nep-sbm New Economics Papers
on Small Business Management
Issue of 2018‒07‒30
eleven papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. The Regional Innovation System in China: Regional comparison of technology, venture financing, and human capital focusing on Shenzhen By MOTOHASHI Kazuyuki
  2. Innovating in less developed regions: what drives patenting in the lagging regions of Europe and North America By Andrés Rodríguez-Pose; Callum Wilkie
  3. Determinants of overall and sectoral entrepreneurship: evidence from Portugal By Gonçalo Brás; Elias Soukiazis
  4. Secrets for sale? Innovation and the nature of knowledge in an early industrial district: the Potteries, 1750-1851 By Lane, Joseph
  5. Institutional Specialization and Survival : Theory and Evidence From the French Film Industry By Julien Jourdan
  6. Micro-finance et crowdfunding : l'essor des nouvelles alternatives de financement pour les entreprises By Nathalie Duran
  7. Europe's 2020 - innovation and creative capability of the Baltic Sea Region By Wedemeier, Jan; Kruse, Mirko
  8. Ridare centralità economica alle MicroPMI By Giuseppe Capuano
  9. Les entreprises de la branche du numérique : modes d'acquisition des compétences par le recrutement et la formation. Une exploitation de l'enquête DEFIS du Céreq By Jean-Marie Dubois; Laurence Lizé; Patrick Rousset
  10. The effect of women directors on innovation activity and performance of corporate firms: Evidence from China By Töpfer, Marina
  11. The Productivity-Wage Premium: Does Size Still Matter in a Service Economy? By Giuseppe Berlingieri; Sara Calligaris; Chiara Criscuolo

  1. By: MOTOHASHI Kazuyuki
    Abstract: Shenzhen has become a hot spot of innovation in China. In this paper, we characterize Shenzhen's innovation by comparing it with that of Beijing and Shanghai using patent and venture investment data. First, the role of universities and public research institutions is small in Shenzhen's innovation system as compared to Beijing and Shanghai. In contrast, private high-tech firms, such as Huawei, ZTE, and Tencent, are leading the innovation scene in Shenzhen. Second, we find that high-tech start-ups are geographically concentrated in the Nanshan district, particularly Yuehai Jiedao, where national-level high-tech zones are located. Recently, the number of start-ups has been increasing, and local, big firms, such as ZTE, are providing the human resources for such start-up firms. Third, inventor-disambiguated information based on patent data allows us to look at interorganizational talent movements. We find that such movements tend to occur within short distances, such as within the same district (e.g., Nanshan district). To sum up, Shenzhen has truly become a hot spot of high-tech entrepreneurship and innovation, but the dynamics are very much regionally bound. Therefore, it is important to become a local player in order to take advantage of innovation movements in Shenzhen by means of minority investment by corporate venture capital into local start-up firms.
    Date: 2018–07
  2. By: Andrés Rodríguez-Pose; Callum Wilkie
    Abstract: Not all economically-disadvantaged ? 'less developed' or 'lagging' ? regions are the same. They are, however, often bundled together for the purposes of innovation policy design and implementation. This paper attempts to determine whether such bundling is warranted by conducting a regional level investigation for Canada, the United States, on the one hand, and Europe, on the other, to (a) identify the structural and socioeconomic factors that drive patenting in the less developed regions of North America and Europe, respectively; and (b) explore how these factors differ between the two contexts. The empirical analysis, estimated using a mixed- model approach, reveals that, while there are similarities between the drivers of innovation in North America?s and Europe?s lagging regions, a number of important differences between the two continents prevail. The analysis also indicates that the territorial processes of innovation in North America?s and Europe?s less developed regions are more similar to those of their more developed counterparts than to one another.
    Keywords: Innovation, lagging regions, R&D, patenting, Canada, Europe, United States
    JEL: R11 R12 O32 O33
    Date: 2018–07
  3. By: Gonçalo Brás (Polytechnic Institute of Tomar); Elias Soukiazis (CeBER and Faculty of Economics, University of Coimbra)
    Abstract: As a multidisciplinary concept, entrepreneurship can be explained by numerous factors. Therefore, the aim of this study is to test empirically the determinants of entrepreneurship (overall and sectoral) in the Portuguese economy. Despite the methodological limitations inherent in such studies, which are mainly due to the incompatibility of some series and the temporal limitations of some data, the novelty involving a cross-sectoral view of the entrepreneurial phenomenon fuels this challenge. For this purpose, we employ an estimation approach based on time series models to confirm (or reject) a diversity of hypotheses. The main results indicate that the determinants of entrepreneurship in industry are significantly different from the determinants of entrepreneurship in the service sector in Portugal. On the other hand, the determinants of entrepreneurship in the service sector are very similar to those explaining the overall entrepreneurial activity, due to the high share of services in total economic activity. The main conclusions of the study can guide institutional decision-makers to adopt adequate policies for promoting entrepreneurship in Portugal. Additionally, strategic routes for the sustainable development of entrepreneurial activity are suggested.
    Keywords: entrepreneurship; sectoral entrepreneurship; determinants of entrepreneurship; entrepreneurial activity; business services; time series models.
    JEL: L26 O11 O14
    Date: 2018–04
  4. By: Lane, Joseph
    Abstract: This paper investigates innovation and knowledge in the North Staffordshire Potteries during the eighteenth and early nineteenth centuries. It evaluates new empirical evidence of formal and informal patterns of knowledge creation and dissemination in order to highlight tensions between forms of open knowledge sharing and the appropriation of returns to innovative activity. By presenting new patent data it shows that formal protection was not a widespread strategy in the industry. It uses patent specifications to determine what specific types of knowledge were, and could be, patented in the district, and by whom. A range of sources are used to demonstrate evidence of innovation and knowledge appropriation outside of the patent system. The paper identifies distinct types of knowledge in the industry and shows how differences in these led to a range of strategies being employed by potters, with the role of secrecy highlighted as a particularly prevalent and effective strategy.
    Keywords: Industrial Revolution; Intellectual Property; Patents; Innovation; Earthenware; Industrial District; Technology; Knowledge
    JEL: D83 L61 N63 N73 N91 O34
    Date: 2018–07
  5. By: Julien Jourdan (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Firms increasingly face fragmented institutional environments where stakeholders endorse different institutional logics. While the effects of market specialization have been extensively studied, we don't know much about the firm-level implications of institutional specialization, i.e. when firms demonstrate consistent conformity to an institutional logic. In this study, I explore whether and to what extent institutional specialization affects firm survival. In contrast with arguments and evidence highlighting the potential negative survival effect of market specialization, I posit that institutional specialization is positively associated with survival. Because they may be more skilled at interacting with stakeholders, which perceive them as more appealing and understandable, institutional specialists, I argue, are more likely than other firms to form and maintain the reciprocal stakeholder relationships needed to operate and survive. I expect the survival benefit of institutional specialization to be accentuated when the contrast between logics decreases. I test and find support for these ideas using unique population data on French film producers (1994-2008).
    Keywords: Corporate Strategy,Institutional Theory,Industry Dynamics
    Date: 2018
  6. By: Nathalie Duran (CEMOI - Centre d'Économie et de Management de l'Océan Indien - UR - Université de la Réunion)
    Abstract: Micro-finance et crowdfunding : l'essor des nouvelles alternatives de financement pour les entreprises. « Avec Lendopolis votre argent ne dort pas sur un Livret A ou sur votre assurance vie. Il travaille pour des PME françaises ! Vous prêtez en direct aux entreprises françaises de votre choix et recevez jusqu'à 12% d'intérêts chaque mois ». L'année 2015 étant l'année de décollecte du livret A la plus haute depuis 20 ans, le groupe les Echos propose aux français une solution pour valoriser leurs économies grâce au prêt aux entreprises. Le gouvernement a mis fin au monopole bancaire sur les prêts rémunérés par le décret du 1 er octobre 2014 qui a instauré le statut d'Intermédiaire en Financement Participatif. Les particuliers peuvent désormais « donner un sens à leur épargne » et deviennent des micro-prêteurs. Ils peuvent confier jusqu'à 1000 € aux projets qui les attirent, tandis que les porteurs de projet peuvent lever jusqu'à un million d'euros sur les plateformes. Comment expliquer cet engouement pour les plateformes de financement participatif ? Sur les marchés financiers parfaits, les entreprises trouvent toujours un financement suffisant et approprié aux investissements de création de valeur. Par conséquent, les décisions de financement ne sont pas pertinentes. Les marchés financiers en réalité ne sont pas parfaits, et les imperfections du marché nécessitent des décisions de financement en matière de développement d'affaires et de création de valeur pour l'entreprise. Plusieurs recherches se sont intéressées aux décisions de financement et aux choix des sources de financement par les entreprises. Les entrepreneurs préfèrent les sources de financement qui ne conduisent pas à une perte de contrôle et celles aux coûts les plus faibles. Par conséquent, ils optent généralement pour des ressources financières personnelles ou d'autres ressources informelles plutôt que des financements externes. Les solutions alternatives de financement qu'offrent les plateformes de financement participatif semblent se substituer aux sources de financement informelles. Ces modèles d'affaire nouveaux ont suscité un intérêt en tant que moyen d'introduction dans le marché d'une plus grande liquidité. Par exemple, de son lancement le 12/11/2013 au 30/04/2016, la plateforme Unilend (pionner français et leader en crowdlending) a permis de financer 18 442 650 €, pour 241 projets. Au regard du crowdlending, il semblerait que les activités sur les plateformes de financement participatif intègrent davantage de processus sociaux et psychologiques que le traditionnel capital-risque. Les raisons des choix pour l'une ou l'autre des plateformes dépendent des objectifs des entrepreneurs, de ceux des supporteurs, ainsi que de l'environnement institutionnel. Des travaux récents soulignent, par ailleurs, que les perceptions des entrepreneurs quant aux possibilités d'accès au capital peuvent influencer les sources à partir desquelles ils recherchent des fonds. Les facteurs cognitifs sembleraient être des éléments clefs, ils peuvent notamment générer des émotions négatives comme le découragement : certains entrepreneurs se détournent des sources de financement traditionnelles car ils perçoivent des difficultés excessives quant à l'obtention de fonds auprès des institutions financières. Les plateformes de financement participatif rencontrent ainsi un franc succès mondial, elles ont permis de récolter 31.4 milliards en 2015 (dont 296.8 millions d'euros pour la France), ce qui correspond à une croissance de 2000 % en quatre ans, causée par une multiplication du nombre de contributeurs (de 1,3 millions à 2,3 millions pour les français par exemple). Cet article a pour objet de faire un état des lieux sur le financement participatif en France. Nous présentons tout d'abord ses diverses formes et les besoins qu'elles permettent de satisfaire, puis nous évoquerons les risques de fraude et les premières désillusions ainsi que les partenariats récemment conclus afin de limiter les risques de défaillance.
    Date: 2016–07–01
  7. By: Wedemeier, Jan; Kruse, Mirko
    Abstract: The ongoing structural change towards the service and knowledge societies, innovations, and the increasing integration of markets will have considerable influence on the European Union, particularly on the Eastern members of EU. In March 2010, the European Commission released the Europe-2020 strategy, which shall push the EU to be the smartest and most competitive region in the world. Among the European Union members, the Baltic Sea countries are effective in bringing up innovative cluster solutions, cooperation between science and business. Innovations are crucial for further economic development and prosperity. However, the innovation headline indicators are ambitiously defined targets of the Europe-2020 strategy. The paper at hand analyses and highlights the innovation and creative capability within the Europe 2020 strategy framework.
    Keywords: innovation,Baltic Sea Region,Europe 2020,creative sector
    JEL: O3 R11 R12 Z1
    Date: 2018
  8. By: Giuseppe Capuano
    Abstract: The principal objective of the article is to identify measures that progressively (medium-term objectives), with a view to the growth of the entrepreneurial system, encourage the improvement of the structural conditions both internal and external to enterprises in order to "value chain†and supporting their competitive positioning on international markets at all stages of the "life cycle" of the company giving economic centrality to micro and small Italian companies.
    Keywords: SMEs economic role; national and international policies
    JEL: L25 H32
    Date: 2018–07–21
  9. By: Jean-Marie Dubois (Centre d'Etudes et de Recherches sur les Qualifications - Céreq); Laurence Lizé (Centre d'Economie de la Sorbonne - Université Paris 1 Panthéon-Sorbonne); Patrick Rousset (Centre d'Etudes et de Recherches sur les Qualifications - Céreq)
    Abstract: In digital companies, in which value creation and therefore growth are strongly linked to innovation, the acquisition and adaptation of skills appears to be a major challenge for both companies and employees. The ability of companies to integrate into a collective process of innovation is fueled by two complementary dynamics. On the one hand, the recruitment of highly qualified and operational employees, in a competitive context, is necessary. On the other hand, the different types of continuing training (formal, non-formal and informal) are emerging as essential means of adapting the skills and knowledge of employees to the rapidity of technological change. The analysis of the Céreq DEFIS survey illustrates the recruitment and continuing training practices of companies in this branche
    Keywords: digital; company; continuing training; qualification; recruitment
    JEL: J24 M51
    Date: 2018–06
  10. By: Töpfer, Marina
    Abstract: This paper elaborates whether women bringing their diversity, cross-cultural awareness and transformational leadership skills to corporate boards offer strategic advantages for firms. In the analysis the effect of women in the board room on innovation activity and corporate firm performance as well as the joint consequences of female directors and innovation activity on the firm's success are examined. The latter may be particularly important in the context of gender diversity as more gender-diverse boards allow for higher levels of creativity and hence innovation. In order to account for endogeneity issues, different model specifications are employed (two-way fixed effects models and linear dynamic panel data models). Unconditional quantile regressions are used in order to go beyond the mean. The analysis is conducted using Chinese firm-level data from 2006-2015. The results suggest positive effects of gender diversity in corporate boards and patenting activities on firm performance. Women directors are found to have statistically significant effects on both input-(positive) and output-oriented (negative) innovation activity.
    Keywords: Women Directors,Innovation Activity,Firm Performance,Gender-diverse Boards,Unconditional Quantile Regression
    JEL: G30 J16
    Date: 2018
  11. By: Giuseppe Berlingieri; Sara Calligaris; Chiara Criscuolo
    Abstract: Ever since Moore (1911) a large empirical and theoretical literature has established the existence of a firm size-wage premium. At the same time, a second regularity in empirical work, linking size and productivity, has inspired a vast literature in multiple fields. However, the majority of the existing evidence is based on manufacturing data only. With manufacturing nowadays accounting for a very small share of the economy in many countries, whether productivity, size, and wages are closely linked, and how tight this link is across sectors, is still an open question. Using a unique dataset that collects micro-aggregated firm-level information on productivity, size, and wages for the entire economy in 17 countries over the 1994-2012 period, this paper unveils a much more subtle picture. First, while in the manufacturing sector both productivity and wages increase monotonically with firm size, the same is not true in the service sector. Second, a tight and positive link between wages and productivity is instead found in both manufacturing and services. The combination of these results suggests that, when looking at data for a much larger share of the economy, the ``size-wage premium' becomes more a "productivity-wage premium'". Unbundling the relationship between size, wages, and productivity has first-order policy implications for both workers and firms.
    Keywords: productivity, size-premium, wages
    JEL: E2 D2 J3
    Date: 2018–07

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.