nep-sbm New Economics Papers
on Small Business Management
Issue of 2021‒11‒22
seven papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. The Intellectual Assets in Europe By Costantiello, Alberto; Laureti, Lucio; Leogrande, Angelo
  2. Invoice Currency Choice under Financial Constraints and Bargaining: Evidence from Japanese SMEs By GOTO Mizuki; HAYAKAWA Kazunobu; KOIBUCHI Satoshi; YOSHIMI Taiyo
  3. A project-level approach to green open innovation By Lorena D'Agostino
  4. The Indian Startup Ecosystem and Policy Implications By Han, Hyoungmin; Kim, Jeong Gon; Kim, Doyeon; Lee, Sunghee; Pek, Jong Hun
  5. As long as you talk about me: The importance of family firm brands and the contingent role of family-firm identity By P. Rovelli; C. Benedetti; A. Fronzetti Colladon; A. De Massis
  6. The Determinants of Competitiveness of the Portuguese Defense Industry By Roxanne Merenda
  7. Challenges for University - Industry Collaboration - a Stakeholder View By Ulrike Michel-Schneider

  1. By: Costantiello, Alberto; Laureti, Lucio; Leogrande, Angelo
    Abstract: In this article we investigate the determinants of the Intellectual Assets in Europe. We use data from the European Innovation Scoreboard of the European Commission in the period 2000-2019 for 36 countries. Data are analyzed using Panel with Fixed Effects, Random Effects, WLS, Pooled OLS, Dynamic Panel at 1 Stage. Results show that the presence of Intellectual Assets in Europe is positively associated with “Enterprise Births”, “Top R&D Spending Enterprises per 10 mln Population”, “Employment Share Manufacturing”, “Share High and Medium high-tech Manufacturing”, “Attractive Research Systems”, “Finance and Support”, “Innovators”, “Sales Impact” and is negatively associated to “Government Procurement of Advanced Technology Products” and “Share Knowledge-Intensive Services”
    Keywords: Innovation, Innovation, and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Diffusion Processes; Open Innovation.
    JEL: O30 O31 O32 O33 O34
    Date: 2021–11–04
  2. By: GOTO Mizuki; HAYAKAWA Kazunobu; KOIBUCHI Satoshi; YOSHIMI Taiyo
    Abstract: Recent empirical studies explore factors behind the currency invoicing pattern in exports of listed firms by using questionnaire surveys; however, there is insufficient evidence regarding small and medium-sized enterprises (SMEs). We conducted a questionnaire survey for 2,100 unlisted manufacturers engaged in exports during the 2010s and received responses from 300 firms. By constructing a database with invoice currency choice and trade partner by export destination, we empirically examine the determinants of invoice currency choice in export using the probit model estimation. We confirm that the major determinants of currency invoicing in existing research effectively work as determinants of currency invoicing by SMEs. After controlling for various determinants, we found that financial constraints play an important role in their invoice currency choice. The firms with deteriorated capital ratios and rapid sales growth depend more on the producer's currency invoicing. The results are confirmed through a robustness test using detailed financial data, showing that the firms with lower capital ratios, lower liquidity positions, and greater investment opportunities tend to use the producer's currency invoicing. These novel findings are consistent with the predictions from the theoretical research on the bargaining model of currency invoicing and corporate risk management for hedging.
    Date: 2021–10
  3. By: Lorena D'Agostino (University of Milano-Bicocca)
    Abstract: Innovation is a crucial dimension for the transition to a greener Europe, a process that has accelerated notably in the latest years. An open mode has been applied to those innovation that mitigate the impact of economic activities on the natural environment, which is green open innovation (GOI). This is approach is mainly driven by the importance of stakeholders and the specificity of environmental fields, which call for a greater role of the external collaboration in green innovation. Although the interest of management scholars and practitioners in GOI has increased enormously, the empirical GOI literature has overlooked a project-level approach. Firms may have heterogenous openness across different projects depending on the characteristics of the projects or the strategic objective of the firm. This paper contributes to GOI literature by investigating whether green projects are more open than non-green projects in terms of breadth and depth of knowledge sources. Based on a dataset of projects funded by Seventh European research framework, the results confirm the greater openness of environmental-related research projects. These results corroborate the necessity for managers to apply an open mode to green innovation, especially in highly competitive calls such as the European Union framework program.
    Keywords: green open innovation; eco-innovation; sustainability; EU framework programs; FP7; projects; breadth; depth; openness.
    JEL: M20 O32 Q56
    Date: 2021–10
    Abstract: A startup refers to a company with ideas and innovative technologies, which have a short period of experience. Recently, startups are leading the fourth industrial technological innovation and affecting job creation and industrial productivity growth, so that its economic importance is increasing. In particular, India is emerging as a startup powerhouse based on its fast-growing economy and relatively cost-efficient excellent talent pool. Also, global investment towards the Indian startup market is increasing. While the number of Korean companies entering the Indian startup market is increasing, only a few have made stable inroads into the market. Based on quantitative data, literature analysis, corporate case analysis, surveys, and in-depth interviews, we objectively identified the Indian startup ecosystem and drew policy implications to increase the accessibility of Korean firms to the Indian market.
    Keywords: India; startup; investment; quantitative data; literature analysis; survey; policy
    Date: 2021–06–01
  5. By: P. Rovelli; C. Benedetti; A. Fronzetti Colladon; A. De Massis
    Abstract: This study explores the role of external audiences in determining the importance of family firm brands and the relationship with firm performance. Drawing on text mining and social network analysis techniques, and considering the brand prevalence, diversity, and connectivity dimensions, we use the semantic brand score to measure the importance the media give to family firm brands. The analysis of a sample of 52,555 news articles published in 2017 about 63 Italian entrepreneurial families reveals that brand importance is positively associated with family firm revenues, and this relationship is stronger when there is identity match between the family and the firm. This study advances current literature by offering a rich and multifaceted perspective on how external audiences perceptions of the brand shape family firm performance.
    Date: 2021–10
  6. By: Roxanne Merenda
    Abstract: This paper exploits a panel data ranging from 2010 to 2019 to investigate firm-level determinants of export intensity in the Portuguese defense industry, using a fixed effects model. As in any study exploiting corporate finance panel data, it is likely that some variables are endogenous due to reverse causality. Although we address this issue, the interpretation of our results cannot be fully causal. We find evidence that learning economies, proxied by export persistence, are the largest determinants associated with export intensity at firm level. Worker productivity and firm size also play a positive and significant role. Financial indicators such as financial pressure and leverage ratio negatively correlate with export intensity, albeit not always significantly. Finally, and contrary to the literature, we cannot find evidence that the Portuguese defense industry’s competitiveness rely on investment and R&D, nor is it impacted by geographical agglomeration.
    Keywords: Exports, Competitiveness, Firm-level data, Defense industry
    JEL: D22
    Date: 2021–11
  7. By: Ulrike Michel-Schneider (Czech Technical University in Prague, Faculty of Civil Engineering)
    Abstract: Purpose - The innovation strategies of the European Union and its member states have been well established over time and their implementation is being supported through government funding and legislative policies. This includes the promotion of strategic University-Industry Collaboration (UIC) involving its heterogeneous stakeholder groups. The purpose of this paper is to provide a shareholder analysis in form of defining the UIC activities, UIC shareholders and their interests and power in such collaboration while addressing the major challenges.Methodology ? A comprehensive thematic literature review of scientific research, as well as institutionally conducted research (primarily by European Union organisations) has been performed.Findings ? The review lays out the interest and power of the individual stakeholders while members of Academia, Industry and Government being the most influential ones. The primary challenges for Academia and Industry remain access to funding, however, also the tackling of contrary mindsets and mission as well as overcoming organisational and cultural differences create serious barriers to a successful cooperation.Practical Implication: Preparing a shareholder analysis in the area of UIC and deriving with a thorough understanding of the shareholders motivation and power of UIC involvement will help prioritizing and managing the stakeholders, as well as help leading a successful cooperation. Originality/value: This study is meaningful in that it serves as a practical overview in considering the interests and challenges in form of a stakeholder analysis of a UIC setting. It may serve as a guide for stakeholders interested in formalizing UICs to understand the weight, importance and motivation of their immediate collaborators, when preparing a formal UIC partnership.
    Keywords: Stakeholder Analysis, University-Industry Cooperation, Innovation Strategy
    JEL: O00 O30 O33
    Date: 2021–10

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