nep-sbm New Economics Papers
on Small Business Management
Issue of 2019‒02‒18
twenty papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. Innovation, productivity, exports and the investment climate: A study based on Indian manufacturing firm-level data By Patrick Plane; Marie-Ange Veganzones-Varoudakis
  2. A multi-dimensional analysis on how different types of innovations impact SMEs business performance By Juan A. Sanchis-Llopis; Alfonso Expósito
  3. “Technological cooperation and R&D outsourcing at the firm level: The role of the regional context ” By Damián Tojeiro-Rivero; Rosina Moreno
  4. Job creation in Colombia vs the U.S.: “up or out dynamics” meets “the life cycle of plants” By Marcela Eslava; John Haltiwanger; Alvaro Pinzón
  5. Discovery and Diffusion of Digital Innovations – An Analysis of Enterprise Social Networks and Data-Driven Business Models By Engelbrecht, Adrian
  6. “Green regions and local firms’ innovation” By Lorena M. D’Agostino; Rosina Moreno
  7. “Technological cooperation and R&D outsourcing at the rm level: The role of the regional context” By Damián Tojeiro-Rivero; Rosina Moreno
  8. Innovation in Brazil by technological intensity: cooperation and nationality of ownership By Milene Simone Tessarin; Wilson Suzigan, Joaquim Jose Martins Guilhoto
  9. Assessing the innovation capability of EU companies in developing dual use technologies By Federico Caviggioli; Antonio De Marco; Giuseppe Scellato
  10. Are “happy” firms all alike? A comparative analysis of Italian and German manufacturing systems By A. Arrighetti; F. Landini
  11. Product Innovation and Educational Diversity in Top and Middle Management Teams By Schubert, Torben; Tavassoli, Sam
  12. Financial constraints of innovative firms and sectoral growth By Ch.-M. CHEVALIER
  13. Firm Entry and Exit and Aggregate Growth By Asturias, Jose; Hur, Sewon; Kehoe, Timothy J.; Ruhl, Kim J.
  14. Exporting Spanish firms. Stylized facts and trends By Eduardo Gutiérrez Chacón; César Martín Machuca
  15. Advertising, innovation and economic growth By Laurent Cavenaile; Pau Roldan
  16. Managing Small Business Human Resources: An International Approach By Elkoussa, Hayssam; Williams, John
  17. R&D cooperation, proximity and distribution of public funding between public and private research sectors By Marie-Laure Cabon-Dhersin; Romain Gibert
  18. Open source editing business models; the case of software By Amel Charleux; Anne Mione
  19. The Impact of Monetary Policy Stance, Financial Conditions, and the GFC on Investment-Cash Flow Sensitivity By Selcuk Gul; Huseyin Tastan
  20. Barrières à l'adoption de l'IoT : une analyse par le business model By Rostand Affogbolo

  1. By: Patrick Plane (CERDI - Centre d'Études et de Recherches sur le Développement International - Clermont Auvergne - UCA - Université Clermont Auvergne - CNRS - Centre National de la Recherche Scientifique); Marie-Ange Veganzones-Varoudakis (CERDI - Centre d'Études et de Recherches sur le Développement International - Clermont Auvergne - UCA - Université Clermont Auvergne - CNRS - Centre National de la Recherche Scientifique)
    Abstract: We study the interactions between firm-level innovation, productivity and exports in the case of the Indian manufacturing sector. To differentiate the incentives to innovate from the ability to innovate, we distinguish the inputs of innovation (R&D and training), from the outputs. Our findings highlight a virtuous circle between the three components of innovation, as well as between firm-level R&D, innovation and exports. The results suggest a positive effect of R&D on innovation (product innovation in particular), of innovation on exports (product and marketing innovation especially), and of exports on R&D. Furthermore, it seems that training and R&D reinforce each other in the Indian firm-level innovation process: doing R&D incites firms to train their workforce, and training stimulates R&D in return. Productivity of the Indian manufacturing firms seems to benefit from that dynamics, as exporting and innovating would improve firm-level TFP. As for the investment climate, our results suggest that the differences in the Indian firm-level environment participate in the firms' performance gaps. These results are all the more important in the context of the Make in India campaign and the business environment deficiencies.
    Keywords: Innovation,Productivity,Exports,Investment climate,Manufacturing,Firm-level data.
    Date: 2019–01–23
  2. By: Juan A. Sanchis-Llopis (Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).); Alfonso Expósito (Department of Economic Analysis and Political Economy, University of Seville, Calle San Fernando 4, 41004 Sevilla (Spain).)
    Abstract: This paper examines the impact of innovation decisions on business performance for small and medium-sized enterprises based on a multi-dimensional analytical approach. With this aim, the impact of the firm’s innovation decisions (in terms of the introduction of product, process, and/or organisational innovation) on four alternative performance indicators (two financial indicators: sales increase and cost reduction; and two operational indicators: increase of productive capacity and improvement in quality) is analysed. Additionally, an array of potential moderating determinants (such as firm and entrepreneur characteristics) are controlled for. Our findings highlight the existence of positive impacts of innovation decisions on both dimensions of business performance (financial and operational), but these impacts significantly differ depending on the type of innovation and the performance indicator considered. Thus, in order to study the multifaceted effects of innovation decisions made by the firm, results point out that the relationship between innovation (product, process, or organisational) and business performance should be analysed from a multi-dimensional approach. These findings imply significant implications for the design and implementation of innovation strategies in SMEs, since these should be tailored according to the business performance sought by the firm.
    Keywords: innovation, business performance, SMEs, Spain
    JEL: M21 L25 O30
    Date: 2019–02
  3. By: Damián Tojeiro-Rivero (AQR-IREA Research Group, University of Barcelona. Department of Econometrics, Statistics and Applied Economics. Av. Diagonal 690, 08034 Barcelona, Spain. Tel.(+34) 934 021 412.); Rosina Moreno (AQR-IREA Research Group, University of Barcelona. Av. Diagonal 690 - 08034 Barcelona (Spain). Tel. +34934021823 - Fax +34934021821.)
    Abstract: Much has been said about the role that technological networking activities play on the innovative performance of firms, but little is known about the relevance of the context where the firm is locate shaping the efficiency of such networking activities. In this article we hypothesize that the transformation of firms' networking activities into innovation may vary depending on the regional environment in which the firm is located. For Spanish manufactures in the period 2000-12 and through the use of a multilevel framework, we obtain that after controlling for the firm's characteristics, the regional context has not only a direct effect on firms' innovation performance, but it also conditions the returns to firms' networking activities, although differently in the case of cooperation and outsourcing. Cooperating in innovation activities is more beneficial for those firms located in a knowledge intensive region, whereas R&D outsourcing seems to be more profitable for firms in regions with a low knowledge pool.
    Keywords: Technological cooperation, R&D Outsourcing, Local Knowledge Spillovers; Multilevel; Panel data; Spanish Firms, Manufactures. JEL classification: D21, D22, O31, R10, R15
    Date: 2019–02
  4. By: Marcela Eslava; John Haltiwanger; Alvaro Pinzón
    Abstract: There is growing consensus that a key difference between the U.S. and developing economies is that the latter exhibit slower employment growth over the life cycle of the average business. At the same time, the rapid post entry growth in the U.S. is driven by an "up or out dynamic". We track manufacturing establishments in Colombia vs. the US and find that slower average life cycle growth in Colombia is driven by a less enthusiastic contribution of extraordinary growth plants and less dynamic selection of young underperforming plants. As a consequence, the size distribution of non-micro plants exhibits more concentration in small-old plants in Colombia, both in unweighted and employment-weighted bases. These findings point to a shortage of high-growth entrepreneurship and a relatively high likelihood of long-run survival for small, likely unproductive plants, as two key elements at the heart of the development problem. An extreme concentration of resources in micro plants is the other distinguishing feature of the Colombian manufacturing sector vis a vis the US.
    Keywords: Entrepreneurship; SMEs; employment growth
    JEL: O47 O14
    Date: 2019–02–07
  5. By: Engelbrecht, Adrian
    Abstract: Digital technologies radically transform today’s organizations as they permeate both innovation processes and outcomes. While the potential of digital innovations is tremendous, many companies hardly realize the extensive benefits of digital technologies so far. Furthermore, the theoretical understanding of digital innovations is limited since scholars started to challenge the assumptions made in traditional innovation research due to digital technologies’ affordances. Therefore, this thesis seeks to improve the knowledge about digital innovations by analyzing their discovery and diffusion. The discovery of innovations relates to the development of ideas, which can result in new products, processes, or business models. It is essential to investigate companies’ innovation discovery as they often struggle to create innovative ideas and existing theory rarely incorporates the increasing diversity of employees involved in these processes. Papers A and B of this thesis address these issues by examining how Enterprise Social Networks (ESNs) facilitate employees’ innovation discovery. According to Communication Visibility Theory (CVT), the consideration of ESNs is crucial in this regard as they make employees’ everyday communication permanently visible, which provides a basis for acquiring new knowledge. Paper A validates and extends the newly developed CVT. By incorporating individuals employed in diverse contexts, it empirically supports the theory’s external validity. Therefore, different companies can draw on ESNs to foster their innovation discovery, which is made possible through improvements in employees’ meta-knowledge. Besides, the paper reveals that meta-knowledge is not merely formed in the long-run, as indicated by previous research, but in the short-run as well. Interestingly, it also shows that managers can gain more meta-knowledge using ESNs compared to non-managers, which is in contrast with prior literature’s findings. Paper B investigates when employees disclose information in ESNs, which is essential to attain high communication visibility and, in this way, to facilitate the discovery of innovations. To that end, the paper transfers theory on Online Social Networks (OSNs) to the ESN context. It finds that employees’ trusting and risk beliefs are associated with their information disclosure. Additionally, the paper reveals that a company’s group and development culture influence these beliefs, with error aversion culture transmitting the effect of development culture. Innovation diffusion relates to the distribution of a novel product, process, or business model across a group of target users. It is important to better understand the diffusion of digital innovations as companies often lack knowledge about why new offerings are rejected, which limits their chances of counteracting the underlying issues. Furthermore, digital technologies impact the innovation diffusion by blurring industry boundaries and facilitating competition. Papers C and D of this thesis investigate the diffusion of digital innovations in the context of data-driven business models. This context is especially affected by new competition arising across previous boundaries and, thus, necessary to analyze as diverse organizations have high incentives to utilize their data in new ways. Paper C analyzes which dimensions substantially differentiate between distinct data-driven business models. For this purpose, it leverages practitioners’ perceptions of business models obtained from a start-up database. Based on three identified dimensions, the paper creates a taxonomy that classifies the business models into eight ideal-typical categories. The number of business models present in each category provides insights into their diffusion. By offering basic knowledge about the nature of data-driven business models, the paper can be used as a foundation for future research that seeks to dig deeper into this new field and for companies that aim at developing data-driven business models. Paper D investigates how individuals evaluate data-driven services that are offered by highly diverse companies. Based on a qualitative study, the paper shows that individuals’ perception of fit between a service and its provider is crucial for their evaluations. It also reveals the dimensions that influence this perception. Additionally, it explores the consequences that come with a perception of fit. Using these results, the paper offers a new perspective on individuals’ service evaluations, which is vital to the diffusion of the services as well as the associated business models and helps organizations in developing and promoting data-driven services.
    Date: 2019
  6. By: Lorena M. D’Agostino (Department of Economics and Management. University of Trento); Rosina Moreno (AQR-IREA Research Group.)
    Abstract: Technological innovation is essential to achieve simultaneously economic, environmental and social goals (i.e. the green growth). Indeed, many studies found that environmental innovation spurs overall innovation. However, this topic has not been investigated by taking into account the geographical context. Therefore, our paper seeks to investigate whether ‘green regions’, with an increased public and private commitment in environmental issues, are related to innovation of local firms. Using data on Spanish manufacturing firms and regions, we find that environmental technologies (especially in green energy), environmental investments, and environmental management at the level of regions are positively associated to local firms’ innovation.
    Keywords: innovation; region; firm; green patents; environment JEL classification: R11; O31; O44
    Date: 2019–01
  7. By: Damián Tojeiro-Rivero (AQR-IREA, University of Barcelona); Rosina Moreno (AQR-IREA, University of Barcelona)
    Abstract: Much has been said about the role that technological networking activities play on the innovative performance of rms, but little is known about the relevance of the context where the rm is locate shaping the eciency of such networking activities. In this article we hypothesize that the transformation of rms' networking activities into innovation may vary depending on the regional environment in which the rm is located. For Spanish manufactures in the period 2000-12 and through the use of a multilevel framework, we obtain that after controlling for the rm's characteristics, the regional context has not only a direct eect on rms' innovation performance, but it also conditions the returns to rms' networking activities, although dierently in the case of cooperation and outsourcing. Cooperating in innovation activities is more benecial for those rms located in a knowledge intensive region, whereas R&D outsourcing seems to be more protable for rms in regions with a low knowledge pool.
    Keywords: Technological cooperation, R&D Outsourcing, Local Knowledge Spillovers; Multilevel; Panel data; Spanish Firms, Manufactures JEL classification: D21, D22, O31, R10, R15
    Date: 2019–01
  8. By: Milene Simone Tessarin; Wilson Suzigan, Joaquim Jose Martins Guilhoto
    Abstract: This article analyze the innovative effort of the manufacturing companies that cooperated to innovate from those that innovated without cooperation, segmented by technological categories and origin of controlling capital. Special data with information’s from Pintec/IBGE has been used. The contribution is contrasting companies that innovated with and without cooperation, since this comparison has not yet been studied. Results showed that cooperation is decisive to differentiate innovative efforts, regardless of the technological category. The origin of controlling capital did not represent a distinctive factor. The cooperation was mainly made with customers and suppliers, and another group company overseas to foreign firms, despite the literature focus on cooperation with universities and research institutes. It is concluded that innovating with cooperation generates better innovative efforts, thus, stimulate companies to cooperate can increase Brazilian innovation
    Keywords: Innovation; Cooperation to innovate; Manufacturing; Technological intensity; Industrial development.
    JEL: O32 P13 L10
    Date: 2019–02–06
  9. By: Federico Caviggioli (Politecnico di Torino – Department of Management and Production Engineering); Antonio De Marco (Politecnico di Torino – Department of Management and Production Engineering); Giuseppe Scellato (Politecnico di Torino – Department of Management and Production Engineering)
    Abstract: This study proposes a framework to identify and analyse the European defence innovation ecosystem and to investigate the relevance of dual use inventions, extending previous empirical approaches. 63,714 defence inventions in the decade 2002-2012 were analysed by taking several dimensions into consideration: time, geography, technology, type of innovator. The main findings indicate an increasing trend of patented inventions covering a wide range of technological fields not only in the traditional defence areas, but also in Information and Communication Technology (ICT) and in instruments for measurement and control. The innovations seem to be quite concentrated: the twenty largest patent holders (firms and government agencies) account for 40% of total defence inventions. The largest geographical source of innovations is the USA, but South Korea has increased significantly in recent years. Dual use innovations, i.e. military patents subsequently cited by a civilian invention, are identified using a novel method employing patent citations. The proportion of dual use inventions in the whole dataset is 41%, but the value has been decreasing in recent years and shows heterogeneity across technological sectors and geographical areas (the USA reports the highest share, 63.9%). Analysis of knowledge flows suggests significant heterogeneity in the share of intra-border innovations: the European defence innovations are largely cited by US inventions, especially when considering dual use cases.
    Keywords: Dual use, innovation, patents, defence, technology
    Date: 2018–12
  10. By: A. Arrighetti; F. Landini
    Abstract: Recent works in the socio-economic and comparative political economy literature suggest the emergence of a predominant neoliberal model of capitalism, which is gradually being adopted by most advanced countries. A similar trend is present in the management literature where competitive advantages are increasingly being associated with a predominant strategic paradigm (integrated global engagement) leaning on the complementarities among R&D, human capital and entry into foreign markets, regardless of the country and industry a firm belongs to. While both views imply a growing tendency towards institutional and strategic homologation, other studies show only a partial convergence in institutional settings and highlight the presence of considerable heterogeneity in managerial conducts. In this paper we explore these contrasting interpretations by comparing the characteristics of manufacturing firms in Italy and Germany. The analysis suggests that (a) independently of the country of origin, globally engaged firms are relatively similar in characteristics that are usually positively correlated with economic performance such as size, age and innovation, but remain highly differentiated in terms of institutions-related variables; b) firms that have not adopted a strategy of global engagement are markedly heterogeneous in terms of both structural characteristics and institutions-related variables. In other words, global engagement is associated with a lower degree of the differentiation between Italian and German firms, but the variety of institutional settings continues to affect the evolution of businesses. Policy implications are discussed.
    Keywords: varieties of capitalism; business strategy; global engagement, firm heterogeneity; Italy; Germany
    JEL: P51 B52 L25 D22 F23
    Date: 2018
  11. By: Schubert, Torben (CIRCLE, Lund University); Tavassoli, Sam (RMIT University)
    Abstract: The effects of diversity in management teams on firm innovation have become an important topic in strategic management. With a few exceptions, however, the literature has focused on diversity in Top Management Teams (TMTs), while the role of lower management levels, particularly in Middle Management Teams (MMTs), has usually been neglected. In this paper, we intend to fill this gap by explicitly differentiating between the effects of diversity in TMTs and MMTs. By matching various firm-level and individual-level datasets, we compiled a linked employer-employee panel dataset for Sweden for the period 2004–2012. Focusing on measures of educational diversity, we find that the effects differ considerably between MMTs and TMTs. TMTs diversity determines whether firms engage in innovation activities at all (strategic decision), while MMTs diversity affects the actual outcome of innovation processes (successful product innovations and their degree of market novelty).
    Keywords: Product innovation; diversity; middle management; top management; firm performance
    JEL: M12 M14 O30
    Date: 2019–02–12
  12. By: Ch.-M. CHEVALIER (Insee)
    Abstract: Innovation policies can consist in measures aimed at directly alleviating financial constraints of innovative firms, beyond more traditional fiscal incentives to foster private R&D spendings. To explore the interaction between innovation and financial constraints at the sector level, and evaluate stylized policy scenarios, this paper brings together two analytical frameworks from the endogenous growth and corporate finance literatures. Within this dynamic model, firms innovate and compete for products through destructive creation and accumulate internal funds in relation to financial hindrances occurring when they enter, develop or exit. Including notably asymmetric information between investors and managers of firms with respect to uncertain cash flows, this model is first consistent with the fact that firms tend to spend more on R&D when their internal funds are higher. It then allows for experi­ments addressing growth and overall liquidity holdings for various sectoral contexts. In this specific framework, easing access to initial funding, as fiscal incentives, can have substantial effects. More­over, while a stylized high-tech sector is asso­ciated with higher growth and overall liqui­dity holdings, both variables depend to a large extent on many sectoral characteristics, such as R&D efficiency, entry costs, and cash flow mean and volatility.
    Keywords: endogenous growth, liquidity management, product innovation, firm distribution, dynamic contracts
    JEL: C61 D21 E22 G32 L11 O31
    Date: 2018
  13. By: Asturias, Jose (Georgetown University Qatar); Hur, Sewon (Federal Reserve Bank of Cleveland); Kehoe, Timothy J. (Federal Reserve Bank of Minneapolis); Ruhl, Kim J. (University of Wisconsin)
    Abstract: Applying the Foster, Haltiwanger, and Krizan (FHK) (2001) decomposition to plant-level manufacturing data from Chile and Korea, we find that the entry and exit of plants account for a larger fraction of aggregate productivity growth during periods of fast GDP growth. Studies of other countries confirm this empirical relationship. To analyze this relationship, we develop a simple model of firm entry and exit based on Hopenhayn (1992) in which there are analytical expressions for the FHK decomposition. When we introduce reforms that reduce entry costs or reduce barriers to technology adoption into a calibrated model, we find that the entry and exit terms in the FHK decomposition become more important as GDP grows rapidly, just as they do in the data from Chile and Korea.
    Keywords: Entry; Exit; Productivity; Entry costs; Barriers to technology adoption;
    JEL: E22 O10 O38 O47
    Date: 2019–02–01
  14. By: Eduardo Gutiérrez Chacón (Banco de España); César Martín Machuca (Banco de España)
    Abstract: During the last years, Spanish goods exports have increased significantly against a background of widening of the Spanish firms exporting base. This change has been led by SMEs, although there is still a high concentration of international sales in a small fraction of large and stable exporters. In any case, potential export growth has improved thanks to the widening of stable exporters base and to their geographical diversification towards emerging markets. Exporting firms are greater and have higher labour productivity than those focused only in domestic markets. Also within exporting firms, those with stable and diversified external flows are positively selected in terms of productivity and size. The potential widening of the stable exporting base would require an improvement of the efficiency of the segment of SMEs. Removing potential regulatory barriers that might restrict their growth and innovation ability is key to consolidate their presence in international markets in the long run.
    Keywords: international trade, exports, firms, geographical diversification.
    JEL: F1 F14 F19 F23
    Date: 2019–02
  15. By: Laurent Cavenaile (University of Toronto); Pau Roldan (Banco de España)
    Abstract: This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D investment at the firm level. We develop a model of endogenous growth with firm heterogeneity that incorporates advertising decisions. We calibrate the model to match several empirical regularities across firm size using U.S. data. Through a novel interaction between R&D and advertising, our model provides microfoundations for the empirically observed negative relationship between both firm R&D intensity and growth, and firm size. Our model predicts substitutability between R&D and advertising at the firm level. Lower advertising costs are associated with lower R&D investment and slower economic growth. We provide empirical evidence supporting substitution between R&D and advertising using exogenous changes in the tax treatment of R&D expenditures across U.S. states. Finally, we find that R&D subsidies are more effective under an economy that includes advertising relative to one with no advertising.
    Keywords: endogenous growth, advertising, innovation, research and development, firm dynamics, policy
    JEL: E20 L10 M30 O31 O32 O33 O41
    Date: 2019–02
  16. By: Elkoussa, Hayssam; Williams, John
    Abstract: While much of our knowledge concerning traditional HR topics (e.g., recruiting, compensation, or performance management) in large firms may also apply in small or emerging organizations, evidence suggests that new ventures are different and that management of people within them may not clearly map to management within larger, more established organizations. This paper reviews extant research on managing people within small and emerging ventures and highlights additional questions that have not yet been addressed. Our review suggests that as scholars, our understanding of the HR issues important to small and emerging firms is limited. While we have begun to understand how these firms should hire, reward, and perhaps even motivate their employees, we lack much of the theory and data necessary to understand how small and emerging firms train their employees, manage their performance, promote or handle organizational change, or respond to potential labor relations and political issues. The existing literature presents an often-confounded relationship between size and age, between the issues important to small firms and the issues important to young ones. Given the potential early HR decisions must impact the organization's downstream success, it is important that we understand how these functional areas of HR (as well as their integration and evolution) affect small and emerging firms, and how the HR decisions made during the formative stages of firm development impact the firm's long-term goals.
    Keywords: Emerging Small Business, ethical, Sustainable, Performance Management, entrepreneurial model
    JEL: M5 M51 M54 O2 O21
    Date: 2019–01–15
  17. By: Marie-Laure Cabon-Dhersin (CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université); Romain Gibert (CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université)
    Abstract: In this paper, we compare the distributions of socially optimal public funding between private and public research sectors in cooperative and non-cooperative R&D settings in the presence of externalities. We show that the proportion of public funding allocated to the private sector research always increases with the level of inter-firm spillovers but decreases with the concentration of the industry. This share is smaller (larger) when firms cooperate in R&D than when they do not for high (low) spillovers. Moreover, increases in public knowledge externalities to the private sector due to a closer proximity between the two research sectors increase the share allocated to the public sector regardless of whether firms cooperate or not in R&D.
    Keywords: Oligopoly,R&D Cooperation,Spillovers,Knowledge public exter-nalities,public and private research,proximity,Public policy
    Date: 2019–02–04
  18. By: Amel Charleux (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier); Anne Mione (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier)
    Abstract: This research identifies business models (BM) adopted by editors of free and open source software. These models require an original BM approach because the value creation depends on the project attractiveness on contributors whose number, quality and diversity are not controlled. This specificity raises the question of how sharing a value that cannot be anticipated or formally negotiated. We carry out a quantitative analysis of nearly 200 software and perform a taxonomy using the TwoStep Cluster method. Our results reveal four BMs, commitment, exploration, expertise and optimization.
    Abstract: Cette recherche identifie les business models (BM) mis en œuvre par les éditeurs de logiciels libres et open source. Ces modèles requièrent une approche originale des BM parce que la création de la valeur dépend de l'attractivité du projet auprès de contributeurs dont le nombre, la qualité et la diversité ne sont pas contrôlés. Cette spécificité pose la question du partage d'une valeur qui ne peut pas être anticipée ni formellement négociée. Nous procédons à une analyse quantitative de près de 200 logiciels et réalisons une taxonomie par la méthode TwoStep Cluster. Nos résultats mettent au jour quatre BM, engagement, exploration, expertise et optimisation.
    Keywords: open source,open innovation,business model,innovation ouverte
    Date: 2018
  19. By: Selcuk Gul; Huseyin Tastan
    Abstract: This paper investigates the significance of internal finance in determining firms' fixed capital investments. We estimate an investment model which allows us to test whether the marginal impact of cash flows on investment varies with the central bank's monetary policy stance, financial conditions at the macro level and the Global Financial Crisis (GFC). Using a comprehensive panel data set of Turkish small and medium-sized enterprises (SMEs) in the manufacturing sector, we find that investment-cash flow sensitivity is positive and statistically significant. This result implies that Turkish firms are financially constrained by internal finance. Results suggest that the monetary policy stance, represented by various indicators for robustness, significantly affects firms' financing constraints. In particular, investment-cash flow sensitivity declines during expansionary monetary policy periods. However, the argument does not hold for financially less constrained firms which can access external finance relatively easily. Having examined the response of firms' financing constraints to changes in financial conditions, we find that the investment-cash flow sensitivity declines when financial conditions are relatively supportive. Finally, firms need cash flow more for investing in the GFC compared to other years. The finding is consistent with relatively less availability of external funds in crisis periods.
    Keywords: Investment-cash flow sensitivity, Financing constraints, Monetary policy stance, Financial conditions index
    JEL: C33 D92 E22
    Date: 2018
  20. By: Rostand Affogbolo (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes - IUML - FR 3473 Institut universitaire Mer et Littoral - UBS - Université de Bretagne Sud - UM - Le Mans Université - UA - Université d'Angers - CNRS - Centre National de la Recherche Scientifique - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UN - Université de Nantes - ECN - École Centrale de Nantes, LS2N - Laboratoire des Sciences du Numérique de Nantes - UN - Université de Nantes - ECN - École Centrale de Nantes - CNRS - Centre National de la Recherche Scientifique - IMT Atlantique - IMT Atlantique Bretagne-Pays de la Loire)
    Abstract: L'internet des Objets (IoT) est aujourd'hui considéré comme une approche technologique clé dans le cadre de l'innovation et de la transformation numérique des entreprises. En raison des possibilités disruptives qui lui sont prêtées, notamment en termes de reconfiguration de business model (BM), les entreprises y prêtent de plus en plus attention. Cependant, pour tirer pleinement partie des bénéfices associés à l'IoT, elles doivent surmonter les challenges et barrières inhérents. Le but de cet article est d'examiner ces challenges et barrières à l'adoption de l'IoT. A travers une méta-analyse conduite sur un corpus empirique de 8 études d'instituts, cabinets conseil et ESN représentant un échantillon cumulé de 6237 répondants décisionnaires, nous mettons en évidence les dimensions du BM influencées par les challenges et barrières à l'adoption de l'IoT et à l'innovation par l'IoT.
    Keywords: IoT,Business model,Innovation,Méta-analyse,Barrière
    Date: 2018–06–04

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