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on Technology and Industrial Dynamics |
| By: | David B. Audretsch; Max Keilbach |
| Date: | 2006–05 |
| URL: | http://d.repec.org/n?u=RePEc:esi:egpdis:2006-13&r=tid |
| By: | Johansson, Börje (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This paper examines systematically the importance of location versus a vector of firm attributes on firms’ innovation engagements. The various factors that can influence a firm’s innovation efforts are divided into (i) firm location, reflecting the regional milieu, and (ii) firm attributes such as corporate structure, nature of the knowledge production, type of industry and a set of specific firm characteristics. The study is based on information about 2, 094 individual Swedish firms, where a firm may be non-affiliated or belong to a group (multi-firm enterprise), domestically or foreign owned. The study concludes that the propensity to be innovative differs between the five macro-region investigated. Among innovative firms, however, the R&D intensity as well as most other innovation-activity characteristics remain invariant with regard to location, when controlling for the skill composition, physical capital intensity, industry, corporate structure firm, size and market extension |
| Keywords: | Functional regions; innovation systems; corporate structure; R&D |
| JEL: | C21 G34 L22 O33 |
| Date: | 2006–05–04 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0063&r=tid |
| By: | Fritz Rahmeyer (University of Augsburg, Department of Economics) |
| Abstract: | Evolutionary economics in the initial version of Nelson and Winter is concentrated on the analysis of the evolution of industries and markets and in that entrepreneurial innovation activities. But a theory of the firm beneath the level of the industry is not taken into account to a large extent. In order to widen its fundamental principles a resource-based, and as its extension, a knowledge-based view of the firm, both originated in the field of Business Strategy, are seen as promising candidates to close this gap within evolutionary economics. Industry dynamics as the evolution of a population of firms in this way is supplemented by a more detailed characterization of the internal structure of individual firms. It is the fundamental question with regard to the adequacy of an evolutionary interpretation of firm behaviour and development as to what extend a firm and its individual activities are considered to be capable of purposefully and actively influencing its environment, on the one hand, and are blindly selected by environmental pressure, on the other hand. In this way firms become intendedly heterogenous concerning market performance and organizational structure. Regarding the general topic of a theory of the firm, a unified approach will not be constructed, but more likely a hybrid one being composed of technological, institutional and efficiency-based elements. |
| Keywords: | economic evolution; resource-based view; knowledge-based view of the firm; theory of the firm management |
| JEL: | B52 D21 D83 L23 |
| Date: | 2006–05 |
| URL: | http://d.repec.org/n?u=RePEc:aug:augsbe:0283&r=tid |
| By: | Bitzer, Jürgen (Free University, Berlin); Schröder, Philipp J.H. (Department of Organisation and Management, Aarhus School of Business) |
| Abstract: | No abstract |
| Keywords: | No keywords; |
| Date: | 2005–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhb:aardom:2005_012&r=tid |
| By: | Bronwyn H. Hall; Megan MacGarvie |
| Abstract: | We investigate the value creation or destruction associated with the introduction of software patents in the United States in two ways. The first looks at the cumulative abnormal returns to ICT firms around the time of important court decisions impacting software patents, and the second analyzes the relationship between firms' stock market value, the sector in which they operate, and their holdings of software patents cross-sectionally. We find that the extension of patentability to software was initially negative for software firms, especially for those producing application software or services. We also find that software patents are positively and significantly associated with Tobin's Q, and that the market's valuation of software patents increased following changes in the USPTO's treatment of software patents in 1995. |
| JEL: | O34 L63 L86 |
| Date: | 2006–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:12195&r=tid |
| By: | Elisabeth Müller (Centre for European Economic Research (ZEW), Department of Industrial Economics and International Management, L7, 1, 68161 Mannheim, Germany. mueller@zew.de); Volker Zimmermann (KfW Bankengruppe, Palmengartenstraße 5-9, 60325 Frankfurt/Main, Germany. Volker.Zimmermann@kfw.de) |
| Abstract: | This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find that a higher equity ratio is conducive to more R&D for young but not for old companies. Equity may be a constraining factor for young companies which have to rely on the original equity investment of their owners since they have not yet accumulated retained earnings and can relay less on outside financing. The positive influence is found for R&D intensity but not for the decision whether to perform R&D. Equity financing is therefore especially important for the most innovative, young companies. |
| Keywords: | R&D activity, equity finance, small and medium-sized enterprises |
| JEL: | G32 O32 |
| Date: | 2006–02 |
| URL: | http://d.repec.org/n?u=RePEc:trf:wpaper:111&r=tid |