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on Technology and Industrial Dynamics |
| By: | Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Ding, Ding (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Thulin, Per (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | By utilising a Swedish unique, matched employer-employee dataset that has been pooled with firm-level patent application data, we provide new evidence that knowledge workers’ mobility has a positive and strongly significant impact on firm innovation output, as measured by firm patent applications. The effect is particularly strong for knowledge workers that have previously worked in a patenting firm (the learning-by-hiring effect), but firms losing a knowledge worker are also shown to benefit (the diaspora effect), albeit more weakly. Finally, the effect is more pronounced when the joining worker originates in another region. |
| Keywords: | Labour mobility; knowledge diffusion; innovation; social networks |
| JEL: | J24 O31 R23 |
| Date: | 2015–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0403&r=tid |
| By: | Trinh, Long |
| Abstract: | Using firm-level panel data collected in Vietnam bi-annually from 2005 to 2013, this paper examines whether innovation is persistent among small firms in Vietnam. The empirical results obtained from dynamic random effect probit and dynamic random effect ordered probit show that the innovation activity is persistent among these small firms. Our estimation results also show slightly different roles of human capital of firm’s owner and employees in innovation activities. While the owner’s human capital is associated with creating a new product, employees’ human capital is positively correlated with upgrading the existing products or production procedure. However, we do not find evidence on the roles of unobserved heterogeneity in explaining this persistence. Our results are consistent with results found in the literature for firms in developed economies. |
| Keywords: | Innovation, Persistence of Innovation, Unobserved heterogeneity, Dynamic Random Effect Probit Model, Dynamic Random Effect Ordered Probit Model, Small and Medium Enterprises, Vietnam |
| JEL: | C23 C25 L20 O31 O33 |
| Date: | 2015–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63767&r=tid |
| By: | Silviano Esteve Pérez (Department of Applied Economics II, Universitat de València); Fabio Pieri (Department of Applied Economics, Universitat de València); Diego Rodriguez (Department of Applied Economics II, Universidad Complutense de Madrid) |
| Abstract: | This paper contributes to fill the gap between the literature on the determinants of firm survival and the theoretical and empirical works on the product life cycle (PLC). Using a representative sample of Spanish manufacturing firms with ten or more employees over the period 1991-2010, we empirically analyze the role played by firm age and productivity on firm survival across three different phases of the PLC to which firms are allocated according to firm- and product-level haracteristics. Firm age results to be negatively and significantly correlated with hazard rates mostly in the ‘young’ phase of the PLC, pointing out the role of ‘learning processes’ in this phase, while firm productivity is associated with lower hazard rates only in the ‘old’ phase of the PLC when market competition is primarily efficiency-driven. Our results qualify the roles of age and productivity as determinants of firm survival. |
| Keywords: | Product life cycle; firm survival; Spanish manufacturing firms; discrete time survival methods |
| JEL: | C41 L10 L60 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:1502&r=tid |
| By: | Felix J. Lopez-Iturriaga (National Research University Higher School of Economics); Emilio Lopez-Millan (University of Valladolid) |
| Abstract: | We combine agency theory with the law and finance approach to analyze how the legal protection of investors and the corporate ownership structure affect the corporate investment in research and development (R&D). We use information from 1,091 firms from the five most R&D intensive industries in 19 developed countries. Our results show that the better protection of investors’ rights by the institutional environment has a positive influence on corporate R&D. We also find that corporate ownership concentration works as a substitute for legal protection. This finding means that the R&D investment of the firms in the countries with poor legal protection increases as long as the ownership becomes more concentrated. Our results also show that the identity of shareholders has a relevant effect: Whereas banks and nonfinancial institutions as shareholders result in lower R&D, institutional investors as shareholders increase the corporate investment in R&D. |
| Keywords: | Institutional setting, ownership structure, corporate R&D, legal protection |
| JEL: | G32 O32 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:36man2015&r=tid |