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on Small Business Management |
| By: | Chaikal Nuryakin; Izyan Pijar Bungabangsa Satyagraha; Ratu Silfa Addiba Nursahla (Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)) |
| Abstract: | Micro, small, and medium enterprises (MSMEs) hold significant economic potential, for a potential contribution of over 55% to GDP, and employ more than 90% of the workforce (WTO, 2016). Recognizing their role in economic growth, poverty reduction, export, and job creation, the Indonesian government has prioritized MSMEs in its National Development Plan. However, a disproportionate number of MSMEs remain micro and small, hindering broader economic benefits. Innovation is proposed as a critical driver for the growth and scaling up of Micro and Small Enterprises (MSEs). This paper explores the relationship between innovation and business growth, identifies significant challenges and drivers of innovation, and draws on international best practices. We delve into several vital obstacles, such as financial constraints, inadequate copyright protection, and limited access to skilled talent that impede MSEs’ innovation and R&D capabilities. Also, we reviewed some strategies to overcome these challenges, including fostering research collaborations, implementing innovation programs, supportive government policies, and providing intellectual property rights (IPR) to MSEs. |
| Keywords: | MSMEs — innovation — scale-up |
| JEL: | F35 H81 O19 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:lpe:wpaper:202479 |
| By: | Christoph Grimpe; Fuad Hasanov; Wolfgang Sofka; Geoffrey Borchardt; Philip Schulz |
| Abstract: | A well-functioning market for technology, or ideas, is an important determinant for the type, scope, and distribution of innovation activities. We use a panel of 20 industries across 24 European countries to study the key determinants driving the market for technology. We explore whether the expenditures on external knowledge depends on the sectoral pattern of innovation and an industry’s distance to the global technological frontier. Disseminating knowledge and technology within the industry, bringing it closer to the global technological frontier, tends to reduce the expenditures for external knowledge except in supplier-dominated industries. We also find important complementarity effects in the market for external knowledge. Industries with high R&D spending, with increasingly large firms, and with large investments in machinery and software foster growth of the market for technology. Our findings suggest tailoring innovation policies to help expand both the size of the market for technology and the use of these markets in specific industries. |
| Keywords: | Markets for technology; patterns of innovation; industry studies; R&D; external knowledge; industrial policy |
| Date: | 2025–01–17 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/020 |
| By: | Matthew R. Denes; Spyridon Lagaras; Margarita Tsoutsoura |
| Abstract: | Platform intermediation of goods and services has considerably transformed the U.S. economy. We use administrative data on U.S. tax returns to study the role of the gig economy on entrepreneurship. We find that gig workers are more likely to become entrepreneurs, particularly those who are lower income, younger, and benefit from flexibility. We track all newly created firms and show that gig workers start firms in similar industries as their gig experience, which are less likely to survive and demonstrate higher performance. Overall, our findings suggest on-the-job learning promotes entrepreneurial entry and shifts the types of firms started by entrepreneurs. |
| JEL: | G30 J21 J22 J24 L26 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33347 |
| By: | Noraindah Abdullah Fahim (Faculty of Management, Universiti Teknologi Malaysia, Malaysia Author-2-Name: Logaiswari Indiran Author-2-Workplace-Name: Faculty of Management, Universiti Teknologi Malaysia, Malaysia Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - This study aims to examine the role of Market Learning Orientation (MLO) and Entrepreneurial Orientation (EO) in enhancing Innovation Capability (IC) to sustain the performance of Micro, Small, and Medium Enterprises (MSMEs) in Malaysia, specifically in the Fruits and Vegetables (FFV) contract farming sector. Methodology/Technique - Using a quantitative approach, primary data were collected from 228 FFV MSMEs through structured questionnaires. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the relationships between MLO, EO, IC, and firm performance. Findings and Novelty - The results reveal that both MLO (β = 0.156, p |
| Keywords: | Market Learning Orientation, Entrepreneurial Orientation, Innovation Capability, MSME Performance, Fruits and Vegetables Contract Farming, Malaysia, Business Sustainability. |
| JEL: | G21 L26 O16 |
| Date: | 2024–12–31 |
| URL: | https://d.repec.org/n?u=RePEc:gtr:gatrjs:jmmr343 |
| By: | FUKUGAWA Nobuya; CHANG Kuo-I |
| Abstract: | The establishment and expansion of science parks have been pivotal to Taiwan's economic development. This study integrates administrative, financial, and patent data to evaluate the causal impact of Taiwan’s three major science parks—Hsinchu, Central, and Southern—on tenant firms across three types of additionality: input, behavioral, and output. Specifically, it investigates whether relocating to science parks significantly enhances R&D investment, PhD employment, total factor productivity, and patent quality. To address challenges like staggered firm entry and selection bias, the study employs augmented inverse probability weighting combined with a difference-in-differences model for panel data with staggered treatments, ensuring robust causal inference. The findings reveal significantly positive effects across all three types of additionality, extending beyond the Hsinchu Science-based Industrial Park. By integrating multiple value-adding channels and expanding the analysis to all three major science parks, this research provides a comprehensive evaluation and extends the scope of previous studies. Additionally, it highlights heterogeneity in effects by firm size and industry, underscoring the need for tailored policies to maximize the benefits of science parks. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:eti:dpaper:25005 |
| By: | Zakaria Elouaourti; Aomar Ibourk |
| Abstract: | This paper was originally published on sciencedirect.com Our study aims to investigate the role of financial inclusion as a mediator in the relationship between contextual factors and entrepreneurial willingness in Africa. While previous research has emphasized the importance of improving institutional and contextual factors to foster entrepreneurship, our study adds a new dimension by highlighting the critical need for tailored financial services that can cater to the unique needs of African entrepreneurs. In light of this, we have employed a robust and comprehensive methodology, leveraging micro-level data that covers 44, 129 African adults and using Instrumental Variable Probit estimation. This approach allows us to offer valuable insights into the factors driving entrepreneurship in Africa. Our results suggest financial inclusion as a crucial determinant in the relationship between contextual factors and entrepreneurship in Africa, with the usage dimension being more important than the access dimension. Our findings reveal that the impact of contextual factors on entrepreneurship in Africa is strongly influenced by financial inclusion. By acting as a mediator, financial inclusion plays a pivotal role in shaping entrepreneurial willingness. Moreover, policymakers in Africa should focus on improving the business environment, addressing key contextual determinants of entrepreneurship where most African countries face a significant deficit compared to the world's top-ranking economies. These determinants include institutional quality, infrastructure, Information and Communication Technology (ICT) adoption, health, skills, product market, labor market, and innovation capability. Our study advances the field of research in two key ways. First, it provides empirically grounded evidence on both individual and contextual factors that can stimulate entrepreneurship in Africa. Given the representativeness of our sample, the policy implications of our study are valuable, offering useful insights for international institutions and policymakers working to promote entrepreneurship in Africa. Second, in contrast to previous studies on financial inclusion that use macroeconomic data to quantify the multidimensionality of financial inclusion, our study is unique in that it constructs a financial inclusion index based on microeconomic data to quantify the financial inclusion level of each individual in our sample. |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_78 |
| By: | Kaul, Rupali; Anderson, Stephen J.; Chintagunta, Pradeep K.; Vilcassim, Naufel |
| Abstract: | Academics and practitioners acknowledge the value of customer feedback in improving firm performance. Companies routinely solicit feedback from different customer subsets. However, the extent to which this feedback impacts nonsolicited customers depends on whether firms implement meaningful business-level changes that resonate with customers. This paper assesses customer feedback’s impact on firm learning and business improvements as well as its spillover effects on nonsolicited customers using a randomized, controlled field experiment conducted in Rwanda over two years. We hypothesize that private feedback seeking could operate through two broad mechanisms: (a) directly influencing solicited customers and/or (b) prompting firms to improve their offerings, leading to spillover effects on other customers. Our results demonstrate a 38.2% increase in recall and a 77.4% increase in purchases for customers not engaged in the feedback process. The analysis further suggests that business-level changes driven by customer feedback fuel these spillovers. Additionally, customer feedback seeking significantly improves treatment firm performance, resulting in a 62.0% revenue increase and 54.5% profit increase compared with control firms. Our study also introduces a basic customer feedback-seeking technology for small businesses to improve performance. These findings can guide firms in leveraging customer feedback to undertake business changes and generate greater revenues/profits. |
| Keywords: | customer feedback; emerging markets; entrepreneurship; feedback spillover; firm learning; small firm growth |
| JEL: | L81 J50 |
| Date: | 2024–09–20 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:125615 |
| By: | Ruiz, Walter; Spinola, Danilo; Villalba, Maria Luisa |
| Abstract: | This paper develops an Agent-Based Model (ABM) to study the impact of Science, Technology, and Innovation (STI) policies on innovation systems. The model, which we call the Adaptive Innovation System Model (AdaptISM), simulates the technological innovation capabilities required for knowledge and technology generation, diffusion, and utilisation, integrating decision rules that capture the emergent behaviours of agents interacting with innovation opportunities. The model is empirically validated using data from the coffee and avocado agricultural production chains (APCs) in Antioquia, Colombia, which are two sectors of regional economic and local importance. The validation process allows the evaluation of individual and combined STI policy modes, identifying which policy strategies most effectively enhance innovation performance and economic outcomes. By enabling the exploration of “what-if” scenarios, the ABM provides a tool to assess STI policy contributions systematically and offers practical insights into resource allocation in local innovation systems. This approach addresses a critical challenge in innovation policy design: understanding how STI policies influence system performance. The findings highlight the utility of combining policy approaches to improve innovation and economic growth, offering a replicable framework for policymakers and researchers seeking to optimise the performance of innovation systems. |
| Keywords: | STI policy; innovation systems; agricultural production chains; Agent-based modelling |
| Date: | 2025–01–20 |
| URL: | https://d.repec.org/n?u=RePEc:akf:cafewp:32 |
| By: | Quoc Tran-Nam (International University HCMC [Vietnam] - International University); Phu Nguyen-Van (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, IUH - Industrial University of Ho Chi Minh city); Tuyen Tiet (International University HCMC [Vietnam] - International University, BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Although numerous studies examine the impacts of environmental compliance and innovation on a firm's economic performance, the role of export activities in this nexus has remained unanswered. In this study, we revisit the Porter hypothesis by investigating synergy strategies of dierent environmental and economic practices (i.e., environmental compliance, product innovation, process innovation and having export activities) on total factor productivity (TFP) of Vietnamese manufacturing SMEs. Our results suggest that while encouraging either product or process innovation is also essential in the environment-promoting policy, joint implementation of these two practices should be carefully considered by managers. Moreover, entering export markets positively impacts rms' productivity; complying with the domestic/local environmental standards could signicantly increase the chances for SMEs to enter the export markets |
| Keywords: | Environmental compliance, Export, Product innovation, Process innovation, Productivity, SMEs |
| Date: | 2024–02–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04441426 |
| By: | Eric BOND; HOANG Trang; MA Yan; MAKIOKA Ryo |
| Abstract: | The paper studies the effect of R&D investments by parent multinational corporations (MNC) and their affiliates on the decisions of those affiliates to purchase intermediate inputs across different locations. We first develop a theoretical model of R&D and sourcing decisions to provide potential mechanisms and to guide our empirical analysis. Our fixed-effects regression results imply that, first, higher affiliate R&D expenditures are associated with a higher share of the affiliate’s purchases from local firms. Second, higher R&D expenditures by affiliates in other countries (i.e., those under the same parent firm but located in a different foreign country) are associated with a higher share of affiliate purchases from those countries. Third, we find that the affiliate’s R&D expenditures are negatively correlated with the purchase share from the parent home country and from the parent firm. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:eti:dpaper:25007 |
| By: | Rosa Sanchis-Guarner (Universitat de Barcelona & IEB); Nikodem Szumilo (University College London); Antoine Vernet (University College London) |
| Abstract: | We study the impact of improved rail access on entrepreneurship rates in England and Wales. We use data from the Census spanning 2001, 2011, and 2021 to analyse self-employment rates in granular geographic areas of around 200 residents. Specifically, we study how they respond to changes in the distance to the nearest train station occurring due to 56 new station openings. We find that all else equal, moving 1 km further away from a station reduces self-employment rates by 0.12 percentage points, with the effect dissipating beyond 7 km. Secondary results suggest that access to rail makes it easier to become self-employed while not making it more attractive compared to employment. Our findings suggest that rail infrastructure improvements can support local entrepreneurship and economic activity, contributing to regional development and reducing economic inequality. |
| Keywords: | Entrepreneurship, Rail, Self-employment |
| JEL: | L26 R11 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ieb:wpaper:doc2024-11 |
| By: | Radhicka Kapoor (Indian Council for Research on International Economic Relations (ICRIER)) |
| Abstract: | Women entrepreneurship is a key driver of economic inclusion and growth. There are several government programmes available to enable entrepreneurship in India, some are dedicated programmes for women-led enterprises. However, several challenges remain with respect to access to finances, markets, technology and skills. In this policy brief, we recognise that there is significant scope to leverage the digital advancements made by India to address the challenges faced by women entrepreneurs in accessing finance, skills, networks and markets, thereby unshackling the potential of women entrepreneurship. While male entrepreneurs too, stand to gain from these advances, for women entrepreneurs they can prove to be particularly beneficial as they help alleviate several barriers which emanate from restrictive norms that are deep-rooted in society. |
| Keywords: | women entrepreneurship, digital technology, finance, market access, icrier |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:ppaper:27 |
| By: | Loren Brandt; Johannes Van Biesebroeck; Luhang Wang; Yifan Zhang |
| Abstract: | China’s manufacturing sector has been a key source of the economy’s dynamism. Analysis after 2007 however is hampered by problems in the key data source for empirical analysis, the National Bureau of Statistics’ (NBS) annual survey of industrial firms. Issues include missing information on value added and intermediate inputs, and concerns of over-reporting. The annual survey of firms conducted by China’s State Taxation Administration (STA) provides a reliable, alternative source of firm-level data for years from 2007 to 2013. Since the sample is not representative and the precise sampling scheme is not known, the data cannot be used directly to draw inferences on China’s manufacturing sector. By comparing the joint distribution of key variables for which both surveys provide reasonably reliable information, we recover the sampling scheme of the STA survey and use it to simulate samples for 2007 to 2013 that are comparable to the NBS sample in earlier years. Our estimates reveal a marked slowdown in revenue-based total factor productivity growth that cuts across all industries, ownership types, and regions. The loss of dynamism in the private sector, and the reduced contribution of firm entry to aggregate productivity growth are especially prominent. |
| Date: | 2023–09 |
| URL: | https://d.repec.org/n?u=RePEc:ete:ceswps:746855 |
| By: | Payal Malik (Indian Council for Research on International Economic Relations (ICRIER)); Nikita Jain; Shiva Kanwar; Bhargavee Das; Saloni Dhadwal |
| Abstract: | Artificial Intelligence (AI) technologies are becoming integral to businesses and public markets alike, enabling innovation and efficiency and creating avenues for economic growth. The emphasis in public discourse has been on the technological advances enabled by AI and the risks and benefits associated with them. It is equally important that discussions on market implications of firm behavior active in AI are also understood. This report explores the evolving market dynamics in India and the critical challenges faced by policymakers and regulators in creating a competitive and innovative AI ecosystem. The report also examines the AI technology stack, highlighting its distinct layers and their implications for industrial organization and market competition. Key themes include the role of major cloud providers in shaping the AI ecosystem, the complexities of open-source models, the expanding network of partnerships between global technology companies, AI startups, and domestic IT incumbents, and the creation of new dependencies. Drawing on global best practices, the report emphasizes the need for a nuanced mix of competition and industrial policies, including a Digital Public Infrastructure paradigm, to foster a competitive, inclusive, and innovative AI ecosystem in India. It also highlights India's push for technological sovereignty through initiatives like the IndiaAI Mission and investments in indigenous AI models and supercomputing capabilities. The recommendations proposed in the report include promoting interoperability, enhancing access to computing resources, strengthening data-governance frameworks while facilitating access to high-quality open datasets, and leveraging public-private partnerships to support emerging AI startups. |
| Keywords: | Artificial Intelligence, Competition Policy, Generative AI, Digital Public Infrastructure, Data Governance, AI Regulation, Prosus, icrier |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:report:25-r-01 |
| By: | Kirui, Oliver K.; Siddig, Khalid; Fisher, Monica; Cavicchioli, Martina; Chamberlin, Jordan |
| Abstract: | The current conflict between the Sudanese Armed Forces and the Rapid Support Forces in Sudan, which began in April 2023, has had a profound impact on the nation’s micro, small, and medium enterprises (MSME). Such enterprises are a vital part of the country’s economy and important to the food security of many Sudanese households. All MSMEs, including those in the agrifood sector, have faced severe disruptions due to the instability, rising inflation, and supply chain breakdowns brought on by the conflict. These challenges have destabilized MSMEs, affecting their financial viability, operations, and capacity to support local food security and provide employment. Agrifood MSMEs, in particular, serve as critical intermediaries between large firms and smallholders, supporting local economies and national food systems.2 The conflict has disrupted every aspect of agrifood value chains in Sudan, from input supplies and production to market accessibility. Agrifood entrepreneurs—especially women—have borne some of the heaviest impacts. Female entrepreneurs already face significant gender-based barriers in operating successful businesses, such as more limited access to finance, restrictive social norms, and mobility constraints. In this period of conflict, they now confront even greater challenges. |
| Keywords: | enterprises; conflicts; food security; food supply chains; economics; gender; Africa; Northern Africa; Sudan |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:sssppn:9 |
| By: | John Sebastian Tobar-Cruz; Carlos Alberto Ruiz-Martínez |
| Abstract: | Este trabajo explora la relación entre el acceso al crédito y la formalización y el crecimiento de los micronegocios en Colombia. Se utilizan datos de la Encuesta a Micronegocios (EMICRON) del DANE para el periodo 2019-2022, junto con la metodología de Propensity Score Matching y modelos de elección binaria para examinar esta interacción. Los resultados destacan que el acceso al crédito se relaciona de manera positiva y significativa con el crecimiento y la formalización de los micronegocios en las cuatro dimensiones estudiadas: entrada, insumos, producción y tributaria. El análisis incluye una distinción entre créditos otorgados por entidades formales e informales, revelando que los micronegocios con acceso a crédito formal presentan una mayor propensión a la formalización y un crecimiento más pronunciado en comparación con aquellos que acceden a crédito a través de entidades informales. Además, al examinar según el sexo del propietario/a, los micronegocios liderados por mujeres con acceso a crédito formal logran mejores resultados en formalización y crecimiento que los liderados por hombres. Por último, el análisis a nivel departamental revela notables variaciones en los resultados, destacando las disparidades económicas y sociales entre las diversas áreas del país. **** ABSTRACT: This paper explores the relationship between access to finance and the formalization and growth of microbusinesses in Colombia. The study utilizes data from the DANE Microbusiness Survey (EMICRON) for the 2019-2022 period, applying the Propensity Score Matching method alongside binary choice models to analyze this relationship. The findings underscore that access to credit is positively and significantly related to the growth and formalization of these businesses across the four dimensions studied: entry, inputs, production, and taxation. The analysis includes a distinction between financing provided by formal and informal entities, revealing that microbusinesses with access to formal credit exhibit a higher propensity for formalization and achieve more pronounced growth compared to those reliant on informal credit sources. Furthermore, when analyzing by the owner's gender, microbusinesses led by women with access to formal credit demonstrate superior outcomes in formalization and growth compared to those led by men. Finally, the regional-level analyses reveal significant variations in the results, underscoring the economic and social disparities across Colombia's diverse regions. |
| Keywords: | Acceso a crédito, micronegocios, formalización y crecimiento empresarial, crédito formal/informal, género, análisis departamental, Credit access, microbusiness, formalization and business growth, formal and informal credit, gender, regional level |
| JEL: | G21 J16 O16 O17 R11 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:bdr:borrec:1302 |
| By: | Pérez Reyna, David (Universidad de los Andes); Rozada-Najar, Angie (Banco de la República); Suaza, Fausto (Universidad de los Andes) |
| Abstract: | Using a unique dataset combining Colombian firm, bank, and credit registry data from 2006 to 2021, we investigate the relationship between bank productivity and the productivity of firms they lend to. We find a positive correlation that strengthened after 2017. We posit a theoretical model to rationalize this finding: more productive banks optimally choose to lend to more productive firms because they can better afford the fixed costs of accessing higher-quality firm profiles. |
| Keywords: | firm productivity; bank productivity; lending relationships; productivity measurement |
| JEL: | D24 E44 G21 |
| Date: | 2025–01–20 |
| URL: | https://d.repec.org/n?u=RePEc:col:000089:021298 |
| By: | Jean-Michel Benkert; Igor Letina |
| Abstract: | We provide a model of investment in innovation that is dynamic, features multiple heterogeneous research projects of which only one potentially leads to success, and in each period, the researcher chooses the set of projects to invest in. We show that if a search for innovation starts, it optimally does not end until the innovation is found -- which will be never with a strictly positive probability. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2412.03227 |
| By: | Huang, Jiayi (Cardiff Business School); Zhou, Peng (Cardiff Business School) |
| Abstract: | Open innovation serves as a critical pathway for aligning Sustainable Business Models (SBMs) with the dual imperatives of the sustainable economy and the digital economy. This editorial review synthesizes insights from theoretical frameworks, particularly the Resource-Based View (RBV) and Transaction Cost Theory (TCT), integrated with the Technology-Organization-Environment (TOE) framework to explore the mechanisms driving open innovation. Our editorial review highlights key dimensions influencing open innovation: technology (digital platforms, emerging technologies like AI, IoT, and blockchain), organization (stakeholder collaboration, governance mechanisms), and environment (regulatory frameworks, market dynamics, and industrial spillovers). This unified framework offers actionable insights for policymakers to foster enabling ecosystems and for business leaders to adopt open innovation strategies for resource optimization and governance improvement. The review concludes that the RBV-TCT-TOE framework provides a generalizable and robust tool for understanding and advancing open innovation across industries and regions, bridging theoretical and practical dimensions to address the challenges of sustainability and digital transformation. |
| Keywords: | Open Innovation; Entrepreneurship; Sustainable Business Model |
| JEL: | O36 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdf:wpaper:2025/2 |
| By: | Jiang Xu; Haoxiang Qu |
| Abstract: | Iconic products, as innovative carriers supporting the development of future industries, are key breakthrough points for driving the transformation of new quality productive forces. This article is grounded in the philosophy of technology and examines the evolution of human civilization to accurately identify the patterns of product innovation. By integrating theories from systems science, it analyzes the intrinsic logical differences between traditional products and iconic products. The study finds that iconic products are based on a comprehensive knowledge system that integrates explicit and tacit knowledge, enabling them to adapt to complex dynamic environments. Therefore, based on the method of phenomenological essence reduction and the process of specialized knowledge acquisition, this study establishes the first principle of knowledge phenomenology: "knowledge generation-moving from the tacit to the explicit-moving from the explicit to the tacit-fusion of the explicit and tacit." Grounded in knowledge phenomenology, it reconstructs the product design evolution process and establishes a forward innovative design framework for iconic products, consisting of "design problem space-explicit knowledge space-tacit knowledge space-innovative solution space." Furthermore, based on FBS design theory, it develops a disruptive technology innovation forecasting framework of "technology problem space-knowledge base prediction-application scenario prediction-coupled technology prediction, " which collectively advances the innovation systems engineering of iconic products. In light of the analysis of the global future industrial competitive landscape, it proposes a strategy for enhancing embodied intelligence in iconic products. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.07141 |
| By: | Bock, Carolin; Siebeneicher, Sven; Rockel, Jens |
| Abstract: | We explore the potentials of participative co-financing as a means for regional banks to integrate an innovative financing technique that enhances their strengths. Our goal is to interest platform operators, decision-makers of regional banks, and researchers in the potentials of participative co-financing. We define participative co-financing as capital provision, where professional financing sources provide one part, and the other is supplied via participative crowdfunding. We claim that crowdfunding and regional banks are compatible by common interests. We explore potentials emanating at the intersection of both fields by drawing on entrepreneurship and finance literature. Eventually, we bridge the gap between both fields of research. To guide our research, we develop a framework featuring the intersection of crowdfunding and regional banks. We ask: Which potentials affect the intentions of decision-makers in regional banks to offer participative co-financing? The technology acceptance model (TAM) provides a theoretical foundation for our analysis. We conduct a twofold analysis by looking at the direct effects of potentials first and acceptance according to the TAM second. Thereby we consider the intention to offer lending- and equity-based co-financing. We surveyed decision-makers from an association of German savings banks and derived 108 answers. We show that regional banks generally accept participative co-financing as an innovative financing technique. The most likely model is lending-based co-financing, with individual persons, startups, and SMEs as target groups. Decision-makers hope to profit from cross-selling and being perceived as innovative. Nevertheless, further research and trials are necessary to advance participative co-financing. |
| Date: | 2025–01–16 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:152425 |
| By: | Ginger Zhe Jin; Mario Leccese; Liad Wagman |
| Abstract: | This chapter examines the multifaceted interactions between top digital platforms and technology ventures across capital, labor, innovation, and product markets. Exploring how venture investments, talent flows, strategic alliances, and competitive behaviors can shape the innovation ecosystem, the chapter highlights both the complementary and competitive dynamics between large incumbents and smaller entrants, and the benefits and potential inefficiencies that may arise from them, as demonstrated by the empirical and theoretical literatures. Throughout, the chapter identifies key areas for research that can support a rigorous evaluation of policy proposals concerning evolving market structures in the digital economy. |
| JEL: | D4 L1 O3 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33370 |
| By: | Aomar Ibourk; Zakaria Elouaourti |
| Abstract: | The aims of this article were twofold. First, to tackle the issue of convergence from an analytical point of view by presenting the mathematical developments of the main economic growth models, which emphasized that the convergence of African economies is conditional to the investment level in the early stages of physical capital accumulation. As the latter increases, the convergence of African economies is determined by other factors (investment in research and development (R&D) and human capital, etc.). Second, to verify the empirical validity of these models by confronting them with data from 33 African economies stratified by development level over the period 2004–2019. Empirical results using both spatial and nonspatial panel estimation methodology and the ‘beta-convergence’ approach pointed to three ‘convergence clubs, ’ as well as a conditional convergence for all these clubs. However, the determinants of convergence among African economies differ by development level. In low-income economies, convergence is conditional to financial development and inflation level. For lower-middle-income economies, institutional quality and inflation level contribute to the convergence of this club. The convergence of uppermiddle- income economies is conditioned by public spending and human capital. In terms of policy implications, countries should develop measures that strengthen institutional reforms to improve the functioning of financial systems, democratic accountability, control of corruption, business climate, economic growth, strengthening the legal environment, and improving competition by reducing public expenditures. This paper is original insofar as it advances the field from the current state of knowledge in several ways. First, to stand out from the existing literature, we conducted a comparative analysis of the institutional quality levels across 33 African countries by developing an institutional quality index through the use of a principal component analysis (PCA) method. Second, we tested the empirical validity of the convergence hypothesis beneath economic growth theories and in the African context; moreover, it has verified the possible existence of ‘convergence clubs, ’ then, it brought to light the main determinants of the convergence of these clubs. |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_71 |
| By: | Christopher M. Hair; Sabrina T. Howell; Mark J. Johnson; Siena Matsumoto |
| Abstract: | Younger entrepreneurs are disadvantaged by traditional loan underwriting, which relies heavily on personal credit scores. With data from three fintech companies, we show that incorporating timely information about ability to repay from business checking account statements particularly improves default prediction performance for younger business owners. We develop a novel method to compare model predictions across subgroups—Tail Analysis for Comparative Outcomes (TACO)—which finds that switching from a Baseline (FICO-driven) model to a Cash Flow-enhanced model benefits younger entrepreneurs. We confirm this in causal analysis of approval decisions, showing that access to cash flow-intensive underwriting increases approval rates for younger vs. older entrepreneurs. |
| JEL: | G21 G23 G32 J14 J16 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33367 |
| By: | Bojan Grebić (University of Novi Sad); Danijela Ćirić Lalić (University of Novi Sad); Slavica Mitrović Veljković (University of Novi Sad); Nikola Zivlak (EM - EMLyon Business School); Milena Savković (University of Novi Sad) |
| Abstract: | This paper examines agile intrapreneurship, an emerging concept in both academic and industrial spheres, as a driving force for corporate transformation and a source of competitive advantage in dynamic business landscapes. Study probes the intricacies of agility, intrapreneurship, and corporate transformation to provide a detailed synthesis of existing research and to elucidate how agile intrapreneurship can be cultivated within organizations to reap a range of benefits, notably enhanced innovation, competitive edge, and overall performance. To this end, we have analyzed and classified the facilitators, obstacles, and potential impacts of agile intrapreneurship, evaluating their representation in scholarly discussions and articulating their influence on corporate change. Our results underscore the significant positive effect of agile intrapreneurship on the success of corporate transformation and on business performance at large, emphasizing the imperative of adapting to change to ensure enduring growth. Furthermore, this paper establishes a foundation for future research into the ramifications of agile intrapreneurship on corporate evolution. |
| Keywords: | Intrapreneurship, Agile intrapreneurship, Corporate transformation, Corporate entrepreneurship, Innovation |
| Date: | 2024–12–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04862388 |