共查询到20条相似文献,搜索用时 15 毫秒
1.
Tadahisa Koga 《Small Business Economics》2005,24(1):53-62
This paper examines whether public R&D subsidies constitute a substitute or complement for private-financed R&D. The empirical analysis is based on a panel data of 223 Japanese high-technology start-ups. Our evidence is consistent with the complement hypothesis, i.e., that publicly-funded R&D does promote private R&D. The complement effects are stronger for more mature firms. This is because such firms, in the growth phase, might have greater demands for R&D funds. 相似文献
2.
The roles of R&;D in new firm growth 总被引:2,自引:0,他引:2
Innovative start-ups are an important driver of economic growth. This article presents empirical evidence on the effects of
research and development (R&D) on new product development, interfirm alliances and employment growth during the early life
course of firms. We use a dataset that contains a sample of new firms that is representative of the whole population of start-ups.
This dataset covers the first 6 years of the life course of firms. It is revealed that R&D plays several roles during the
early life course of high-tech as well as high-growth firms. The effect of initial R&D on high-tech firm growth is through
increasing levels of interfirm alliances in the first post-entry years. R&D efforts enable the exploitation of external knowledge.
Initial R&D also stimulates new product development later on in the life course of high-tech firms, but this does not seem
to affect firm growth. R&D does not affect the growth rate of new low-tech firms, which seem to be driven mainly by the growth
ambitions of the founding entrepreneur. The results show that R&D matters for a limited but important set of new high-tech
and high-growth firms, which are key in innovation and entrepreneurship policies.
相似文献
Karl WennbergEmail: |
3.
This study examines the impact that research and development (R&D) intensity has on corporate social responsibility (CSR).
We base our research on the resource-based view (RBV) theory, which contributes to our analysis of R&D intensity and CSR because
this perspective explicitly recognizes the importance of intangible resources. Both R&D and CSR activities can create assets
that provide firms with competitive advantage. Furthermore, the employment of such activities can improve the welfare of the
community and satisfy stakeholder expectations, which might vary according to their prevailing environment. As expressions
of CSR and R&D vary throughout industries, we extend our research by analysing the impact that R&D intensity has on CSR across
both manufacturing and non-manufacturing industries. Our results show that R&D intensity positively affects CSR and that this
relationship is significant in manufacturing industries, while a non-significant result was obtained in non-manufacturing
industries. 相似文献
4.
This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints
in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by
mark-ups, are more decisive for R&D than for capital investment. For external constraints, we find a monotonic relationship
between the level of constriction and firm size for both types of investment. Thus, external constraints turn out to be more
binding with decreasing firm size. On the contrary, we do not find such monotonic relationships for internal constraints.
Differentiation by firms’ age does not support lower constraints for older firms. 相似文献
5.
The importance of retail brand equity and store accessibility for store loyalty in local competition
Bernhard Swoboda Bettina Berg Hanna Schramm-Klein Thomas Foscht 《Journal of Retailing and Consumer Services》2013,20(3):251-262
Previous research shows that the success of a retailer depends on strong retail brands and attractive, easily accessible store locations. However, little is known about the relative importance of retail brand equity and store accessibility for store loyalty in different local competitive contexts. To provide insight into this issue, we conduct on a cross-sectional study of 4151 interviews and objective data on 30 stores of a focal retailer and its local competitors. We find that store loyalty benefits more from a strong brand than from a conveniently accessible location and that location can benefit from a strong brand. We also find that competitor’s brand equity has an especially negative influence on store loyalty towards a focal retailer and that the strength of the effects of brand equity and location accessibility on store loyalty depends on the local competitive context. 相似文献
6.
The formation of R&D alliances has become an increasingly popular way to achieve improved innovation outcomes. However, R&D alliances face high failure rates due to the dual nature, cooperation and competition, of what can be a very challenging inter-firm relationship, a problem that is compounded when an alliance involves more than two partners. As such, it is important to understand the mechanisms that encourage cooperation in multilateral alliances to help firms achieve desired innovation outcomes. In this study, we hypothesize two such mechanisms: equity governance structure and multi-technology scope. We test our hypotheses using panel data from the pharmaceutical industry spanning 15 years. Our results support the idea that equity governance and having a multiple technology scope are positively related to innovation outcomes in multilateral alliances. 相似文献
7.
Top management team characteristics,R&;D investment and capital structure in the IT industry 总被引:1,自引:0,他引:1
This paper is based on agency theory, resource-based and upper-echelons perspectives to examine the relationship between R&D
investment and capital structure and the moderating effects of top management team (TMT) characteristics on the financing
decisions of R&D investment in small and medium enterprises (SMEs). Using data for SMEs in Taiwan’s IT industry, we find that
(1) SMEs involved in R&D activities tend to have lower debt levels and (2) TMT characteristics exert considerable influence
on the R&D investment-financial leverage relationship in SMEs. One important implication of the empirical evidence is that
for SMEs trying to compete on the basis of innovation, the TMT characteristics significantly influence financing decisions.
As innovative activities increase, the selection and development of top executives, who are responsible for choosing an optimal
capital structure that could keep financial costs low while providing sufficient financial resources for maintaining a continuous,
uninterrupted rate of R&D, is crucial for SMEs. 相似文献
8.
9.
Public comments criticizing the honesty and trustworthiness of Professionals in Finance (PIFs) are commonly seen as a way to motivate them towards engaging in more socially responsible business practices. However, the link between public views of this professional group, the self-views of individual group members, and their motivation to engage in Corporate Social Responsibility (CSR) activities has not been empirically examined. In this research, we draw on Social Identity Theory (SIT) and the Behavioral Regulation Model for social evaluation (BRM) to examine how the self-views of individual group members relate to perceived characteristics of their professional group, indicating Competence and Morality. In two studies (N = 123, 191) we examined whether the self-views of high-profile and general PIFs are affected by other people's perceptions of the honesty and trustworthiness of this professional group. The results offer support for our reasoning derived from SIT and the BRM. In both studies, we first demonstrate that public concerns about the group's lack of honesty and trustworthiness impact on the moral self-views of financial professionals. Subsequently, we employ an experimental design to reveal that reinforcing moral criticism leveled at the group only reduces the motivation of individual group members to engage in CSR activities, while group-level moral affirmation enhances this motivation. The results of both studies converge to demonstrate how public critique on the moral behavior of their professional group relates to the self-views and behavioral motives of PIFs. We consider the theoretical and practical implications of these findings. 相似文献
10.
Wilfried Guth 《Intereconomics》1979,14(6):267-273
The foreign capital requirements of less developed countries (LDCs) are basically the result of their huge volume of investment which far exceeds their actual saving potential. In addition, their capital needs are steadily rising owing to inflation and—not least—to the higher cost of energy. As there is no standard recipe for development finance, the following article gives a survey of the major sources of capital. 相似文献
11.
12.
13.
The determinants of cross-border equity flows 总被引:6,自引:0,他引:6
We explore a new panel data set on bilateral gross cross-border equity flows between 14 countries, 1989-1996. We show that a “gravity” model explains international transactions in financial assets at least as well as goods trade transactions. Gross transaction flows depend on market size in source and destination country as well as trading costs, in which both information and the transaction technology play a role. Distance proxies some information costs, and other variables explicitly represent information transmission, an information asymmetry between domestic and foreign investors, and the efficiency of transactions. The geography of information is the main determinant of the pattern of international transactions, while there is weak support in our data for the diversification motive, once we control for the informational friction. We broaden the scope of our results by presenting some evidence linking the results on equity transactions to equity holdings. 相似文献
14.
《The Cornell hotel and restaurant administration quarterly》1996,37(4):43-49
Offering dinner can add to a B&B's bottom line, but it can change the inn's focus and runs the risk of overwhelming the operators. 相似文献
15.
《Emerging Markets Review》2002,3(4):338-364
The portfolio flows of institutional investors have been found to be highly persistent across countries and individual investment funds. This paper investigates the source of this persistence in emerging market equities. We employ the decomposition methodology in NBER Working Paper no. 9079 (July 2002), which decomposes the persistence of flows into four components: (i) own-country, own-fund persistence (which might arise from informed trading within each country by individual funds); (ii) own-country, cross-fund persistence (which might arise from asynchronicities across funds); (iii) cross-country, own-fund persistence (which might arise from asynchonicities within a fund) and (iv) cross-country, cross-fund persistence (which might arise from other reaction lags—such as contagion—across both countries and funds). We find evidence that all four components are positive in emerging markets. Our results differ from those in developed countries, in that we attribute approximately 10–20% of total persistence to cross-country effects (iii) and (iv). These findings are consistent with stories of contagion, which suggest that demand shifts move predictably from one country to another. They cannot easily be explained by informed trading alone or by wealth effects. 相似文献
16.
中国农村金融体系的制度变迁 总被引:1,自引:0,他引:1
本文对农村金融体系中的农村政策性金融、商业性金融和合作性金融这三个正规金融组织在改革开放之后各个重要发展阶段的制度性变化进行了研究。研究发现,农村政策性金融、商业性金融和合作性金融这"三驾马车"在制度变迁过程中职能逐渐明确;农村金融和农村经济之间相互依存、相互影响的关系在我国的农村制度变迁过程中表现得尤为突出。 相似文献
17.
18.
我国酒店财务管理内部控制探讨 总被引:3,自引:0,他引:3
曾敏 《中国对外贸易(英文版)》2010,(22)
酒店业在我国竞争激烈.本文就酒店业财务内部控制的必要性,在操作中存在的问题的现状进行了阐述,提出了酒店业加强财务内部控制的几点建议. 相似文献
19.
《The Columbia journal of world business》1996,31(1):60-68
As an investment banker in London, the author witnessed the massive run-up in Latin American public equities during the early 1990s and began to consider the potential for adapting the European model of development capital to Latin America. The author and a small number of other investors began looking beyond the public equity boom, recognizing that the biggest returns had already been made by local entrepreneurs who had entered the market early. Following in the steps of the local entrepreneurs who had been investing in and turning around local companies for years, the author and other investors established investment funds and sought out privately owned Latin American companies that were either poorly capitalized or mismanaged. In a matter of four years, foreign and indigenous pools of funds dedicated to private, unquoted investments in Latin America has grown from near zero to an estimated $1.5 billion. And the pool continues to grow. The author tracks this investment phenomenon and assesses the prospects for these and future Latin American funds, in light of the economic and political stabilization of many Latin American countries and the ambitious infrastructure development programs across the region. 相似文献
20.
This paper aims at studying the interactions between brand and customer assets over the long-term. Through the application of a new behavioural measure called the brand health index (BHI) we examine the impact of brand health on customer equity, and its mediating impact on the advertising-customer equity relationship. Three services industries, department stores, airlines, and banking, were studied from 2001 to 2012. The results show that brand health has a positive impact on customer equity, although the magnitude of the BHI impact varies across different industries. Moreover it was demonstrated that brand health mediates the impact of advertising on customer equity. 相似文献