Found 313 article(s) in category 'Innovation'

Collaborate to Innovate? Teams and Patent Generation in a Global R&D Center

Collaborate to Innovate? Teams and Patent Generation in a Global R&D Center. Prithwiraj Choudhury, April 2016, Paper. “How should firms organize their employees to generate patents? Are larger teams better than smaller teams, and should their members span formal and informal intra-firm boundaries? We argue that larger teams face greater coordination costs and cooperation problems, and even greater challenges if they span more intra-firm boundaries. Hence, the relationship between team size and patent generation will be more negative if team members belong to more formal organizational units but more positive if they belong to more overlapping informal communities. We also predict that these moderating effects will be exponential rather than linear in form. We test the hypotheses using a proprietary dataset that combines patent data with fine-grained personnel data from the Indian R&D center of a Fortune 50 technology company.Link

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Financing Risk and Innovation

Financing Risk and Innovation. Ramana Nanda, Matthew Rhodes-Kropf, March 2016, Paper, “We provide a model of investment in new ventures that demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk, a forecast of limited future funding, by modifying their focus to finance less innovative firms. In equilibrium, financing risk disproportionately impacts innovative ventures with the greatest real option value by creating a trade-off between protecting the firm from financing risk and maximizing its real option value. We propose that extremely novel technologies may need ‘hot’ financial markets to get through the initial period of discovery or diffusion. This paper was accepted by Gustavo Manso, finance.Link

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Competitiveness and Growth Policy Design

Competitiveness and Growth Policy Design. Philippe Aghion, March 22, 2016, Book Chapter. “After decades during which governments in developed countries would privilege domestic demand as a main driver of economic growth, the advent of globalisation has forced governments to increasingly turn their attention to the competitiveness of the domestic economy, i.e. the extent to which a country can export its production abroad and thereby ‘exchange goods and services in which it is abundant for goods and services that it lacks’.Link

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Innovation and Business Growth

Innovation and Business Growth. William Kerr, March 22, 2016, Book Chapter. “Innovation and the pursuit of new business opportunities is essential for growth at the firm level; moreover, it provides the foundation for an economy to achieve new levels of technological prowess, productivity and, ultimately, prosperity. This chapter describes recent work in economics and management scholarship on how firms grow. Given the other contributions in this conference volume, we focus specifically on questions surrounding the types of innovations that large and small firms pursue and how it impacts their relative growth rates. Developing evidence suggests that as firms become larger they have trouble maintaining the external innovations that are most powerful for growth, instead focusing increasingly on internal work and enhancements.Link

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Regional Variation in Venture Capital: Causes and Consequences

Regional Variation in Venture Capital: Causes and Consequences. Ramana Nanda, Matthew Rhodes-Kropf, March 22, 2016, Book Chapter. “Entrepreneurship is a central element of the Schumpeterian process of creative destruction (Schumpeter, 1942). Startups have been associated with the birth of important new industries such as semiconductors and computers, the internet and biotechnology, and there is increasing evidence of the important role that startup firms play in driving aggregate productivity growth in the economy (Aghion and Howitt, 1992; King and Levine, 1993; Foster et al., 2008).Link

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Silk-Road Type Projects: Lessons From Some Historical Examples

Silk-Road Type Projects: Lessons From Some Historical Examples. Robert Z. Lawrence, 2016, Book Chapter. “China’s Belt and Road Initiative is a project of truly historic proportions. If successful, it has the potential to deliver significant benefits to China and its neighbors. To realize this potential, both China and the recipient nations must overcome numerous institutional challenges. This chapter draws on a variety of historical experiences to explore the nature of these challenges. It does so not to argue that history will repeat itself or to imply that the project replicates the precise conditions of the examples chosen but to reflect on what history tells us about both the potential and pitfalls that have been associated with such endeavors in the past.Link

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Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China.

Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China. Josh Lerner, March 1, 2015, Paper, “Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase is larger in cities with strong IPR protection. Our results support theoretical arguments that IPR protection strengthens firms’ incentives to innovate and that private sector firms are more sensitive to IPR protection than SOEs.Link

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Education, Research, and Innovation in Africa

Education, Research, and Innovation in Africa. Calestous Juma, February 2016, Paper. “Africa is a youthful continent: nearly 41% of its population is under the age of 18. To address the unique challenges of this demographic structure, the African Union (AU) has adopted a 50-year Agenda 2063 to help guide the socioeconomic transformation of the continent with particular reference to the youth. One of the objectives of Agenda 2063 is to reposition the continent as a strategic player in the global economy through improved education and application of science and technology in development. The AU’s Science, Technology and Innovation Strategy for Africa, 2024 (STISA-2024) provides an intial 10-year framework for pursuing this goal.Link

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Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”

Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”. Richard Zeckhauser, February 2016, Paper. “New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are modeled to determine ownership, rental rates, quantities, and surplus generated. Both the short run, before consumers can revise their ownership decisions, and the long run, in which they can, are examined to assess how these markets change ownership and consumption. The analysis examines bringing-to-market costs, such as labor costs and transaction costs, and considers the operating platform’s pricing problem. A survey of consumers broadly supports the modeling assumptions employed. For example, ownership is determined by individuals’ forward-looking assessments of planned usage.Link

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BUYING TIME: The Science of Happier Spending

BUYING TIME: The Science of Happier Spending. Michael I. Norton, Winter 2016, Paper. “MANY OF US WISH WE HAD MORE FREE TIME to do what we love — whether it be working out, reading or playing guitar. In theory, it is possible to use the money we earn to ‘buy’ more of this kind of time; but research suggests that even when we can afford to do so, we are not spending our time in more enjoyable ways on a regular basis.Link

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