Characteristics of technology transfer in business ventures: the case of Daejeon, Korea

This article explores the characteristics of venture business and entrepreneurs in Korea to (1) identify technology transfer activities, (2) analyze the differences between technology transfer in linear and nonlinear venture businesses, and (3) guide more effective venture business policy and strategy. This empirical assessment reveals that entrepreneurs have insightful evaluations about their resources and capacities as well as expectations with regard to functions and features of science parks and incubators. Respondents from “linear model”-based start-ups tend to be older and have higher education, employ more basic research and development (R&D) and have more R&D-oriented careers, and have more varied work experience than “nonlinear”-based start-ups. The functions and features of science parks and incubators were generally not considered a critical influence on start-ups nor on the growth of venture businesses. Accordingly, alternative venture-nurturing strategies are discussed as being key to accelerate venture businesses growth.     

创业与失业:难民效应与企业家效应的实证检验

本文利用广东省21个地区1991-2007年面板数据,对自雇创业率与失业率的关系进行实证检验。结果表明,失业率变化对自雇创业率变化影响不显著,而自雇创业率变化对随后的失业率变化有显著的负向影响。这一结果支持了创业可降低失业的企业家效应假说,并不支持高失业率会影响自雇创业率的难民效应假说。上述发现从经验证据上支持了我国当前实施的"以创业带动就业"的扩大就业发展战略的合理性,并蕴含着一定的政策含义。     

Business Growth,Size and Age: Evidence from the Business Longitudinal Survey (BLS) Data in Australia

Despite the important role small and medium‐sized enterprises (SMEs) play in the Australian economy, little is known from empirical literature on the formation, growth and frequent dissolution of these businesses. Considering the dynamics of business behaviour, this article analyses the performance, business formation (or dissolution) and variability of growth. Using only available Business Longitudinal Survey (BLS) data from the Australian Bureau of Statistics (ABS), manufacturing businesses are considered for the analysis. Firm growth, the variability of firm growth and the probability that a firm will fail (or survive) depend on firm age. Incorporating the age for Australian businesses, we are able to explain the importance of maturity in analysing growth and survival process of SMEs.     

The effect of capital gains taxation on small business transfers and start-ups

This paper studies the effect of capital gains taxation on small business transfers and business start-ups. We consider a model in which agents have different abilities to manage businesses and derive an agent's optimal choices as an owner or non-owner of a small business. Agents' optimal choices depend on their abilities. We also find that capital gains taxation has a negative effect on small business transfers but can encourage small business start-ups.     

Are small employers more cyclically sensitive? Evidence from Brazil

An important issue facing policymakers is the degree to which fluctuations in economic activity affect employment in large and small businesses across sectors and regions. This issue is particularly relevant for developing countries as it matters for the understanding of the labour market dynamics, and for devising national, sectoral, and regional labour policies that aim at dampening employment fluctuations, particularly during recessions. Using a unique monthly dataset of 27 states and eight industries from 2000:1 to 2009:7, this paper evaluates the sensitivity of businesses of different sizes to business cycle conditions in Brazil. The behaviour of the difference in employment growth rates between large and small firms is counter-cyclical and suggests that small firms are more sensitive to business cycle conditions. In addition, the SVAR impulse response analysis suggests the existence of the effect of small firms hiring cheaply from unemployment proportionally more than large ones. On the other hand, credit constraints seem to hit small firms harder and help to explain the empirical regularity that small firms are more cyclically sensitive than large ones for the Brazilian case.     

The persistence of regional new business formation-activity over time – assessing the potential of policy promotion programs

We investigate regional differences in the level and the development of regional new business formation activity. There is a pronounced variance of start-up rates across the regions. The level of regional new business formation is rather path-dependent so that changes are relatively small. The main factors determining the level of regional start-ups are innovation and an entrepreneurial climate. These factors also seem to be responsible for changes in the level of regional new business formation. In addition, unemployment plays a role. Steering innovation and creating an entrepreneurial atmosphere could be an appropriate starting point for policy measures that try to promote start-ups. Our empirical evidence strongly suggests that such measures may have significant effect only in the long run.

Business Creation and the Stock Market

We claim that the stock market encourages business creation, innovation, and growth by allowing the recycling of "informed capital". Due to incentive and information problems, start-ups face larger costs of going public than mature firms. Sustaining a tight relationship with a monitor (bank, venture capitalist) allows them to finance their operations without going public until profitability prospects are clearer or incentive problems are less severe. However, the earlier young firms go public, the quicker monitors' informed capital is redirected towards new start-ups. Hence, when informed capital is in limited supply, factors that lower the costs for start-ups to go public encourage business creation. Technological spill-overs associated with business creation and thick market externalities in the young firms segment of the stock market provide prima facie cases for encouraging young firms to go public.     

为什么鼓励更多人创业是一项拙劣的公共政策？

政策制定者们常常认为，创建更多新公司将改变经济萧条的地区，促进创新，创造就业。这种看法令人质疑，因为新建公司不具创新能力，创造不了多少就业机会，也生产不了多少财富。通过创业获得经济增长和创造就业机会不是一种数字游戏，它是要鼓励高品质、高增长公司的形成。政策制定者应停止资助典型新公司的创建，把重点放在有增长潜力的公司上。虽然政府官员不能“挑选赢家”，他们还是能够甄别出无力创造就业和拉动经济增长的新建公司。通过减少对这些低能力公司的创建激励，政策制定者们能够改善新生企业的平均绩效。     

企业家背景特征对技术创业企业绩效影响的实证研究

以商业模式创新作为中介变量,构建了企业家背景特征与技术创业企业绩效之间关系的理论模型。基于中小板和创业板125家上市公司的数据,采用多元回归分析方法对研究假设进行了验证。结果表明：企业家背景特征中的教育水平、专业背景、职能背景均对技术创业企业绩效具有正向影响;商业模式创新在企业家教育水平、专业背景和职能背景与技术创业企业绩效之间具有部分中介作用。     

CAN STATE TAX POLICIES BE USED TO GROW SMALL AND LARGE BUSINESSES?

The existing literature studying the relationship between small business activity and U.S. state tax policy has focused primarily on a few measures of small business. We expand this literature by estimating the effect of state tax policy on small businesses by using broader measures of small business activity using a longitudinal dataset for the U.S. states. We also estimate the relationship between state tax policy and large business activity. Results provide evidence that state tax policy can influence small business firm, establishment, payroll, and employment growth in important ways but provide limited evidence that such policy significantly influences large business growth. (JEL H2, H7, R1)     

家族企业管理层行为对企业创新绩效的影响——长期导向的中介效应与组织惯例的调节作用

家族企业在世界经济中扮演着重要角色,备受国内外学者关注。通过研究家族参与管理和CEO长期任职与企业创新绩效之间的关系,探讨了长期导向的中介效应与组织惯例的调节作用。基于浙皖家族企业样本实证分析,得出以下结论:家族参与管理和企业创新绩效之间存在倒“U”型关系;家族企业CEO长期任职对长期导向的形成有积极正向影响;长期导向在CEO长期任职与家族企业创新绩效间起中介作用;组织惯例正向调节家族参与管理对创新绩效的影响,正向调节长期导向对创新绩效的影响。通过探究管理层行为对企业创新绩效的影响,丰富了国内家族企业研究成果,也为家族企业响应不断变化的外部环境、实现可持续创新发展提供了有益启示。     

企业创新、市场化进程与区域就业水平

当前我国经济进入“换挡调整、转型升级”的新阶段,如何通过企业创新激发市场活力,提高区域就业水平,是“新常态”时期必须攻克的新难关。系统探究了工业企业创新对区域就业水平的影响,揭示了市场化进程的调节作用。研究发现：微观企业创新显著促进了区域就业水平提高,并且,随着市场化水平的提升,企业创新对区域就业的促进作用会显著增强。进一步考察企业性质发现,企业规模和产权属性对企业创新和区域就业水平具有显著调节作用：相较于大型企业和国有企业,中小型企业和非国有企业创新对就业水平的促进作用更强,而市场化进程对不同性质企业创新投资与区域就业水平的关系具有显著的差异性影响。最后,从政府完善市场化环境、激发企业创新投资动力、提升就业水平与稳定社会秩序等角度提出了政策建议。     

经济增长、产业发展与就业结构在中国的实证检验

经济增长与居民就业之间既存在正面效应,又存在负面效应,在不同发展时期其效应有不同的表现,总体上二者间呈现倒"U"型关系。实证分析经济增长与就业结构之间的关系发现,我国经济增长对城镇和农村就业的拉动效应均有限,但对城镇的影响要大于农村。通过对三次产业结构偏离度的分析发现,第一产业存在较大的剩余劳动力,第二产业的劳动力明显不足,第三产业的产业发展与就业则相对均衡。因此,实施积极的产业和就业政策至关重要。     

Grant Assistance and Small Firm Development in Northern Ireland and the Republic of Ireland

Small business support is an important element of industrial development policy in both Northern Ireland and the Republic of Ireland. This paper examines the effect of grant support on small business performance from 1991–94. Around 50% of small businesses in Northern Ireland and 30% of small businesses in the Republic of Ireland received financial support over this period. In Northern Ireland, three clusters of assisted companies were identified who received support for marketing, training and capital investments. In the Republic of Ireland, two assisted clusters of firms were identified who received marketing and training grants. In each case, firms in the assisted clusters grew faster, tended to be more profitable, were more active in terms of sales and market development and adopted more ambitious strategic directions than those in the non‐assisted clusters. Selection models are used to explore whether these differences are due to differences in the characteristics of the assisted and non‐assisted groups or can be directly attributed to the effect of government financial support. In the Republic of Ireland there is no evidence of any effective targeting of assistance at better performing firms. In Northern Ireland, there is some evidence that assistance was targeted at firms with higher productivity growth. Grant aid had no effect on either the turnover growth or profitability of small businesses in either area. It did, however, boost employment growth. This is good‐news for job creation but has potentially worrying implications for firms' longer‐term competitive position through its negative effect on productivity.     

RELATIONSHIP BETWEEN BUSINESS DEFINITION AND THE LONG‐TERM GROWTH OF COMPANIES: IS LEVITT RIGHT?

Abstract.  Theodore Levitt argued that organizational growth can be threatened because firms define their businesses incorrectly. He believed that businesses should be defined in terms of 'needs', not 'products', if they are to survive in the long term. In this paper I investigate the relationship between business definition and the long-term growth of companies in order to prove Levitt's idea. I statistically analyse relationships between past business definitions and financial performance up to the present using 50 Japanese electric/electronics companies. I find that there is a clear relationship between 'functionality' of a business definition and long-term growth in sales and aggregate market value.     

Entry,market turbulence and industry employment growth

This paper investigates the relationship between industrial dynamics in terms of firm entry, market turbulence and employment growth. Do entry of firms, the composition of industry dynamics (net entry) and market turbulence (entry and exit) influence industrial employment growth? This paper provides an empirical investigation, using unique data for 42 disaggregated Swedish industrial sectors during the period 1997–2001. It is hypothesised that the importance of entering firms, net entry and market turbulence may differ significantly across industries. A quantile regression method is used in order to detect industrial differences in the response to industrial employment growth. The empirical evidence shows that, on the one hand, firm entry and market turbulence have a positive effect on employment for fast growing industries and that the effect is larger for high growth industries. On the other hand, the composition of industry dynamics in terms of net entry rates has a more dispersed effect across all industries, even though the effect of net entry is larger for high growth industries.     

Business regulation and business investment: evidence from US manufacturing 1970–2009

Regulation is often portrayed as placing a substantial burden on US businesses and the overall US economy. Moreover, policy options of “cutting red tape” and “reducing federal bureaucracy” are often asserted to be a way to stimulate investment and, through this channel, a way to promote economic growth. This paper examines the relationship between growth in regulatory restrictions in the Code of Federal Regulations and manufacturing investment in the United States over the 1970–2009 period. An industry-level dataset is constructed by mapping the novel industry-specific RegData dataset from the Mercatus Center at George Mason University to the comprehensive industry-specific manufacturing data in the NBER-CES Manufacturing Industry Database. In total, the constructed dataset includes 337 manufacturing industries. This approach yields substantial evidence that increased business regulation is associated with decreased business investment.     

The employment and wage impact of broadband deployment in Canada

Hundreds of millions of dollars are spent by the Canadian federal and provincial governments to subsidize broadband deployment. This paper provides the first empirical assessment of the impact of broadband on employment and wage growth in Canada. Variation in elevation explains the regional difference in broadband coverage and is used as an instrument to estimate the causal effect. We find that the deployment of broadband in 1997–2011 promoted rural employment and wage growth in service industries. Goods industries were not impacted. The findings suggest that broadband helps service industry businesses overcome geographical barriers that have traditionally hampered rural growth.     

Entrepreneurship,entry and performance of new business compared in two growth regimes: East and West Germany

The paper provides an outline of the concept of regional growth regimes and empirically illustrates the relevance of the concept. The empirical examples are entrepreneurship, entry and the performance of new businesses in East and West Germany. The differences of the factors determining the formation of new businesses as well as their development between these two growth regimes are immense and clearly demonstrate the relevance of region specific factors.JEL Classification: O11, O18, P25, R11Michael Fritsch: I amindebted to two anonymous referees for helpful comments on an earlier version and to Pamela Mueller and Antje Weyh for energetic support in preparing the data. Correspondence to Technical University of Freiberg, Faculty of Economics and Business Administration, Lessingstraße 45, 09596 Freiberg, Germany     

新经济下创业企业非线性成长基因组态与等效路径研究——基于模糊集定性比较分析

新经济的快速发展促使创业企业呈现出不同于传统企业的成长模式和发展路径。从内生性、外生性和网络化成长3个角度，通过组态视角，运用模糊集定性比较分析方法（fsQCA），探讨政策环境、区域产业生态、创业团队、价值连接能力、网络能力、基因组态对新经济创业企业非线性成长的等效影响路径。研究发现3条路径，即内外融合跨界协同型、价值连接奇点爆发型和网络聚合生态赋能型。研究表明，创业团队和价值连接能力对创业企业实现高成长性具有积极正向影响；政策环境、区域产业生态和网络能力在创业企业实现高成长性过程中起到至关重要的作用。研究结论可为新经济环境下创业企业实现快速成长提供借鉴和参考。