|
on Technology and Industrial Dynamics |
| By: | Daniele Moschella; Federico Tamagni; Xiaodan Yu |
| Abstract: | This article investigates the characteristics of high-growth (HG) firms in Chinese manufacturing, and further explores the effects of firm characteristics on persistence of high-growth. We employ a multidimensional definition of HG firms that simultaneously accounts for growth of sales and employment. Exploiting a representative panel covering the period of the Chinaùs miracle, we find that HG firms outperform other firms, showing higher productivity, higher profitability, larger investment intensity, higher sales from product innovation, lower interest expenses and lower leverage. HG firms are also relatively young, larger in size, more often exporters and more concentrated in non-State-controlled companies. However, regression analysis suggests that none of the indicators of structural characteristics and performance considered above displays any statistical association with the ability to persistently replicate high-growth over time. The results speak against the long-run effectiveness of policies supporting the creation and backing of high-growth firms. |
| Keywords: | Entrepreneurship, Firm growth, High-growth firms, Persistent high-growth firms |
| Date: | 2017–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2017/03&r=tid |
| By: | C. Conti (Sapienza University of Rome); M. L. Mancusi (Catholic University (Milan) and CRIOS, Bocconi University); F. Sanna-Randaccio (Sapienza University of Rome); R. Sestini (Sapienza University of Rome); E. Verdolini (Fondazione CMCC and Fondazione Eni Enrico Mattei) |
| Abstract: | A major concern regarding innovation in clean technologies in the EU is that the fragmentation of its innovation system may hinder knowledge flows and, consequently, spillovers across member countries. A low intensity of knowledge flows across EU states can negatively impact their technological base, suppressing opportunities for further innovations and hindering the movement towards the technological frontier. This paper evaluates the fragmentation of the EU innovation system in the field of renewable energy sources (RES) by examining the intensity and direction of knowledge spillovers over the years 1985-2010. We modify the original double exponential knowledge diffusion model to provide information on the degree of integration of EU countries’ innovation efforts and to assess how citation patterns changed over time. We show that EU RES inventors have increasingly built “on the shoulders of the other EU giants”, intensifying their citations to other member countries and decreasing those to domestic inventors. Furthermore, the EU strengthened its position as source of RES knowledge for the US. Finally, we show that this pattern is peculiar to RES, with other traditional (i.e. fossil-based) energy technologies behaving in a completely different way. |
| Keywords: | Knowledge Spillovers, Renewable Energy Technologies, Fossil Energy Technologies, EU Innovation |
| JEL: | Q55 Q58 Q42 O31 O33 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2016.71&r=tid |
| By: | Akcigit, Ufuk; Grigsby, John; Nicholas, Tom |
| Abstract: | We examine the golden age of US innovation by undertaking a major data collection exercise linking US patents to state and county-level aggregates and matching inventors to Federal Censuses between 1880 and 1940. We identify a causal relationship between patented inventions and long run economic growth and outline a basic framework for analyzing key macro and micro-level determinants. We explore drivers of regional performance including population density, financial development, geographic connectedness and social structure. We then profile the characteristics of inventors and their life cycle, measure the returns to technological development, and document the relationship between innovation, inequality and social mobility. Our new data help to address important questions related to innovation and long-run growth dynamics. |
| Keywords: | census; demographics; Earnings; growth; innovation; inventors; migration; patents |
| JEL: | N11 N12 O31 O40 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:11755&r=tid |
| By: | Sadowski, Bert; Nomaler, Onder; Whalley, Jason |
| Abstract: | The Internet-of-things (IoT) has been heralded as the third industrial revolution combining disruptive technological change and a radical restructuring of the traditional ICT ecosystem. Technological diversification allows companies in the information and communication technology (ICT) industries to participate in the IoT by transplanting their existing know-how to new application domains. In using the ICT ecosystem perspective, this paper examines the diversification of 1323 ICT companies into IoT by investigating 86,159 main patents in the IoT area using the USPTO database. The paper examines the extent to which the existing knowledge base allows ICT firms to diversify into the new technological area, that is, IOT. It utilizes an entropy measure to characterize the extent to which ICT firms diversify into IoT. We propose that a firm's knowledge position in a new emerging technological has an important strategic value in terms of competitiveness. It characterizes a few new application domains in neighboring industries like health or transport. The paper concludes that due to technological pervasiveness Iot provides for new innovative activities and technological opportunities for ICT companies to grow in emerging sectors like wearables, industrial automation, smart energy and smart mobility. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148701&r=tid |
| By: | Joachim Wagner (Leuphana University Lueneburg, Germany) |
| Abstract: | This paper uses information on more than 160 million export and import transactions by German firms from 2009 to 2012 to document the decisive role of multi-market traders thatare active on many foreign markets, where a market is defined as a combination of a good traded and a country traded with. Using merged information from trade transactions and from surveys conducted by the statistical offices it is shown that, controlling for detailed industry affiliation, the number of foreign markets a firm from manufacturing industries is active on as an exporter or importer is higher in firms that are larger, older and foreign owned and that have higher labor productivity, human capital intensity and R&D intensity. With the exception of labor productivity these results are valid ceteris paribus, too. All these empirical results are in line with hypotheses that are derived from the literature on the links between firm characteristics and the extensive margins of foreign trade. |
| Keywords: | Exports, Imports, Transaction level data, Germany |
| JEL: | F14 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:lue:wpaper:368&r=tid |
| By: | Serafica, Ramonette B. |
| Abstract: | This paper examines the evidence on service innovation using the 2012 Census of Philippine Business and Industry and the 2009 Pilot Survey of Innovation Activities. It reveals the wide variation in R&D intensities and differences in innovation behavior between the manufacturing and services sectors, for example, with respect to information sources and innovation activities. Many similarities were also detected in terms of service product innovation, the popularity of organizational innovation, and the preference for training activities, among others. Looking at structural factors, the probit regression analyses indicate that the size of the firm is a good determinant for all types of innovation. Ownership and age were also significant for certain innovation outputs, which could help inform policies on foreign direct investment and entrepreneurship. The results of this paper reveal the importance of service innovation not only for the services sector but also for the manufacturing sector consistent with servicification. In general, different types of innovation are undertaken by industries for various reasons, and the technological and nontechnological forms of innovation complement each other. If the government aims to promote economy-wide upgrading, support for innovation should not favor only one type of innovation output or activity. Further research on innovation behavior to cover more industries will be useful in developing a comprehensive and more nuanced approach to innovation policy. |
| Keywords: | Philippines, services, research and development (R&D), innovation, manufacturing, servicification |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2016-20&r=tid |
| By: | Hui He; Nan Li; Jing Fang |
| Abstract: | This paper examines whether the rapid growing firm patenting activity in China is associated with real economic outcome by building a unique dataset uniting detailed firm balance sheet information with firm patent data for the period of 1998-2007. We find strong evidence that within-firm increases in patent stock are associated with increases in firm size, exports, and more interestingly, total factor productivity and new product revenue share. Event studies using first-time patentees as the treatment group and non-patenting firms selected based on Propensity-Score Matching method as the control group also demonstrate similar effects following initial patent application. We also find that although state-owned enterprises (SOEs) on average have lower level of productivity and are less innovative compared to their non-state-owned peers, increases in patent stock tend to be associated with higher productivity growth among SOEs, especially for patents with lower innovative content. The latter could reflect the preferential government policies enjoyed by SOEs. |
| Keywords: | Technological innovation;China;Business enterprises;Public corporations;Innovation, Growth, Patent, R&D, Productivity, SOE Reforms, China |
| Date: | 2016–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:16/249&r=tid |
| By: | Charlie Karlsson; Sam Tavassoli |
| Abstract: | This paper analyzes the role of regional characteristics on innovation persistency among firms. Using five waves of the Community Innovation Survey in Sweden, we have traced the innovative behavior of firms over a ten-year period, i.e. between 2002 and 2012. On the one hand, we distinguish between four types of innovations: process, product, marketing, and organizational innovations. On the other hand, we considered various regional characteristics including knowledge stock, market thickness, and extent of knowledge spillovers. Using a dynamic Probit model, we found that, in general, those firms located in the regions with higher stock of knowledge, thicker market, and higher extent of knowledge spillovers exhibit higher probability of being a persistent innovators. Such higher persistency is mostly pronounced for product innovators. |
| Keywords: | location; persistence; innovation; product innovations; process innovations; market innovations; organizational innovations; firms; Community Inno¬vation Survey |
| JEL: | D22 L20 O31 O32 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa16p154&r=tid |
| By: | Emiko Inoue |
| Abstract: | Innovation is expected to become an essential element in overcoming climate change issue. To examine the factors that might induce such innovation, this study focuses on environmental disclosure and scrutinises how it influences innovation activity. Utilising firm-level panel datasets from EU corporations (fiscal years 2000-08) that were constructed based on the Carbon Disclosure Project data and the EU Industrial R&D Investment Scoreboard, I estimate dynamic panel models using the system GMM estimator. The potential endogeneity issue is addressed in the models. Innovation activity is measured by R&D investment. The results show that corporations that implement a specific environmental disclosure action, namely, disclosing Scope 3 GHGemissions, are more likely to invest in R&D. This study sugg ests that supply chain management is crucial for corporations to enhance their innovation activity. In addition,this study reveals that a policy that stimulates corporate incentives to disclose Scope 3 GHG emissions may be a key to enhancing innovation activity. Since communication between corporations and other stakeholders, which may be enhanced by environmental disclosure , is a significant factor in encouraging corporate innovation activity, it is important to construct a system wherein environmental disclosure is evaluated objectively and corporations with strong environmental performance are adequately rewarded. |
| Keywords: | innovation;Environmental disc losure;Voluntary action;Endog eneity;Climate change |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:kue:epaper:e-16-012&r=tid |
| By: | Wanzenböck, Iris; Piribauer, Philipp |
| Abstract: | In this paper we estimate space-time impacts of the embeddedness in R&D networks on regional knowledge production by means of a dynamic spatial panel data model with non-linear effects for a set of 229 European NUTS-2 regions in the period 1999-2009. Embeddedness refers to the positioning in networks where nodes represent regions that are linked by joint R&D endeavours in European Framework Programmes. We observe positive immediate impacts on regional knowledge production arising from increased embeddedness in EU funded R&D networks, in particular for regions with lower own knowledge endowments. However, long-term impacts of R&D network embeddedness are comparatively small.(authors' abstract) |
| Keywords: | R&D networks; European Framework Programme; regional knowledge production; dynamic spatial panel data model; space-time impacts |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wus005:4652&r=tid |