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on Technology and Industrial Dynamics |
| By: | Jing-Yuan Chio (IMT Lucca Institute for Advanced Studies); Laura Magazzini (Department of Economics, University of Verona); Fabio Pammolli (IMT Lucca Institute for Advanced Studies and CERM Foundation; IMT Lucca Institute for Advanced Studies and Department of Managerial Economics, Strategy and Innovation, K.U. Leuven) |
| Abstract: | We build a cumulative innovation model in which both success and failure provide valuable information for future research. To test this learning mechanism, we use a dataset covering outcomes of world-wide R&D projects in the pharmaceutical industry, and proxy knowledge flows with forward citations received by patents associated with each project. Empirical results confirm theoretical predictions that patents associated with successfully completed projects (i.e., leading to drug launch on the market) receive more citations than those associated to failed (terminated) projects, which in turn are cited more often than patents lacking clinical or preclinical information. We therefore offer evidence of the value of failures as research inputs in (pharmaceutical) innovation |
| Keywords: | R&D competition, patent policy, pharmaceutical industry |
| JEL: | D23 D83 O3 |
| Date: | 2011–12 |
| URL: | http://d.repec.org/n?u=RePEc:ial:wpaper:1&r=tid |
| By: | Guy Parmentier (ESC Chambéry - GROUPE ESC Chambéry, IREGE - Institut de Recherche en Gestion et en Economie - Université de Savoie); Vincent Mangematin (MTS - Management Technologique et Strategique - Grenoble Ecole de Management) |
| Abstract: | The aim of the paper is to characterize innovation with user communities and to explore managerial implications for creative industries. Based on four case studies, we explore the interrelations between the firm and user communities. The digitalization and virtualization of interactions change the ways in which the boundaries between the firm and its user community are defined. User communities are actively developing new products, new services. Definitions of value differ for firms and users. Users are valuating the possibility to be creative, to transform individual creativity into products while firms are making money with innovation. Finally, innovation with user communities may modify the respective identities of firms and communities. |
| Keywords: | innovation; community; lead user; innovation with communities; boundaries; identity |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:hal:gemwpa:hal-00658535&r=tid |
| By: | Ghafele , Roya; Gibert, Benjamin |
| Abstract: | Current mechanisms to compensate inventors and improve legal access to their inventions remain ineffective. Manufacturers encounter significant transaction costs in the process of licensing the multitude of patent rights implicated in their products. High-technology product manufacturing requires access to a diverse pool of technologies that are owned by different organizations all over the world. The transaction costs of licensing these disparate rights are inhibiting unlicensed manufacturers in emerging economies from entering important markets and simultaneously limiting the revenue patent owners can generate from non-exclusive licenses. As communications technologies improve, innovative licensing mechanisms are emerging that can help firms avoid many of these transaction costs. Search and information costs, bargaining and decision costs, enforcement costs and adjustment costs all limit the value generated from licensing transactions. These costs are particularly severe for smaller firms that lack complementary assets to develop their products, lack experience with licensing and do not have large human and financial resources to invest in negotiation outcomes. The transaction costs of licensed manufacturing increase exponentially when having to license multiple rights among disparate rightsholders in a global market. By identifying, grouping, and valuing different rights into a single license, PatentBooks, an illustration of an electronic patent licensing platform, reduces search and information transaction costs. Firms instantaneously identify appropriate license rights from all over the globe without investing considerable resources in hundreds of discrete negotiations. Patent owners are able to generate greater non-exclusive licensing revenue from manufacturers than they could by licensing their rights in isolation. In doing so, they permit firms of all sizes and nationalities to generate more returns from technology and accelerate innovation by facilitating access to valuable inventions. |
| Keywords: | Transaction cost economics; patent Licensing; patent archives; electronic trading platforms |
| JEL: | O34 O32 M21 |
| Date: | 2011–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:36010&r=tid |
| By: | Esther Goya (Faculty of Economics, University of Barcelona); Esther Vayá (Faculty of Economics, University of Barcelona); Jordi Suriñach (Faculty of Economics, University of Barcelona) |
| Abstract: | This article analyses the impact that innovation expenditure and intrasectoral and intersectoral externalities have on productivity in Spanish firms. While there is an extensive literature analysing the relationship between innovation and productivity, in this particular area there are far fewer studies that examine the importance of sectoral externalities, especially with the focus on Spain. One novelty of the study, which covers the industrial and service sectors, is that we also consider jointly the technology level of the sector in which the firm operates and the firm size. The database used is the Technological Innovation Panel (PITEC), which includes 12,813 firms for the year 2008 and has been little used in this type of study. The estimation method used is Iteratively Reweighted Least Squares method (IRLS), which is very useful for obtaining robust estimations in the presence of outliers. The results confirm that innovation has a positive effect on productivity, especially in high-tech and large firms. The impact of externalities is more heterogeneous because, while intrasectoral externalities have a positive and significant effect, especially in low-tech firms independently of size, intersectoral externalities have a more ambiguous effect, being clearly significant for advanced industries in which size has a positive effect.. |
| Keywords: | Productivity, innovation, sectoral externalities, firm size. JEL classification:D24, O33 |
| Date: | 2011–12 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:201126&r=tid |
| By: | Estrada, Fernando |
| Abstract: | There is now considerable evidence on the value of using external resources to promote the development of innovative technologies. Furthermore, the ability to experience innovations in business by external links that may help to avoid risk, improve the quality of natural products, which means qualifying business activities and promote companies capable of rationalizing and projecting high yields. This paper provides an approach from the transaction cost theory of Ronald Coase, in particular, provides preconditions to estimate the specific market of biotechnology. |
| Keywords: | Coase theorem; Transactions costs; Biotechnology; Ronald Coase; Innovation; Fiancial Markets |
| JEL: | D03 B0 B21 B2 D82 D43 B41 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:35875&r=tid |
| By: | Abraham Garcia (JRC-IPTS) |
| Abstract: | The effect of the EU Research Framework Programme (FP) on European company innovation performance is analysed for the period 1998-2000. The possibility of applying for the grant might make companies engage in new projects which they would not have considered if the fund was not there. In addition, the FP programme increases collaboration with other innovation agents (e.g., universities, research labs, governments and other firms). Both the existence of FP and collaboration are simultaneously modelled when innovation performance is studied. To measure innovation performance, an input indicator (level of R&D expenditure) is used in combination with an output indicator (increase in the innovation sales). Following Crepon et al. (1998) a simultaneous equations system is used with four equations (FP, collaboration, R&D and Innovation sales). The paper finds a positive impact for the FP on collaboration, and both factors positively affect the innovation performance (R&D and Innovation sales) of European firms. No crowding-out effect is found in the analysis. |
| Keywords: | Funding, Framework Programme, R&D investment, CIS, CDM model |
| Date: | 2011–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:201107&r=tid |