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on Small Business Management |
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Issue of 2016‒06‒18
seventeen papers chosen by João Carlos Correia Leitão Universidade da Beira Interior |
| By: | Dirk Czarnitzki; Thorsten Doherr; Katrin Hussinger; Paula Schliessler; Andrew A. Toole |
| Abstract: | We use an exogenous change in German Federal law to examine how entrepreneurial support and the ownership of patent rights influence academic entrepreneurship. In 2002, the German Federal Government enacted a major reform called Knowledge Creates Markets that set up new infrastructure to facilitate university-industry technology transfer and shifted the ownership of patent rights from university researchers to their universities. Based on a novel researcher-level panel database that includes a control group not affected by the policy change, we find no evidence that the new infrastructure resulted in an increase in start-up companies by university researchers. The shift in patent rights may have strengthened the relationship between patents on university-discovered inventions and university start-ups; however, it substantially decreased the volume of patents with the largest decrease taking place in faculty-firm patenting relationships. |
| Keywords: | Intellectual property, patents, technology transfer, policy evaluation |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ete:msiper:540553&r=sbm |
| By: | Peters, Bettina (Centre for European Economic Research (ZEW)); Roberts, Mark J. (Pennsylvania State University and NBER); Vuong, Van Anh (University of Cologne and Institute of Energy Economics) |
| Abstract: | This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from its credit rating, which is shown to lead to substantial differences in estimates of the costs and expected long-run benefits from R&D investment. Financially strong firms have a higher probability of generating innovations from their R&D investment, and the innovations have a larger impact on productivity and profits. Averaging across all firms, the long run benefit of investing in R&D equals 6.6 percent of firm value. It ranges from 11.6 percent for firms in a strong financial position to 2.3 percent for firms in a weaker financial position. |
| Keywords: | R&D choice; financial strength; innovation; productivity; dynamic structural model |
| JEL: | G30 O31 O32 |
| Date: | 2016–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0440&r=sbm |
| By: | Shastitko. Andrey (Lomonossov Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Komkova, Anastasia Andreevna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Kurdin, Alexander (National Research University Higher School of Economics, Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The work is dedicated to the identification and study of the relationship between the intensity of competition, market structures, competition policy and innovation activity. Critical analysis of foreign research shows that a universal solution, this problem has not, and the effects of competition policy on innovation in practice depends on a number of specific national and sectoral factors. Impact of innovation activity in respect of competition policy instruments is comprehensive, taking into account their impact on several aspects of the activities of businesses and entrepreneurs' expectations, as well as the availability of related markets. The paper evaluates the effects of the complex. Built in the theoretical model shows that the "inhospitable" attitude antitrust authorities to potentially anti-competitive actions of enterprises can be deterrent to innovative activity, but the rejection of antitrust measures may be harmful to consumers. The best option of competition policy seems favorable attitude towards business initiatives in the case of a likely increase their innovation potential with the simultaneous implementation of compensatory measures or protective active competition policy. |
| Keywords: | intensity of competition, market structures, competition policy, innovation activity |
| Date: | 2016–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:1448&r=sbm |
| By: | Valeria, Gattai; Rajssa, Mechelli; Piergiovanna, Natale; |
| Abstract: | groups of former Soviet states, designated CIS, Developed and Developing. Using Orbis data, we provide within-group and between-group results on the effects of outward FDI (OFDI) and inward FDI (IFDI) on firm-level innovation. As the most notable finding, OFDI firms innovate more than IFDI firms, which in turn innovate more than non-FDI firms. The innovation effect of OFDI is the largest for firms from the Developing economies, followed by the Developed and CIS countries. The innovation effect of IFDI is the largest for firms from the Developing economies, followed by the CIS and Developed countries. FDI to and from Europe have the largest impact on innovation; this holds across country groups. |
| Keywords: | FDI, Premia, Patents, Former Soviet States, Russia, CIS |
| JEL: | F23 L25 O57 |
| Date: | 2016–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:mib:wpaper:340&r=sbm |
| By: | BACIGALUPO MARGHERITA (European Commission – JRC - IPTS); KAMPYLIS PANAGIOTIS (European Commission – JRC - IPTS); PUNIE YVES (European Commission – JRC - IPTS); VAN DEN BRANDE GODELIEVE (European Commission, DG Employment) |
| Abstract: | The development of the entrepreneurial capacity of European citizens and organisations is one of the key policy objectives for the EU and Member States. Ten years ago, the European Commission identified sense of initiative and entrepreneurship as one of the 8 key competences necessary for a knowledge-based society. The EntreComp framework presented in this report proposes a shared definition of entrepreneurship as a competence, with the aim to raise consensus among all stakeholders and to establish a bridge between the worlds of education and work. Developed through a mixed-methods approach, the EntreComp framework is set to become a reference de facto for any initiative aiming to foster entrepreneurial capacity of European citizens. It consists of 3 interrelated and interconnected competence areas: ‘Ideas and opportunities’, ‘Resources’ and ‘Into action’. Each of the areas is made up of 5 competences, which, together, constitute the building blocks of entrepreneurship as a compe-tence. The framework develops the 15 competences along an 8-level progression model and proposes a compre-hensive list of 442 learning outcomes. The framework can be used as a basis for the development of curricula and learning activities fostering entrepreneurship as a competence. Also, it can be used for the definition of parame-ters to assess learners’ and citizens’ entrepreneurial competences. |
| Keywords: | citizen, education, employment, growth, competitiveness |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101581&r=sbm |
| By: | Takashi Obinata (Faculty of Economics, University of Tokyo) |
| Abstract: | This Paper investigates the relationship between the growth in research and development investments (R&Ds) and GDP growth, focusing on the sector of execution. By the vector error correction model (VECM), the result shows that R&Ds by business enterprises do not contribute to GDP growth in Japan. However, the growth in R&Ds by universities gives significant positive effects to both GDP growth and the growth in R&Ds of business enterprises sector. According to the U.S. data, the opposite results are observed. While R&Ds by business enterprises contribute to GDP growth, those of universities have no effects on both GDP growth and the R&Ds by business enterprises. Another Estimation by a Structural Equation Model (SEM) gives the robust results, showing that the growth in R&Ds by universities contributes to GDP growth in Japan. |
| URL: | http://d.repec.org/n?u=RePEc:tky:jseres:2015cj279&r=sbm |
| By: | Aljosa Sestanovic (Effectus - University Collage for Law and Finance) |
| Abstract: | Access to finance is widely recognized as one of the main impediments for growth and development of the small and medium enterprises. This article presents certain aspects of development of stock exchanges oriented towards small and medium-size enterprises. It aims to contribute towards the growing debate on funding of small and medium enterprises through dedicated stock exchanges and serve as a useful contribution to stakeholders to undertake certain steps toward implementation of effective policies for design of exchanges dedicated to financing of small and medium enterprises. |
| Keywords: | tržište Small and medium enterprises, stock exchanges, SME exchanges, alternative markets, multilateral trade facilities (MTFs), Zagreb Stock Exchange |
| JEL: | D53 G15 P34 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:eff:wpaper:0008&r=sbm |
| By: | Lawrence Edwards; Marco Sanfilippo; Asha Sundaram |
| Abstract: | This paper uses firm-level data from company tax declarations to analyse the complementary relationship between direct access to imported intermediate inputs and manufacturing firm performance in South Africa.There are three main findings. The first is on firm heterogeneity, showing that importers consistently demonstrate premiums in terms of productivity, employment, wages, and capital intensity in production compared to firms that do not trade. The second supports the hypothesis of firm learning by importing. Finally, we show that importing also has implications for exporting, especially if inputs are sourced from advanced economies. |
| Keywords: | Business, Delivery of goods, International trade |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2016-039&r=sbm |
| By: | Giovanni Marin (IRCrES-CNR); Francesca Lotti (Bank of Italy) |
| Abstract: | We investigate the productivity effects of eco-innovations at the firm level using a modified version of the CDM model (Crepon et al., 1998). The distinctive nature of environmental innovations, especially as regards the need for government intervention to create market opportunities, is likely to affect the way they are pursued and their effect on productivity. The analysis is based on an unbalanced panel sample of Italian manufacturing firms merged with data on patent applications and balance sheet information. When looking at innovation’s return on productivity , we observe that eco-innovations exhibit a generally lower return relative to other innovations, at least in the short run. This differential effect is more pronounced for polluting firms, which are likely to face higher compliance costs for environmental regulations than other firms. This result holds for both the extensive (probability of patenting) and intensive (patent count) margin. |
| Keywords: | R&D, innovation, productivity, patents, eco-patents. |
| JEL: | L60 Q55 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1067_16&r=sbm |
| By: | Potts, Jason |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235581&r=sbm |
| By: | Tom Martin (Tom Martin & Associates); Giovanni La Placa (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Ireland |
| JEL: | I20 O30 Z18 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101195&r=sbm |
| By: | Radu Gheorghiu (The Institute for World Economy (Bucharest, Romania)); Liviu Andreescu (The University of Bucharest (Bucharest, Romania)); Jana Zifciakova (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Romania |
| JEL: | I20 O30 Z18 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101213&r=sbm |
| By: | Pilar Bernal (University of Zaragoza); Juan P. Maicas (University of Zaragoza); Pilar Vargas (University of La Rioja) |
| Abstract: | Environmental dynamism has recently attracted the attention of scholars studying the relationships between exploration and exploitation strategies and innovation performance. Surprisingly, although extant research has already acknowledged its multidimensional character, it has only been analyzed in an aggregate fashion. In this paper, we distinguish two components of environmental dynamism, the pace of market evolution and the pace of technology evolution, and we elaborate on their different impacts in the context of exploration and exploitation strategies. More precisely, we argue that while a rapid pace of technology evolution has opposite impacts on the relationships between exploration (positive), exploitation (negative) and innovation performance, a rapid pace of market evolution positively affects both exploration and exploitation. Our findings provide substantial support for our prediction using a large panel of Spanish innovating firms for the period 2008-2012. |
| Keywords: | Exploration; Exploitation; Environment; Technology, Market |
| JEL: | O31 O32 O33 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:zar:wpaper:dt2016-03&r=sbm |
| By: | Agnė Paliokaitė (Visionary Analytics UAB (Vilnius, Lithuania)); Pijus Krūminas (Visionary Analytics UAB (Vilnius, Lithuania)); Stamenov Blagoy (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Lithuania |
| JEL: | I20 O30 Z18 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101199&r=sbm |
| By: | Bitard Pierre (Association Nationale de la Recherche et de la Technologie, ANRT); Zacharewicz Thomas (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, France |
| JEL: | I20 O30 Z18 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101848&r=sbm |
| By: | Pietro Moncada-Paternò-Castello (European Commission – JRC - IPTS) |
| Abstract: | Research and development (R&D) indicators are increasingly used not only to facilitate international comparisons, but also as targets for policies stimulating research. An example of such an indicator is R&D intensity. The decomposition method of R&D intensity was conceived with the aim of evaluating aggregate R&D intensity and explaining the differences in R&D intensity between countries. For policy purposes, it is particularly important to determine whether the differences are intrinsic (e.g. due to firms’ underinvestment in R&D) or structural (e.g. due to differences in the sectors that make up an economy). Despite its importance for analytical purposes, the theoretical and methodological framework enabling decomposition of corporate R&D intensity has been elaborated only recently, and it is still not commonly used in the literature. Moreover, examination of the R&D intensity of firms in different industries and at different layers of aggregation leads to mixed results, the reasons for which are not fully understood. This paper aims to review the theoretical and methodological frameworks of corporate R&D intensity decomposition and how it is applied in the literature in order to determine the policy implications of empirical results that at first sight may seem to be contradictory. More specifically, this paper surveys the literature to determine (i) the theoretical framework of determinants of corporate R&D intensity, (ii) the methodologies that have been put in place to decompose corporate R&D intensity and the empirical results reached and (iii) the likely reasons for the contrasting results. Finally, the paper points out the possible policy implications and suggests some potential avenues for future research in this area. |
| Keywords: | corporate R&D intensity gap; decomposition; literature survey; R&D policy. |
| JEL: | O30 O32 O38 O57 F23 R39 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:201602&r=sbm |
| By: | John Huw Edwards (European Commission – JRC - IPTS); Fatime Barbara Hegyi (European Commission – JRC - IPTS) |
| Abstract: | The insight that this booklet provides - thanks to the precious contribution of national and regional authorities - shows that smart specialisation has gone far beyond the mere fulfilment of the ex-ante conditionality criteria linked to Cohesion policy allocations. It has triggered a change in the way innovation-driven regional development policies are dealt with across Europe, confirming the outcome of a number of surveys recently run on this topic. These 'Smart Stories' will drive the reader through the features of smart specialisation as it has been applied in a number of EU countries and regions, with a view to stimulating to further explore the concept and its policy implications, to identify complementarities and potential for mutual learning and collaboration. The period of strategy development has in one sense finished; however, the process of implementing and monitoring S3 will hopefully lead to many more 'Smart Stories' to be shared across all territories of the European Union. |
| Keywords: | innovation, policy, R&D, monitoring, collaboration, competitiveness, education, governance, growth, research, sustainability |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101314&r=sbm |