Innovation or Imitation? The effect of spillovers and competitive pressure on firms' R&D strategy choice

This article provides a theoretical and empirical analysis of a firm's optimal R&D strategy choice. In this paper a firm's R&D strategy is assumed to be endogenous and allowed to depend on both internal firms. characteristics and external factors. Firms choose between two strategies, either they engage in R&D or abstain from own R&D and imitate the outcomes of innovators. In the theoretical model this yields three types of equilibria in which either all firms innovate, some firms innovate and others imitate, or no firm innovates. Firms'equilibrium strategies crucially depend on external factors. We find that the efficiency of intellectual property rights protection positively affects firms'incentives to engage in R&D, while competitive pressure has a negative effect. In addition, smaller firms are found to be more likely to become imitators when the product is homogeneous and the level of spillovers is high. These results are supported by empirical evidence for German .rms from manufacturing and services sectors. Regarding social welfare our results indicate that strengthening intellectual property protection can have an ambiguous effect. In markets characterized by a high rate of innovation a reduction of intellectual property rights protection can discourage innovative performance substantially. However, a reduction of patent protection can also increase social welfare because it may induce imitation. This indicates that policy issues such as the optimal length and breadth of patent protection cannot be resolved without taking into account specific market and firm characteristics. Journal of Economic Literature Classification Numbers: C35, D43, L13, L22, O31. Keywords: Innovation; imitation; spillovers; product differentiation; market competition; intellectual property rights protection.

R&D cooperation between Spanish firms and scientific partners: what is the role of tertiary education?

This paper explores the factors that determine firm’s R&D cooperation with different partners, paying special attention on the role of tertiary education (degree and PhDs level) in facilitating the connection between the firms and the to scientific bodies (technology centres, public research centres and universities). Here, we attempt to answer two questions. First, are innovative firms that carry out internal and external R&D activities more likely to cooperate on R&D projects with other partners? Second, do Spanish innovative firms with a high participation of researchers with degrees or PhDs tend to cooperate more with scientific partners? To answer both questions we apply a three-dimensional approach on a firm level Panel Data with a sample of 4.998 manufacturing and services Spanish firms. First, we run a complementary test between external R&D acquisition and skilled research workers and find that firms which carry out external R&D activities obtain a greater return on R&D cooperation when they have skilled workers in R&D, especially in high-tech manufactures and KIS services. Second, we carry out a 2-step tobit model to estimate, in the first stage, the determinants that explain whether Spanish innovative firms cooperate or not; and in the second stage the factors that affect the choice of partners. And third, we apply an ordered probit model to test the marginal effects of explanatory variables on the different partners. Here we contrast some of the most interesting empirical hypotheses of previous studies, and which emphasize the role of employees with degrees and PhDs in facilitating cooperative R&D between firms and scientific partners. JEL classification: O31, O33, O38. Key words: Determinants R&D cooperation, industry-university flows, PhD research workers.

Innovation and absorptive capacity: What is the role of technological frontier?

This paper explores how absorptive capacity affects the innovative performance and productivity dynamics of Spanish firms. A firm’s efficiency levels are measured using two variables: the labour productivity and the Total Factor Productivity (TFP). The theoretical framework is based on the seminal contributions of Cohen and Levinthal (1989, 1990) regarding absorptive capacity; and the applied framework is based on the four-stage structural model proposed by Crépon, Duguet and Mairesse (1998) for setting the determinants of R&D, the effects of R&D activities on innovation outputs, and the impacts of innovation on firm productivity. The present study uses a twostage structural model. In the first stage, a probit estimation is used to investigate how the sources of R&D, the absorptive capacity and a vector of the firm’s individual features influence the firm’s likelihood of developing innovations in products or processes. In the second phase, a quantile regression is used to analyze the effect of R&D sources, absorptive capacity and firm characteristics on productivity. This method shows the elasticity of each exogenous variable on productivity according to the firms’ levels of efficiency, and thus allows us to distinguish between firms that are close to the technological frontier and those that are further away from it. We used extensive firm-level panel data from 5,575 firms for the 2004-2009 period. The results show that the internal absorptive capacity has a strong impact on the productivity of firms, whereas the role of external absorptive capacity differs according to nature of the each industry and according the distance of firms from the technological frontier. Key words: R&D sources, innovation strategies, absorptive capacity, technological distance, quantile regression.

Designing the Optimal Conservativeness of the Central Bank

In this paper we propose a new measure of the degree of conservativeness of an inde- pendent central bank and we derive the optimal value from the social welfare perspective. We show that the mere appointment of an independent central bank is not enough to achieve lower inflation, which may explain the mixed results found between central bank independence and inflation in the empirical literature. Further, the optimal central bank should not be too conservative. For instance, we will show that in some circumstances it will be optimal that the central bank is less conservative than society in the Rogoff sense. JEL classification: E58, E63. Keywords: Central bank; Conservativeness; Independence.

The Innovation and Imitation Dichotomy in Spanish firms: do absorptive capacity and the technological frontier matter?

This paper analyses whether a firm’s absorptive capacity and its distance from the technological frontier affect the choice between innovation and imitation in innovative Spanish firms. From an extensive survey of 5,575 firms during the 2004-2009 period, we found two significant results. With regard to the role of absorptive capacity, the empirical evidence shows that when innovative firms have difficulties in accessing external information and hire skilled workers, their innovative capacity is reduced. Meanwhile, with regard to distance from the technological frontier, the firms that reduce this gap manage to increase their innovative capacity at the expense of imitation. To summarise, when we studied firms’ absorptive capacity and their relative position to the technological frontier in tandem, we found that the two factors directly affected firms' ability to innovate or imitate. Key words: R&D sources, innovation and imitation strategies, absorptive capacity, technological frontier, ordered probit.

A Folk Theorem for Games when Frequent Monitoring Decreases Noise

This paper studies frequent monitoring in an infinitely repeated game with imperfect public information and discounting, where players observe the state of a continuous time Brownian process at moments in time of length _. It shows that a limit folk theorem can be achieved with imperfect public monitoring when players monitor each other at the highest frequency, i.e., _. The approach assumes that the expected joint output depends exclusively on the action profile simultaneously and privately decided by the players at the beginning of each period of the game, but not on _. The strong decreasing effect on the expected immediate gains from deviation when the interval between actions shrinks, and the associated increase precision of the public signals, make the result possible in the limit. JEL: C72/73, D82, L20. KEYWORDS: Repeated Games, Frequent Monitoring, Public Monitoring, Brownian Motion.

Public Monitoring with Uncertainty in the Time Repetitions

This paper study repeated games where the time repetitions of the stage game are not known or controlled by the players. We call this feature random monitoring. Kawamori's (2004) shows that perfect random monitoring is always better than the canonical case. Surprisingly, when the monitoring is public, the result is less clear-cut and does not generalize in a straightforward way. Unless the public signals are sufficiently informative about player's actions and/or players are patient enough. In addition to a discount effect, that tends to consistently favor the provision of incentives, we found an information effect, associated with the time uncertainty on the distribution of public signals. Whether payoff improvements are or not possible, depends crucially on the direction and strength of these effects. JEL: C73, D82, D86. KEYWORDS: Repeated Games, Frequent Monitoring, Random Public Monitoring, Moral Hazard, Stochastic Processes.

High Growth Firms and Innovation: an empirical analysis for Spanish firms

This paper analyzes the effect of firms’ innovation activities on their growth performance. In particular, we observe how important innovation is for high-growth firms (HGFs) for an extensive sample of Spanish manufacturing and services firms. The panel data used comprises diverse waves of Spanish CIS over the the period 2004-2008. First, a probit analysis determines whether innovation affects the probability of being a high-growth firm. And second, a quantile regression technique is applied to explore the determinants and characteristics of specific groups of firms (manufacturing versus service firms and high-tech versus low-tech firms). It is revealed that R&D plays a significant role in the probability of becoming a HGF. Investment in internal and external R&D per employee has a positive impact on firm growth (although internal R&D presents a significant impact in the last quantiles, external R&D is significant up to the median). Furthermore, we show evidence that there is a positive impact of employment (sales) growth on the sales (employment) growth. Keywords: high-growth firms, firm growth, innovation activity JEL Classifications: L11, L25, O30

Determinants of high-growth firms:why do some countries have more high-growth firms than others?

High-growth firms have been shown to be a key factor for economic growth and structural change. This paper analyses the determinants of the number of high-growth firms in a country for 17 OECD countries between 1999 and 2005, using the Amadeus data set, the GEM data set, and others. The first contribution of this paper is that it is – as far as we know – the first empirical analysis of high-growth firms at the country level on the basis of actual measured growth. Second, we find indicative empirical evidence for three driving forces of high growth, viz. entrepreneurship, institutional settings, and opportunities for growth, all in accordance with theory and empirical findings in related fields of research. Third, the paper gives a tentative explanation of the differences in the average percentage of high-growth firms between countries. Finally, the paper gives some clues for policy makers how to promote high-growth firms. Keywords: high-growth firms, fast growing firms, entrepreneurship, institutional obstacles, opportunities for growth

Law and the practise of principle in diverse societies

Projecte de recerca elaborat a partir d’una estada a la London School of Economics and Political Science, United Kingdom, entre 2007 i 2009. L’objecte principal del projecte ha estat analitzar les implicacions jurídico-polítiques i institucionals d’una teoria de la justícia i la igualtat liberals aplicada a societats multiculturals amb un marcat predomini de la diversitat cultural. L’anàlisi desenvolupa una línia d'investigació interdisciplinar - entre el dret i la teoria política - iniciada en una tesis doctoral sobre multiculturalisme i drets de les minories culturals (UPF, 2000) que va culminar en la publicació de Group Rights as Human Rights (Springer, 2006). La recerca adopta com a punt de partida les conclusions de l'esmentada obra, en especial, la rellevància del reconeixement de drets col•lectius; tanmateix, el tipus de qüestions plantejades, l’enfoc i la metodologia emprades són substancialment diferents. En concret, s'adrecen preguntes específiques sobre el model i aspiracions del constitucionalisme democràtic i el paper del dret en contextos multiculturals. També s’atorga un pes central a la dimensió institucional dels models de gestió de la diversitat que s’analitzen, prioritzant un enfocament comparatiu a partir de l’estudi de controvèrsies concretes. L’objectiu és superar algunes limitacions importants de la literatura actual, com ara la tendència a examinar en abstracte la compatibilitat de determinades demandes amb el constitucionalisme democràtic, sense abordar el funcionament d'estratègies de gestió de la diversitat cultural emprades en contextos concrets. Els treballs producte d'aquest projecte articulen les línies bàsiques d’un model pluralista, basat en principis més que en regles, que desafia els plantejaments dominants actualment. Aquest model es caracteritza pel compromís amb la legitimitat i igualtat comparatives, rebutjant el paternalisme i les visions liberals típiques sobre el paper de la regulació. La presumpció de l’“standing” moral dels grups identitaris és fonamental per tal de considerar-los interlocutors vàlids amb interessos genuïns. També s’argumenta que la integració social en contextos multiculturals no depèn tant de l’eliminació del conflicte sinó, sobre tot, d’una gestió eficient que eviti abusos de poder sistemàtics. El model defensa el rol del dret en la institucionalització del diàleg intercultural, però admet que el diàleg no necessàriament condueix a l’acord o a una estructura reguladora coherent i uniforme. Les aspiracions del ordre jurídic pluralista són més modestes: afavorir la negociació i resolució en cada conflicte, malgrat la persistència de la fragmentació i la provisionalitat dels acords. La manca d'un marc regulador comú esdevé una virtut en la mesura que permet la interacció de diferents subordres; una interacció governada per una multiplicitat de regles no necessàriament harmòniques. Els avantatges i problemes d’aquest model s'analitzen a partir de l'anàlisi de l’estructura fragmentària de l'ordre jurídic internacional i del règim Europeu de drets humans.

Trastorns respiratoris del son i infart cerebral agut: Mecanismes patogènics, prevalença, evolució i rellevància pronòstica

Estudi prospectiu en 41 pacients amb ictus agut mitjançant poligrafia respiratòria i repetició als 3 mesos (29) per avaluar el paper de la SAHS en l’ictus agut i la relació amb les CPEs. En fase estable va disminuir significativament l’IAH total i la prevalença de SAHS greu, sense relació amb el pronòstic. L’estudi de la SAHS en l’ictus agut pot sobreestimar la prevalença de SAHS greu, dada rellevant front la decisió d’iniciar tractament amb CPAP. Les CPEs mostren un pic als 7 dies post-ictus i els pacients SAHS presenten uns valors basals menors, possible reflex de la seva disfunció endotelial.

Perfil de sensibilització a diverses varietats d'enciam en pacients al·lèrgics i reactivitat encreuada

Introducció: Està descrit com a únic al•lergen de l’enciam una nsLTP:Lac s 1(9KDa). Objectius: Analitzar el perfil de sensibilització a varietats d’enciams ,la reactivitat encreuada i el perfil de reconeixement molecular. Mètodes: Proves cutànies a extractes d’enciams, immunodeteccions ,ImmunoCAP-ISAC i ISAC-Inhibició en pacients sensibilitzats. Resultats: No es va trobar associació entre la sensibilització a varietats d’enciam. A més de Lac s 1 es van reconèixer altres bandes fixadores d’IgE. Conclusions: Els perfils de sensibilització no suggereixen reactivitat encreuada. A més d’estar sensibilitzats a LTP, alguns pacients estan sensibilitzats a al•lèrgens menors. Un d’ells és, probablement, una profilina.

Valoración ecográfica de la vesícula como marcador diagnóstico de la atresia de vias biliares: Gallbladder Ghost Triad (tríada fantasma de la vesícula) VS Pseudo Gallbladder Sign (signo de la pseudovesícula).

Estudi retrospectiu de les troballes ecogràfiques abdominals en 37 bebés menors de 5 mesos amb icterícia colestásica amb revisió de les dades clíniques, patológiques i d´imatge desde l´any 2000 al 2010. L´ecografia es l´estudi d´imatge inicial i es imprescindible distinguir entre les dues entitats més freqüents: atresia de vies biliars i hepatitis neonatal idiopàtica. Les troballes referides a la vesícula, arteria hepàtica i a les característiques del fetge van ser estadísticamente significatives. La valoració conjunta de les mateixes demostra que l´ecografia abdominal és una eina imprescindible per el diagnóstic de l´atresia de vies biliars.

La gestió de la creativitat a les empreses consultores en comunicació i relacions públiques

Aquest treball de recerca investiga com es gestiona la creativitat a les empreses consultores en comunicació i relacions públiques a través d'un estudi exploratori basat en la Grounded Theory. Els resultats suggereixen que la creativitat és una de les competències requerides al professional de les relacions públiques i també un dels criteris que tenen en compte les empreses client a l'hora d'escollir una agència. Tot i així, la figura del director creatiu en relacions públiques genera forta controvèrsia, les tècniques de creativitat utilitzades en el sector es limiten bàsicament a brainstorming, i la creativitat segueix associant-se principalment a la comunicació dirigida al consumidor

Victimologia del desenvolupament : Incidència i repercussions de la victimització i la polivictimització en joves catalans

L'elevada freqüència de victimització en nens, nenes i adolescents és una realitat que ha impulsat l’aparició de la denominada victimologia del desenvolupament, en la qual s’emmarca aquest projecte. Des d’aquesta perspectiva, s’han entrevistat 123 joves, d’entre 12 i 17 anys (M= 14,28 i DT= 1,43) atesos en 13 centres de salut mental de la província de Barcelona, sobre les seves experiències de victimització relatives a delictes comuns, victimització per part de cuidadors, victimització per iguals i/o germans, victimització sexual, victimització indirecta/ser testimoni i victimització per Internet. Alhora s’han avaluat les característiques i el perfil dels victimaris, així com el malestar psicològic i la presència de psicopatologia en les víctimes. Un 99,2% dels menors ha patit alguna forma de victimització al llarg de la seva vida i un 85,4% l’ha sofert en el darrer any. Gran part de les victimitzacions s’inicien durant la infància, estan vinculades a persones conegudes, de l’entorn habitual del menor, i són comeses per un agressor de sexe masculí. Si bé no totes aquestes formes de victimització suposen delictes punibles al nostre país, sí que configuren una part important de la biografia del menor que cal considerar i valorar, donades les implicacions que poden arribar a tenir en el seu desenvolupament. Els resultats confirmen que la victimització i, especialment, l’acumulació d’experiències victimitzants tenen un efecte negatiu en l’estat emocional del menor, cosa que fa que, en els adolescents polivictimitzats, s’obtinguin nivells més elevats de psicopatologia general, així com de simptomatologia internalitzant i externalitzant.