What drives ICT adoption by SMEs? Evidence from a large-scale survey in Greece

The purpose of this paper is to identify potential determinants of ICT adoption in SMEs. Particular emphasis is placed on the role of firms' technological competencies, human capital of workforce and internal organization in ICT adoption measured by five indicators referring to firms' intentions toward ICT implementation, ICT infrastructure, internet integration, e-sales and e-procurement. To this end, a particularly rich dataset is utilized based on a large-scale survey on 3500 Greek SMEs. Estimations of ordered probit models show that innovation and R&D activities and collaborations, well-educated and skilled workers, decentralized decision-making and visionary leadership increase the likelihood of adopting new technologies in SMEs. The results appear to be largely robust across different ICT adoption measures.     

Are ICT,Workplace Organization,and Human Capital Relevant for Innovation? A Comparative Swiss/Greek Study

This paper investigates and compares the relationships for Swiss and Greek firms between indicators for the intensity of use of modern information and communications technologies (ICT), several forms of workplace organization, and human capital, on the one hand, and several measures of innovation performance at firm level, on the other hand. For the Swiss firms, we find that ICT contribute to innovation activities (a) as enablers of process innovation (but not of product innovation) and (b) as means for increasing the efficiency of the R&D process. The organizational variables for “work design” and “employee voice” show significant positive correlations for most innovation indicators. Human capital matters primarily for R&D activities. The findings for the Greek firms indicate positive correlations of ICT with product and process innovation and of new “work design” with product innovation and R&D. No correlation of human capital with innovation could be found. No complementarities for the three factors with respect to innovation performance could be detected in either country.     

Strategies for ICT product diffusion: the case of the Korean mobile communications market

The purpose of this study was to analyze the mobile communications market before and after saturation and to discuss the changes in diffusion factors by the ICT generations in order to understand the effects of overshooting and innovations. According to the analysis, (1) the expansion of ICT products is increasingly influenced by innovation due to overshooting occurs after market saturation, (2) SNS, a topic of intense contemporary significance, impacts the spread of ICT products by creating social networks, and (3) as the technology generation progresses, the innovation effect increases and the imitation effect decreases for ICT product spreading. These results imply that technology innovation is the most important strategy for ICT product distribution. Because post-adopters have a high desire to consume new ICT products, technological innovation can cause demand among post-adopters.     

Intellectual capital and new product sale performance of the financial services industry in Taiwan

This research considers the financial services industry in Taiwan and investigates the effect of intellectual capital – namely human capital, organization capital and information capital – on new product sale performance based on cross-functional integration and co-production. The results indicate that intellectual capital, cross-functional integration and co-production have a positive effect on new product sale performance. Also, the results confirm the positive mediate effect of cross-functional integration and co-production on intellectual capital and new product sale performance.     

The impact of the information and communications technology revolution on the internationalisation of corporate technology

The rising pace of technological change in information and communications technology (ICT) has doubtless provoked the rise of “techno-globalism” at a cross-firm level by providing a new mode of diversification. As a result of the increasing process of technological interrelatedness, the specialisation in a core pervasive technology (as ICT is nowadays) allows the firm to develop tacit capabilities, which, in turn, facilitate its corporate activity in different kinds of technology across national boundaries in an intra-firm network. Therefore ICT can be view as a platform for entry into new products as well as an enabler of fusion of technology.This paper investigates whether the increased specialisation in ICT has influenced the geographical diversification or internationalisation of firms. The association between the two phenomena is found in the later (but not in the former) period under analysis. By adopting a more detailed level of sectoral aggregation within the ICT field, the econometric analysis seems to indicate computing (rather than communications) as the ICT component driving the relationship between internationalisation of research and development activity and ICT specialisation.     

Cross-country differences in ICT adoption: A consequence of Culture?

The diffusion of information and communication technology (ICT) has witnessed a surge in recent years. The rate of adoption across countries diverges considerably regardless of the income levels. In this paper, we attempt to explain the differences in ICT adoption rates across countries by using Hofstede's cultural framework. The effect of culture on ICT adoption is explored by applying two different measures of ICT adoption, namely the average share of ICT spending in GDP across 42 countries, and per capita computer across 49 countries. The results suggest that the national culture and the ICT adoption rate of a country are closely related. It appears that most of the Hofstede dimensions are important in influencing ICT adoption, thereby confirming our hypotheses. In particular, the power distance and the uncertainty avoidance dimensions seem to be the most important ones. These results are robust in both datasets, even after controlling for levels of education and income.     

THE UNEQUALIZING EFFECTS OF ICT ON ECONOMIC GROWTH

We analyse the effects of information and communication technology (ICT) on levels and growth of per capita GDP in two different ways: (1) by treating ICT as a specific type of physical capital and as a variable that helps to correct for quality existing physical capital measures, and (2) by considering that telephone lines, personal computers and internet hosts are ‘bottleneck‐reducing’ factors that increase the productivity of labour by making easier the diffusion and processing of (non‐rivalrous and almost non‐excludable) knowledge. We compare the relative significance of the two hypotheses in level and growth estimates and find that, when separately taken, both of them improve upon the classical Mankiw et al. (Quarterly Journal of Economics, Vol. 107 (1992), pp. 407–437)/Islam (Quarterly Journal of Economics, Vol. 110 (1995), pp. 1127–1169) framework. These findings show that our approach captures dimensions of time‐varying country‐specific technological progress that previous approaches in the literature did not take into account.     

ICT,conflicts in financial intermediation and financial access: evidence of synergy and threshold effects

In this study we investigate the role of information and communication technology (ICT) in conflicts of financial intermediation for financial access. The empirical evidence is based on contemporary (or current values) and non-contemporary (or lagged by a year) quantile regressions in 53 African countries for the period 2004-2011. The main findings are: First, the net effect of ICT in formalization for financial activity in the banking system is consistently beneficial with positive thresholds. The fact that corresponding, unconditional and conditional effects are persistently positive is evidence of synergy or complementary effects. Second, the net effect of ICT in financial informalization for financial activity in the financial system is negative with a consistent negative threshold. Hence, the positive (negative) complementarity of ICT and financial formalization (informalization) is an increasing (decreasing) function of financial activity. Policy measures on how to leverage the synergy or complementarity between ICT and financial formalization in order to enhance financial access are discussed.     

印度班加罗尔信息产业集群研究

印度班加罗尔信息产业集群近年来取得了十分迅猛的发展,成为发展中国家发展高科技产业的成功范例。从介绍该产业集群的历史和现状入手,分析了班加罗尔的五方面主要成功因素,并对班加罗尔信息产业的集群效应进行了探讨。同时,为我国发展信息产业集群提出了政策建议。     

风险投资对创业企业作用的实证研究

文章从风险投资对创业企业作用的机理分析出发,实证研究风险投资对创业企业创生和企业成长的作用。对企业创生作用的研究表明风险投资活动的发展和增长有助于地区新企业的创生,一方面风险投资为那些无法从传统渠道融资的创业企业提供资金支持,另一方面也刺激地区创新,促使新经济部门、新技术、新产品的出现,为创业者创业活动提供更多机遇。有关风险投资对创业企业成长作用的研究采用倾向得分匹配法,该方法有效剔除了风险投资家“选择作用”对研究结果造成的偏差。研究结果表明风险投资不但有助于企业规模的不断扩大,同时也有助于企业研发创新等各项成长能力的提升,有效促进了企业竞争优势,帮助企业做大做强。     

Exploiting ICT potential in service firms in transition economies

Service industries are the most intensive users of information-communication technology (ICT) and some developed countries have already displayed noticeable productivity gains due to ICT use in services. The pattern of intensive use of ICT in services tends to be replicated in transition economies, however the evidence of ICT impacts on growth and productivity is lacking at the aggregate and industry level owing to deficient data and methodological problems. To overcome some of the problems in estimating the effects of ICT use we pursue firm-level analysis and apply production function approach to estimate the impact of ICT on the performance of service firms in Slovenia. The results suggest that service firms are more intensive ICT users than manufacturing firms and that ICT use significantly influences the productivity of service firms. The positive impact of ICT use on productivity applies to all service firms irrespective of their size. The links are stronger for service firms with above average ICT use. Due to the absence of data on complementary expenditures for training and organisational change related to ICT adoption the results might overemphasise the effects of ICT investment.     

Cooperation as a Mediator between ICT and Export Success

The use of new information and communication technologies has been reshaping the export paradigm for more than a decade and exponentially increasing the possibilities of the exporting companies in international markets. The Internet improves establishing contact with partners in other countries for trade, optimizes daily communication with them, and makes companies more efficient in finding information on the markets they are reaching. According to these implications, to what extent do new technologies have a positive impact on the success of companies abroad? Does the use of these technologies facilitate cooperation between exporters and trading partners in the export destination country? The purpose of this research is to examine the influence of Internet technology upon export success when companies use this technology to find relevant information on foreign markets, improve communication in the business process, and enhance contacts with customers and distributors in distant countries. This study reveals that cooperative relationships between export companies and their foreign customers/distributors have a mediating effect between ICT and export success. Moreover, a surprisingly low significance of using ICT to support sales activities and develop lasting business relationships on export success has been found.     

风险投资介入中小企业公司治理的机理与效果研究

随着深圳创业板的推出,我国风险投资业再一次迎来了发展的高峰。本文对风险投资介入被投资企业公司治理的过程进行了分析,并以深圳中小板上市的企业为样本,对我国风险投资介入被投资企业公司治理的效果进行了研究,结论显示我国风投介入中小企业公司治理的效果并不明显,除对市场价值有所提升外,对治理水平和企业绩效的影响都不显著,这说明我国风险投资业还需要很大的完善。     

Value co-creation via information and communications technology

The aims of the present work centre on determining whether co-created value constitutes a competitive advantage for firms, and whether it is capable of influencing consumer behaviour. Applying the service-dominant logic perspective, the work examines the firm's capabilities in the context of its business-to-customer (B2C) interactions, focusing on information and communications technology (ICT) as a particular driver of value co-creation. Taking this B2C perspective, ICT is measured, from the firm's point of view, and customer perceptions are analysed, using the variables ‘value co-creation’, ‘perceived value’ and ‘loyalty’. The sample consists of 100 service firms and 572 of their customers. The findings indicate that ICT capabilities have a direct effect on value co-creation, as does value co-creation on perceived value and loyalty.     

Europe Needs More Lisbon to Make the ICT Investments Effective

While the renewed Lisbon strategy has emphasised the potential role that ICT can play in meeting the challenges of boosting growth and competitiveness in the EU, there is no clear understanding of the way ICT could complement the structural reform programme which is at the core of that strategy. The evidence presented in this paper suggests that higher market rigidities in the EU have deterred ICT investment and ICT contribution to GDP growth. The data used for ICT investment and ICT contribution to GDP growth is taken from the Groningen Growth and Development Centre database available at http://www.euklems.net. The views expressed by the authors are not necessarily those of the European Commission. Any errors are theirs alone.     

资本品进口、资本技能互补与中国的相对工资差距

中国是资本品净进口国,资本品进口引致资本积累并通过资本与技能互补效应增加对熟练劳动力的相对需求,是影响熟练劳动力与非熟练劳动力之间相对工资差距的一个重要机制。文章实证检验了资本品进口与中国熟练劳动力的互补效应及其对中国相对工资差距的影响。研究结论表明：资本与技能互补效应在中国长期存在,资本品进口促进了中国的资本积累,并通过资本与技能互补效应提高了熟练劳动力的边际产出,增加了对熟练劳动力的相对需求,扩大了相对工资差距。然而,劳动力的相对数量效应和相对效率效应对中国不断扩大的相对工资差距的解释力不强。     

Trade in Services and TFP: The Role of Regulation

What determines total factor productivity (TFP) growth in services: is it services trade or services–trade regulation? To respond to this question, we use four indicators of international trade in services since 1990 to 2005, namely foreign direct investment (FDI) inward stock, services imports, domestic sales of foreign affiliates (FATS) and FDI inflows, to examine what type of services trade forms a direct determinant. Subsequently, we analyse what type of sector‐specific regulation has played an inhibiting effect on services TFP growth. Such analysis contrasts with former studies in which mainly factor inputs and economy‐wide regulation are used to explain services TFP. This paper provides evidence that neither trade nor entry barriers are robust determinants to explain cross‐country differences. Instead, regulations on operational procedures affecting the variables costs structure of the firm seem to play a more important role in explaining TFP growth between countries, particularly in combination with information and communication technology (ICT) capital.     

双循环格局下“引进来”与“走出去”能否纠正资本错配?——来自省级层面的经验证据

提高资本配置效率是加快构建双循环新发展格局的重要抓手。在测算分析中国各省份资本错配程度的基础上,通过构建面板数据模型实证检验了"引进来"与"走出去"的资本错配纠正效果。研究结果表明:中国大部分省份的资本错配程度呈下降趋势,但省域之间资本错配程度的非均衡性特征突出,中西部地区的资本错配程度明显高于东部地区;"引进来"与"走出去"有助于提高资本配置效率,起到纠正资本错配的效果;"引进来"与"走出去"战略能够有效地纠正中西部地区的资本错配,提高其资本配置效率,但其在东部省份的作用效果并不明显。在考虑反向因果和异常值的影响后,研究结论依旧稳健。     

ICT as facilitator of internationalisation in small- and medium-sized firms

Based on harmonised and uniquely linked firm-level datasets for a large group of European countries, this study investigates the role of different information and communication technology (ICT) capacities in the internationalisation of small- and medium-sized firms (defined as having 10–249 employees). Both the decision to export and the export intensity are explored in this respect. The different ICT capacities are captured by online presence (having a website), online transactions (e-sales activities) and proportion of employees with broadband internet access or post-upper secondary ICT education. The results show a significant and positive relationship between the ICT capacities and the engagement in exporting activities of small- and medium-sized firms, although the kind of ICT capacity of importance seems to vary across countries. In countries where the ICT usage in firms is less developed, mainly basic capacities such as online presence are related to the decision to export. There are also indications that the export intensity is more strongly related to advanced ICT capacities than the pure decision to export.     

Does ICT adoption improve access to credit for small enterprises?

Using data at the bank–firm level collected through the 9th UniCredit Survey conducted in 2012 on a large sample of small businesses, we investigate the extent to which a large international bank offers better credit conditions to enterprises that use ICT more extensively. The results, which are robust to selection and endogeneity issues, show that banks tend to grant increasing volumes of credit to such enterprises. We interpret this evidence as the ceteris paribus effect of ICT adoption by small businesses on the quality of information transmitted to banks. Another possible interpretation is that banks consider ICT adoption as a signal of firms’ willingness to innovate. We also discuss implications concerning the key role that technology plays in changing the ‘arm’s length’ versus ‘relationship’ lending paradigms.