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on Project, Program and Portfolio Management |
| By: | Jan Malek; Melissa Newham; Jo Seldeslachts; Reinhilde Veugelers |
| Abstract: | This paper analyzes M&A patterns of R&D projects in the antidiabetics industry. For this purpose, we construct a database with all corporate individual antidiabetics R&D projects over the period 1997 - 2017, and add detailed information on firms’ technology dimension using patent information, next to their position in product markets. This allows us to identify the identity of targets and acquirers (who), the timing of acquisitions along the R&D process (when), and which type of R&D projects changes hands in terms of technology novelty (what). The main results can be summarized as follows. First, most of the action in M&As is in early R&D stages, still far from product markets. Second, most of the early-stage projects that change hands are high-risk/high-gain novel projects. Third, the industry leaders in the product markets are rather inactive in acquiring those novel early-stage projects. The likely acquirers of such projects are small or pipeline firms. Our results put in perspective the narrative that large incumbents acquire small targets with low-risk projects close to product launch. |
| Keywords: | M&As, innovation, R&D, pharmaceutics, technology, novelty, patents |
| JEL: | L41 L65 O31 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp2073&r=ppm |
| By: | Scaini, Anna; Mulligan, Joseph; Berg, Håkan; Brangarí, Albert; Bukachi, Vera; Carenzo, Sebastian; Chau Thi, Da; Courtney-Mustaphi, Colin; Ekblom, Anneli; Fjelde, Hanne; Fridahl, Mathias; Hansson, Anders; Hicks, Lettice; Höjer, Mattias; Juma, Benard; Kain, Jaan-Henrik; Kariuki, Rebecca W.; Kim, Soben; Lane, Paul; Leizeaga, Ainara; Lindborg, Regina; Livsey, John; Lyon, Steve W.; Marchant, Rob; McConville, Jennifer R.; Munishi, Linus; Nilsson, David; Olang, Luke; Olin, Stefan; Olsson, Lennart; Rogers, Peter Msumali; Rousk, Johannes; Sandén, Hans; Sasaki, Nophea; Shoemaker, Anna; Smith, Benjamin; Thai Huynh Phuong, Lan; Varela Varela, Ana; Venkatappa, Manjunatha; Vico, Giulia; Von Uexkull, Nina; Wamsler, Christine; Wondie, Menale; Zapata, Patrick; Zapata Campos, María José; Manzoni, Stefano; Tompsett, Anna |
| Abstract: | Drawing on collective experience from ten collaborative research projects focused on the Global South, we identify three major challenges that impede the translation of research on sustainability and resilience into better-informed choices by individuals and policy-makers that in turn can support transformation to a sustainable future. The three challenges comprise: (i) converting knowledge produced during research projects into successful knowledge application; (ii) scaling up knowledge in time when research projects are short-term and potential impacts are long-term; and (iii) scaling up knowledge across space, from local research sites to larger-scale or even global impact. Some potential pathways for funding agencies to overcome these challenges include providing targeted prolonged funding for dissemination and outreach, and facilitating collaboration and coordination across different sites, research teams, and partner organizations. By systematically documenting these challenges, we hope to pave the way for further innovations in the research cycle. |
| Keywords: | upscaling; climate change adaptation; knowledge co-creation; knowledge transfer; resilience; sustainable development goals; 2016-06359; 2016-06355; 2016-06297; 2016-06300; 2016-06327; 2016-06329; 2016-06334; 2016-06289; 2016-06313; 2016-06389 |
| JEL: | R14 J01 N0 |
| Date: | 2024–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122096&r=ppm |
| By: | Ruben Nicolas; Vitezslav Titl; Fredo Schotanus |
| Abstract: | To stimulate sustainable economic development and a greener economy, the European Commission co-funds public projects through the European Structural and Investment Funds (ESIF), which are among the largest such funds in the world worth approximately 100 billion euros annually. Since 2014, ESIF beneficiaries are incentivized to increase their use of green public procurement (GPP). In this paper, we study to what extent ESIF co-funding affects the uptake of GPP, making use of a rare dataset containing all public tender notices in the Czech Republic (2006-2019). We find a positive effect of ESIF on GPP and suggestive evidence that ESIF co-funding instigates selection behaviour by contracting authorities, that allocate their projects and resources to improve their chances of receiving co-funding. Exploiting two policy changes, we show that the ESIF’s effect on GPP is driven by financial incentives and not by ‘greener’ policy objectives. Finally, we study the effect of gained experience with GPP and find that it only increases contracting authorities’ later uptake of GPP to a limited extent. Mainstreaming of GPP calls for a more systemic approach that covers public procurement as a whole, for instance, by making GPP on a national level less voluntary for ESIF eligibility. |
| Keywords: | Green public procurement, EU, co-funding, climate policy, policy evaluation, sustainable development |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:2310&r=ppm |
| By: | Yoshifumi Konishi (Department of Economics, Keio University); Akari Ono (Graduate School of Economics, Keio University) |
| Abstract: | Economists are increasingly concerned with the heterogeneous impacts of transportation infrastructure investments on economic outcomes, particularly the phenomenon known as the gStraw Effect h: Core cities that were already in economic prosperity may gain more, and peripheral cities may lose, from large transportation projects. We empirically investigate whether such an effect manifests in the case of the Great Seto Bridges in Japan, a 70-billion-dollar project implemented as part of the gBuilding-a-new-Japan h initiative in the 1980s-1990s. We employ the recently developed recentered instrumental variable approach in the difference-in-differences design, exploiting the sharp decline in transport costs and its differential impacts on market access levels across cities of different economic prosperity as exogenous sources of variation. We find that, contrary to the straw effect, large peripheral cities gain more than core cities, rather than lose, from the megaproject. We also demonstrate that the distribution of winners and losers from the megaproject depends on where the associated cost reductions occur in the existing network structures. |
| Keywords: | Market Access, Transportation Investment, Core-Periphery Model, Economic Geography, Quantitative Spatial Model |
| JEL: | O18 R4 R11 R12 |
| Date: | 2024–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:keo:dpaper:2024-003&r=ppm |
| By: | Mikhail Miklyaev (Cambridge Resource International Inc.); Alan S. Wyatt (Cambridge Resources International Inc.); Ridha Drebika (Cambridge Resources International Inc.); Owotomiwa (Christiana) Olubamiro (Cambridge Resources International Inc.); Glenn P. Jenkins (Department of Economics, Queen’s University, Kingston, Ontario, Canada, CARBET, Cyprus International University, Nicosia, North Cyprus, and Cambridge Resource International Inc.) |
| Abstract: | The study delves into the economic valuation of water supply projects, assessing not just traditional cost components but also the broader implications of non-market externalities. By employing contingent valuation, it gauges the public's willingness to pay for investment in the reliability and quality of water services. Furthermore, the approach includes a detailed examination of water supply variability, using statistical methods to model and predict the stability of different water sources. An application of the analytical framework is carried out for Morocco. In this study Modern Portfolio Theory (MPT) is applied to water resource management. It forges a nuanced balance between ensuring a reliable water supply and maintaining economic efficiency in water projects. At a time when water scarcity and climate uncertainty pose complex challenges, the use of the Simulation and Portfolio Optimization Tool (SPOT) developed in this study provides a sophisticated framework for the evaluation and selection of water source portfolios. SPOT equips policymakers with a robust tool for developing water management strategies that are both adaptable to changing environmental conditions and grounded in economic reality. The insights provided by this research contribute to the strategic planning and economic efficiency in the design of water systems, highlighting the critical intersections of cost, reliability, and supply variability. It marks a pragmatic progression in resource management, aiming to align the stewardship of water resources with both environmental sustainability and economic efficiency. |
| Keywords: | water supply projects, contingent valuation, willingness to pay, water service reliability, water service quality, water supply variability, Morocco, Modern Portfolio Theory, water resource management, economic efficiency, water source portfolios, policymaking, strategic planning, resource management, environmental sustainability. |
| Date: | 2024–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:4614&r=ppm |
| By: | Wüstemann, Friedrich; Schröder, Lilli Aline; de Witte, Thomas; Don, Axel; Heidecke, Claudia |
| Abstract: | In der deutschen und europäischen Klimapolitik hat der Humusaufbau und -erhalt in den letzten Jahren immer mehr an Bedeutung gewonnen. In diesem Kontext sollen in dem HumusKlimaNetz Maßnahmen zum Humusaufbau in der Praxis erprobt werden. Um den beteiligten Betrieben mögliche Maßnahmen zur Umsetzung anbieten zu können, ist es entscheidend zu bewerten, welche Maßnahmen wie stark zum Humuserhalt und -aufbau beitragen können und welche sonstigen ackerbaulichen Effekte bzw. Umweltwirkungen die Maßnahmen mit sich bringen. Für den ggf. erforderlichen Kompensationsbedarf ist es notwendig, die Kosten die mit der Umsetzung der Maßnahmen verbunden sind, zu kennen. In diesem Bericht werden die wissenschaftlichen Erkenntnisse zu den genannten Fragen zusammengetragen und auf Basis der Ertragsstatistik regionsspezifische Pauschalen für eine Kompensation von Maßnahmen entwickelt. Somit ist der Projektbericht eine wissenschaftliche Arbeitsgrundlage für die Förderung von Humusmaßnahmen im Rahmen des Modell- und Demonstrationsvorhabens 'HumusKlimaNetz'. |
| Abstract: | In recent years, soil organic carbon sequestration and conservation has become increasingly important in German and European climate politics. In this context, measures to build up humus are to be tested in practice in the HumusKlimaNetz. In order to be able to offer the participating farms possible measures for implementation, it is crucial to evaluate which measures can contribute to humus sequestration and conservation, and which other agronomic and environmental impacts might occur. Moreover, it is necessary to know the costs incurred in implementing the measures in order to determine any compensation requirements. In this report, the scientific findings on the above-mentioned questions are compiled and regional specific flat rates for compensation of measures are developed on the basis of yield statistics. Thus, the project report is a scientific working basis for the promotion of humus measures within the framework of the model and demonstration project "HumusKlimaNetz". |
| Keywords: | Humus, Humusaufbau, Ackerbau, Bodenfruchtbarkeit, Klimaschutz, Klimawirkungen, Kohlenstoffsequestrierung, soil organic carbon, humus formation, arable farming, soil fertility, climate protection, climate effects, carbon sequestration |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:jhtiwp:283598&r=ppm |
| By: | Mitra, Alessio; Niakaros, Konstantinos |
| Abstract: | This paper evaluates the causal impact of the Horizon 2020 Framework Programme for Research and Innovation on financial firm-level outcomes using a Difference-in-Differences (DiD) approach. We use administrative data from CORDA and financial data from ORBIS spanning from 2010 to 2022, for a sample of approximately 40 thousand unique private companies that applied for Horizon 2020 funding. The findings suggest that firms receiving Horizon 2020 grants exhibit an average increase of 20% in employment and about 30% in total assets and revenues, compared to comparable companies in the control group, in the years after receiving their first grant. Positive effects persist even after 2.5 years, which is the average duration of a project in our sample. Companies in the “Information and communication” and “Professional, scientific and technical activities” NACE sectors are driving the results, while other sectors show insignificant effects. |
| Keywords: | Horizon 2020, Difference-in-Differences, European Union, Innovation policy |
| JEL: | G38 L52 O38 D22 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:283906&r=ppm |
| By: | Mr. Emre Balibek; Guy T Anderson; Kieran McDonald |
| Abstract: | To produce timely and accurate debt reports at the central government level, it is essential to have a sound legal, administrative, and operational framework in place for debt data compilation, reconciliation, accounting, monitoring, and reporting. This note focuses on the arrangements for external project-based debt, which present distinctive challenges in debt reporting particularly in low-income and developing countries. The discussion complements existing literature and guidance on debt transparency by focusing on stages prior to the production of debt reports. The note also identifies the links between the management of project loans and other public financial management (PFM) processes, such as public investment management, budget preparation, fiscal and financial reporting. It shows that a comprehensive approach that considers these linkages can improve efficiency and transparency in fiscal and debt management. Although the focus is on the central government’s debt obligations, the ideas can be extended to cover government-guaranteed loans and public sector debt in general. |
| Keywords: | public debt management; public debt transparency; debt reporting; fiscal transparency; external debt; project loans; public investment management; maturity status template; debt transparency; core loan term; IMF Library; loan disbursement advice; Government debt management; Loans; Debt service; Global |
| Date: | 2024–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imftnm:2024/003&r=ppm |