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on Project, Program and Portfolio Management |
| By: | Segarra Blasco, Agustí, 1958-; García Quevedo, José; Teruel, Mercedes |
| Abstract: | Theoretical and empirical approaches have stressed the existence of financial constraints in innovative activities of firms. This paper analyses the role of financial obstacles on the likelihood of abandoning an innovation project. Although a large number of innovation projects are abandoned before their completion, the empirical evidence has focused on the determinants of innovation while failed projects have received little attention. Our analysis differentiates between internal and external barriers on the probability of abandoning a project and we examine whether the effects are different depending on the stage of the innovation process. In the empirical analysis carried out for a panel data of potential innovative Spanish firms for the period 2004-2010, we use a bivariate probit model to take into account the simultaneity of financial constraints and the decision to abandon an innovation project. Our results show that financial constraints most affect the probability of abandoning an innovation project during the concept stage and that low-technological manufacturing and non-KIS service sectors are more sensitive to financial constraints. Keywords: barriers to innovation, failure of innovation projects, financial constraints JEL Classifications: O31, D21 |
| Keywords: | Innovacions tecnològiques, Conducta organitzacional, 33 - Economia, |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/211807&r=ppm |
| By: | Pritchett, Lant (Center for Global Development); Samji, Salimah (Center for International Development, Harvard University); Hammer, Jeffrey (Princeton University) |
| Abstract: | There is an inherent tension between implementing organizations--which have specific objectives and narrow missions and mandates--and executive organizations--which provide resources to multiple implementing organizations. Ministries of finance/planning/budgeting allocate across ministries and projects/programs within ministries, development organizations allocate across sectors (and countries), foundations or philanthropies allocate across programs/grantees. Implementing organizations typically try to do the best they can with the funds they have and attract more resources, while executive organizations have to decide what and who to fund. Monitoring and Evaluation (M&E) has always been an element of the accountability of implementing organizations to their funders. There has been a recent trend towards much greater rigor in evaluations to isolate causal impacts of projects and programs and more 'evidence-based' approaches to accountability and budget allocations. Here we extend the basic idea of rigorous impact evaluation--the use of a valid counterfactual to make judgments about causality--to emphasize that the techniques of impact evaluation can be directly useful to implementing organizations (as opposed to impact evaluation being seen by implementing organizations as only an external threat to their funding). We introduce structured experiential learning (which we add to M&E to get MeE) which allows implementing agencies to actively and rigorously search across alternative project designs using the monitoring data that provides real-time performance information with direct feedback into the decision loops of project design and implementation. Our argument is that within-project variations in design can serve as their own counterfactual and this dramatically reduces the incremental cost of evaluation and increases the direct usefulness of evaluation to implementing agencies. The right combination of M, e, and E provides the right space for innovation and organizational capability building while at the same time providing accountability and an evidence base for funding agencies. |
| JEL: | H43 L30 O20 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:harjfk:rwp13-012&r=ppm |
| By: | Valeria Costantini; Giorgia Sforna |
| Abstract: | This paper contributes to the issue of the uneven distribution of Clean Development Mechanism (CDM) projects among developing countries. By applying a gravity model to a panel dataset at bilateral country level, we find that well-established export flows from developed economies towards developing countries explain a large portion of the geographical distribution of CDM projects. The policy implication we derive is that a sort of lock-in effect in the CDM relationship should be avoided by enhancing the institutional framework in developing countries hosting CDMs as well as by reinforcing compulsory rules for CDM destination toward the least developed economies. On the contrary, if market forces are left free to influence CDM destination, cost effectiveness in abatement efforts is not the driving force influencing the decision on destination market, but other criteria based on private benefits seem to prevail. |
| Keywords: | Kyoto Protocol; Clean Development Mechanism, Export Flows; Gravity Model; Institutional Quality |
| JEL: | F14 F18 Q54 Q56 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0176&r=ppm |
| By: | Monica Andini (Bank of Italy); Guido de Blasio (Bank of Italy) |
| Abstract: | The paper evaluates the effectiveness of a major Italian place-based policy (Contratti di Programma), by means of which the state approves and finances industrial projects proposed by private firms. Using the areas to be exposed to the same policy at a later date as counterfactuals, the study finds little evidence of it having had a positive effect. It estimates a limited impact on plant and employment growth rates, which is confined to a small area (a single municipality) and crowds out the economic growth of the surrounding areas. |
| Keywords: | regional economic activity, location-based policies, program evaluation |
| JEL: | R11 R58 C14 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_915_13&r=ppm |
| By: | Ajay K. Agrawal; Christian Catalini; Avi Goldfarb |
| Abstract: | It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to high levels of risk, uncertainty, and information asymmetry. So, to economists, the recent rise of crowdfunding - raising capital from many people through an online platform - which offers little opportunity for careful due diligence and involves not only friends and family but also many strangers from near and far, is initially startling. On the eve of launching equity-based crowdfunding, a new market for early-stage finance in the U.S., we provide a preliminary exploration of its underlying economics. We highlight the extent to which economic theory, in particular transaction costs, reputation, and market design, can explain the rise of non-equity crowdfunding and offer a framework for speculating on how equity-based crowdfunding may unfold. We conclude by articulating open questions related to how crowdfunding may affect social welfare and the rate and direction of innovation. |
| JEL: | D82 G21 G24 L26 L86 R12 Z11 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19133&r=ppm |
| By: | Koene, B.A.S.; Ansari, S.M. |
| Abstract: | The intersection of entrepreneurship research and institutional theory has begun to attract increasing scholarly attention. While much recent research has studied "institutional entrepreneurs" credited with creating new or transforming existing institutions to support their projects, less attention has been paid to the institutions that constitute the menus from which choices are made, and delineate resources for entrepreneurial or other agentic activities. While models of institutionalization frequently break down the process into different categorical stages, how an evolving context affords changing agentic latitude for actors merits more attention. We study the institutionalization of 'temporary work', a new employment practice led by temporary work organizations, a new organizational form in the Netherlands from the 1960s to 2008. Our account suggests an 'ecological' imagery of institutionalization; rather than entrepreneurs' with predetermined agendas shaping and reshaping institutions, we observed distributed institutional entrepreneurship – entrepreneurs seeking change in concert and in conflict with other interdependent actors simultaneously creating, disrupting and maintaining institutions. By examining how an evolving context influences the role of "actor configurations", whose actions, interactions and counteractions can collectively lead to change, but also unintended outcomes, we highlight the non-teleological nature of institutionalization. Finally, our findings suggest that while the legitimacy of a novel practice grows with increasing institutionalization, legitimacy contests may recur and that increasing institutionalization may provide the backdrop for novel practices to emerge. |
| Keywords: | labor market;institutionalization;change;context;institutional entrepreneurship;institutional work;temporary work;organizational fileds |
| Date: | 2013–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureri:1765040359&r=ppm |
| By: | Monica Beuran (World Bank - Washington District of Columbia (United States)); Marie Castaing Gachassin (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris I - Panthéon-Sorbonne); Gaël Raballand (World Bank - Washington District of Columbia (United States)) |
| Abstract: | As planned large investments in road infrastructure continue to be high on the agenda of many African countries, only few of these countries have actually ammended their investments strategy. In many cases, there seems to be a preference for a status quo that can easily be explained by political economy factors driving the policies in the sector. This paper first presents data on the state of roads in Sub-Saharan Africa (length, density, condition) as well as on investments in the sector over the last decades. It then demonstrates how most countries' strategies are based on some misperceptions and recommends some changes to improve the developmental impact of roads investments. Better prioritization of investments, better procurement and contract management, better projects implementation and better monitoring are still needed, in spite of the efforts observed in the last 10 years. |
| Keywords: | Transport; roads; Sub-Saharan Africa; strategy; infrastructure; procurement |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-00830006&r=ppm |