Found 415 article(s) in category 'Innovation'

Slowing Tech Represents A ‘Real Reckoning’

Slowing Tech Represents A ‘Real Reckoning. Nancy Koehn, October 10, 2019, Audio, “Nancy Koehn, historian at the Harvard Business School, stopped by Boston Public Radio on Thursday to discuss the slowing growth of Silicon Valley tech companies, and the shifting interests toward profit and away from big spending.“This represents a real reckoning,” Koehn said of the dwindling growth for companies like Uber and Lyft. “The 32 tech companies that went public this year thus far … have only appreciated … on average, about 5%.”Link

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Regulation and innovation: Examining outcomes in Chinese pollution control policy areas

Regulation and innovation: Examining outcomes in Chinese pollution control policy areas. Richard Freeman, October 3, 2019, Paper, “In this paper, we examine how two regionally implemented environmental initiatives in China have impacted the innovation ability of Chinese-listed firms. The regional implementation of these policies, with non-policy regions serving as controls, offers researchers the perfect conditions for a natural experiment. Using research and development (R&D) expenditures and patents as a proxy for innovativeness, we compare the record of innovation of firms inside the policy zones with firms outside the policy zones. We use a Difference-In-Difference-In-Differences (DIDID) method to eliminate endogeneity and take the quality of the patents into account by incorporating sub-items. Results show only one of the regulations had a positive effect and that low quality patents account for most of the innovation. We conclude that reasonably designed environmental regulations, when implemented regionally in competitive industries, do improve Chinese firms’ innovation ability in line with the Porter Hypothesis. The results help us derive some useful policy implications regarding innovation.Link

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Should We All Be Living in Cities?

Should We All Be Living in Cities? Edward Glaeser, September 30, 2019, Audio, “Cities are an integral part of Earth’s future: by 2050, 68 percent of the world’s population will be living in an urban area. Solutions to social problems, from climate change to poverty, will therefore be tied to the fates of cities. In this episode, Glimp professor of economics Edward Glaeser explains why he is overwhelmingly optimistic about urban growth. Cities, he says, are engines of innovation and economic activity that create opportunity. “Humans,” he explains, “are a social species that gets smart by being around other smart people.” When they do, their impact on the planet’s climate is lessened in surprising ways—and in surprising places across the United States.Link

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Cities and Big Data

Cities and Big Data. Edward Glaeser, September 2019, Paper, “Historically, there has been a divide between urban economics and the physical aspects of the city itself. Social scientific research has been detached from subjects such as architecture and streetscapes. This lack of connection has been driven in part by a lack of data on the physical attributes of urban spaces. The “big data” revolution will change this. Big data turns a cross section of space into living data, offering a broader and finer picture of urban life than has ever been available before. Moreover, in combination with predictive algorithms, big data may allow us to extrapolate outcome variables such as house prices or income to previously unmeasured parts of a population. This policy brief showcases some examples of how big data can be used to develop cities.Link

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At Booking.com, Innovation Means Constant Failure

At Booking.com, Innovation Means Constant Failure. Stefan Thomke, September 3, 2019, Audio, “Harvard Business School professor Stefan Thomke discusses how past experience and intuition can be misleading when attempting to launch an innovative new product, service, business model, or process in his case “Booking.com” (co-author: Daniela Beyersdorfer) and his new book, “Experimentation Works.” Instead, Booking.com and other innovative firms embrace a culture where testing, experimentation, and even failure are at the heart of what they do.Link

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The Wise Company: How Companies Create Continuous Innovation

The Wise Company: How Companies Create Continuous Innovation. Hirotaka Takeuchi, 2019, Book, “High-velocity change is the fundamental challenge facing companies today. Few companies, however, are prepared to continuously innovate-because they focus on the short-term and do not emphasize the wisdom needed to make sure that their interests are aligned with those of society. Practical wisdom is the bases of continuous innovation, where companies ceaselessly and repeatedly creating new knowledge, disseminating it throughout the organization, and converting knowledge to action over time. In The Wise Company, legendary management experts Ikujiro Nonaka and Hirotaka Takeuchi highlight how various companies have confronted the challenge of rapid change to create new products and new ways of doing business that benefit employees, consumers, and society.Link

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Risk attitudes and personality traits of entrepreneurs and venture team members

Risk attitudes and personality traits of entrepreneurs and venture team members. William Kerr, August 19, 2019, Paper, “Personality distinctions between entrepreneurs, nonfounder CEOs/leaders, and inventor employees have received limited attention, especially in innovative settings where they are working together. We surveyed these groups, along with other employees of innovative firms, at 4 locations of a prominent innovation and coworking center. Entrepreneurs display the greatest tolerance of risk, even in small gambles, as well as the strongest self-efficacy, internal locus of control, and need for achievement. Nonfounder CEOs/leaders typically sit in between entrepreneurs and employees for personality traits. Entrepreneurs, nonfounder CEOs/leaders, and inventor employees all show more innovative personalities than the noninventor employees in the same companies.Link

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Extending the role of headquarters beyond the firm boundary: entrepreneurial alliance innovation

Extending the role of headquarters beyond the firm boundary: entrepreneurial alliance innovation. Andy Wu, August 14, 2019, Paper, “Prior research on corporate headquarters (CHQ) characteristics identifies the impact of CHQ location and composition on the innovation outcomes of internal subsidiaries. However, given that external strategic alliances with high-tech entrepreneurial firms represent a key source of innovation for the corporation, corporations must also consider how their choices of CHQ location and composition affect the innovation outcomes of these partners. In a study of 36 incumbent pharmaceutical corporations in 377 strategic alliances with 143 VC-backed biotechnology startups, we leverage detailed hand-collected data on CHQ locations and functions to estimate the effect of the CHQ on the innovation performance of the corporations’ entrepreneurial alliance partners. We find that a 1000-km decrease in CHQ–partner distance leads to an increase of 28 forward citations for the alliance partner, i.e., a 1% decrease in the distance is associated with a 1.7% increase in innovation performance. We find that the co-located presence of the corporation’s R&D function at the CHQ attenuates the benefit of CHQ–partner proximity, particularly for alliances structured for horizontal collaboration at the same part of the value chain. This study contributes to the literatures on both CHQ design and technology alliances.Link

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What About Rochester?

What About Rochester? Kenneth Rogoff, August 1, 2019, Opinion, “There is much to be celebrated in the rise of modern megacities, especially in developing countries. But if the trend persists in advanced economies, which is by no means certain, greater public and private innovation will be required to strike a better regional growth balance.Link

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No Data in the Void: Values and Distributional Conflicts in Empirical Policy Research and Artificial Intelligence

No Data in the Void: Values and Distributional Conflicts in Empirical Policy Research and Artificial Intelligence. Maximilian Kasy, August 2019, Paper, “Decision making based on data – whether by policymakers drawing on empirical research, or by algorithms using machine learning – is becoming ever more widespread. Any time such decisions are made, we need to carefully think about the goals we want to achieve, and the policies we might possibly use to achieve them. Data cannot absolve us of this responsibility. They do not allow us to avoid value judgements, and do not relieve us from taking sides in distributional conflicts. This essay introduces a general framework to clarify this point, and then discusses a series of settings in which the choice of objectives (goals) has far-reaching and maybe unexpected implications.Link

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