|
on Small Business Management |
|
Issue of 2013‒09‒24
five papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Alessandra Colombelli (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis [UNS] - CNRS : UMR6227); Francesco Quatraro (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université Nice Sophia Antipolis [UNS]) |
| Abstract: | This paper investigates the relationship between the creation of new firms and the properties of the local knowledge bases, like coherence, cognitive distance and variety. By combining the literature on the knowledge spillovers of entrepreneurship and that on the recombinant knowledge approach, we posit that locally available knowledge matters to the entrepreneurial process, but the type of knowledge underlying theses dynamics deserve to be analyzed. The analysis is carried out on 104 Italian NUTS 3 regions observed over the time span 1995-2011. The results show that the complementarity degree of local knowledge is important, while increasing similarity yields negative effects. This suggests that the creation of new firms in Italy is associated to the exploitation of well established technological trajectories grounded on competences accumulated over time, although cognitive proximity is likely to engender lock-in effects and hinder such process. |
| Keywords: | New Firm Formation; Knowledge-Spillovers Theory of Entrepreneurship; Recombinant Knowledge; Knowledge Coherence; Variety; Cognitive Distance; Italy |
| Date: | 2013–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00858989&r=sbm |
| By: | Friedrich Dornbusch (Fraunhofer Institute for Systems and Innovation Research ISI, Competence Center Policy and Regions); Sidonia von Proff (Economic geography and Location Research, Philipps-Universität Marburg); Thomas Brenner (Economic geography and Location Research, Philipps-Universität Marburg) |
| Abstract: | Collaboration over distance is difficult to maintain in innovation projects which require a great deal of regional collaboration. However, patent documents reveal that a number of inventor teams are able to overcome long distances. Earlier literature started to investigate factors, which increase the probability of long-distance innovation co-operation. The paper at hand is restricted to patents with academic participation, but takes a close look at two types of factors in the environment of the inventors: (1) the characteristics of the university that employs the academic inventor(s), and (2) the influence of the regional environment. Research on the impact of these factors is still underdeveloped in the literature. By considering only patents with at least one academic inventor we have a relatively homogeneous subset of patents and can concentrate on the external impacts. We find that a similar research area structure, a high absorptive capacity as well as a high start-up rate foster intra-regional collaboration. More TTO staff and a larger university lead to more long-distance collaboration while the industry orientation of the university does not exert an influence on the distance between inventors. |
| Keywords: | patents, research collaboration, academic patents, collaboration over distance, Germany |
| JEL: | O31 R12 L14 |
| Date: | 2013–09–18 |
| URL: | http://d.repec.org/n?u=RePEc:pum:wpaper:2013-11&r=sbm |
| By: | William R. Kerr |
| Abstract: | High-skilled immigrants are a very important component of U.S. innovation and entrepreneurship. Immigrants account for roughly a quarter of U.S. workers in these fields, and they have a similar contribution in terms of output measures like patents or firm starts. This contribution has been rapidly growing over the last three decades. In terms of quality, the average skilled immigrant appears to be better trained to work in these fields, but conditional on educational attainment of comparable quality to natives. The exception to this is that immigrants have a disproportionate impact among the very highest achievers (e.g., Nobel Prize winners). Studies regarding the impact of immigrants on natives tend to find limited consequences in the short-run, while the results in the long-run are more varied and much less certain. Immigrants in the United States aid business and technology exchanges with their home countries, but the overall effect that the migration has on the home country remains unclear. We know very little about return migration of workers engaged in innovation and entrepreneurship, except that it is rapidly growing in importance. |
| JEL: | F15 F22 J15 J31 J44 L14 L26 O31 O32 O33 |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19377&r=sbm |
| By: | Sophie Pommet (GREDEG CNRS; University of Nice-Sophia Antipolis, France) |
| Abstract: | Using a sample of 212 IPOs, this paper analyzes the impact of venture capital involvement on the survival time of French IPOs. We find that the ability of venture capitalists to improve the survival of companies is related to the duration of their investment. We show that venture capitalists do not create additional value if investment duration is too short while longer duration allows venture capitalists to monitor the firm efficiently. Our paper provides some interesting results that qualify the findings from empirical studies that highlight the absence of a positive effect of this financing on firm performance in France. |
| Keywords: | Venture capital, IPO, survival, France |
| JEL: | G24 G32 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2013-32&r=sbm |
| By: | NGUENA, Christian L. |
| Abstract: | The role of small and medium enterprises (SMEs) in the fight against unemployment and economic activity stimulation is well established. Until today and due to lack of funding, Cameroon suffers of an unsustainable private sector constituted by SMEs at more than 90%; A situation which tends to increase with the advent of financial crisis. The survival of SMEs therefore commands the implementation of an effective funding mechanism, which is the cornerstone of their health and development. With this framework and based on a study we undertaken, this policy brief proposes different actions policy maker can take to solve the problem of funding deficit that suffered Cameroonian SMEs. As resume: • The state should develop and maintain cleansing policy and facilitating SMEs financing mechanisms; • The promoters of SMEs and entrepreneurs should challenge and correct their behavior detrimental to the search for funding; • And finally, the financial institutions should, as the state, facilitating the process of SMEs financing. |
| Keywords: | SMEs, Financial institution, Investment climate, Financial deficit, Asymmetric information. |
| JEL: | G21 G28 M2 |
| Date: | 2013–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49840&r=sbm |