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on Technology and Industrial Dynamics |
| By: | Roberto Fontana; Alessandro Nuvolari; Hiroshi Shimizu; Andrea Vezzulli |
| Abstract: | It is well known that not all innovations are patented, but the exact volume of innovative activities undertaken outside the coverage of patent protection and, relatedly, the actual propensity to patent an innovation in different contexts remain, to a major degree, a matter of speculation. This paper presents an exploratory study comparing systematically patented and unpatented innovations over the period 1977-2004 across industrial sectors. The main data source is the ‘R&D 100 Awards’ competition organized by the journal Research and Development. Since 1963, the magazine has been awarding this prize to the 100 most technologically significant new products available for sale or licensing in the year preceding the judgments. We match the products winners of the R&D 100 awards competition with USPTO patents and we examine the variation of patent propensity across different contexts (industries, geographical areas and organizations). Finally we compare our findings with previous assessments of patent propensity based on several sources of data. |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:ise:isegwp:wp092013&r=tid |
| By: | Colombo, Luca (Università Cattolica del Sacro Cuore); Dawid, Herbert (University of Bielefeld); Piva, Mariacristina (Università Cattolica del Sacro Cuore); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | This paper investigates, both theoretically and empirically, the implications that complementary assets needed for the formation of start-ups – proxied by the ease of access to financial resources – have on the innovative efforts of incumbent firms. In particular, we develop a theoretical model, highlighting a strategic incentive effect by which the innovative efforts of incumbent firms are decreasing in the availability of the complementary assets needed for the creation of a start- up. The empirical relevance of this effect is investigated by using firm level data drawn from the third Italian Community Innovation Survey covering the period 1998-2000. The results of our empirical analysis support our theory-based insights. |
| Keywords: | R&D, innovation, start-up, complementary assets |
| JEL: | O31 L26 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7302&r=tid |
| By: | Takashi Hatakeda (Graduate School of Business Administration, Kobe University) |
| Abstract: | We estimate dynamic R&D investment models in publicly traded Japanese manufacturing firms over 2001-2009. Splitting into two subsamples by the degree of corporate diversification, we provide evidence that less-diversified firms have an increased tendency to smooth R&D@but more-diversified firms donft do it. To clarify the causes behind corporate diversification, we also turn our eyes on the effect of financial liquidity or share ownership structure, showing that financially unconstrained firms tend to smooth R&D investment. We, furthermore, provide evidence that corporate diversification doesnft improve financial liquidity in financially constrained firms, but deteriorates financial liquidity in some financially unconstrained firms. |
| Keywords: | corporate diversification; R&D; investment smoothing; financial liquidity; share ownership structure |
| JEL: | G31 G32 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:kbb:dpaper:2012-42&r=tid |