|
on Small Business Management |
|
Issue of 2026–08–17
forty-one papers chosen by João Carlos Correia Leitão, Universidade da Beira Interior |
| By: | Camuffo, Arnaldo; Gambardella, Alfonso; Pignataro, Andrea |
| Abstract: | We develop a model for analyzing firm innovation strategies, distinguishing between the exploitation of established firm-level paradigms (which we call †theories†) and the exploration of new paradigms. Central to the model is the role of speed. The empirical analysis of a sample of all US public firms with at least one patent between 1980 and 2021, reveals that the speed at which firms exploit innovations within their existing paradigms is positively correlated with their exploration of new technological areas, an increase in patent output relative to R&D, and an increase in firm size over time. The model identifies three drivers of innovation success: search speed within existing theories, the probability of discovering new theories, and the scale of firm resources. High search speed increases early-stage productivity and resource accumulation, increasing the likelihood of discovering new theories and sustaining growth. Among other things, our model provides an explanation for the hyper-growth of many high-tech companies today. Policymakers should consider interventions that accelerate search-enhancing technologies and foster theory generation across industries, promoting equitable growth and reducing disparities in innovation capacity. |
| Keywords: | Innovation |
| JEL: | L21 L26 M13 M21 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19849 |
| By: | Abdellah Belbouli (USMS - Université Sultan Moulay Slimane); Fatima Touhami (USMS - Université Sultan Moulay Slimane); Mohamed Elmoukhtar (USMS - Université Sultan Moulay Slimane); Imane Mouhtat (USMS - Université Sultan Moulay Slimane); Abdelrhani El-Bir (USMS - Université Sultan Moulay Slimane); Hicham Ketatni (USMS - Université Sultan Moulay Slimane) |
| Abstract: | Territorial intelligence (TI) has emerged as a strategic framework for enhancing regional competitiveness and supporting entrepreneurial ecosystems through knowledge management, collaboration, and data-driven governance. In Morocco, where regional disparities remain significant, the integration of TI mechanisms into territorial development policies is still limited, making it crucial to examine how TI contributes to regional performance and economic resilience. This study investigates the role of TI as a multidimensional driver of competitiveness, value-chain integration, and regional attractiveness within the Béni Mellal-Khénifra region. Using a quantitative methodology based on a structured questionnaire administered to 212 small and medium-sized enterprises (SMEs), the research applies exploratory factor analysis and reliability testing to validate measurement scales related to competitiveness, resilience, and economic performance. Results indicate strong internal consistency across all constructs (α > 0.84) and confirm that TI significantly enhances regional performance by reinforcing inter-organizational coordination, technological adaptation, and digital accessibility. Findings also reveal that competitiveness acts as a mediating factor linking TI dimensions—strategic monitoring, digital capability, and resource sharing—to measurable economic outcomes such as productivity growth, employment creation, and firm profitability. The study concludes that TI provides an operational framework for strengthening territorial governance and fostering innovation within local entrepreneurial ecosystems. By aligning public policies, business networks, and technological infrastructures, TI can serve as a key strategic lever for sustainable regional development in Morocco. These results contribute to the empirical literature on territorial intelligence and offer practical insights for policymakers and regional development agencies aiming to bridge the gap between local knowledge systems and economic performance. |
| Keywords: | scale development, economic monitoring, information sharing, network governance, SME networks, SME networks network governance information sharing economic monitoring scale development |
| Date: | 2026–05–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05656648 |
| By: | OECD |
| Abstract: | The ability of innovative start-ups to scale is a key driver of productivity and economic growth. This paper examines the factors associated with successful scaling among start-ups founded between 2000 and 2025 in the European Union (EU) and the United States (US). It distinguishes between growth-oriented firms (raising at least USD 50 million) and rising superstars (valuations above USD 1 billion), comparing their characteristics across innovation, finance, market expansion, talent, and local ecosystems. Differences in scaling outcomes relate to the timing and commercialisation of innovation (rather than inventive capacity per se), the depth of late-stage financing, and the ability to mobilise managerial capabilities and acquisitions. Scaling events are also associated with distinct ecosystem spillovers, though these depend on ecosystem depth and type of scaling event. Overall, scaling is a cumulative, selective process in which firms progressively overcome interrelated constraints, underscoring the need for stage- and ecosystem-specific scale-up policies. |
| Keywords: | entrepreneurial ecosystems, innovation, scale-up gap, scale-ups, start-ups, unicorns, venture capital |
| JEL: | G24 G28 L25 L26 R11 |
| Date: | 2026–08–07 |
| URL: | https://d.repec.org/n?u=RePEc:oec:stiaaa:2026/08-en |
| By: | Kotamäki, Mauri |
| Abstract: | This study estimates the causal impact of financial constraints on Finnish SMEs using 68, 000 survey observations (2016–2024) linked to tax registry data. Applying propensity score matching with extensive balance checks and multiple-testing control, I examine six outcomes: turnover, employment, investment, profitability, solvency, and innovation. Financial constraints sharply increase the likelihood of adverse outcomes: solvency and profitability risks rise by up to 29%, and the probability of improvement falls by up to 4 percentage points. Registry-based analysis confirms considerably lower taxable income growth. Heterogeneity analysis reveals a dual mechanism: micro firms suffer liquidity shocks, while mid-sized firms cut jobs and investment. These findings underscore the need for differentiated credit policies, rapid-access liquidity support for micro firms and adapted investment financing for growth-oriented mid-sized SMEs, and offer actionable insights for SME managers, including the importance of precautionary cash buffers, proactive relationship banking, and early financing commitments. |
| Keywords: | credit constraints; financing; impact analysis; propensity score matching |
| JEL: | C21 D22 G32 L25 O16 |
| Date: | 2026–04–07 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128615 |
| By: | D’Alessandro, Francesco (Department of Sociology and Business Law, University of Bologna); Santarelli, Enrico (Department of Economics, University of Bologna); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | This study examines how regional technological relatedness and local AI knowledge influence regional innovative activity, as measured by patenting activity. Using a novel three-way longitudinal dataset and leveraging a deep learning-based identification of AI patents, we show that two broad mechanisms operate in parallel. First, in accordance with the extant literature, technologies that are cognitively close to a region’s existing patent portfolio enjoy higher patenting activity, confirming that relatedness remains a strong and persistent predictor of innovative output. Second, local AI endowments are positively associated with patenting across technological fields, even after conditioning on relatedness, indicating that AI plays an enabling and cross-cutting role in a given regional innovation system. Moreover, the interaction between relatedness and AI turns out to be negative and statistically significant, implying that AI attenuates the extent to which local innovative efforts depend on the technology’s proximity to the regional portfolio. In sum, AI appears to enhance overall local innovative activity while reducing its reliance on pre-existing regional knowledge structures. |
| Keywords: | Artificial Intelligence, AI, technological change, regional innovation, relatedness |
| JEL: | O31 R11 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18817 |
| By: | Jabri Nada (Université Hassan 1er [Settat]); Hanine Sanae (Université Hassan 1er [Settat]) |
| Abstract: | Abstract In a global context characterized by recurrent ecological and economic crises, the blue economy stands out as a strategic lever for developing new models of sustainable and resilient growth. Innovation lies at the heart of this transformation, mobilizing maritime ecosystems that integrate technological, social, territorial, and environmental challenges. This study provides a critical and theoretical international literature review of the innovations implemented within marine ecosystems and tested through the evolution of the blue economy via a qualitative, critical, and synthetic methodological approach (theoretical and thematic analysis). The objectives are threefold: (1) to provide a state of the art of existing knowledge on the link between "innovation and sustainability" within the blue economy as a resilient ecosystem; (2) to identify entrepreneurial resilience factors in coastal environments; and (3) to propose a conceptual model explaining the relationship between these key concepts. This review helps fill a theoretical gap concerning the interactions among ecosystems, innovation, and resilience, while opening new research and policy avenues to support the economic transitions of coastal zones. Keywords: Blue Economy; Sustainable Innovation; Resilience; Ecosystems; Sustainability |
| Keywords: | Blue Economy Sustainable Innovation Resilience Ecosystems Sustainability, Blue Economy, Sustainable Innovation, Resilience, Ecosystems, Sustainability, African Scientific Journal |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05626904 |
| By: | Tham, Wing Wah; Baslandze, Salomé; Sojli, Elvira; Liu, Leo |
| Abstract: | This paper studies the interaction between process and product innovations and their distinct role in firm growth dynamics. We differentiate empirically and theoretically two types of process innovations: foundational processes that advance production technology and cost-reducing processes that enhance existing production efficiency. We develop an innovation model of product varieties with quality heterogeneity to illustrate how these innovations impact firm growth differently and highlight how process innovation induces product innovation. By analyzing millions of patent texts from 1900 to 2020, we classify innovations into product, cost-reducing process, and foundational process innovations. We find that foundational processes lead to sustained firm growth, especially through their effect on subsequent product creation. R&D-intensive firms focused on ``deep-tech'' innovations have an advantage in creating foundational processes, resulting in superior product quality. Using patents linked to FDA-approved drugs, we show that firms with a comparative advantage in creating foundational processes, due to greater knowledge and technological stock, tend to produce higher-value products. |
| Keywords: | Innovation; Patents; Firm growth; Process innovation |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19858 |
| By: | Gatopoulos, Georgios; Louka, Alexandros; Peppas, Konstantinos; Vettas, Nikolaos |
| Abstract: | We analyze the negative externalities of “zombie†firms on investment, employment, and productivity in the context of the Greek crisis, during which the share of zombie firms and non-performing business loans peaked at 20% and 50% respectively. Using a panel dataset by firm size and sector during 2002-2021, we find a strong correlation between non-performing business loans and zombie firms. Empirical analysis reveals that zombie firms impact on the economy in several ways: (1) healthy firms outperform zombies in investment, employment, and productivity; (2) high zombie firm density hinders investment growth among healthy firms; (3) healthy firms must increase productivity to survive in zombie-dense sectors; and (4) zombie firms’ capital concentration limits resource reallocation to more productive uses. Younger and larger firms generally perform better across key metrics, also during crisis conditions. Resolving zombie firms and non-performing loans can enhance resource allocation, both within and across sectors of economic activity, boosting growth in the medium to long term. |
| JEL: | G20 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19868 |
| By: | de Sauvage Nolting, Rein; Voogd, Remko; Been, Wike; Lehr, Alex (Radboud University) |
| Abstract: | As trade unions face increasing difficulties in mobilizing workers, the responsibility for maintaining socio-economic coordination has increasingly shifted to employers’ organizations (EOs) and their engagement in collective bargaining. Yet, large firms have been argued to dominate EOs, to the detriment of small and medium-sized enterprises (SMEs). These intra-capital divisions remain poorly understood, largely due to a lack of direct, systematic evidence on SME representation. Using data on SMEs in the Netherlands (N=901) from the Sustainable SME Representation Survey (SSMERS), we provide a descriptive analysis of EO membership and perceptions of collective interest representation and subsequently address the question: To what extent can differences in EO-membership among SMEs in the Netherlands be explained by (a) the perceptions of representation, (b) organizational resources and constraints, and (c) competitive pressures? We find that the perception of EO representation by SMEs is mildly positive in absolute terms, but decidedly less positive when evaluated relative to large, multinational and export-oriented firms. The explanatory analyses suggest that among SMEs, size and resources have very limited explanatory power regarding EO-membership, nor do experienced competition, the difficulty to find and retain employees, and sensitivity to production stoppages. We do, however, find fairly clear evidence that the probability of EO-membership increases the older the company is, and that the evaluation of interest representation by EOs also matters, as EO-membership is less likely when representation is more poorly evaluated. |
| Date: | 2026–07–21 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:c75jq_v1 |
| By: | Vasco Carvalho; Lukas Freund; Lukas B. Freund |
| Abstract: | We develop a theory of growth in which firms forage in idea space. A firm exploits a patch of related ideas, gradually exhausting opportunities for quality improvement, and then searches for a new patch. We cast this explore-exploit tradeoff as a tractable optimal-stopping problem and embed it in an endogenous-growth model. The composition of innovation — improving existing ideas versus discovering new ground — emerges as an equilibrium object. To construct an empirical representation of the idea space, we apply natural language processing to patent text data. The data support the theory’s central premises: returns to local exploitation diminish; firms stay longer on richer patches; and entry into new patches yields more and better patents. We calibrate the model to U.S. data and establish two results, on the composition of growth and on its pace. First, at a twenty-year horizon, patenting in new clusters accounts for over half of growth from quality improvements: sustained growth rests on firms continually entering new territory. Second, the model sign-identifies the origins of the productivity slowdown of the last four decades: exploitation spells have not shortened, weighing against worsening exploitation and tentatively pointing to harder exploration. |
| Keywords: | innovation, growth, firm dynamics, foraging, exploration and exploitation, patents, natural language processing, artificial intelligence |
| JEL: | O31 O41 O33 O40 O47 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12841 |
| By: | Degryse, Hans; De Jonghe, Olivier; Gambacorta, Leonardo; Huylebroek, Cédric |
| Abstract: | Theory offers conflicting predictions on whether and how lenders’ sectoral specialization would affect firms’ innovation activities. We show that the sign and magnitude of this effect vary with the degree of “asset overhang†across sectors, which is the risk that a new technology has negative spillovers on the value of a bank’s legacy loan portfolio. Using both patent data and micro-level innovation survey data, we find that lenders’ sectoral specialization improves innovation for firms operating in sectors with low asset overhang, but impedes innovation for firms operating in sectors with high asset overhang. These results hold for two distinct measures of asset overhang and using bank mergers as a source of exogenous variation in bank specialization. We further show that these heterogeneous effects arise through financial contracting. Overall, our findings provide novel insights into the dual facets of bank specialization and, more broadly, the link between banking and innovation. |
| Keywords: | Bank specialization; Bank lending; Corporate innovation; Financial frictions |
| JEL: | G20 O30 L20 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19606 |
| By: | Carvalho, V. M.; Freund, L. B. |
| Abstract: | We develop a theory of growth in which firms forage in idea space. A firm exploits a patch of related ideas, gradually exhausting opportunities for quality improvement, and then searches for a new patch. We cast this explore-exploit tradeoff as a tractable optimal-stopping problem and embed it in an endogenous-growth model. The composition of innovation—improving existing ideas versus discovering new ground—emerges as an equilibrium object. To construct an empirical representation of the idea space, we apply natural language processing to patent text data. The data support the theory’s central premises: returns to local exploitation diminish; firms stay longer on richer patches; and entry into new patches yields more and better patents. We calibrate the model to U.S. data and establish two results, on the composition of growth and on its pace. First, at a twenty-year horizon, patenting in new clusters accounts for over half of growth from quality improvements: sustained growth rests on firms continually entering new territory. Second, the model sign-identifies the origins of the productivity slowdown of the last four decades: exploitation spells have not shortened, weighing against worsening exploitation and tentatively pointing to harder exploration. |
| Keywords: | Innovation, Growth, Firm Dynamics, Foraging, Exploration and Exploitation, Patents, Natural Language Processing, Artificial Intelligence |
| JEL: | O31 O41 O33 O40 O47 |
| Date: | 2026–06–15 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2659 |
| By: | Bergeaud, Antonin; Deter, Max; Greve, Maria; Wyrwich, Michael |
| Abstract: | We investigate the causal relationship between inventor migration and regional innovation in the context of the large-scale migration shock from East to West Germany between World War II and the construction of the Berlin Wall in 1961. Leveraging a newly constructed, century-spanning dataset on German patents and inventors, along with an innovative identification strategy based on surname proximity, we trace the trajectories of East German inventors and quantify their impact on innovation in West Germany. Our findings demonstrate a significant and persistent boost to patenting activities in regions with higher inflows of East German inventors, predominantly driven by advancements in chemistry and physics. We further validate the robustness of our identification strategy against alternative plausible mechanisms. We show in particular that the effect is stronger than the one caused by the migration of other high skilled workers and scientists. |
| Keywords: | Patents; Migration; Germany; Innovation |
| JEL: | H10 N44 P20 D31 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19837 |
| By: | De Haas, Ralph; González-Uribe, Juanita |
| Abstract: | We review the literature on the effectiveness of public policies to facilitate firms’ access to finance. The rationale for such policies is to address market failures that cause financial constraints. Using a simple taxonomy, we discuss the current evidence base on common interventions to tackle these constraints: public lending through state and development banks; public lending through private banks; subsidized credit; credit guarantee schemes; export credit agencies; publicly backed venture capital; and tax incentives for equity investors. Based on the quantity and quality of the available evidence, we summarize the policies that have proven most effective in helping firms access external financing. Additionally, we highlight areas where future research is needed to address current knowledge gaps and to provide more definitive policy guidance. |
| Keywords: | entrepreneurship; Small business finance; Public policy; Financial constraints |
| JEL: | D04 G20 G28 H25 H81 L26 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19601 |
| By: | Josh Feng; Xavier Jaravel |
| Abstract: | What are the implications of unequal access to entrepreneurial careers for labor markets? Using data from the U.S. Census and LinkedIn profiles, we document that entrepreneurs are significantly more likely to hire workers from similar social backgrounds (gender, race, age, education, etc.). These effects are quantitatively large across several demographic dimensions. For example, female employee share at female-founded startups is 36.4pp higher after controlling for industry-by-metro area-by-cohort fixed effects, with corresponding estimates of 51.2pp for Blacks, 37.3pp for Hispanics, and 11.3pp for non-college individuals. Large effects are present in high-growth startups, across industries and occupations, and remain stable across new firm cohorts. In addition, we find that these differences persist out to at least 20 years. We use wage data and an AKM research design to untangle whether the relative differences are driven by labor demand or labor supply effects. We find that demand drives the differences: group-specific wage decompositions show that new firms pay higher relative wages to individuals from similar backgrounds to the entrepreneur. Using these estimates, we calibrate a model of entrepreneurship with heterogeneous ability and production functions, and assess the impacts on relative wage from reducing access barriers to entrepreneurship. |
| Keywords: | entrepreneurship, hiring, labor market, production functions |
| JEL: | L26 J31 D24 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:cen:wpaper:26-45 |
| By: | Benkert, Jean-Michel; Letina, Igor |
| 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. |
| Keywords: | Innovation |
| JEL: | D83 O31 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19732 |
| By: | Zhang, Min; Rodríguez-Pose, Andrés |
| Abstract: | Innovation is key for economic growth and well-being. The capacity for innovation, however, is profoundly influenced by the quality of local institutions. Although the impact of national institutions on innovation is well-documented, the effects of subnational institutional variations on innovation remain underexplored. This paper studies the impact of government agency reforms, designed to enhance local government effectiveness, on the innovation performance of city-regions in China. We examine the adoption of these reforms between 2009 and 2016 as an exogenous shock to regional institutions. Our analysis identifies a positive and significant relationship between improvements in institutional quality and the innovation performance of Chinese city-regions, particularly pronounced in regions with medium to high levels of innovation. The results are robust to a series of checks including placebo and endogeneity tests and potential confounding policies. This research highlights the critical role of government institutions in driving innovation across China, bringing to the fore important regional variations in the adoption of government agency reforms that are defining the country’s innovation landscape. |
| Keywords: | Institutions; China |
| JEL: | R11 O11 O43 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19583 |
| By: | Mohamed Amine Errochdi (Laboratoire de Recherche en Économie et Management des Organisations Ecole National de Commerce et de Gestion Béni Mellal, Université Sultane Moulay Slimane Béni Mellal); Zainab Saf (Laboratoire de Recherche en Économie et Management des Organisations Ecole National de Commerce et de Gestion Béni MellalUniversitéSultane Moulay Slimane Béni Mellal); Abdellatif Maniali (Laboratoire de Recherche en Économie et Management des Organisations Ecole National de Commerce et de Gestion Béni MellalUniversitéSultane Moulay Slimane Béni Mellal) |
| Abstract: | This article explores the dynamics of advanced tax digitalization adoption, including artificial intelligence–enabled systems, by Small and Medium-sized Enterprises (SMEs) in the context of an emerging economy. It examines how institutional pressures, organizational capabilities, and digital trust shape and moderate the process through which these firms appropriate such technologies.Methodologically, the research follows an interpretivist qualitative approach based on 24 semi-structured interviews conducted in Morocco, including 18 SME owners/managers and 6 tax and digitalization experts. The dataset is analysed using the Gioia data structure, which enables the systematic emergence of first-order concepts, second-order themes, and aggregate dimensions, thereby providing a nuanced understanding of the underlying adoption logics.The findings show that the adoption of AI-driven tax solutions by SMEs unfolds as a coercive and reactive process, primarily driven by regulatory mandates rather than strategic innovation intent. The perception of AI in taxation is strongly marked by fear of algorithmic opacity, frequently described as a "black box, " which undermines perceived transparency and fairness. This perception is exacerbated by a structural deficit of internal resources and skills (liabilityof smallness) and by a pervasive distrust of the tax administration's motives, particularly in terms of control and sanctioning power. As a result, SMEs tend to deploy façade compliance strategies, such as symbolic decoupling and extensive outsourcing of fiscal tasks, which limit genuine learning and prevent any deeper strategic transformation.As an original contribution, the article proposes a theoretical extension of the Technology–Organization–Environment (TOE) framework tailored to coercive institutional settings by introducing Digital Institutional Trust as a mediating variable between environmental pressures and actual appropriation of digital tax tools. It also highlights the urgent need to establish forms of "digital procedural justice" capable of enhancing transparency, explainability, and perceived fairness in AI-driven tax systems, thereby fostering more substantive and sustainable adoption among SMEs in emerging economies. |
| Abstract: | Cet article examine en profondeur la dynamique d'adoption de la digitalisation fiscale avancée, incluant les applications de l'intelligence artificielle, par les Petites et Moyennes Entreprises (PME) dans le contexte spécifique d'une économie émergente. Il s'intéresse à la manière dont les pressions institutionnelles, les capacités organisationnelles internes et la confiance numérique interviennent, de manière modératrice, dans le processus d'appropriation de ces innovations technologiques. Sur le plan méthodologique, l'étude adopte une approche qualitative interprétativiste, s'appuyant sur 24 entretiens semi-directifs conduits au Maroc, dont 18 auprès de dirigeants de PME et 6 auprès d'experts fiscaux. L'analyse des données repose sur la méthode de structuration de données de Gioia, permettant de dégager une compréhension fine des logiques sous-jacentes au comportement d'adoption. Les résultats révèlent que l'intégration des solutions d'IA fiscale par les PME relève d'un processus coercitif et réactif, davantage dicté par les exigences réglementaires que par une volonté stratégique d'innovation. La perception de l'intelligence artificielle fiscale est dominée par la crainte de l'opacité algorithmique, souvent décrite comme une « boîte noire » incompréhensible. Ce phénomène est amplifié par un déficit de ressources et de compétences techniques internes (liability of smallness) et par une méfiance institutionnelle à l'égard des intentions de l'administration fiscale. Face à ces contraintes, de nombreuses PME développent des stratégies de conformité de façade — telles que le découplage symbolique ou l'externalisation des processus fiscaux — qui freinent toute transformation numérique en profondeur. En contribution originale, l'article propose une extension du modèle TOE (Technology-Organization-Environment) adaptée aux contextes coercitifs, en introduisant la variable médiatrice du Digital Institutional Trust, et met en évidence l'urgence d'instaurer une véritable justice procédurale numérique pour restaurer la confiance et favoriser une adoption durable. |
| Keywords: | institutional theory, Morocco. Classification JEL: H20, e-government, digital institutional trust, SMEs, artificial intelligence, e-gouvernement. JEL Classification : H20 Type du papier : Recherche Théorique et empirique tax digitalization, théorie institutionnelle, confiance numérique institutionnelle, PME, intelligence artificielle, Digitalisation fiscale, Digitalisation fiscale intelligence artificielle PME confiance numérique institutionnelle théorie institutionnelle e-gouvernement. JEL Classification : H20 Type du papier : Recherche Théorique et empirique tax digitalization artificial intelligence SMEs digital institutional trust institutional theory e-government Morocco. Classification JEL: H20 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05624548 |
| By: | Barwick, Panle; Kwon, Hyuk-soo; Li, Shanjun; Wang, Yucheng; Zahur, Nahim Bin |
| Abstract: | This paper examines the impact of industrial policies (IPs) on innovation in the global automobile industry. We compile the first comprehensive dataset linking global IPs with patent data related to the auto industry from 2008 to 2023. We document a major shift in policy focus: by 2022, nearly half of all IPs targeted electric vehicles (EV)-related sectors, up from almost none in 2008. In the meantime, there has been a clear technological transition from internal combustion engine (GV) technologies to EV innovations. Our analysis finds a positive relationship between policy support and innovation activity. At the country level, a one-standard-deviation increase in five-year cumulative EV-targeted IPs is associated with a four-percent rise in new EV patent applications. Firm-level analyses (using OLS, IV, and PPML) indicate that a ten-percent increase in EV financial incentives received by automakers and EV battery producers leads to a similar four-percent increase in EV innovations. We confirm the importance of path dependence in the direction of technology change in the automobile industry but find no evidence that EV-targeted IPs stimulate innovation in GV technologies. |
| Keywords: | Innovation; Patent |
| JEL: | L52 L62 O31 Q48 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19660 |
| By: | Yu Chang (NPU - Northernwest Polytechnical University [Xi'an]); Linwei Li (NPU - Northernwest Polytechnical University [Xi'an]); Ruiqi Wei (EM - EMLyon Business School) |
| Abstract: | Emerging multinational enterprises (EMNEs) characterized by strong entrepreneurial orientation (EO) can generate cross-border value through their innovativeness, proactiveness, and risk-taking in international operations. However, evolving global dynamics and rising geopolitical tensions have increased pressures of cross-border stigmatization, significantly hindering EMNEs' ability to leverage their EO. Grounded in paradox theory and organizational virtue, the study aims to explore how EMNEs can navigate the EO paradoxes within cross-border stigma contexts. Through an abductive longitudinal case study of a leading Chinese-headquartered valve manufacturing firm, we find that as stigma labels evolve from product to technology and finally to identity, they trigger three phase-specific EO paradoxes: expansion vs. contraction, innovation vs. commodification, and autonomy vs. control. To navigate these salient tensions, the firm enacts organizational virtue as a strategic practice. Specifically, we identify a mechanism where temperance-oriented values articulation guides the firm's strategic actions through a dual process—internal capability development and external differentiation—both underpinned by the micro-mechanisms of emotional and desire temperance. With these findings, the study identifies a stigmatization trajectory from product to technology and further to identity stigma. It also reveals EO paradoxical tensions across different developmental stages of EMNEs under cross-border stigmatization. Furthermore, our study extends virtue research into the field of entrepreneurship at the organizational level. It establishes temperance as a source of strategic practice that enables sustainable international entrepreneurship by effectively balancing EO, thereby providing a virtue perspective for strategic management in complex environments. |
| Keywords: | Emerging multinational enterprises (EMNEs), Paradox theory, Temperance-oriented entrepreneurship, Organizational virtue of temperance, Cross-border stigma, Entrepreneurial orientation paradox |
| Date: | 2026–06–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05704520 |
| By: | Iftikhar, Zainab; Zaharieva, Anna |
| Abstract: | We evaluate the effects of low-skilled immigration on small businesses, wages and employment in Germany. We develop a search and matching model with heterogeneous workers, cross-skill matching, and endogenous entry into entrepreneurship. The model is calibrated using German Socio-Economic Panel (SOEP) data. Quantitative analysis shows that low-skilled immigration benefits high-skilled workers while negatively affecting the welfare of low-skilled workers. It leads to the endogenous expansion of immigrant entrepreneurial activities, generating positive spillovers for all demographic groups except native entrepreneurs. Overall, there is a marginal loss to the economy in terms of per worker welfare. This loss is mitigated with increased skilled migration from India. Policies restricting immigrant entrepreneurship relax competition for native small businesses but reduce welfare for all other worker groups. Ethnic segregation of small businesses benefits low-skill native entrepreneurs. |
| Keywords: | entrepreneurship |
| JEL: | J23 J31 J61 J64 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19657 |
| By: | Hoekman, Bernard; Sanfilippo, Marco; Santi, Filippo; Ticku, Rohit |
| Abstract: | Public procurement in developing countries accounts for approximately 13% of GDP, offering a significant market opportunity for domestic firms, especially those facing demand constraints. This paper explores the impact of selling to government entities on firm performance in Uganda, leveraging detailed administrative data and an event study methodology that corrects for firm self-selection and heterogeneity in the timing of the treatment. The results reveal that while firms increase their total sales after entering government contracts, they do not see improvements in productivity (measured by value added per worker). Moreover, sales to non-government customers drop sharply. This reallocation effect is persistent. The effect is not observed when firms sell to large private-sector buyers. Drawing on an original survey of firms engaged in public procurement, we highlight potential drivers of these dynamics, including capacity constraints and profitability differences between public and private sector sales |
| Keywords: | Public procurement; Firm performance |
| JEL: | E62 H32 D22 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19673 |
| By: | Bilgin, Nuriye Melisa; Faia, Ester; Ottaviano, Gianmarco |
| Abstract: | We examine how upstream firms’ technology adoption affects the performance and adoption decisions of downstream partners. Using business-to-business data with administrative records on advanced technology adoption, we find gains in productivity, performance, adoption probabilities of firms connected to the adopter, relatively to those that are not. Identification combines staggered event studies, balanced panels of pre-existing relationships, and recentering methods to address expected exposure within the network. Gains vary along firm size, centrality, technology quality, but do not systematically increase with input exposure, suggesting that knowledge spillovers may induce organizational adjustments. Adoption by competitors is associated with short-run negative effects. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19804 |
| By: | Seo, Gangcheol; Paudel, Krishna P.; Nelson, Kelly |
| Abstract: | This study examines long-run convergence in U.S. state-level agricultural total factor productivity (TFP) and investigates the role of patent-based technological knowledge in explaining persistent productivity differences across states. Using annual agricultural TFP data for 48 contiguous U.S. states from 1960 to 2015, we assess convergence dynamics through σ-convergence tests and the club convergence approach proposed by Phillips and Sul (2007). We then use a two-way fixed effects (TWFE) panel framework to examine whether patent-based knowledge stocks are associated with state-level agricultural TFP. Patent stocks are constructed for six agricultural technology subsectors under alternative assumptions regarding knowledge depreciation and lag structures. The results indicate that U.S. agricultural TFP does not converge toward a common steady state but instead exhibits multiple convergence clubs, suggesting persistent heterogeneity in long-run productivity paths across states. Patent-based knowledge accumulation also displays substantial sectoral heterogeneity. Plants, research tools, animal health, and machinery patent stocks are positively associated with agricultural TFP across most specifications, whereas fertilizer-related patent stocks are negatively associated. These patterns remain broadly robust across alternative constructions of the patent stock. Overall, the findings highlight the importance of technological heterogeneity in long-run agricultural productivity and suggest that accumulated patent-based technological knowledge is associated with agricultural productivity in distinct ways across innovation sectors. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404391 |
| By: | Bøler, Esther Ann; Holtsmark, Katinka; Ulltveit-Moe, Karen Helene |
| Abstract: | We analyze how a negative shock to the profitability of oil-extracting firms may lead to a shift from dirty to clean R&D along the supply chain. First, we develop a theoretical framework, showing that adjustment costs in R&D give firms in the fossil energy supply chain an additional incentive to shift R&D activity towards clean innovation as a consequence of a negative shock. Next, we leverage the 2014 oil price drop to empirically investigate the impact of reduced profitability in the fossil energy supply chain on clean R&D. We propose a novel method to identify firms’ exposure to the shock. In line with the predictions from the model, we find that more exposed firms increased their clean R&D more than other firms. Our findings imply that carbon pricing will nduce clean innovation not only by increasing demand for clean technologies, but also by lowering profitability in the fossil energy supply chain. |
| Keywords: | Clean Innovation; Global supply chains; Carbon pricing |
| JEL: | F18 O31 Q55 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19796 |
| By: | Fey, Sascha |
| Abstract: | Carrying out innovation projects is no easy task in a world characterized by constant change and uncertainty. Adversities such as saving targets, budget cuts, interpersonal conflicts, absenteeism, or employee turnover can significantly impact project progress. Given these circumstances, the question is not "if" but rather "when" a project will be affected by such problems. The concept of resilience is a promising approach to dealing with difficulties in everyday project management. The goal of Innovation Resilience Behaviour, a specific form of resilience, is to equip projects with the necessary tools to detect deviations from the project plan as early as possible and take all necessary measures to get back on track. The existing literature on resilience has shown increasing interest in the topic during recent years. Emanating from social psychology, the construct has demonstrated relevance in other fields as well, such as organizational research. However, Innovation Resilience Behaviour as a specialized field in project management has not yet been examined in depth or empirically tested on a large scale beyond the seminal articles. As part of this study, the author examined 87 innovation projects of a large German logistics service provider, analyzing the relationship between Innovation Resilience Behaviour and project success, as well as four potential moderators (adversities, dispersion, use of communication media, technological innovativeness) and four possible antecedents (trust, identification, goal clarity, top management support) of Innovation Resilience Behaviour. The results show a clear and positive relationship between Innovation Resilience Behaviour and project success. However, three of the four expected moderators did not exhibit the predicted effects—only adversity had a moderating influence on the relationship between Innovation Resilience Behaviour and project success. Regarding the antecedents, this study demonstrates that Identification, goal clarity, and top management support have a significant positive influence on the development of Innovation Resilience Behaviour. The findings of this study contribute to the existing literature, particularly in the following ways: They expand and provide empirical validation of Innovation Resilience Behaviour beyond the previously published seminal articles. The study is conducted at the team level. Several researchers have previously pointed out that the team level has been largely neglected in studies on (innovation) projects in the corporate sector. Confirming Innovation Resilience Behaviour as an important factor for project success also provides team leaders, project managers, and executives with a useful and practical set of tools that allows them to respond individually and effectively to threats or deviations from the project plan. |
| Date: | 2026–05–27 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:160986 |
| By: | Hanousek, Jan; Hramiak, Iryna; Megginson, William L.; Shamshur, Anastasiya |
| Abstract: | In this paper, we examine the impact of Russia’s 2014 annexation of Crimea on firm performance in Ukraine, focusing on firms with Russian affiliations. Using a difference-in-differences approach, we find that firms with Russian majority ownership experienced a significant decline in performance compared to those without Russian ties. This decline stems from reduced sales, lower investment, restricted access to financing, and increased financial constraints. Notably, we differentiate between firms with visible Russian affiliations, such as Russian names, and those with Russian majority ownership. Our results show that deeper financial connections, rather than mere visibility, drive the negative impact. Firms with Russian ownership were also more likely to exit the market following the conflict. These findings provide important insights into how geopolitical risks affect corporate performance and firm strategic decisions |
| Keywords: | investment |
| JEL: | C23 D22 G30 M14 M16 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19771 |
| By: | Martinez, Marco; Nuvolari, Alessandro; Vasta, Michelangelo |
| Abstract: | This paper provides new evidence on the nexus between railroads and inventive activities in Italy in the period 1861-1936. We develop two new georeferenced datasets on railway stations and patents. By adopting the staggered difference in differences identification strategy by Callaway and Sant’Anna (2021), we show that the impact of railroad construction on innovation is only visible for the first wave of construction of the period of the Destra storica (1861-1878), when the network was expanded following a state building strategy. However, these effects became noticeable only after more than two decades and concern mostly independent inventors and low-quality patents. |
| Keywords: | Italy |
| JEL: | O31 O33 N73 L92 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19812 |
| By: | James Bessen |
| Abstract: | Research finds that R&D and software expenditures are highly skewed: large firms spend much more relative to their sizes than do small firms (e.g., see James and Xiupeng Wang. 2025. “The Intangible Divide: Why do so few firms invest in innovation?†Center for Economic Studies Working Paper, CES25-15). To what extent is this the result of firms not reporting these survey items and to what extent are many firms reporting zero values for these items? Moreover, how accurate is firm reporting relative to external sources? One concern is that firms might over- or under-report their actual investments. Perhaps small firms under-report because they have a harder time tracking intangible investments. On the other hand, perhaps large firms re-categorize expenses to exaggerate R&D spending in order to earn bigger R&D tax credits; this is not a concern with software. This note first establishes the extent of non-reporting and zero reporting. Then, using a linear probability model, it looks at the correlates of non- and zero reporting. Finally, it checks the external validity of survey estimates by comparing R&D spending on personnel reported in the BRDIS survey to labor compensation costs of scientists and engineers estimated with data from the Current Population Survey. |
| Keywords: | BERD, ACES, CPS |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:cen:tnotes:26-21 |
| By: | Bouchra El Amrani (UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]); Mohamed-Larbi Aribou |
| Abstract: | In many contexts, organizational knowledge creation emerges as a major strategic lever for sustaining firms' competitive advantage. However, its effectiveness remains strongly conditioned by the organizational context, and more specifically by communities of practice, which influence the processes of knowledge creation, sharing, and integration. This research adopts a qualitative methodology conducted across three companies in the automotive sector, based on 42 interviews, in order to highlight the key role of communities of practice in the creation of new knowledge. The findings show that community dynamics grounded in the mobilization of "soft" factors foster the emergence of new knowledge, whereas those primarily based on technical factors tend to focus on compliance with existing standards, thereby limiting knowledge creation processes. |
| Abstract: | Dans de nombreux contextes, la création de connaissances organisationnelles s'impose comme un levier stratégique majeur pour le maintien de l'avantage concurrentiel des organisations. Toutefois, son efficacité reste fortement conditionnée par le contexte organisationnel, et plus particulièrement par la communauté de pratique, qui influence les processus de création, de partage et d'intégration des connaissances. Cette recherche adopte une méthodologie qualitative menée auprès de trois entreprises du secteur automobile, à travers 42 entretiens réalisés, afin de mettre en évidence le rôle déterminant des communautés de pratique dans la création de nouvelles connaissances. Les résultats montrent que les dynamiques de communauté de pratique fondées sur la mobilisation de facteurs « soft » favorisent l'émergence de nouvelles connaissances, tandis que celles reposant principalement sur des facteurs techniques se limitent au respect des standards existants, freinant ainsi les processus de création de connaissances. |
| Keywords: | Communities of practice Knowledge creation Case study Automotive sector, Communauté de pratique Création des connaissances étude de cas secteur automobile Communities of practice Knowledge creation Case study Automotive sector www.africanscientificjournal.com |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05623460 |
| By: | mohammed khaouja (LRMD FEG Settat - Laboratoire de Recherche en Management et Développement - Faculté des Sciences Economiques et de Gestion, ERMOT - Laboratoire "Etudes et recherches en Management des Organisations et des Territoires" [Fez] - USMBA - Université Sidi Mohamed Ben Abdellah); Sanaa Dfouf; Kaoutar Errakha; Hanan Elharissi (FEG SETTAT - Faculté d’Économie et de Gestion de Settat); Fekkak Hamdi |
| Abstract: | University-industry technology transfer (UITT) is essential for converting academic research into commercial use, yet traditional strategies often fail to address the knowledge gap. Literature suggests that institutional inertia, communication barriers, and ineffective marketing strategies hinder the commercialization of technology. This study proposes a conceptual framework that incorporates AI-driven marketing to enhance knowledge dissemination, market identification, and stakeholder engagement within the technology transfer process. This systematic literature review amalgamates insights from UITT, AI marketing applications, and knowledge management systems. A qualitative analysis of peer-reviewed literature from 2017 to 2025 identifies trends, deficiencies, and emerging patterns, leading to an integrated framework that assesses technology transfer strategies and the implementation of AI marketing across diverse sectors, leveraging the Technology-Organization-Environment (TOE) model and the Unified Theory of Acceptance and Use of Technology (UTAUT). The investigation demonstrates that AI-enhanced marketing can significantly bolster UITT through five AI-enhanced marketing capabilities: precise client segmentation, predictive analytics of market trends, tailored communication, improved knowledge management, and streamlined digital outreach. This methodology fosters reciprocal knowledge exchanges, positioning AI as a facilitator between market insights and university research aims while refining technology presentations for industry stakeholders. Moreover, the study highlights critical concerns regarding data privacy, implementation expenses, technical complexities, and the necessary proficiency in AI and technology transfer. |
| Keywords: | research initiatives, Collaboration university-industry technology transfer AI-enhanced marketing innovation knowledge sharing economic growth strategic partnerships research initiatives entrepreneurial mindset, entrepreneurial mindset, Collaboration, strategic partnerships, economic growth, knowledge sharing, innovation, AI-enhanced marketing, technology transfer, university-industry |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05638557 |
| By: | Taghizadeh, Rahim (Department of Industrial Engineering, Urmia University of Technology, West Azerbaijan, Urmia, Iran.); Babazadeh Behestani, Salar (Allameh Tabatabaei University, Tehran, Iran.); Arabsheibani, Reza (London School of Economics) |
| Abstract: | generally a consensus remains elusive regarding the optimal method for measuring the effects of technological change and innovation on employment. This study introduces a Technological Change Composite Indicator (TCI), constructed using Principal Component Analysis (PCA) to synthesize seven firm-level innovation metrics. This methodology mitigates issues associated with multicollinearity in regression analyses involving correlated variables. The proposed TCI serves as a proxy for technological change to examine its association with employment in manufacturing sectors across 10 European Union countries and 17 seventeen manufacturing sectors with country fixed effects and a one‑year time lag. We find that a one‑unit increase in the TCI corresponds to a 0.58% higher employment level. The association is positive and statistically significant, indicating that a multidimensional measure of technological change outperforms traditional single proxies such as R&D expenditure or patent counts. By moving beyond narrow indicators, our approach offers a more reliable empirical basis for understanding the employment implications of technological change, including emerging technologies such as AI. |
| Keywords: | composite indicator, latent approach, technological change, employment, manufacturing industry, PCA analysis, regression method |
| JEL: | O33 J23 O14 C38 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18814 |
| By: | Scott Kaplan; Ryan Raimondi |
| Abstract: | This paper studies the impact of geographic proximity to and utilization of publicly funded advisory services offered to US small businesses on firm take-up and performance. We leverage a novel administrative dataset from the Northern California Small Business Development Center (SBDC) Network covering all firm-center interactions from 2006-23. To address endogeneity in firm engagement with centers, we exploit exogenous variation in center-firm geographic proximity generated by center closures and openings. We instrument for paired center-firm consulting time with changes in distance resulting from these organizational shifts. A one standard deviation reduction in distance between a firm and corresponding center (20 miles) increases expected annual consulting time by 0.15 hours (7.5%); each additional consulting hour raises average firm annual revenue and employment by 3.6-5.2% and 1.6-2.9%, respectively. Back-of-the-envelope calculations suggest advisory services are cost-effective. This study provides novel causal evidence on take-up and effectiveness of small business advisory services in the US using quasi-experimental variation in geographic proximity. Our findings highlight the importance of both physical distance and localized expertise in shaping small business outcomes. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.07849 |
| By: | Beatrice Di Marco (LUMSA University, Rome, Italy); Giovanni Ferri (LUMSA University, Rome, Italy; HURfuture Research Center); Marco Pini (Centro Studi delle Camere di Commercio Guglielmo Tagliacarne) |
| Abstract: | Investors increasingly assess firms using broader performance measures beyond return on equity, emphasizing ESG (environmental, social and governance) outcomes. Micro- and small-sized enterprises (MSEs), which traditionally rely on cooperative banks to ease credit constraints, now face growing pressure to adopt sustainable practices. This shift calls for re-examining whether relationships with credit cooperative banks (CCBs) enhance not only credit access but also ESG performance. Using data from the 2023 Tagliacarne Institute Survey in Italy, the study develops an innovative metric and applies an instrumental variables approach to address endogeneity. Results are robust and show a positive ESG effect, particularly when firms are geographically close to CCB branches. |
| Keywords: | Cooperative banks; Small businesses; Access to credit; ESG performance |
| JEL: | G21 L25 L26 L31 M14 P13 Q56 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:lsa:wphurf:wphurf04 |
| By: | Campos, Francisco; Safir, Abla; Koffka, Celine; McKenzie, David; Zia, Bilal |
| Abstract: | Business plan competitions aim to identify and spur high-growth entrepreneurs. Two experiments were embedded into in a Kenyan competition to test how intensity of selection and of capital determine entrepreneurial outcomes. Applicants received a US$9, 000 grant after a streamlined process or went through multiple selection stages and were randomly assigned US$9, 000 or US$36, 000. All grants initially generated jobs, but the impacts only persisted over three years under multi-stage selection. The larger grants did not yield greater long-term impacts than the multi-stage US$9, 000 grant, suggesting diminishing returns to capital and limited lumpy investment opportunities. Selection, rather than grant size, determines long-run firm growth. |
| Date: | 2026–07–27 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11432 |
| By: | Anna D’annunzio (UNINT - Università degli Studi Internazionali di Roma = University of International Studies of Rome); Yassine Lefouili (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Bruno Jullien (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Leonardo Madio (Unipd - Università degli Studi di Padova = University of Padua) |
| Abstract: | This paper examines how horizontal mergers affect firms' incentives to invest in R&D leading to the development of new products. We characterize the impact of a merger to monopoly and a 3-to-2 merger on equilibrium innovation efforts and consumer surplus, absent efficiency gains and spillovers. We show that a 3-to-2 merger directly alters the outsider's innovation incentives by shifting its best-response function upward, and we analyze how this mechanism affects merger outcomes for innovation and consumer surplus. Finally, we examine how efficiency gains and remedies modify post-merger innovation efforts. |
| Keywords: | R&D Investments, Amp, Product Innovation, Horizontal Mergers |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05680914 |
| By: | Kumar, Labesh; Neumann, Rebecca |
| Abstract: | Whether financial development promotes industrial innovation depends not just on how developed a country’s financial system is, but on which dimensions of that system are well developed. This paper examines how depth, access, and efficiency of both financial institutions and financial markets shape R&D investment across industries that differ in their reliance on external finance. Using industry-level data from the ISIC Rev. 4 classification across 18 OECD countries from 1995 to 2019, and drawing on the IMF’s multidimensional Financial Development Index, we analyze how country-level financial development measures interact with an industry-level external finance dependence measure to influence R&D intensity measured relative to output and value added. Our findings show that the overall level of financial development matters primarily through depth. In particular, the depth of financial institutions and, to a lesser extent, the depth of financial markets significantly raise R&D intensity in industries that depend more heavily on external funding. Measures of access and efficiency display little systematic effect. The results are strongest within manufacturing industries, where innovation activity is concentrated. These findings highlight the importance of financial structure and, in particular, the scale and capacity of financial intermediation, in shaping the allocation of innovative investment across industries. |
| Keywords: | R&D intensity, financial development, financial institution depth, external finance dependence, innovation |
| JEL: | G10 G20 O16 O30 |
| Date: | 2026–03–24 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128447 |
| By: | Siddiki Mohamadou Moktar (UMA - FACULTE DES SCIENCES ECONOMIQUES ET DE GESTION BP: 46 MAROUA (CAMEROUN) Email : fseg.uma@gmail.com www.uni-maroua.citi.cm) |
| Abstract: | SME sustainability represents a major strategic challenge in African economies, where failure rates remain high. This study examines the influence of owner-managers' personality traits, operationalized through the Big Five model (Costa & McCrae, 1992), on Cameroonian SME sustainability, conceptualized as a multidimensional construct encompassing financial performance, growth, and confidence in the future. Drawing on a hypothetico- deductive approach, the research relies on a sample of 276 SME owner- managers and employs exploratory factor analysis and multiple linear regression techniques. The findings reveal a globally significant but moderate effect of personality traits on sustainability. Conscientiousness and extraversion emerge as the most structurally influential positive determinants, openness to experience plays a complementary role, while neuroticism constitutes the primary driver of organizational fragility. This study contributes to the hierarchical identification of psychological determinants of sustainability and underscores the relevance of incorporating behavioral dimensions of owner-managers into entrepreneurial support programs, particularly in institutionally uncertain contexts. |
| Abstract: | La pérennité des petites et moyennes entreprises (PME) constitue un enjeu stratégique majeur dans les économies africaines, où les taux de défaillance demeurent élevés. Cette recherche examine l'influence des traits de personnalité du dirigeant, opérationnalisés à travers le modèle des Big Five (Costa & McCrae, 1992), sur la pérennité des PME camerounaises, appréhendées comme un construit multidimensionnel combinant performance financière, croissance et confiance en l'avenir. S'inscrivant dans une démarche hypothético- déductive, l'étude repose sur un échantillon de 276 dirigeants de PME et mobilise des analyses factorielles exploratoires et des régressions linéaires multiples. Les résultats révèlent un effet global significatif, mais modéré des traits de personnalité sur la pérennité. La conscienciosité et l'extraversion constituent les déterminants positifs les plus structurants ; l'ouverture à l'expérience joue un rôle complémentaire et l'agréabilité présente l'effet le plus faible, tandis que le névrotisme représente le principal facteur de fragilité organisationnelle. Cette étude contribue à la hiérarchisation des déterminants psychologiques de la pérennité et souligne la pertinence d'intégrer les dimensions comportementales du dirigeant dans les dispositifs d'accompagnement entrepreneurial, notamment dans les contextes institutionnels incertains. |
| Keywords: | long-term performance, Big Five model, SME sustainability, Personality traits, performance durable, Big Five, pérennité des PME, Traits de personnalité |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05629157 |
| By: | Motloutsi, Veronica; Viriri, Serestina; Samuels, Alexander |
| Abstract: | Digital transformation is widely presented as a pathway to financial inclusion, entrepreneurial growth, and sustainable development, yet its developmental effects remain uneven in emerging economies. This tension is particularly evident in South Africa’s fintech entrepreneurial ecosystem, where a relatively sophisticated financial sector and expanding digital innovation coexist with persistent inequality, skills shortages, fragmented institutional support, and regulatory complexity. Existing digital transformation research has largely focused on firm-level adoption, business model innovation, and technology-enabled change, offering limited explanation of how broader ecosystem conditions shape sustainable development outcomes in contexts such as South Africa. In response, this article develops a Critical Realist Digital Transformation Capacity Framework to explain how digital transformation may contribute to sustainable development within South Africa’s fintech entrepreneurial ecosystem. Drawing on digital transformation theory, capacity development theory, entrepreneurial ecosystem scholarship, and critical realism, the article argues that digital transformation is not a self-executing technological process but a contextually mediated and capacity-dependent phenomenon. It identifies institutional capacity, human capacity, and policy capacity as the key generative mechanisms through which digital technologies may support financial inclusion, ecosystem resilience, entrepreneurial participation, and broader economic development. By integrating these literatures, the article extends global information technology scholarship beyond technology-centric and firm-level accounts and offers an African-centred, mechanism-based explanation of digitally enabled development. The framework provides a conceptual foundation for future empirical research and a diagnostic lens for policymakers, regulators, and ecosystem actors in South Africa and other emerging-market settings. The study contributes to information systems theory by introducing Digital Transformation Capacity as a higher-order theoretical construct that explains how institutional, human, and policy capacities mediate the relationship between digital transformation and sustainable development. |
| Date: | 2026–07–22 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:87vbp_v2 |
| By: | Bambe, Bao-We-Wal; Tamasiga, Phemelo |
| Abstract: | Climate mitigation and adaptation require substantial investment to advance sustainable development. In low- and middle-income countries (LMICs), mobilising such finance is particularly challenging for small and medium-sized enterprises (SMEs) due to persistent market failures, including limited financial disclosure and weak credit-risk information. High upfront costs, uncertain returns and weak regulatory frameworks further constrain adoption of low-carbon technologies. While fiscal constraints and the capital-intensive transition underscore the need for private capital, traditional bank financing is restricted by long project horizons, high risk and macroeconomic instability. Blended finance and guarantees are key instruments for mobilising private investment in LMICs. Blended finance combines concessional public resources with private or additional public capital to mitigate profitability risks, while guarantees reduce perceived risk by covering partial losses, particularly for non-commercial risks. This policy brief assesses their role in scaling SME climate finance, alongside their limitations and context-specific applicability. Evidence suggests that leverage effects, especially for blended finance, are more modest than often assumed and are context dependent; nonetheless, these instruments remain relevant for de-risking SME finance, contingent on improved design and implementation. The policy brief advances the following recommendations: - Financial intermediaries should prioritise SMEs facing binding financing constraints that prevent projects with clear socio-economic and environmental benefits. Project selection should integrate financial and climate vulnerability, though assessment remains difficult in low-income countries (LICs). De-risking instruments should target specific constraints, with guarantees mitigating risks and blended finance supporting projects with insufficient risk-adjusted returns to attract private capital. Multilateral development banks (MDBs) and development finance institutions (DFIs) should ensure additionality, minimise concessionality and strengthen monitoring and transparency. - MDBs and DFIs should better align donor incentives with effective risk-sharing and flexible financing structures. Concessional senior loans dominate blended finance but have limited loss absorption, reducing effectiveness in high-risk environments. A more balanced mix, including subordinated debt, equity and guarantees, can improve risk allocation and crowd in private investors. Greater use of special purpose vehicles and off-balance-sheet structures can further expand financing capacity in fragile contexts. - MDBs and DFIs should strengthen coordination, standardisation and local engagement. Fragmentation in blended finance and guarantees increases complexity and transaction costs and deters institutional investors. Greater harmonisation across MDBs, DFIs and private investors would improve capital allocation and complementarity, while standardised procedures and contracts would streamline project preparation and scaling in LMICs. Governments in LMICs should address structural constraints, with MDBs and DFIs providing complementary de-risking and capacity-building support. Weak investment climates, shallow financial markets, poor project pipelines and weak credit information systems reduce the effectiveness of blended finance and guarantees, particularly in LICs. Governments should strengthen investment climates, deepen financial markets and improve SME capabilities, while MDBs and DFIs support local intermediaries and broader reforms. |
| Keywords: | Blended finance, guarantees, small and medium-sized enterprises, green finance, low- and middle-income countries, SDGs |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:idospb:342586 |
| By: | Abdellah Ait El Quadi (Laboratoire de Recherche en Gestion des Entreprises (LaRGE) , Ecole Nationale de Commerce et de Gestion d’Agadir); Mohamed Hangoure (Laboratoire de Recherche en Gestion des Entreprises (LaRGE) ENCG d’Agadir) |
| Abstract: | Les zones oasiennes et semi-arides font face à des défis multiples incluant la rareté de l'eau, la désertification, l'exode rural et la marginalisation économique. Malgré une littérature abondante sur l'entrepreneuriat social dans divers contextes géographiques, aucune synthèse systématique n'a spécifiquement examiné son rôle dans les écosystèmes oasiens et semi-arides, caractérisés par des contraintes hydriques extrêmes et une vulnérabilité climatique accrue. Cette revue systématique vise à combler cette lacune en synthétisant les connaissances sur les mécanismes par lesquels l'entrepreneuriat social contribue au développement durable de ces zones fragiles. Nous définissons l'entrepreneuriat social comme un processus de création de valeur combinant mission sociale explicite, innovation dans la mobilisation des ressources et viabilité économique (Dees, 1998 ; Mair & Martí, 2006). Suivant le protocole PRISMA 2020, une recherche systématique a été menée dans trois bases de données (Web of Science, Scopus et Google Scholar) couvrant la période 2003-2025. Après dédoublonnage et screening indépendant par deux évaluateurs (k=0.82 pour titre/résumé ; k=0.78 pour texte intégral), 58 études ont été incluses dans la synthèse thématique finale. La synthèse révèle cinq thèmes principaux : (1) l'inclusion économique à travers la valorisation des produits locaux et la création d'emplois, avec 15-45 emplois par initiative documentés dans 12 études indiennes et marocaines ; (2) l'innovation dans les modèles d'affaires, notamment les coopératives (23 études) et les entreprises hybrides (15 études) ; (3) la durabilité environnementale via la gestion innovante de l'eau, avec une réduction de 30-60% de la consommation documentée dans 8 études ; (4) l'autonomisation communautaire avec une participation féminine de 45-70% dans les coopératives, rapportée par 14 études ; et (5) la résilience et l'adaptation climatique (18 études). Les études proviennent principalement d'Inde (21%), du Maroc (19%), d'Égypte (12%), de Jordanie (9%), du Kenya (7%) et du Brésil (7%). L'entrepreneuriat social démontre un potentiel significatif pour le développement durable des zones oasiennes, mais nécessite un soutien institutionnel renforcé, des mécanismes de financement adaptés et une meilleure mesure des impacts à long terme. |
| Keywords: | social entrepreneurship, oasis regions, sustainable development, water management, cooperatives, climate resilience, entrepreneuriat social, zones oasiennes, développement durable, gestion de l'eau, coopératives, résilience climatique |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05631932 |