Young firms and innovation: A microeconometric analysis

Pellegrino, Gabriele; Piva, Mariacristina; Vivarelli, Marco

doi:10.1016/j.strueco.2011.10.003

Cited by 97 publications

(69 citation statements)

References 64 publications

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“…Indeed, as shown in Section 4, innovative ventures exhibit higher survival rates and this is particularly true when process innovation is taken into account: while product innovations may be risky and expose a newborn firm to early failure, process innovations emerge as a safe competitive driver, able to increase the chances of survival (innovation premium). Therefore, both the research investigation and the policy activities should be focused on the circumstances that facilitate the formation of innovative startups and the survival of young innovative firms (see Pellegrino et al, 2012;22 García-Quevedo et al, 2014;Czarnitzki and Delanote 2015). Some of these features are analyzed in detail in Section5.…”

Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

To be born is not enough: the key role of innovative start-ups

2016

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Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

To be born is not enough: the key role of innovative start-ups

2016

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“…R&D is regarded as a firm's strategic decision to boost its competitive advantage in subsequent years, and decision of R&D expenditure levels involve in many different factors [20][21][22][23]. Prior studies search for the determinants that decide firms' R&D expenditure and list up non-linear relationship with size, internal and external organizations of R&D, a firm's financial capabilities, corporate structure, ownership, market structure or environment and others as the factors (e.g., [24][25][26]). …”

Section: Impact Of Related Party Transactions On Randd Investmentmentioning

confidence: 99%

“…They also revealed that market characteristics play a role to distinct the innovation activities of firms in different ages. Testing the link between a firm's in-house and external R&D and the firm's age, Pellegrino et al [26] found that in-house R&D is related to the product innovation in the mature and young firms together; and innovation intensity was related to the external sources only in young firms. Jensen and Meckling [27] has stated that managers tended to avoid high-risk investment, as its ownership was lower, in order to avoid private costs and enhance their personal utilities, while managerial ownership or managerial incentive can act as a determinant when defining R&D expenditure [28].…”

Section: Impact Of Related Party Transactions On Randd Investmentmentioning

confidence: 99%

Does R&D Expenditure with Heavy Related Party Transactions Harm Firm Value?

Kim

Yoo

2017

Sustainability

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Related party transactions (RPTs) are transactions made among affiliated companies in a conglomerate group. Heavy RPT ratio means high level of dependence of a firm on the captive market within a conglomerate group. This may depress the firm's incentive to invest in R&D and the high level of R&D expenditure of a firm with heavy RPT ratio may not be efficiently led to high level of firm performances. Relating these RPTs with firm's R&D expenditures together, we investigate the impact of RPTs on firm's R&D expenditures and the effectiveness of R&D with heavy RPT ratio on firm performances, subject to such transactions made by Korean conglomerate groups for the period 2000 to 2010. Results show that higher RPT ratio is negatively associated with R&D expenditures; and the positive relationship between R&D and firm values are negatively moderated by increase in RPTs. Classifying the types of R&D expenditures into research expenses and development expenses, the results are differentiated between them. Evidencing the impact of RPTs on R&D spending and the subsequent effectiveness on firm values, this study helps the related parties to understand the nature of RPTs and conglomerate groups, related to R&D and firm performances, and to make relevant decisions.

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“…Moreover, disembodied activities, mainly based on R&D, are less frequent and usually show higher requirements for workforce qualifications and a significant correlation with employee educational attainment (Pacelli et al, 1998;Zuniga and Crespi, 2013). Actually, some works have defined TI strategies based on artefact acquisition as technological upgrading rather than innovation activities (Santamaría et al, 2009;Pellegrino et al, 2012). Therefore, the presence of different skills profiles as a part of broad, varied and balanced knowledge bases and different views increases the likelihood of carrying out disembodied TI activities.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Linking workforce diversity in education, technological innovation strategies and firms´ organization

Bello‐Pintado¹,

Bianchi²

2017

Blucher Engineering Proceedings

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Abstract:This paper analyses the relationship between workforce diversity in education and skills and the propensity to engage in technological innovation (TI) activities in in the Uruguayan manufacture industry. We have distinguished between embodied and disembodied TI. Results show a positive and significant relationship between both diversity in education and skills and disembodied TI activities. Moreover, the moderating role of flexible forms of work organization is positive and significant for diversity in education when firms engage in disembodied TI.Keywords: diversity in education; diversity in skills; disembodied technological innovation; work organization JEL codes: O32 M14 L60 Resumo:O artigo analisa a relação entre a diversidade em educação e competências da força de trabalho e a propensão inovadora das empresas na indústria uruguaia de transformação. Com o intuito de identificar diferentes estratégias inovadoras, distingue-se entre inovações incorporadas em bens de capital de aquelas desincorporadas que a empresa desenvolve. Observa-se um efeito de mediação positiva das formas avançadas de organização do trabalho na relação entre diversidade e propensão inovadora, mas somente quando em aquelas empresas que desenvolveram inovações não incorporadas.Palavras chave: diversidade em educação; inovação tecnológica não incorporada, organização do trabalho Código JEL: O32 M14 L60 2

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Young firms and innovation: A microeconometric analysis

Cited by 97 publications

References 64 publications

To be born is not enough: the key role of innovative start-ups

To be born is not enough: the key role of innovative start-ups

Does R&D Expenditure with Heavy Related Party Transactions Harm Firm Value?

Linking workforce diversity in education, technological innovation strategies and firms´ organization

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