Innovation, formal vs. informal R&amp;D, and firm size: Some evidence from Italian manufacturing firms

Santarelli, Enrico; Sterlacchini, Alessandro

doi:10.1007/bf00389530

Cited by 183 publications

(101 citation statements)

References 4 publications

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“…Finally, a different management structure (Rothwell 1989) and a less bureaucratic environment (Link and Bozeman 1991) allow a higher responsiveness to innovative opportunities by small firms and new entrants into the industry, through activities that are not at all related to accounted-for formal R&D expenditures. For example, process innovation in small firms is much more related to the ''embodied technological change'' incorporated in the physical capital formation rather than in intangible investment in R&D (Santarelli and Sterlacchini 1990;Conte and Vivarelli 2005;Vaona and Pianta 2008). Hence, official R&D statistics may underestimate innovation in small firms (Kleinknecht 1987;Kleinknecht and Reijnen 1991).…”

Section: The Reference Literaturementioning

confidence: 99%

R&D in SMEs: a paradox?

2009

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Section: The Reference Literaturementioning

confidence: 99%

R&D in SMEs: a paradox?

2009

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“…They use a dataset by the U.S. Small Business Administration consisting of 8,074 innovations introduced in the United States in 1982. Rothwell (1989), Santarelli and Sterlacchini (1990), and van Dijk, den Hertog, Menkveld, and Thurik (1997) provide similar results for the UK, Italy, and the Netherlands, respectively.…”

Section: Introductionmentioning

confidence: 77%

Acquisitions in a Patent Contest Model with Large and Small Firms

Kleer

2009

J Ind Compet Trade

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Big companies and small innovation factories possess different advantages in a patent contest. While large firms typically have better access to product markets, small firms often have a superior R&D efficiency. These distinct advantages immediately lead to the question of cooperations between firms. In this paper, we model a patent contest with heterogeneous firms. In a pre-contest acquisition game large firms bid sequentially for small firms to combine respective advantages. Sequential bidding allows the first large firms to bid strategically to induce a reaction of its competitor. For high efficiencies both large firms prefer to acquire immediately leading to a symmetric market structure. For low efficiencies strategic waiting of the first large firm leads to an asymmetric market structure even though the initial situation is symmetric. Furthermore, acquisitions increase the chances for a successful innovation.

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“…Piergiovanni and Santarelli (2013) also support the idea that capital expenditures-taken as equivalent to technical change embodied in new machinery and capital equipment 1 -play a crucial role in the development of new patentable items by firms in hightech industries. Whereas large firms show an overwhelming importance in innovation because of their ability to spread the fixed costs of R&D over a large sales volume and of their potential to undertake more innovation projects of the same magnitude (Van Dijk et al, 1997), SMEs rely successfully on the external or "used" R&D embodied in intermediate and capital goods (Santarelli and Sterlacchini, 1990). In this sense, R&D and capital expenditures are complementary forces and determinants in the overall innovation process in SMEs.…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Young innovative companies: Are they high performers in transition economies? Evidence for Vietnam

Santarelli

Tran

2016

J Technol Transf

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We study the economic value of both embodied technological change and Research and Development (R&D) investment as proxies for the inputs of innovative activities conducted by Vietnamese firms. Our main focus is on the profitability of young innovative companies (YICs), private innovative companies (PICs), and small and young companies (SYCs). In particular, we test whether YICs could prove successful in fostering economic development through their technological change activities. Results show that a) although YICs are more R&D intensive and innovative than PICs and SYCs, in general they do not produce equivalent performance; however those specific YICs focusing on technological change potentially outperform their counterparts, and b) PICs are more capable than the other types of firms in translating their innovative effort to higher profitability.

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Innovation, formal vs. informal R&D, and firm size: Some evidence from Italian manufacturing firms

Cited by 183 publications

References 4 publications

R&D in SMEs: a paradox?

R&D in SMEs: a paradox?

Acquisitions in a Patent Contest Model with Large and Small Firms

Young innovative companies: Are they high performers in transition economies? Evidence for Vietnam

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