The value of innovation:the interaction of competition, R&D and IP

This paper analyses market valuations of UK companies using a new data set of their R&D and IP activities (1989–2002). In contrast to previous studies, the analysis is conducted at the sectoral-level, where the sectors are based on the technological classification originating from Pavitt [Pavitt, K., 1984. Sectoral patterns of technical change. Research Policy 13, 343–373]. The first main result is that the valuation of R&D varies substantially across these sectors. Another important result is that, on average, firms that receive only UK patents tend to have no significant market premium. In direct contrast, patenting through the European Patent Office does raise market value, as does the registration of trade marks in the UK for most sectors. To explore these variations the paper links competitive conditions with the market valuation of innovation. Using profit persistence as a measure of competitive pressure, we find that the sectors that are the most competitive have the lowest market valuation of R&D. Furthermore, within the most competitive sector (‘science based’ manufacturing), firms with larger market shares (an inverse indicator of competitive pressure) also have higher R&D valuations, as well as some positive return to UK patents. We conclude that this evidence supports Schumpeter by finding higher returns to innovation in less than fully competitive markets and contradicts Arrow [Arrow, K., 1962. Economic welfare and the allocation of resources for invention. In: Nelson, R. (Ed.), The Rate and Direction of Inventive Activity. Princeton University Press, Princeton], who argued that, with the existence of IP rights, competitive market structure provides higher incentives to innovate.

Low Volatility Options and Numerical Diffusion of Finite Difference Schemes

2000 Mathematics Subject Classification: 65M06, 65M12.

Understanding inter-firm networks and types of innovation in SMEs:a social network perspective

Innovation is one of the key drivers for gaining competitive advantages in any firms. Understanding knowledge transfer through inter-firm networks and its effects on types of innovation in SMEs is very important in improving SMEs innovation. This study examines relationships between characteristics of inter-firm knowledge transfer networks and types of innovation in SMEs. To achieve this, social network perspective is adopted to understand inter-firm knowledge transfer networks and its impact on innovation by investigating how and to what extend ego network characteristics are affecting types of innovation. Therefore, managers can develop the firms'network according to their strategies and requirements. First, a conceptual model and research hypotheses are proposed to establish the possible relationship between network properties and types of innovation. Three aspects of ego network are identified and adopted for hypotheses development: 1) structural properties which address the potential for resources and the context for the flow of resources, 2) relational properties which reflect the quality of resource flows, and 3) nodal properties which are about quality and variety of resources and capabilities of the ego partners. A questionnaire has been designed based on the hypotheses. Second, semistructured interviews with managers of five SMEs have been carried out, and a thematic qualitative analysis of these interviews has been performed. The interviews helped to revise the questionnaire and provided preliminary evidence to support the hypotheses. Insights from the preliminary investigation also helped to develop research plan for the next stage of this research.

Ellátási lánc kapcsolatok modellezése = Modeling of supply chain relationships

A dolgozatban az ellátási láncokban meglévő diadikus kapcsolatok minőségét állítjuk a vizsgálatok középpontjába. Az irodalomban számtalan megközelítés ismert az ellátási lánc kapcsolatok fejlődésének leírására. Ezen fejlődési elméletek inkább elméleti szinten írják le a diadikus kapcsolatok változását, annak empirikus tesztelhetőségét nem vizsgálják. Dolgozatunkban kísérletet teszünk az ellátási lánc kapcsolatok fejlődésének empirikus vizsgálatára. Arra próbálunk választ találni, hogy az életciklus hipotézis az üzleti kapcsolatok időbeli fejlődésére alkalmazható-e. = Our paper combines two approaches using data of an internet based questionnaire and applying quantitative analysis it tests the hypothesis business relationship development in time can be described with the concept of life cycle. The concept of life cycle is widely used in business research. Among others the diffusion of innovation is described using this concept, or the concept of product life cycle just to name a few. All of these researches analyze the life cycle along a specific variable (for example the volume of sales or revenue in case of the product life cycle) which (except the last stage of the cycle, the decline) has a cumulative character resulting in the widely known specific shape of a life cycle. Consequently testing a life cycle hypothesis inevitably means the acceptance of some type cumulativity in the development.

Az innováció hatása a vállalati teljesítményre és versenyképességre (The impact of innovation activities on firm's performance and competitiveness)

A tanulmány az innovációnak a vállalati teljesítményre és a versenyképességre gyakorolt hatását vizsgálja, valamint a magyarországi innováció gazdasági környezetének néhány elemét próbálja feltérképezni a Budapesti Corvinus Egyetem Versenyképesség Kutató Központjának 2009-es felmérése alapján. A termékinnováció fontos szerepet játszik a versenyképes vállalatok sikerében, azonban - elsősorban adatbázisunk keresztmetszeti jellege miatt - az eljárásinnovációról ezt nem tudjuk megállapítani. Ugyancsak nem találtunk szignifikáns kapcsolatot az innováció és a termelékenység között. Az innovatív vállalatok nagyobb valószínűséggel vesznek részt a külkereskedelemben, nagyobb arányban vannak külföldi tulajdonban, s az innovációs folyamat során leginkább saját tudásbázisukra támaszkodnak. Az innováció egyik fő hátráltató tényezőjének tartják az állam szerepét, gyakran néznek szembe finanszírozási problémákkal és a piaci szereplők új termékek iránti igénytelenségével. _____ The paper deals with the impact of innovation on performance and competitiveness based on firm-level data. The research is based on a survey conducted by the Competitiveness Research Centre at Budapest Corvinus University. According to the econometric analysis, the firms that are more innovative are export oriented and foreign owned. Product innovation has an eminent role in competitiveness, but no significant relationship was found between innovation and productivity. As for sources of innovation, internal ones are more important than universities, customers or open sources. Firms themselves perceive legislation and taxation as highly important factors that hamper their innovation activity.

Fifty shades of innovation – from open toward user, and open collaborative forms of innovation – an overview

Starting from the Schumpeterian producer-driven understanding of innovation, followed by user-generated solutions and understanding of collaborative forms of co-creation, scholars investigated the drivers and the nature of interactions underpinning success in various ways. Innovation literature has gone a long way, where open innovation has attracted researchers to investigate problems like compatibilities of external resources, networks of innovation, or open source collaboration. Openness itself has gained various shades in the different strands of literature. In this paper the author provides with an overview and a draft evaluation of the different models of open innovation, illustrated with some empirical findings from various fields drawn from the literature. She points to the relevance of transaction costs affecting viable forms of (open) innovation strategies of firms, and the importance to define the locus of innovation for further analyses of different firm and interaction level formations.

Drivers of Innovation In Financing Transportation Infrastructure: A Systemic Investigation

Traditional methods of financing infrastructure, which include gas taxation, tax-exempt bonds, and reserve funds, have not been able to meet the growing demand for infrastructure. Innovative financing systems have emerged to close the gap that exists between the available and needed financing sources. The objective of the study presented in this paper is to assess determinants of innovative financing in the U.S. transportation infrastructure using a systemic approach. Innovation System of Systems approach is adopted for systemic assessment and a case-based research approach is utilized to explore the constituents of innovative financing for U.S. transportation infrastructure. The findings, which include constructs regarding the players, practices, and activities are used to create a model to enable understanding the dynamics of the drivers and inhibitors of innovation and, thus, to derive implications for practice. The model along with the constructs provides an analytical tool for practitioners in the U.S. transportation infrastructure.

The international diffusion of project management

This paper examines the international diffusion of one business practice, project management, through the prism of prior literature and data on the diffusion of ISO 9000. The study took an inductive approach, building theory through the iterative collection and analysis of quantitative and qualitative data. The findings problematise the central position accorded to the S-curve model and neo-institutional theory in explaining technology diffusion. The research posits three distinct processes driving the diffusion process: utility, institutional isomorphism, and competitive isomorphism, with the latter consisting of three primary mechanisms: competitive imitation, trendslators and fashion retailers. Contrary to prior literature, national, quasi-professional associations are found to be central to the diffusion process and play a key role in advocating and containing management technologies.

Barriers and Facilitators to Adoption of Genomic Services for Colorectal Care within the Veterans Health Administration.

We examined facilitators and barriers to adoption of genomic services for colorectal care, one of the first genomic medicine applications, within the Veterans Health Administration to shed light on areas for practice change. We conducted semi-structured interviews with 58 clinicians to understand use of the following genomic services for colorectal care: family health history documentation, molecular and genetic testing, and genetic counseling. Data collection and analysis were informed by two conceptual frameworks, the Greenhalgh Diffusion of Innovation and Andersen Behavioral Model, to allow for concurrent examination of both access and innovation factors. Specialists were more likely than primary care clinicians to obtain family history to investigate hereditary colorectal cancer (CRC), but with limited detail; clinicians suggested templates to facilitate retrieval and documentation of family history according to guidelines. Clinicians identified advantage of molecular tumor analysis prior to genetic testing, but tumor testing was infrequently used due to perceived low disease burden. Support from genetic counselors was regarded as facilitative for considering hereditary basis of CRC diagnosis, but there was variability in awareness of and access to this expertise. Our data suggest the need for tools and policies to establish and disseminate well-defined processes for accessing services and adhering to guidelines.

Mathematical modeling of the diffusion of magnetic particles in a ferrofluid seal under magnetic and centrifugal forces

Otto-von-Guericke-Universität Magdeburg, Fakultät für Mathematik, Dissertation, 2016

Study on measuring Systems of Innovation on National level- case Finland

Innovation improves human affluence and comfort and is key driver of nation’s economic progression. This study focuses on National innovation systems in general and Finnish national innovation system in particular. It is known that innovation process does not work in isolation; rather it is an outcome of role played numerous actors. In this study three aspects are explained- firstly, to define the most important actors of National innovation systems and secondly, a framework to analyze National innovation system. Third aspect of this study highlights and analyzes the key aspects of Finnish National Innovation system. Moreover, during the course of this study emphasis was given on the utmost central processes which are required to come off in innovation system as they can successfully lead towards innovation.

Promotion and diffusion of tha career Bachelor and Licenciature of Mathematics Teaching in rural areas of Costa Rica project: effects and results

This article describes the purpose and activities of the project Promoting Mathematics Education in Rural Areas of Costa Rica. The activity has focused on two objectives. First, supporting and monitoring students who have expressed interest in studying a mathematics teacher. To achieve this, it has been working with students who have an ideal profile for the career, mainly from rural areas. The second objective is to conduct training workshops for high school in-service teachers, to strengthen and improve their knowledge in the area of mathematics. Among the results of the project, it can be highlighted a significant increase in the enrollment of students in the career of Mathematics Education in 2010 and 2011, and the training processes in the field of Real Functions of Real Variable and Geometry at different regional areas mostly rural as Aguirre, Sarapiquí, Coto, Buenos Aires, Limón, Cañas, Pérez Zeledón, Nicoya, Los Santos, Turrialba, Puriscal, Desamparados, San Carlos, Puntarenas, Limón, Liberia, Santa Cruz y Upala.

Research-based spin-offs as agents of knowledge dissemination: evidence from the analysis of innovation networks

The paper addresses the role played by research-based spin-offs (RBSOs) as knowledge dissemination mechanisms, through their position in knowledge networks. For this purpose the paper analyses the formal networks established by the Portuguese RBSOs in the context of publicly funded research, technology and pre-commercial product development projects, and investigates their configuration along two levels. At organisational level, in order to understand whether RBSOs extend their reach beyond the academic sphere; and if they do, whether they relate with similar firms or connect to organisations located downstream in the knowledge value chain, and which is their position in networks involving both research organisations and other firms. At spatial level, in order to understand whether RBSOs extend their reach beyond the region where they are created, thus potentially acting as connectors between diverse regions. The analysis starts from the population of RBSOs created in Portugal until 2007 (387) and identifies those that have established formal technological relationships as part of projects funded by all the programmes launched in the period 1993-2012. As a result, the analysis encompasses 192 collaborative projects and involves 82 spin-offs and 281 partners, of which only 20% are research organisations, the remaining being other firms and a variety of other user organisations. The results, although still preliminary, provide some insights into the knowledge networking behaviour of the RBSOs. As expected, research organisations are a central actor in spin-offs’ networks, being the sole partner for some of them. But half of the RBSOs have moved beyond the academic sphere, being frequently a central element in tripartite technological relationships between research and other organisations and occupying an intermediation position in the network, thus potentially acting as facilitators in knowledge circulation and transformation. Also as expected, RBSOs are predominantly located in the main metropolitan areas and tend to relate with organisations similarly located. But while geographical proximity emerges as important in the choice of partners, in about half of the cases, RBSOs knowledge networks have extended beyond regional boundaries. Given their central position in the network this suggests a role as connectors across regions that will be explored in subsequent research.