|
on Small Business Management |
|
Issue of 2012‒10‒20
four papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Vogel , Alexander (Leuphana University Lueneburg); Wagner, Joachim (Leuphana University Lueneburg and IZA, Bonn) |
| Abstract: | This paper contributes to the literature by providing the first evidence on the link between innovation activities (measured by the share of engineers and scientists in the workforce) and exports of German business services firms based on a large representative longitudinal sample of enterprises. The data combine for the first time information at the firm-level that is taken from data produced by the Statistical Offices and by the Federal Labour Agency. We document that R&D activities are positively linked with exports, and that this link is present when observed firm characteristics (including firm size, productivity, and human capital intensity) and unobserved time-invariant firm characteristics are controlled for. From an economical point of view the effect is, however, rather small. Furthermore, we find some evidence for self-selection of innovative services firms on export markets. We have to admit, however, that the panel is too short, and that the number of firms that start to export and start to perform R&D during the period under investigation is too small, for any convincing attempt to investigate the direction of the causal link between exports and innovation activities. |
| Keywords: | Innovation; export; business services; Germany |
| JEL: | F14 |
| Date: | 2012–10–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0285&r=sbm |
| By: | Erik Fjærli and Diana Iancu (Statistics Norway) |
| Abstract: | Are investments by new firms constrained by access to financing? If so, are the constraints persistent or do firms overcome their financing problems during the first years of operation? We examine the role of capital constraints by estimating the relation between founders’ initial wealth and firm size during the first years of operation. Similar to previous studies, we find a positive impact of entrepreneurs’ wealth prior to start-up on the start-up size of entrepreneurial firms, but this effect decreases during the first five years of operation. We also document a high degree of economic mobility among entrepreneurial firms during the first years of operation. This is primarily driven by a disproportional increase in debt financing among the smallest firms, indicating that capital constraints for entrepreneurs are transitory. |
| Keywords: | Entrepreneurship; borrowing constraints; growth |
| JEL: | L11 |
| Date: | 2012–10 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:707&r=sbm |
| By: | Dimitri UZUNIDIS (Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO); Sophie BOUTILLIER (Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO) |
| Abstract: | La création et l’accumulation de connaissances devient un phénomène de plus en plus collectif dépassant les frontières des économies nationales formant des réseaux de coopération technologique qui se tissent entre firmes. Cette stratégie vise la collecte d'importantes quantités d'informations S&T qui pourront à terme se transformer en innovations. Depuis quelques années, l’expression open innovation s’est imposée, alors que bien avant les formules d’innovation en réseau ou d’innovation collaborative étaient également très rependues. Dans ce document, nous présentons à l’aide de la théorie évolutionniste (qui insiste sur l’accumulation de connaissances comme moyen d’innover et comme origine de transformation des structures de la firme) les déterminants principaux de la globalisation de la R&D des grandes firmes globales et nous discutons de l’ouverture de la frontière de la firme. The creation and accumulation of knowledge is an increasingly collective phenomenon which goes beyond the borders of national economies forming networks that develop technological cooperation between firms. This strategy is the collection of significant amounts of S&T information that will eventually turn into innovations. In recent years, the term "open innovation" has become very popular, even if other formulas like network innovation or collaborative innovation have been also used for a long time. In this paper we present the main determinants of the globalization of R&D and discuss the opening of the border of the firm using evolutionary theory (which emphasizes the accumulation of knowledge as a way to innovate and as the origin of structural transformation of the firm). |
| Keywords: | innovation collaborative, R&D, firme multinationale |
| JEL: | F23 O31 O32 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:255&r=sbm |
| By: | Tariq Fancy (former Principal, CPP Investment Board) |
| Abstract: | Canada’s problem with lagging productivity growth has led policymakers to focus on boosting innovation, in part by supporting Canadian venture capital funding for business. But which types of venture capital (VC) funds are most effective in spurring innovation? This study examines that question in the Canadian context by examining the records of VC funding in generating new patent applications for the period 1996-2008. Overall, Canadian VC funding spurs innovation more effectively on a dollar-for-dollar basis than investment in research and development (R&D). The type of VC fund also matters. Private and institutional VC funds consistently foster innovation; corporate and government VC funds do reasonably well in promoting innovation; but retail, bank and other VC dollars perform poorly on that score. |
| Keywords: | Economic Growth and Innovation, venture capital, Canada |
| JEL: | G24 H2 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:cdh:ebrief:138&r=sbm |