nep-sbm New Economics Papers
on Small Business Management
Issue of 2019‒12‒23
twenty-two papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. Public R&D and green knowledge diffusion:\r\nEvidence from patent citation data By Gianluca ORSATTI
  2. Financial Constraints of Entrepreneurs and the Self-Employed By Mikhed, Vyacheslav; Raina, Sahil; Scholnick, Barry
  3. Opening the black box of university-suppliers' co-invention: some field study evidence. By Sofia Patsali
  4. Determinants of financing of agricultural microenterprises by microfinance institutions: the case of Burundi By Théogène Nsengiyumva; Célestin Mayoukou
  5. Does Electrification Cause Industrial Development? Grid Expansion and Firm Turnover in Indonesia By Dana Kassem
  6. Modeling market to commercialize innovation: how the forgotten historical figure of salesman helps us learn on how firms design market models By Maxime Thomas; Pascal Le Masson; Benoit Weil
  7. What have Vietnamese scholars learned from researching entrepreneurship?: A systematic review By Vuong, Quan-Hoang; La, Viet-Phuong; Ho, Toan Manh; Vuong, Thu-Trang; Hoang, Hanh Phuong
  8. Implementing Smart Specialisation: An analysis of practices across Europe By Caroline Cohen
  9. DECLINING BUSINESS DYNAMISM By Gert Bijnens; Joep Konings
  10. Top management team nationality diversity, corporate entrepreneurship, and innovation in multinational firms By C Boone; B Lokshin; H Guenter; Rene Belderbos
  11. Peningkatan Pendapatan Daerah Berbasis Pada Usaha Mikro, Kecil, Dan Menengah By ARISTO, Jurnal
  12. The Impacts of Patent and R&D Expenditures on the High-Tech Exports of Newly Industrialised Countries: A Panel Cointegration Analysis By Robert Ackrill; Rahmi Cetin
  13. EIDES 2019 - The European Index of Digital Entrepreneurship Systems By Erkko Autio; Laszlo Szerb; Eva Komlosi; Monika Tiszberger
  14. Productivity Dynamics in French Woodworking Industries. By Enrico De Monte; Anne-Laure Levet
  15. Exporting and productivity as part of the growth process: Causal evidence from a data-driven structural VAR By Tommaso Ciarli; Alex Coad; Alessio Moneta
  16. Taxation and the life cycle of firms By Andrés Erosa; Beatriz González
  17. Performance-based managed entry agreements for new medicines in OECD countries and EU member states: How they work and possible improvements going forward By Martin Wenzl; Suzannah Chapman
  18. Talents from Abroad. Foreign Managers and Productivity in the United Kingdom. By Dimitrios Exadactylos; Massimo Riccaboni; Armando Rungi
  19. Coping with societal challenges: Lessons for innovation policy governance By Jan Fagerberg; Gernot Hutschenreiter
  20. Global sourcing, firm size and export survival By Bandick, Roger
  21. Determinants of growth in research spin-offs: a resource-based perspective By Elisa Salvador; Cristina Marullo; Andrea Piccaluga
  22. Radical, Disruptive, Discontinuous and Breakthrough Innovation: More or the same? By Adrián Kovács; Cristina Marullo; Dennis Verhoeven; Alberto Di Minin; Bart Van Looy

  1. By: Gianluca ORSATTI
    Abstract: The present paper investigates the relationship between public R&D and the diffusion of green knowledge. To do so, we exploit information contained in green patents filed at the European Patent Office from 1980 to 1984. The diffusion of green knowledge is measured by meaning of patent citations. The level of public R&D is instrumented through the policy reaction to the 1986 Chernobyl nuclear accident – that affected the level of public R&D in the energy generation domain – in a difference in differences setting. Results show that a 10% increase in public R&D increases by around 0.7% the number of citations to green patents. Moreover, increasing public R&D fosters the diffusion of green knowledge across traditional (non-green) domains and increases the average technological distance of inventions citing green patents. This evidence suggests that public R&D is a driver of green knowledge diffusion, accelerates the hybridization of traditional innovation processes and fosters technological diversification.
    Keywords: Public R&D, Green innovation, Knowledge diffusion, Patent citations, Environmental policy, Green R&D
    JEL: O30 O32 O33 O38 Q55
    Date: 2019
  2. By: Mikhed, Vyacheslav (Federal Reserve Bank of Philadelphia); Raina, Sahil (University of Alberta); Scholnick, Barry (University of Alberta)
    Abstract: Growth-oriented entrepreneurial start-ups generate more economic growth than other self-employed businesses, yet they only constitute a small fraction of start-ups. We examine whether financial constraints impede these types of start-ups by exploiting lottery wins as exogenous wealth shocks. We find that lottery-win magnitude increases winners’ subsequent incorporation, implying that entrepreneurs face financial constraints, but not business registration, implying that financial constraints do not bind as much for the self-employed. Our results, that financial constraints bind for incorporations among men, for serial entrepreneurs, during economic booms, and in neighborhoods without local lenders, are important for understanding the financial impediments to entrepreneurial start-ups.
    Keywords: entrepreneurship; self-employment; financial constraints
    JEL: G21 L26 M13
    Date: 2019–12–11
  3. By: Sofia Patsali
    Abstract: While there is extensive evidence that the flow of knowledge between academia and industry is important, scholars have noticed that little is known about the actual transmission mechanisms of these influences (Rosenberg and Nelson, 1994; Kenney and Patton, 2009). The paucity of research reflects the fact that university-industry exchanges are a complex process that involves many factors that are difficult to grasp. Furthermore, the practical benefits of most university research for companies stem from interactions and processes that are very much roundabout and indirect (Pavitt, 2005). For instance, a case in point of such processes consists of the technology-intensive interactions between academics and their suppliers of equipment (Perkmann and Walsh, 2007). This paper explores the emergence of dynamic complementarities among researchers’ demand and suppliers’ competencies and aims to identify the dynamic processes through which university labs serve as learning-environment for suppliers. We conducted field-study based on a set of instrumental devices developed in close collaboration between University of Strasbourg laboratories on the one hand, and equipment manufacturers on the other hand. Our case studies illustrate a multitude of patterns through which researchers share their technological knowledge with industrial suppliers. More precisely, our evidence shows the presence of a “procurement-led” innovation phenomenon wherein university researchers provide companies with unique insights by acting both as equipment-demanders as well as suppliers of scientific knowledge about instruments, ultimately allow firms to explore new innovative trajectories.
    Keywords: University-industry interactions; scientific instrumentation; technology co-development; public procurement.
    JEL: D22 D83 H57 O33
    Date: 2019
  4. By: Théogène Nsengiyumva (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); Célestin Mayoukou (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: Cette étude a comme objectif, d'identifier les déterminants du faible financement des microentreprises agricoles par les IMF au Burundi. Les données utilisées sont issues des 6IMF du Burundi. A l'aide du modèle économétrique probit, les résultats révèlent que plusieurs facteurs empêchent les IMF à financer plus efficacement les microentreprises agricoles. C'est le cas du manque et/ou faible qualité des garanties de la part des MPE, les besoins financiers exprimés par l'exploitant agricoles, la faible organisation des exploitants agricoles en groupement solidaire. De même la nature de l'activité agricole à financer constitue également un facteur déterminant pour le financement. Ainsi la restructuration des fonds de garantie en général et ceux des micro entrepreneurs agricoles en particulier, l'organisation des micro entrepreneurs dans des groupements associatifs inciteraient plus les IMF à contribuer plus efficacement au financement des micro-activités agricoles entrepreneuriales. Abstarct This study has as objective, to identify the determinants of the selectivity of the agricultural entrepreneurial microcredits by MFIs in Burundi. The data used are from the 6MFIs of Burundi. The econometric model using logit, the results show that several factors prevent the MFIs to finance more effectively the agricultural entrepreneurial Small-activities. For example the lack of guarantees on the part of MEPs, the financial needs expressed by the farm operator, the weak organization of farmers in solidarity group. In addition to these factors, forcing the MFIs to contribute more intensely to the financing of the agricultural entrepreneurial Small-activities, the nature of agricultural activity to finance is also a determining factor for the funding. In this way, restructuring of guarantee funds and those of the micro farming entrepreneurs in particular, the Organization of micro entrepreneurs in associative groupings would encourage more MFIs to contribute more effectively to the financing of entrepreneurial farming Small-activities.
    Keywords: Microfinance,Microentreprises agricoles,entrepreneuriat,finance,contraintes,Burundi Keywords: Microfinance,agricultural entrepreneurial Small-activities,entrepreneurship,forced,Burundi 2
    Date: 2018–11
  5. By: Dana Kassem
    Abstract: I ask whether electrification causes industrial development. I combine newly digitized data from the Indonesian state electricity company with rich manufacturing census data. To understand when and how electrification can cause industrial development, I shed light on an important economic mechanism - firm turnover. In particular, I study the effect of the extensive margin of electrification (grid expansion) on the extensive margin of industrial development (firm entry and exit). To deal with endogenous grid placement, I build a hypothetical electric transmission grid based on colonial incumbent infrastructure and geographic cost factors. I find that electrification causes industrial development, represented by an increase in the number of manufacturing firms, manufacturing workers, and manufacturing output. Electrification increases firm entry rates, but also exit rates. Empirical tests show that electrification creates new industrial activity, as opposed to only reorganizing industrial activity across space. Higher turnover rates lead to higher average productivity and induce reallocation towards more productive firms in electrified areas. This is consistent with electrification lowering entry costs, increasing competition and forcing unproductive firms to exit more often. Without the possibility of entry or competitive effects of entry, the effects of electrification are likely to be smaller.
    JEL: D24 L60 O13 O14 Q41
    Date: 2019–07
  6. By: Maxime Thomas (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique, MINES ParisTech - École nationale supérieure des mines de Paris); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique, MINES ParisTech - École nationale supérieure des mines de Paris); Benoit Weil (MINES ParisTech - École nationale supérieure des mines de Paris, CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Innovation commercialization phase appears more and more as an issue for both marketing and innovation management literatures. This paper studies a particular aspect of innovation commercialization, namely the market-model design activities occurring during this phase. The paper builds on an underlying paradox of the literature. On a one hand consistent market models are useful for company to commercialize innovation and on the other hand marketization literature claims that the relevant variables depicting a market are countless and unknown. To sort out how market-modeling activities support innovation commercialization we conducted seven longitudinal historical case studies on commercial travellers. We looked for how 19 th century companies employing commercial travellers structured their market models to foster commercialization excellence. Our results indicate that these companies used representations of the market that can be define as ad hoc market models. The representations are models as they are built only on few coherent variables but they are ad hoc as they differ from one case to another. Given these results we discuss the specificities of the design of ad hoc market models and define the innovation commercialization phase as the market-model design phase.
    Date: 2019–06–17
  7. By: Vuong, Quan-Hoang; La, Viet-Phuong; Ho, Toan Manh (Thanh Tay University Hanoi); Vuong, Thu-Trang; Hoang, Hanh Phuong (Vietnam National Institute of Educational Sciences)
    Abstract: Entrepreneurship has contributed to the rise and stability of Vietnamese economy through innovation, job creation, and nurturing entrepreneurial spirit. Using a structured database of Vietnamese researchers’ scientific publications, the study was able to identify 111 research on entrepreneurship from 2008 to 2018. Then, a homemade software was designed to analyze the data, and produce descriptive tables, charts, and network maps. The results show limited scope and quantity over the past ten years. Moreover, research topics were scattered with most interests focused on management, finance, and legal issues. Technology, gender, and internationalization are attracting public attention but remain underresearched. In the future, entrepreneurial venture and startups in Vietnam will benefit from the growing number of scientific publications.
    Date: 2019–02–24
  8. By: Caroline Cohen (European Commission - JRC)
    Abstract: This report seeks to examine how the Smart Specialisation approach was put into practice across European regions and Member States. It builds upon 35 implementation cases, outlining three main types of challenges that policy-makers are seeking to address through the implementation of their Smart Specialisation Strategies: 1) the involvement of stakeholders in a continuous dialogue to drive the territorial innovation process; 2) the development of efficient innovation policy instruments to support the structural transformation of the economy at regional and/or national level; 3) the pursuit of the internationalisation of the regional/national economy as well as the positioning in European value chains. For each key challenges identified, the report sheds light on the success-conducive factors and tools that have been used by policy-makers to manage the Smart Specialisation policy process, as well as the recurring types of outcomes that were achieved thanks to the implementation of Smart Specialisation related policies. The study lays out a broad range of research and innovation support systems that have been developed and that have driven a) a wider implication of stakeholders in innovation projects; b) the articulation and better functioning of innovation ecosystem; c) the reinforcement of transnational cooperation in S3 priority domains, although joint investment is still a weak point at this stage.
    Keywords: Smart Specialisation, Territorial Development, Innovation Policies, Stakeholders involvement
    Date: 2019–12
  9. By: Gert Bijnens; Joep Konings
    Abstract: We build on Decker et al. (2016) who show that business dynamism and entrepreneurship in the U.S. have declined over recent decades and that the characteristics of this decline changed around 2000. Since 2000 the U.S. decline in dynamism has been accompanied by a decline in high-growth, young firms. Using 30 years of data from all for-profit firms incorporated in Belgium, we now offer evidence that Belgium, a far more rigid economy than the U.S., experienced a similar decline in dynamism. Furthermore, the decline set in around 2000 as well. We attribute this not only to the declining share of young firms that become high-growth firms, but more importantly also to the declining propensity for small (not necessarily young) firms to experience fast growth. We do not yet know what caused this decline. Since there are remarkable similarities between Belgium and the U.S. with respect to the secular decline in business dynamism, global trends rather than country specific changes are most likely to be at the basis of this evolution. A possible global trend causing dynamism to decline, is the ICT revolution that started the second half of the ’90s. We find preliminary indications that industries with higher ICT intensity have experienced a dynamism trend change during that same period and show a steeper dynamism decline.
    Date: 2018–01
  10. By: C Boone; B Lokshin; H Guenter; Rene Belderbos
    Abstract: We integrate insights from upper echelon theory and the literature on innovation and multinational corporations (MNCs) to develop a framework explaining when and why nationality diversity in top management teams (TMTs) affects corporate entrepreneurship—as evidenced by diversity in global knowledge sourcing—and through this innovation performance in MNCs. In a panel of 165 manufacturing MNCs based in 20 countries, we confirm that the positive effects of TMT nationality diversity on corporate entrepreneurship and innovation are only unleashed in TMTs with low social stratification and in MNCs located in home countries that are low in national power distance. Our study contributes to opening up the black box of the upper echelon’s strategic role in spurring entrepreneurship and innovation in MNCs embedded in different cultures.
    Date: 2018–10–23
  11. By: ARISTO, Jurnal
    Abstract: The development of small and micro enterprises have a very important role in the development of the regional economy. it can be seen from the amount of employment opportunities provided by UMKM for the community. UMKM existence cannot be under timed, because UMKM have a proven able to with stand the economic crisis that occurred in Indonesia. However, in the development of UMKM cannot be separated from in habiting fact that hit existence of UMKM. Several classic problems that occur in UMKM is lack of capital in the developing the business, unhealthy market competition that still happening until now is the market competition with product made in china. Lack of information about the market network and still lack of innovation in creating new product-products. UMKM therefore very much require the role of government in the developing small andmiddlebusiness.
    Date: 2018–01–12
  12. By: Robert Ackrill; Rahmi Cetin
    Abstract: In this paper, we have sought to complement the extensive literature analysing firm level data on the links between innovation and exports, with an exploration of whether these variables are related at the country-level, for a group of eight NICs. We have been particularly interested with innovation in and export of high-tech products. At the outset, we identified seven hypotheses for testing. Our findings are that, for our panel of eight NICs over the period 1996-2014, patents and R&D expenditures both exert a significant positive effect on these countries’ exports of high-tech goods.
    Date: 2019–12
  13. By: Erkko Autio (Imperial College London Business School); Laszlo Szerb (University of Pécs); Eva Komlosi (University of Pécs); Monika Tiszberger (University of Pécs)
    Abstract: Digitalisation is shaping and even transforming both the location and nature of entrepreneurial opportunities in the economy and the practices to pursue them. In order to help maximise the productivity potential of the digitally enhanced entrepreneurial dynamic in countries, policymakers need to understand the state of their countries' digital framework conditions for entrepreneurship. The European Index of Digital Entrepreneurship Systems (EIDES) addresses this gap by monitoring digital framework and systemic conditions for entrepreneurial stand-up, start-up, and scale-up in the EU28 countries.
    Keywords: Digital Economy, Entrepreneurship, Start-up.
    Date: 2019–11
  14. By: Enrico De Monte; Anne-Laure Levet
    Abstract: This paper investigates productivity dynamics of firms active in French woodworking 4- digit industries. For this purpose we analyze firm-level data from the two fiscal data bases FICUS (1994 - 2008) and FARE (2008 - 2016). Based on firm-level productivity measures, recovered from the estimation of a value-added Cobb-Douglas production function, we mainly study the industries’ aggregate productivity growth related to entry and exit. Also, by constructing a transition matrix we investigate firms’ probability to survive, enter or exit given a specific ranking of their productivity. We find that all industries increased considerably their aggregate productivity between 1994 and 2016, where the by far largest part of this positive development is contributed by survivors productivity improvement. Entrants contribute negatively to aggregate productivity growths while the contribution of exitors varies in sign for different industries. Also, we find that firms reveal high persistence in their productivity ranking over time and that entry and exit is more probable for low productive and small firms.
    Keywords: production function estimation, aggregate productivity, productivity decomposition, technological change, firm entry and exit.
    JEL: C13 C14 D24 D30 O47
    Date: 2019
  15. By: Tommaso Ciarli; Alex Coad; Alessio Moneta
    Abstract: This paper introduces a little known category of estimators - Linear Non-Gaussian vector autoregression models that are acyclic or cyclic - imported from the machine learning literature, to revisit a well-known debate. Does exporting increase firm productivity? Or is it only more productive firms that remain in the export market? We focus on a relatively well-studied country (Chile) and on already-exporting firms (i.e. the intensive margin of exporting). We explicitly look at the co-evolution of productivity and growth, and attempt to ascertain both contemporaneous and lagged causal relationships. Our findings suggest that exporting does not have any causal influence on the other variables. Instead, export seems to be determined by other dimensions of firm growth. With respect to learning by exporting (LBE), we find no evidence that export growth causes productivity growth within the period and very little evidence that exporting growth has a causal effect on subsequent TFP growth.
    Keywords: Productivity; Exporting; Learning-by-exporting; Causality; Structural VAR; Independent Component Analysis.
    Date: 2019–12–20
  16. By: Andrés Erosa (Universidad Carlos III de Madrid); Beatriz González (Banco de España and Universidad Carlos III de Madrid)
    Abstract: The Hopenhayn and Rogerson (1993) framework is extended to understand how different forms of taxing capital income affect firms’ investment and financial policies over their life cycle. Corporate income taxation slows down firm growth over the life cycle by reducing after-tax profits available for reinvesting, and it distorts optimal firms’ size. Dividend income taxation reduces external equity financing, but it does not affect size at maturity. Capital gains taxes make firms start larger, so that internal growth is lower. With these mechanisms in mind, we calibrate our economy to the US and discuss different revenue-neutral tax reforms that might lead to increases in aggregate output and capital.
    Keywords: macroeconomics, capital income taxation, firm dynamics, investment
    JEL: D21 E22 E62 G32 H32
    Date: 2019–12
  17. By: Martin Wenzl (OECD); Suzannah Chapman (OECD)
    Abstract: This paper presents findings of an OECD review of managed entry agreements in OECD countries and EU member states conducted in 2018 and 2019. Findings are based on discussions with the OECD Expert Group on Pharmaceuticals and Medical Devices, responses by experts from 12 OECD countries to a survey and semi-structured interviews, and on the literature as well as information published by national authorities responsible for coverage and pricing of medicines.
    JEL: H51 I11 I13 O32 O38
    Date: 2019–12–19
  18. By: Dimitrios Exadactylos (IMT School for advanced studies); Massimo Riccaboni (IMT School for advanced studies); Armando Rungi (IMT School for advanced studies)
    Abstract: In this paper, we test the contribution of foreign management on firms competitiveness. We use a novel dataset on the careers of 165,084 managers employed by 13,106 companies in the United Kingdom in the period 2009-2017. We find that a domestic manufacturing firm becomes on average between 9% and 12% more productive after hiring at least one foreign manager. Interestingly, productivity gains by domestic firms after recruiting foreign managers are similar in magnitude to gains after foreign acquisitions as from previous literature. Eventually, we do not find significant gains by foreign-owned firms hiring foreign managers. Our identification strategy combines difference-in-difference and matching techniques to challenge reverse causality. We proxy firms competitiveness either by total factor productivity or by technical efficiency derived from stochastic frontier analyses. Eventually, we argue that limits to the circulation of talents, as for example in case of a Brexit event, may hamper the allocation of labor productive resources.
    Keywords: managers; productivity; job mobility; spillovers; multinational enterprises; migration
    JEL: F22 F23 L23 L25 J61 M11
    Date: 2019–12
  19. By: Jan Fagerberg (Centre for Technology, Innovation and Culture, University of Oslo & UNU-MERIT); Gernot Hutschenreiter (Organisation for Economic Co-operation and Development (OECD), Directorate for Science, Technology and Innovation)
    Abstract: Grand societal challenges, such as global warming, can only be adequately dealt with through wide-ranging changes in technology, production and consumption, and ways of life, that is, through innovation. Furthermore, change will involve a variety of sectors or parts of the economy and society, and these change processes must be sufficiently consistent in order to achieve the desired results. This poses huge challenges for policy-making. In this paper we focus on implications for the governance of innovation policy, i.e., policies influencing a country’s innovation performance. Based on a systemic understanding of innovation and the factors shaping it, the paper highlights the need for effective coordination of policies influencing innovation and what changes in innovation policy governance this may require. To throw further light on how this may be realised the paper discusses evidence on national innovation policy practice, from Finland, the Netherlands and Sweden, respectively, drawing on the country reviews of innovation policy conducted by the OECD as well as other sources. It is concluded that for innovation policy to tackle societal challenges effectively, clearer goals and stronger and better coordination among the various actors – both public and private – whose actions matter for innovation performance will be required. Based on the experiences of the three countries the paper particularly considers the role that comprehensive and inclusive innovation policy councils, with the prime minister in a central role, may play in such a process.
    Date: 2019–12
  20. By: Bandick, Roger
    Abstract: This paper investigates how firm size and global sourcing affect the export surviving probabilities. By using data on export and import transactions disaggregated by destination/origin for the entire Danish manufacturing firms between the periods 1995-2006, the author is able to classify the firms into different size categories and to observe whether they continue or cease to export. Moreover, he is able to define whether the firms source intermediate inputs from high- or low-wage counties. The results, after controlling for the endogeneity of the international sourcing decision by using IV and matching approach, indicate that firm size is positively correlated with the likelihood of continuing to export. Moreover, for small and medium size firms, global sourcing seems also to increase the probability of staying in the export market but only if they source from high- wage countries. However, sourcing inputs from abroad, no matter if it is from high- or low-wage countries, do not seem to significantly affect the export surviving probabilities for larger firms.
    Keywords: global sourcing,firm size,export,IV,matching,cloglog
    JEL: F16 F23 J24 L25
    Date: 2019
  21. By: Elisa Salvador (ESSCA - Groupe ESSCA); Cristina Marullo (Scuola Superiore Sant'Anna [Pisa]); Andrea Piccaluga (Scuola Superiore Sant'Anna [Pisa])
    Abstract: There are strong expectations towards research spin-offs, but insufficient empirical evidence still exists on the determinants of growth of such companies. The aim of this paper is to contribute to the debate on growth -or non-growth- of research spin-offs through a focus on Italy. A resource-based perspective is adopted for identifying the crucial determinants of competitive advantage of these companies, and an OLS regression analysis is performed to assess the impact of initial resources on growth in revenues and employees. Our analysis highlights unexpected results about the involvement of industrial partners, venture capitalists, size of IPRs' portfolio at founding and previous experience of the promoting partners.
    Abstract: Il existe de fortes attentes en ce qui concerne les entreprises spin-off de la recherche, mais il existe encore peu d'évidence empirique sur les déterminants de la croissance de ces entreprises. L'objectif de cet article est de contribuer au débat sur la croissance -ou la non-croissance- des entreprises spin-off de la recherche en mettant l'accent sur l'Italie. Une perspective basée sur les ressources est adoptée pour identifier les déterminants cruciaux de l'avantage concurrentiel de ces entreprises, et une analyse de régression OLS est effectuée pour évaluer l'impact des ressources initiales sur la croissance des revenus et des employés. Notre analyse met en évidence des résultats inattendus concernant la participation de partenaires industriels, de capital-risqueurs, la taille du portefeuille de DPI à la fondation et l'expérience antérieure des partenaires de promotion.
    Keywords: Academic entrepreneurship,research spin-offs,Technology transfer,Knowledge valorisation,Resource-based view
    Date: 2019
  22. By: Adrián Kovács; Cristina Marullo; Dennis Verhoeven; Alberto Di Minin; Bart Van Looy
    Abstract: The scholarship on innovation has stressed the importance of distinguishing ‘exceptional’ innovation from ‘run-of-the-mill’ innovation in both conceptual and empirical terms. Over recent decades, various labels have been coined to denote the exceptional nature of innovation. At the same time, research on this topic has been critiqued for its ambiguity in accurately defining and delineating the phenomena under study and, consequently, putting in jeopardy the development of a cumulative body of understanding. We revisit this concern by systematically reviewing three decades of research advanced under the labels of radical, disruptive, breakthrough and discontinuous innovation. We combine two bibliometric techniques – bibliographic coupling and co-citation analysis – to (i) explore the theoretical foundations of these labels and (ii) delineate the thematic orientation of the scholarship pursued under these labels. Our results reveal a dense and growing network of publications that build, in large measure, on the same scientific foundations. In terms of thematic orientation, five overlapping clusters are present, with specific labels scattered across the thematic landscape. These findings suggest that the different labels do not denote clearly distinct bodies of academic scholarship. A subsequent content analysis of the definitions advanced in the most cited papers reveals two discrete underlying dimensions: novelty and impact. Yet, none of the labels characterize innovations across these two dimensions with any consistency. Although this ‘lack of rigor’ would seem to yield no detrimental effects in terms of growth (of scholarship), we argue that conflating novelty and impact can result in ambiguous results. We conclude, therefore, that consistency in the use (and operationalization) of both dimensions would benefit our (cumulative) understanding of the (complex) phenomena involved.
    Keywords: radical innovation, disruptive innovation, discontinuous innovation, breakthrough innovation, bibliometric analysis
    Date: 2019–04–24

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