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on Small Business Management |
| By: | Mauricio Camargo (ERPI - Equipe de Recherche sur les Processus Innovatifs - UL - Université de Lorraine); Laure Morel (ERPI - Equipe de Recherche sur les Processus Innovatifs - UL - Université de Lorraine); Pascal Lhoste (ERPI - Equipe de Recherche sur les Processus Innovatifs - UL - Université de Lorraine) |
| Abstract: | Regarding SMEs' relationship with R&D and technology, university technology transfer (UTT) programs have evolved in recent years toward approaches that are more focused on a systemic and continuous exchange between firms, university departments, and R&D centers. Financial support such as innovation vouchers and open initiatives has been applied for a few years, and only recently have research works analyzed the impacts of these programs on the innovative capabilities of SMEs. Existing studies are based on short-term analysis, but there are no studies on the medium- or long-term influence of innovation vouchers on firms' innovation capabilities. This chapter aims to contribute to this topic through a longitudinal exploratory study of two SMEs in eastern France. It puts forward an original modular program proposed by an engineering school at the University of Lorraine, where groups of students participate throughout the academic year in innovation-related projects. Empirical evidence shows that this type of project has positive impacts on firms' innovative capabilities, but also fosters the analytical skills and self-directed learning capabilities of students. |
| Keywords: | UTT,SMEs Innovation capabilities,Open innovation,Innovation vouchers,Problem-based learning |
| Date: | 2021–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03140931&r= |
| By: | Rhoden, Imke; Weller, Daniel; Voit, Ann-Katrin |
| Abstract: | We apply a functional data approach for mixture model-based multivariate innovation clustering to identify different regional innovation portfolios in Europe. Innovation concentration is considered as pattern of specialization among innovation types. We examine patent registration data and combine them with other innovation and economic data across 225 regions, 13 years and 8 patent classes. This allows us to identify innovation clusters that are supported by several innovation- and economy-related variables. We are able to form several regional clusters according to their specific innovation types. The regional innovation cluster solutions for IPC classes for 'fixed constructions' and 'mechanical engineering' are very comparable, and relatively less comparable for 'chemistry and metallurgy'. The clusters for innovations in 'physics' and 'chemistry and metallurgy' are similar; innovations in 'electricity' and 'physics' show similar temporal dynamics. For all other innovation types, the regional clustering is different and innovation concentrations in the respective regions are unique within clusters. By taking regional profiles, strengths and developments into account, options for improved efficiency of location-based regional innovation policy in order to promote tailored and efficient innovation-promoting programs can be derived. |
| Keywords: | Functional Data Analysis (FDA),innovation concentration,spatio-temporal cluster modeling,multivariate cluster analysis,European innovation,cluster algorithm |
| JEL: | O33 R12 C38 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:926&r= |
| By: | Andrea Bellucci (University of Insubria); Serena Fatica; Aliki Georgakaki; Gianluca Gucciardi (UniCredit Bank); Simon Letout; Francesco Pasimeni (IRENA – International Renewable Energy Agency) |
| Abstract: | This paper explores the role of green innovation in attracting venture capital (VC) financing. We use a unique dataset that matches information on VC transactions, companies' balance sheet variables and data on patented innovation at the firm level over the period 2008-2017. Taking advance of a novel granular definition of green innovative activities that tracks patents at the firm level, we show that green innovators are more likely to receive VC funding than firms without green patents. Likewise, a larger share of green vs. non-green patents in a firm's portfolio increases the probability of receiving VC finance. Robustness checks and extensions tackling several dimensions of heterogeneity corroborate the view that green patenting is an important driver of VC funding. |
| Keywords: | Venture capital, Green ventures, Patents, Green technology |
| JEL: | G24 M13 M21 O35 Q55 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:anc:wmofir:171&r= |
| By: | Basant, Rakesh; Jaiswal, Neha |
| Abstract: | Based on the literature, the paper identifies processes that get initiated post an M&A event and affect the acquiring firm’s innovation efforts. We apply panel fixed effects estimation techniques to analyze the individual impact of mergers and acquisitions on R&D intensity of acquiring firms using data for 217 publically listed Indian pharmaceutical firms (both acquirers and non-acquirers) during 1999-2018. The study finds that acquisitions rather than mergers provide impetus to R&D in the acquiring firms. This suggests that these two combinations – mergers and acquisitions - do not unleash the same type of innovation activity related processes in the acquiring firm. Results also show that when mergers or acquisitions are combined with purchase of assets, they have a positive impact on R&D intensity. Purchase of assets when combined with M&A seem to provide access to relevant complementary assets that makes R&D activity profitable for the acquirer post the merger or acquisition event. Possibly, firms view purchase of assets as a strategy that is complementary to M&A strategies for enhancing innovation. The paper shows that impact of M&A on R&D takes time and it is useful to analyze the impact of mergers and acquisitions separately, rather than combining the two together. |
| Date: | 2022–01–25 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:14670&r= |
| By: | Lee, Jun Yeong (Iowa State University); Winters, John V. (Iowa State University) |
| Abstract: | Immigrant entrepreneurs are critical to regional and national economies. Immigrants in the USA have higher self-employment rates than natives, and immigrants have made outsized contributions as founders of numerous highly successful firms. However, we document that immigrant self-employment rates vary considerably across areas of the USA. Our main measure is the percentage of immigrant workers in an area who are self-employed; i.e., the self- employment rate for the foreign-born. Areas with colder winter temperatures have especially low self-employment rates among their immigrant populations compared to other areas of the USA. This relationship holds for numerous sub-samples of immigrants and is not driven by any particular group. The relationship persists after controlling for numerous individual and local area characteristics. Immigrant entrepreneurs appear to be especially forward-looking and responsive to warmer January temperature as a locational amenity. The results have important implications about the location choices of immigrant entrepreneurs. |
| Keywords: | self-employment, entrepreneurship, immigrants, amenities, temperature |
| JEL: | J61 L26 R23 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14941&r= |
| By: | Tijl Hendrich (CPB Netherlands Bureau for Economic Policy Analysis); Jennifer Olsen (CPB Netherlands Bureau for Economic Policy Analysis); Judith Bayer |
| Abstract: | If new businesses and establishments are more closely related to economic activities taking place in a region, is this associated with higher regional growth a few years later? In this paper, we investigate the relationship between this 'relatedness' of newcomers and growth in employment and labor productivity in Dutch regions. While we find a positive correlation with regional employment growth, its economic magnitude is small. It is known that new companies can stimulate growth through creative destruction: they push existing less productive companies out of the market or force them to produce more efficiently. New companies can also create knowledge spillovers by introducing new ideas or techniques that disseminate on a local scale. The current research examines these two aspects in conjunction. We consider two industries to be related when their employees possess similar skills. It will then be easier for employees to switch jobs and transfer knowledge between these two sectors. |
| JEL: | L26 M13 O18 R11 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:cpb:discus:433&r= |
| By: | Christopher F. Baum; Arash Kordestani; Dorothea Schäfer; Andreas Stephan |
| Abstract: | We examine whether the financial strength of companies, in particular, small and medium-sized enterprises (SMEs) is causally linked to the award of a public procurement contract (PP), especially in the environmentally friendly “green” area (GPP). For this purpose, we build a combined procurement company data set from the Tenders Electronic Daily (TED) and the SME database AMADEUS, which includes ten European countries. First, we apply probit models to investigate whether the probability of winning the public tender depends on the company's financial strength. We then use the Flexpanel DiD approach to investigate the question of whether the award has an impact on the future financial strength of the successful company. On the one hand, we find that a lower equity ratio and a higher short-term debt ratio increase the probability of being successful in a public tender. On the other hand, the success means that the companies can continue to work after the award with a lower equity ratio than comparable companies without an award, regardless of whether the company was successful in a traditional or a “green” public tender. We conclude from this that the success in a PP is a substitute for one's own financial strength and thus facilitates access to external financing. The estimation results differ depending on whether public procurement in general or the sub-group of “green” public procurement is examined. |
| Keywords: | Sustainable Finance, Public Procurement, Green Public Procurement, Small and Medium-sized Companies, Innovation, Financial constraints |
| JEL: | G30 Q56 Q01 O16 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1984&r= |
| By: | Orsatti, Gianluca; Quatraro,Francesco; Scandura, Alessandra (University of Turin) |
| Abstract: | This paper studies the entry of regions in new green technological specializations, specifically investigating the role of local recombinant capabilities and the involvement of academic inventors in patenting activities, as well as the interplay between the two. We test our hypotheses on a dataset of Italian NUTS 3 regions over the period 1998-2009. The results show that both recombinant capabilities and the presence of academic inventors are positively associated to new entries in green technological specializations, and that their interaction provides a compensatory mechanism in regions lacking adequate novel combinatorial capabilities. The findings of this work are relevant for policy makers involved in the elaboration of successful regional specialization strategies in green technological domains. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:202119&r= |
| By: | Dohse, Dirk; Goel, Rajeev K.; Göktepe‐Hultén, Devrim |
| Abstract: | Based on information from a large sample of German researchers and using business ownership and nascent entrepreneurship as alternative indicators of academic entrepreneurship, we use mediation analysis to analyze the direct effects of researchers' entrepreneurship attitudes, age, gender, and citizenship as well as the related indirect influences. Industrial cooperation, industry consulting, and patenting are used as alternative mediator variables. Focusing first on the overall drivers of academic entrepreneurship, the results show differences in the drivers of business ownership and nascent entrepreneurship. With regard to age, we find positive and significant indirect effects; they are negative for females; and positive for German citizens. The identification of direct and indirect channels of influence on academic entrepreneurship is the main contribution of this work. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:241999&r= |
| By: | Alessandri, Enrico (Bocconi University, Milan, and University of Urbino Carlo Bo, Urbino) |
| Abstract: | This paper uses patent citation networks to study technological change in the mining industry between 1970 and 2015. The analysis is undertaken at both the aggregate level by jointly considering all mining-related technological fields, and at the micro-level of patents in nine sub-fields, representing specific technological "sub-trajectories". Consistent with previous literature focused on other technological domains, we find that innovation patterns in the mining sector are "technology bounded", i.e. largely shaped by patenting activities carried out in a very limited range of mining technological fields, even though we detect a shift from exploration to environmental mining technologies (emergence of a new technological paradigm). In addition, we examine two aspects of technical change that have been largely disregarded in extant research: the geographical patterns of inventive activities and the role of key applicants in such patterns. We show that core mining patents and leading inventors involved originate almost exclusively from the US, so that trajectories appear to be heavily "geographically bounded", revealing that developing resource-abundant countries lag behind the technological frontier in mining. Moreover, only a few applicant firms are responsible for most inventive activities reflecting a highly concentrated oligopolistic structure, hence characterising trajectories as "applicant bounded". Similar results are observed at the level of sub-trajectories, although with some relevant exceptions, hence suggesting that a substantial heterogeneity exists within the industry and across mining-related technologies. |
| Keywords: | Technological trajectories, Technological sub-trajectories, Mining technologies, Geography of innovation, Patents, International technological frontier |
| JEL: | O31 L72 F23 R11 |
| Date: | 2021–12–08 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2021048&r= |