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on Innovation |
| By: | Nick Bloom; Brian Lucking; John Van Reenen |
| Abstract: | This paper revisits the results of Bloom, Schankerman, and Van Reenen (2013) examining the impact of R&D on the performance of US firms, especially through spillovers. We extend their analysis to include an additional 15 years of data through 2015, and update the measures of firms' interactions in technology space and product market space. We show that the magnitude of R&D spillovers appears to have been broadly similar in the second decade of the 21st Century as it was in the mid-1980s. However, there does seem to have been some increase in the wedge between marginal social returns to R&D and marginal private returns with the ratio of marginal social to private returns increasing to a factor of 4 from 3. There is certainly no evidence that the need to subsidize R&D has diminished. Positive spillovers appeared to increase in the 1995-2004 boom. |
| Keywords: | innovation, RD, patents, productivity and spillovers |
| JEL: | O31 O32 O33 F23 |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1548&r=ino |
| By: | Mery Patricia Tamayo; Estefanía Gómez; Elena Huergo |
| Abstract: | The goal of this research is to empirically study the relationship between obstacles perceived by companies to carrying out their innovation activities and their decisions about external sourcing of knowledge through the outsourcing of R&D or technological cooperation. Using information on German and Spanish companies from the year 2010, we obtain that in both countries this association is positive, and that companies that assign greater importance to factors that impede their innovation activities are also more likely to engage in external sourcing of knowledge. This relationship seems to be especially strong in companies that do not engage in internal R&D activities or do so sporadically, while it is much weaker in companies that perform internal R&D continuously. Nonetheless, the importance that companies assign to the market power of established companies as a barrier to innovation is positively associated with technological cooperation especially in continuous R&D performers. |
| Keywords: | Obstacles to innovation, outsourcing, technological cooperation |
| JEL: | L2 O3 O57 |
| Date: | 2018–05–16 |
| URL: | http://d.repec.org/n?u=RePEc:col:000122:016257&r=ino |
| By: | Junbyoung Oh (Department of Economics, Inha University); Wonchang Hur (College of Business Administration, Inha University) |
| Abstract: | Inventing is a recombinant process that involves searching and recombining differ- ent streams of knowledge. The value of invention is associated with not only how many prior inventions are considered, but also how they are related to each other. We introduce social network analysis broadly used in the social capital theory, and extend the dimension of analysis for the evaluation of patent value. This study em- ploys U.S. pharmaceutical patent data and investigates whether the network charac- teristic of backward citations have significant effect on the future patent value. The empirical results suggest that the network features of backward citations measured by cohesion, constraint, and efficiency have statistically significant implication on the value of invention in both level and depreciation rate. The study also provides empirical evidence that the exploration strategy is more significantly and positively correlated with the future value of invention compared to the exploitation strategy of inventors. |
| Keywords: | Patent value, Social network analysis, Network structure of backward citation |
| JEL: | H23 O31 O38 |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:inh:wpaper:2018-3&r=ino |
| By: | Martinez-Noya, Andrea (Faculty of Economics and Business, University of Oviedo); Narula, Rajneesh (Henley Business School, University of Reading) |
| Abstract: | R&D cooperation has become a core aspect of the innovation strategy of R&D-performing organisations over the last three decades. Globalisation has increased the imperative to organise these cross-border, inter-firm agreements efficiently, and this has led to a cross-fertilisation of ideas from a variety of fields, including international business, management, geography and, more recently, psychology. The aim of this paper is to review and synthesise this literature to identify new directions for research. The breadth of the academic discussion has evolved towards a general consensus on governance choice decisions, motives for collaboration, partner selection decisions and performance implications. Despite having achieved some degree of clarity on these issues, the growing complexity and international nature of these alliances requires a multidisciplinary approach, both in relation to the theories to apply, as well as in the type of data needed. |
| Keywords: | R&D alliances, technological cooperation, strategic technology partnering, literature review, research agenda |
| JEL: | O32 L24 |
| Date: | 2018–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2018022&r=ino |
| By: | Antonelli, Cristiano; Feder, Christophe; Quatraro, Francesco (University of Turin) |
| Abstract: | Technological congruence implements the analysis of directed technological change showing how the match between the relative size of outputs’ elasticity and the relative abundance and cost of production factors has powerful effects on total factor productivity (TFP). Smart specialization strategies can rely upon technological congruence to support the introduction and diffusion of new directed technologies characterized by the best mix of factors relative cost -as determined by pecuniary externalities in the regional factor markets- and output elasticity. The evidence of 278 European regions in the years 1980-2011 confirms that the levels and the changes in technological congruence, brought about by the introduction of directed technological changes, have significant effects on the levels and the changes of TFP. The key policy implication is that the optimal S3 policy mix should not only look at the history of local industrial or technological specializations, but it should also take into account the pecuniary externalities that characterize local factor markets to promote technological changes directed to augmenting the output elasticity of the cheaper regional production factors. |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:201805&r=ino |
| By: | Goldstein, Anna P. (Harvard University); Narayanamurti, Venkatesh (Harvard University) |
| Abstract: | The division of "basic" and "applied" research is embedded in federal R&D policy, exemplified by the separation of science and technology in the organizational structure of the US Department of Energy (DOE). In this work, we consider a branch of DOE that shows potential to operate across this boundary: the Advanced Research Projects Agency * Energy (ARPA-E). We construct a novel dataset of nearly 4,000 extramural financial awards given by DOE from 2010 to 2015, primarily to businesses and universities. We collect the early knowledge outputs of these awards from Web of Science and the United States Patent and Trademark Office. Compared to similar awards from other parts of DOE, ARPA-E awards are more likely to jointly produce both a publication and a patent, with at least 5 times higher odds. ARPA-E awards have been productive in creating new technology, without a detrimental effect on the production of new scientific knowledge. This observation suggests the unity of research activities which are often considered separate: that which produces discoveries and that which produces inventions. |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:harjfk:rwp17-046&r=ino |
| By: | Ajayeb Abu Daabes (Emirates college of technology); Azeeza Almenhali (Emirates college of technology); Shaikha Salem (Emirates college of technology); Hamda Alderei (Emirates college of technology) |
| Abstract: | The proposed research shall hereby aim to triangulate the extent of creativity and innovation in workplace. The idea is intriguing and covers a wide range of speculations hence to narrow it down on to a feasible domain of research it is to be understood that the research shall be concentrated on the modern day marketing innovation for the organizations. The intricate materials are to be provided in the research with concrete back up evidence which shall be directed towards formulation of formidable research outcome which in turn helps to coagulate commemorative ways to provide accurate sources which shall manipulate the ideas and enlighten about the extent of innovation. The proposal drafts an introduction to the main research followed by the consolidation of the thesis statement that leads to the hypothesis and hence incorporate the essential hypotheses and theoretical or conceptual frame work which shall be adapted for the main research. The ideas are to be postulated for the methodology for the main research with a proper flow of work as the proposed plan and tentative timeline for the completion of the entire work for the research. The preliminary results are then to be discussed followed by the comprehensive presentation of the research implications. ? |
| Keywords: | innovation, innovative marketing ,employee performance. |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:7508642&r=ino |
| By: | Junbyoung Oh (Inha University); Zhen Lei (Pennsylvania State University); Siwei Cao (Beijing Normal University) |
| Abstract: | This paper investigates firm behaviors on examination request under the deferred patent examination system in Korea. We examine firm decisions on whether and when to request patent examinations when they face both uncertainty about inven- tion¡¯s value and market competition. We find that the examination request in Korea has an interesting bi-polar distribution, and both uncertainty about an invention¡¯s value and market competition have significant impacts on firm¡¯s decision for exam- ination request. Applicants tend to utilize option value of waiting when uncertainty is high, but market competition attenuates the option value: the higher the com- petition, the less likely applicants are to delay or forego examination. Our study extends the empirical literature on deferred examination system but also provides a more comprehensive understanding on the irreversible investment decision under both uncertainty and competition. |
| Keywords: | deferred patent examination system, uncertainty, competition, real options, irreversible investment |
| JEL: | D22 L19 O30 O34 |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:inh:wpaper:2018-2&r=ino |
| By: | Lyasko, Alexander (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | In interfirm strategic alliances that pursue their objectives in complex technological environment, the discrepancy in partners’ absorptive capacity (that is, their ability to discern, digest, recombine and practically apply novel knowledge, ideas and know-how coming from external sources) can seriously hamper the processes of mutual learning and collective knowledge creation. Therefore, partners should learn how to bridge these differences, simultaneously protecting intellectual property rights and valuable knowledge belonging to each participant in strategic collaborative projects. |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:041829&r=ino |
| By: | Hermann Garden; David Winickoff |
| Abstract: | Gene editing aims to modify the genetic sequence at a precise genomic location. Recent breakthroughs in gene editing techniques such as the clustered regularly interspaced short palindromic repeats (CRISPR) system have ushered in a new era for gene editing and health innovation. The purpose of the Expert Meeting (6-7 July 2017, Federal Ministry of Education and Research, Berlin, Germany) was to explore the core scientific, legal, regulatory and societal challenges facing the responsible development and use of gene editing in somatic cells for advanced therapies. Experts noted that the trajectory of gene editing in research and development and the uptake of future therapies in the clinical setting remain unclear due to uncertainties in the scientific, regulatory, and economic landscapes. Many policy issues are also raised in the context of other emerging technologies. Governance must cope with a moving technical frontier and some level of uncertainty around risks and benefits. |
| Date: | 2018–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaaa:2018/12-en&r=ino |
| By: | Hermann Garden; David Winickoff |
| Abstract: | Addressing the effects of population ageing, including the increase in mental illnesses and neurological disorders, remains a top priority for many countries and is reflected at the highest levels of international dialogue. Governments, funders, and companies around the world are making unprecedented investments in brain research and the development of neurotechnologies. Advances in brain science and neurotechnology present major opportunities for health innovation and societal benefits, but also raise difficult questions at the intersection of science, society and economy. This report provides a summary of the main discussion points emerging from the Expert Consultation on “Neurotechnology and Society”, held on 14-15 September 2017, in Washington D.C., United States. Meeting participants acknowledged the increasingly international enterprise of neurotechnological innovation. Recommendations for addressing pressing ethical, legal, social, economic and cultural challenges may be beneficial to ensure responsible advancement of emerging neurotechnologies. Consideration of these issues should span laboratory, clinical, and industry settings. |
| Date: | 2018–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaaa:2018/11-en&r=ino |
| By: | Eduardo Fernando Terán Yépez (University of Almeria) |
| Abstract: | After a long period of "semi-forgetfulness", the academic interest in the entrepreneurship field and in the study of the entrepreneur as an individual has resurfaced in the last two and a half decades. This resurgence is related with the reactivation of small businesses and the emergence of an "entrepreneurial culture". Since Richard Cantillon introduced the term for the first time in 1755, several entrepreneurship theories have been put forward by scholars to explain the entrepreneurial phenomenon. This variety of theories causes that this field have a weak conceptual framework. This research, therefore, has a double purpose. On the one hand it aims to review and summarize the multidisciplinary nature of the different entrepreneurship theories. On the other hand, this paper gives a critical review showing the strengths and weaknesses of these theories. In order to achieve these objectives and understanding that the research of these theories continues to be important for the development of this field, this paper classifies 26 entrepreneurship theories into four Mainstreams (Economic, Psychological, Sociological and Management Entrepreneurship Theories). Then, this work summarizes the main proposals of each entrepreneurship theory. Finally, this research presents some critics and limitations to the entrepreneurship theories in order to present some future research directions.From the above discussions, this research concludes that it is clear that the field of entrepreneurship have some interesting and relevant theories. But taking advantage of the renewal fascination with the study of the entrepreneurship field and the multiplicity of interpretations and alternative approaches that have been developed, it is time to refocus our efforts at integrating the diverse viewpoints and to analyze if there are any common denominators within the diversity of entrepreneurship literature. The value of this investigation can be appreciated from two points of view: (1) it facilitate researchers the integration of diverse perspectives that allow finding any common denominator within the entrepreneurial literature diversity and (2) helps to identify specific gaps within the entrepreneurship field that have not yet been studied and that must be answered. So, this investigation pretends to contribute to the study, research and practice of the entrepreneurship field. |
| Keywords: | Entrepreneurship theories, state of the art, critical review |
| JEL: | L26 M13 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:7508811&r=ino |
| By: | Barnett, William; Hu, Mingzhi; Wang, Xue |
| Abstract: | Impacts on the probability of transition to entrepreneurship in rural China associated with the utilization of information communication technology (ICT) are estimated using longitudinal data from the China Family Panel Studies (CFPS) survey. We identify cell phone ownership and internet use as proxy variables for ICT utilization and find that cell phone ownership and internet use have positive impacts on entrepreneurship. After controlling for observables and time and regional fixed effects, cell phone users (internet users) are 2.0 (6.4) percentage points more likely to engage in entrepreneurship than the others. Considering that the average entrepreneurship rate for rural households is only 9.5% in the sample, the influence of cell phone ownership and internet use are very strong in the economic sense. Our results are robust to unobservable individual characteristics, model misspecification, and reverse causality of entrepreneurship to ICT utilization. Evidence also suggests that social network and information and knowledge acquisition play the mediating roles in the impact of ICT utilization on entrepreneurship. |
| Keywords: | ICT; social network; information acquisition; entrepreneurship |
| JEL: | D10 M51 Q55 |
| Date: | 2018–03–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86479&r=ino |
| By: | Laure-Anne Parpaleix (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Kevin Levillain (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Blanche Segrestin (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2018–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01768986&r=ino |
| By: | Nomaler, Onder (ECIS, TU Eindhoven); Verspagen, Bart (UNU-MERIT, Maastricht University) |
| Abstract: | The current literature on the economic effects of machine learning, robotisation and artificial intelligence suggests that there may be an upcoming wave of substitution of human labour by machines (including software). We take this as a reason to rethink the traditional ways in which technological change has been represented in economic models. In doing so, we contribute to the recent literature on so-called perpetual growth, i.e., growth of per capita income without technological progress. When technology embodied in capital goods are sufficiently advanced, per capita growth becomes possible with a non-progressing state of technology. We present a simple Solow-like growth model that incorporates these ideas. The model predicts a rising wage rate but declining share of wage income in the steady state growth path. We present simulation experiments on several policy options to combat the inequality that results from this, including a universal basic income as well as an option in which workers become owners of "robots". |
| Keywords: | perpetual economic growth, economic effects of robots, income distribution |
| JEL: | O15 O41 O33 E25 P17 |
| Date: | 2018–05–23 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2018023&r=ino |
| By: | Bergman, Peter (Columbia University); Rogers, Todd (Harvard University) |
| Abstract: | We conduct an experiment to understand how enrollment defaults affect the take up and impact of an education technology. We show that a standard and simplified opt-in process induce low take up. Automatically enrolling parents increases adoption significantly and improves student achievement. Our surveys show automatic enrollment is uncommon because its impact is underestimated: District leaders overestimate take-up under the standard condition by 38 percentage points and underestimate take-up under automatic enrollment by 31 percentage points. After learning the actual take-up rates, there is a 140% increase in willingness to pay for the technology when shifting implementation to automatic enrollment. |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:harjfk:rwp17-021&r=ino |
| By: | David Lenz (Justus-Liebig-University Giessen); Peter Winker (Justus-Liebig-University Giessen) |
| Abstract: | Topic modeling became an intensively researched area in economics, mainly due to the ever increasing availability of huge digital text information and the improvements in methods to analyze these datasets. In natural language processing, topic modeling describes a set of methods to extract the latent topics from a collection of documents. Several new methods have recently been proposed to improve the topic generation process. However, examination of the generated topics is still mostly based on unsatisfactory practices, for example by looking only at the list of most frequent words for a topic. Our contribution is threefold: 1) We present a topic modeling approach based on neural embeddings and Gaussian mixture modeling, which is shown to generate coherent and meaningful topics. 2) We propose a novel "topic report" based on dimensionality reduction techniques and model generated document vector features which helps to easily identify topics and significantly reduces the required mental overhead. 3) Lastly, we demonstrate on a technology related newsticker corpus how our approach could be used by economists to tackle economic problems, for example to measure the diffusion of innovations. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201815&r=ino |