensee, using data across 114 nations. Drawing on the theoretical foundations related to knowledge spillovers, results show that manufacturing firms with own R&D capabilities were more likely to license foreign technologies, as were larger firms and those situated in the nations' main business city. Greater literacy facilitated foreign technology licensing, while overall economic prosperity of a nation did not have a significant impact. Interestingly, higher domestic interest rates, related to capital costs and to overall monetary policy, induced firms to license technology from abroad. Finally, some institutions like greater economic freedom aided technology licensing, while others like strong patent protection were not found to have a sizable impact.
    Keywords: technology licensing,R&D,firm size,location,taxes,informal competition
    JEL: L24 O33 O57
    Date: 2018
  9. By: Katarzyna Szkuta (European Commission - JRC); Blagoy Stamenov (European Commission - JRC); Anna Ianshyna
    Abstract: Drawing on available academic literature and policy evaluation studies, the report aims to identify the impact of public support through equity instruments on firm performance, measured by growth in employment, turnover and innovative activities. It also puts forward main lessons on policy design and implementation. It employs a mixed-method approach based on evaluation synthesis.
    Keywords: firms, finance, enterprises, equity instruments
    Date: 2017–12
  10. By: Bettina Peters; Rebecca Riley; Iulia Siedschlag; Priit Vahter; John McQuinn
    Abstract: This paper examines the links between internationalisation, innovation and productivity in service enterprises. For this purpose, we use micro data from the Community Innovation Survey 2008 in Germany, Ireland and the United Kingdom, and estimate an augmented structural model. Our empirical evidence highlights the importance of internationalisation in the context of innovation outputs in all three countries. Our results indicate that innovation in service enterprises is linked to higher productivity. In all three countries analysed, among the innovation types that we consider, the strongest link between innovation and productivity was found with marketing innovations.
    Keywords: internationalisation of services; innovation; productivity
    JEL: L25 O31
    Date: 2018
  11. By: Marco Cucculelli; Valentina Peruzzi (Università Politecnica delle Marche); Alberto Zazzaro (University of Naples Federico II, CSEF and MoFiR.)
    Abstract: We investigate the role of a family CEO’s relational capital and a non-family CEO’s managerial abilities in the context of bank relationships for a large sample of small- and medium-sized European firms. We begin by examining whether the relational capital embodied in the family leadership of the company influences the lending relationship with the bank in terms of information sensitivity and duration. Next, we test how banks value in their credit decisions the leadership of professionals and their managerial skills with respect to the relational capital of family CEOs. The results indicate that family businesses appointing managers from within the family are significantly more likely to maintain soft-information-based and longer-lasting lending relationships. However, family executives do not have a negative impact on the firm’s access to credit, while the creation of soft-information-based and long-lasting lending relationships significantly reduce the likelihood of experiencing credit restrictions. In view of these findings, family relational capital appears to have a univocal beneficial impact on the bank–firm relationship in our sample.
    Keywords: Family firm, family CEO, soft information, relational capital, relationship lending, credit rationing
    JEL: D22 G21 G22
    Date: 2018–02–01
  12. By: Jeremy Greenwood (University of Pennsylvania); Pengfei Han (University of Pennsylvania); Juan M Sanchez (Federal Reserve Bank of St. Louis)
    Abstract: The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of financing, venture capitalists evaluate the viability of startups. If viable, VCs provide funding for the next stage. The success of a project depends on the amount of funding. The model is confronted with stylized facts about venture capital; viz., statistics by funding round concerning the success rate, failure rate, investment rate, equity shares, and the value of an IPO. Raising capital gains taxation reduces growth and welfare.
    Keywords: capital gains taxation, dynamic contract, endogenous growth, evaluating, funding rounds, growth regressions, IPO, monitoring, startups, research and development, venture capital
    Date: 2018–02
  13. By: Stefano Breschi; Julie Lassébie; Carlo Menon (OECD)
    Abstract: The report presents new cross-country descriptive evidence on innovative start-ups and related venture capital investments drawing upon Crunchbase, a new dataset that is unprecedented in terms of scope and comprehensiveness. The analysis employs a mix of different statistical techniques (descriptive graphics, econometric analysis, and machine learning) to highlight a number of findings. First, there are significant cross-country differences in the professional and educational background of start-ups’ founders, notably the share of founders with previous academic experience and in the share of “serial entrepreneurs”. Conversely, the founders’ average age is rather constant across countries, but shows a fair degree of variability across sectors. Second, IP assets, and in particular the presence of an inventor in the team of founders, are strongly associated with start-ups’ success. Finally, female founders are less likely to receive funding, receive lower amounts when they do receive financing, and have a lower probability of successful exit, when other factors are controlled for.
    Date: 2018–02–08
  14. By: Fanny Simon (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - URN - Université de Rouen Normandie - NU - Normandie Université)
    Abstract: Les travaux de Teresa Amabile sont précurseurs, à la fois dans leurs approches méthodologiques et dans les thématiques abordées. Tout d'abord, Teresa Amabile s'est démarqué des approches traditionnelles qui s'intéressaient essentiellement aux traits de personnalité et profil des personnes créatives. Elle souhaite comprendre comment favoriser la créativité dans les organisations et identifier des facteurs qui la facilitent ou contraignent. Elle étudie ainsi des projets au sein desquels la créativité est nécessaire au sein de laboratoires R&D ou d'entreprises. Ses recherches portent essentiellement sur la motivation et la créativité, l'innovation organisationnelle et plus récemment sur les réactions émotionnelles des individus face à des évènements de leur vie professionnelle.
    Date: 2016–01–01
  15. By: Tweneboah Senzu, Emmanuel; Ndebugri, Haruna
    Abstract: The research study, seek to critically examine and empirically justify the exact role and benefit, financial records keeping does to the performance of start-ups and management of micro, small and medium scale enterprises in Ghana.
    Keywords: MSMEs efficient management, MSMEs Accounting records keeping, Microeconomics, Macroeconomics, SMEs
    JEL: D2 M13 M41
    Date: 2018–01–19
  16. By: Gabriel Rissola (European Commission - JRC); Hank Kune; Paolo Martinez
    Abstract: The present Methodology Handbook is conceived to encourage regions and cities from all over Europe to adopt the Innovation Camps methodology as a tool to address collectively and effectively societal and economic challenges concerning local societies in a European context - notably in the field of Research and Innovation Smart Specialisation Strategies (RIS3) through an open, collaborative and inclusive Entrepreneurial Discover Process (EDP) between Quadruple Helix actors (i.e. government, industry, academia, and civil society).
    Keywords: smart specialisation, S3, entrepreneurial discovery process, EDP, quadruple helix, QH, 4H, participatory approach, stakeholders engagement, collaboration, co-creation, policy innovation, regional innovation, regional development, urban development
    Date: 2017–12
  17. By: Filipe Lage de Sousa (Fluminense Federal University - Brazil)
    Abstract: Firms face difference obstacles for their development. This paper investigates which obstacle is the largest to firms’ productivity using micro-level data for the Asia and Pacific region. Access to finance shows the most robust result in our investigation, being stronger for SMEs. Removing SMEs’ credit constraints seem to be a powerful tool to promote economic growth in the region, particularly in the manufacturing sector.
  18. By: Cristiana Benedetti Fasil (European Commission - JRC); Federico Biagi (European Commission - JRC); Mark Boden (European Commission - JRC); Peder Christensen (European Commission - JRC); Andrea Conte (European Commission - JRC); Francesco Di Comite; Xabier Goenaga Beldarrain (European Commission - JRC); Mathieu Doussineau (European Commission - JRC); Issam Hallak (European Commission - JRC); Fernando Hervas (European Commission - JRC); Koen Jonkers (European Commission - JRC); Pietro Moncada Paterno Castello (European Commission - JRC); Giuseppe Munda (European Commission - JRC); Miguel Sanchez Martinez (European Commission - JRC); Robert Marschinski (European Commission - JRC); Valentina Montalto (European Commission - JRC); Michela Nardo (European Commission - JRC); Daniel Nepelski (European Commission - JRC); Dimitrios Pontikakis (European Commission - JRC); Katarzyna Szkuta (European Commission - JRC); Daniel Vertesy (European Commission - JRC); Thomas Zacharewicz (European Commission - JRC)
    Abstract: The present report discusses innovation challenges under the following headings: The 3% R&D target and industrial structure: is it still a relevant goal? if we cannot achieve the 3% target, does it make sense to keep it? Technology diffusion: how can we combat its sluggishness and speed up adoption? Access to finance: is the large amount of liquidity being funnelled to "zombie" companies instead of highly innovative ones? Universities and skills: are higher education institutions adequately playing their role in driving innovation? The governance of the R&I system: how to remove administrative barriers and increase flexibility? Can SSH research contribute more to shaping R&I policies?
    Keywords: Innovation, research, policy
    Date: 2017–11
  19. By: Sebastian Poledna; Abraham Hinteregger; Stefan Thurner
    Abstract: To a large extent, the systemic importance of financial institutions is related to the topology of financial liability networks. In this work we reconstruct and analyze the - to our knowledge - largest financial network that has been studied up to now. This financial liability network consists of 51,980 firms and 796 banks. It represents 80.2% of total liabilities towards banks by firms and all interbank liabilities from the entire Austrian banking system. We find that firms contribute to systemic risk in similar ways as banks do. In particular, we identify several medium-sized banks and firms with total assets below 1 bln. EUR that are systemically important in the entire financial network. We show that the notion of systemically important financial institutions (SIFIs) or global and domestic systemically important banks (G-SIBs or D-SIBs) can be straightforwardly extended to firms. We find that firms introduce slightly more systemic risk than banks. In Austria in 2008, the total systemic risk of the interbank network amounts to only 29% of the total systemic risk of the entire financial network, consisting of firms and banks.
    Date: 2018–01
  20. By: Laurent Fraisse (LISE - Laboratoire Interdisciplinaire pour la Sociologie Economique - CNAM - Conservatoire National des Arts et Métiers [CNAM] - CNRS - Centre National de la Recherche Scientifique); Laurent Gardin (IDP LARIME - Institut du Développement et de la Prospective - Laboratoire d'Analyses et de Recherches Interdisciplinaires en Management des Entreprises - Université de Valenciennes et du Hainaut-Cambresis - Institut d'Administration des Entreprises (IAE) - Valenciennes); Jean-Louis Laville (LISE - Laboratoire Interdisciplinaire pour la Sociologie Economique - CNAM - Conservatoire National des Arts et Métiers [CNAM] - CNRS - Centre National de la Recherche Scientifique); Francesca Petrella (LEST - Laboratoire d'économie et de sociologie du travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique); Nadine Richez-Battesti (LEST - Laboratoire d'économie et de sociologie du travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique)
    Keywords: Social entrepreneurship,Économie sociale et solidaire
    Date: 2016
  21. By: John Edwards (European Commission - JRC); Elisabetta Marinelli (European Commission - JRC); Eskarne Arregui Pabollet (European Commission - JRC); Louise Kempton
    Abstract: The Policy Brief analyses three elements: - S3 Platform survey data on institutions and smart specialisation - ESF programming data - HESS pilot case studies
    Keywords: Higher Education Institutions, Smart Specialisation, Innovation
    Date: 2017–12
  22. By: João Marinho (Strategy and Research Office, Ministry of the Economy. Nova School of Business and Economics, Universidade Nova de Lisboa); Pedro Carvalho (Strategy and Research Office, Ministry of the Economy. Nova School of Business and Economics, Universidade Nova de Lisboa)
    Abstract: The main goal of this paper is to find the fundamental determinants of competitiveness within the Portuguese Metalworking industry, which is measured by both the Export Status and the Export Intensity of a firm. This sector is absolutely vital to the Portuguese Economy and it is characterized by its highly exportable profile. Moreover, its heterogeneity makes the sector sole in its analysis and asks for a more thoughtful and contemplative enquiry. Therefore, exploiting a two-step approach using a Probit and a Fixed-Effect estimator, for Portuguese firm-level data from 2010 to 2015, we try to answer two research questions: which characteristics are associated with exporter firms? And then, within the group of firms that export, which are the characteristics related to higher levels of export Intensity? Interesting results were then yield showing that factors such as investment in fixed tangible and intangible assets, productivity (Total Factor Productivity), having previously exported and, one of our most relevant findings, capital intensity are associated with an increase of internationalization and thus of competitiveness.
    Keywords: Metalworking, Exports, Competitiveness, Firm-level data
    JEL: D22
    Date: 2018–02
  23. By: Koehler, Mila
    Abstract: In Germany, R&D subsidies are an important tool to support innovation in the private sector. This paper studies the welfare effects of R&D subsidies distributed through the German federal government's thematic R&D programs between 1994 and 2011. The analysis is based on a structural model of the R&D subsidy process which allows to estimate the benefits of R&D subsides to the German economy. The model takes into account heterogeneous application costs of firms and identifies the effect of the subsidy on the federal government's utility as well as on firm profits. Assuming a welfare-maximizing federal government, the estimated average social rate of return is 34% for Germany in the period 1994 to 2011. Thereby effects on firm profits are similar to effects on spillovers to the rest of the German economy. Besides results show that the subsidy rate decision in Germany remained remarkably stable over time, and that application costs as well as the marginal profitability of subsidized R&D projects are lower after the year 2000 compared to the years before.
    Keywords: R&D,Innovation,R&D Subsidies,Innovation Policy,Welfare Economics
    JEL: D61 H25 L59 O31 O38
    Date: 2018
  24. By: Koen Jonkers (European Commission - JRC); Robert Tijssen; Athina Karvounaraki (European Commission - JRC); Xabier Goenaga Beldarrain (European Commission - JRC)
    Abstract: This report provides a framework to assess the impact of universities on their regional innovation ecosystem. The policy context for this work is provided by: a) the Renewed EU agenda for higher education which argued that universities do not attain their full potential; and b) the report by the High Level Group chaired by Pascal Lamy which called for an additional funding stream to support universities to modernise and increase their innovation impact. This report explores what the assessment framework underpinning such an innovation performance based funding instrument could look like. However, it acknowledges that the final form of such a framework would heavily depend on the regional, national or EU level instrument through which it is implemented. The report proposes a system in which universities draft a case study supported by indicators, through which they present evidence of their contribution to regional innovation. It identifies four impact categories and identifies a list of associated indicators. In this "narrative with numbers the universities can both explain how they reach this impact and contextualise their performance with reference to the development level of their region.
    Keywords: universities, higher education, innovation, performance based funding, knowledge transfer
    Date: 2018–01

This nep-sbm issue is ©2018 by João Carlos Correia Leitão. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.