SMEs in a globalised world:survival and growth strategies on Europe's geographical periphery

This insightful book shows how small and medium enterprises (SMEs) from some of the traditionally less dynamic peripheral economies of the 'old' EU - namely Ireland, Italy, Portugal and Spain - have responded to the twin challenges of globalisation and industrial restructuring. Through a series of unique case studies the contributing authors discuss how these economies, and in particular the SME sector, can be transformed. The book begins by examining the key drivers of the globally competitive SME sector in the EU, before moving on to explore the relationship between multinational enterprises (MNEs), SMEs and industrial development. The authors investigate important policy implications and provide lessons for SME development and growth. With empirical and theoretical contributions on SMEs in both the manufacturing and the services sectors, this essential book will be invaluable for researchers and policymakers in small business economics and management. Postgraduate students of entrepreneurship, business economics, industrial economics and European studies will appreciate this unique set of insights.

Innovation, productivity and growth in US business services:a firm-level analysis

This paper examines the impact of innovation on the performance of US business service firms. We distinguish between different levels of innovation (new-to-market and new-to-firm) in our analysis, and allow explicitly for sample selection issues. Reflecting the literature, which highlights the importance of external interaction in service innovation, we pay particular attention to the role of external innovation linkages and their effect on business performance. We find that the presence of service innovation and its extent has a consistently positive effect on growth, but no effect on productivity. There is evidence that the growth effect of innovation can be attributed, at least in part, to the external linkages maintained by innovators in the process of innovation. External linkages have an overwhelmingly positive effect on (innovator) firm performance, regardless of whether innovation is measured as a discrete or continuous variable, and regardless of the level of innovation considered.

Governance regimes, corruption and growth: theory and evidence

We study the role of political accountability as a determinant of corruption and economic growth. Our model identifies two governance regimes defined by the quality of political institutions and shows that the relationship between corruption and growth is regime specific. We use a threshold model to estimate the impact of corruption on growth where corruption is treated as an endogenous variable. We find two governance regimes, conditional on the quality of political institutions. In the regime with high quality political institutions, corruption has a substantial negative impact on growth. In the regime with low quality institutions, corruption has no impact on growth.

Development and growth of the lichen Rhizocarpon geographicum

The development of new areolae on the marginal hypothallus of the lichen Rhizocarpon geographicum (L.) DC was studied after complete or partial removal of the central areolae. New areolae developed slowly on the isolated hypothalli over two years. Development was similar when the areolae were completely removed and when the central areolae were separated from the marginal hypothallus by ‘moats’ 2 to 5 mm in width. However, in intact thalli, the marginal areolae developed rapidly during Jan. – June 1986 but showed periods of retreat from the margin during Oct. - Dec. 1985 and July – Sept. 1986. These results suggested that primary areolae may develop from free-living algal cells trapped by the hypothallus while secondary areolae may develop from zoospores produced by the thallus. Complete removal of the areolae resulted in no measurable radial growth of the marginal hypothallus over 18 months. Removal of the central areolae to within 1 and 2 mm of the hypothallus significantly reduced growth. These results suggest that the areolae may supply the hypothallus with carbon for growth. When the marginal hypothallus was experimentally removed a new hypothallus developed within one year. Regeneration occurred initially by retreat of the marginal areolae and later by new hyphal growth. The concentration of ribitol, arabitol and mannitol was measured in the areolae and marginal hypothallus on four occasions in 1985/6 in a population growing on a steep south facing rock surface. The three carbohydrates were present in significantly higher concentration in the areolae than in the hypothallus. Hence, the slow growth of this species may result from inhibited transport of carbohydrate from areolae to hypothallus.

FDI, trade and growth, a causal link?

. FDI, Trade and Growth, a Causal Link? (RP0710) Prof Nigel DRIFFIELD Dr Rakesh BISSOONDEEAL Mayang Pramadhani Non-technical Summary This paper explores the relationship between imports, exports, foreign direct investment and growth. For some time there has been a good deal of debate whether trade and foreign direct investment) FDI are substitutes and complements, with the existing literature generating some rather contradictory findings. We show, for Indonesia that inward FDI and both imports and exports are complementary, and further that FDI causes an increase in trade. This is of particular interest for a country such as Indonesia, that has attracted a high proportion of export-orientated inward investment. This, theoretically at least is associated with an increase in imports, in the form of capital goods and components, but a reduction in imports. We show that the previous literature that fails to find such a relationship does so because both trade and FDI are associated with growth, and previous work ignores these growth effects when seeking to isolate the relationship between trade and FDI.

Seasonal growth and growth rate-colony size relationships in six species of saxicolous lichens

The pattern of seasonal growth and the relation of growth rate to colony size were studied in four foliose and two crustose species of saxicolous lichens. A new method of measuring growth was used whereby the advance of a sample of lobes along millimetres marked on the substrate was measured under a magnification of x10. Three peaks of growth were found(in March, June and November) for the foliose species and a single peak (in May to August) for the crustose species. THe peaks of growth corresponded approximately to peaks of rainfall. Growth rate in relation to increasing colony size fell in a smooth exponential curve when expressed on a cm squared/ cm squared/ unit time basis. The result is consistent with a linear radial rate for most of the thallus sizes for the six species. There is also evidence for an exponential incresae in growth rate initially until about 1.5 cm thallus diameter in two of the sepcies when the linear radial rate is achieved.

Glycogen, the preferred energy source for extracellular protein formation and growth of Aeromonas salmonicida

A study was made of the effect of supplementing a rich 3% (w/v) tryptone soya broth (TSB) medium and a poorer 1.7% (w/v) tryptone-based medium with glucose, maltose and glycogen, as carbon sources, on growth and exoprotein formation by Aeromonas salmonicida. In TSB, glucose inhibited growth and repressed exoprotein formation whilst maltose and glycogen had little effect, up to 20 h, when compared with an unsupplemented control. By contrast, in the poorer medium, over a 24-h incubation period, growth was stimulated three-fold by glycogen, and whilst exoprotein formation was low in comparison with that observed in TSB, the greatest production was observed in the presence of glycogen. Extracellular alpha-amylase was measured in the tryptone medium in the presence of the three carbon sources and the highest level, produced in the presence of glycogen, was 1.6 times that with added maltose whilst none was detectable with glucose present. This pattern was repeated in the case of the maltose-inducible porin, LamB, of the outer membrane.

An assessment of factors affecting performance and growth of new technology based firms in the UK

New Technology Based Firms (NTBF) are considered to be important for the economic development of a country in regards to both employment growth and innovative activity. The latter is believed to contribute significantly to the increase in productivity and therefore the competitiveness of UK’s economy. This study contributes to the above literature by investigating two of the factors believed to limit the growth of such firms in the UK. The first concerns the existence of a ‘knowledge gap’ while the second the existence of a ‘financial gap’. These themes are developed along three main research lines. Firstly, based upon the human capital theory initially proposed by Backer (1964) new evidence is provided on the human capital characteristics (experience and education) of the current UK NTBF entrepreneurs. Secondly, the causal relationship between general and specific human capital (as well as their interactions) upon the company performance and growth is investigated via its traditional direct effect as well as via its indirect effect upon the access to external finance. Finally, more light is shed on the financial structure and the type of financial constraints that high-tech firms face at start-up. In particular, whether a financial gap exists is explored by distinguishing between the demand and the supply of external finance as well as by type of external source of financing. The empirical testing of the various research hypotheses has been obtained by carrying out an original survey of new technology based firms defined as independent companies, established in the past 25 years in R&D intensive sectors. The resulting dataset contains information for 412 companies on a number of general company characteristics and the characteristics of their entrepreneurs in 2004. Policy and practical implications for future and current entrepreneurs and also providers of external finance are provided.

The effects of substrate water availability on the isolation and growth of fungi

The work reported in this thesis was carried out to contribute to the knowledge of the effects of substrate water availability or water activity (a ) on fungal growth parameters and its implications in the preparationw of materials susceptible to biodeterioration. Fungi were isolated from soils of different ecological sites at a range of substrate aw levels controlled by sodium chloride (NaCl). Three groups of fungi were isolated : firstly, those isolated only at high a (aw about 0.997).secondly, those isolated at high and decreasing aw (aw 0.997 to 0.85) and finally, those isolated at only decreased aw (aw O.95 to 0.80). From these isolations, test fungi were selected to study the effects of pH, temperature, exo-enzyme production and biocide efficacy at decreased aw levels, with glycerol and NaCl as a controlling solutes. The linear extension rates of the fungi increased at all test pH values near optimum a of growth. Test fungi of the Aspergillus glaucus group were found to be most resistant to low aw. Growth and survival of vegetative and fruiting bodies at elevated temperatures were enhanced with the addition of a controlling solutes. A. flavus, A. fumigatus displayed high heat resistance and A. amstelodami, A. versicolor and Penicillium citrinum displayed low heat resistance at high aw levels and vice versa at low aw levels. Amylase, lipase and protease activities were studied at lowered aw , using modifications of the test tube method of Raute11a and Cowling. Amylase and protease production in most xerophilic fungi ceased around 0.80 aw , but lipase production in some xerophilic fungi, including A. glatlcus fungi, was up to and including 0.70 aw with g1ycero1.