Catch‐up through Collaborative Innovation: Evidence from China

Collaborative innovation has received the attention of management scholars for decades. The primary focus of our research is to explore the mechanisms that drive innovation catch‐up of latecomers in an emerging economy through research and development collaborations (i.e., academic and industrial collaborations). Using a sample of 1,066 firms in a high‐tech cluster in China, we find that collaborative innovation strategy has an inverse U–shaped effect on a firm's innovation performance. In addition, the relationship between collaborative innovation strategy and innovation performance is positively moderated by absorptive capacity © 2016 Wiley Periodicals, Inc.     

政府补贴、国际知识产权保护与企业创新——来自战略性新兴产业上市公司的证据

政府补贴对企业创新的影响存在争议,在美国重点打击中国战略性新兴产业的背景下,补贴这一产业政策的有效性再次引起热议。本文以2012-2017年沪深A股战略性新兴产业上市公司为样本,研究在国际知识产权保护加强的背景下政府补贴对战略性新兴产业创新绩效的影响。研究发现:中国政府实施的补贴政策有利于促进战略性新兴产业创新,但国际知识产权保护加强约束了中国政府补贴的规模和空间,从而抑制了补贴政策对战略性新兴产业创新的激励作用;此外,基于企业和产业异质性视角,国际知识产权保护的加强主要抑制了补贴对国有企业、内资企业和新材料产业创新的促进作用。进一步完善补贴政策和国内的知识产权保护制度,有利于提升中国在构建国际经济新秩序中的话语权。     

Cluster-Based Advantages in the Innovation Process: The Diffusion of Nanotechnology in Two Chinese Cities

Researchers have shown that “cluster” is a more useful unit of analysis than “nation” in innovation studies. Clusters are characterized by interconnected organizations, shared resources and frequent knowledge flows. Within national boundaries, multiple clusters with different relative advantages may coexist, and exhibit very different innovation patterns. Yet, in studies of innovation in emerging economies, there remains little attention on cluster-based advantages, and how these advantages generate distinct patterns of innovation. To bridge this gap, this study analyzes the diffusion patterns of nanotechnology in two Chinese clusters—Beijing and Shanghai. With different relative advantages, the diffusion of nanotechnology has been oriented by different levels of “imitation” and “innovation” forces in the two Chinese clusters. This study applies the Bass Model to quantify imitation and innovation forces, and compare the resultant diffusion patterns of nanotechnology in the two clusters with other technologies. Supplementary qualitative data is also provided to show how Chinese scientists perceive their relative advantages in different clusters. Among other things, the findings suggest that scientists of emerging economies favor the learning-by-doing principle while utilizing external networks.     

基于流通创新的现代生产者服务业内在机制分析

生产者服务业在现代服务业中的比重不断提高,逐渐成为现代服务业的主体部分。分工的深化、经济结构的升级推动了流通功能的演变,同时也推动了流通创新,产生了效率更高的流通组织形式和流通服务提供方式。在新型产销关系下,现代生产者服务与流通服务逐渐实现了"分业经营"向"混业经营"转变的背景下,文章基于流通创新的视角,对现代生产者服务业进行了分类,从产品服务、要素服务和专业服务三者之间的关系入手,分析了现代生产者服务业的内在机制。     

顾客参与新产品开发的绩效影响:产品创新类型的调节效应

顾客参与企业新产品开发对新产品开发绩效有着重要影响,在处于转型经济背景下的中国进行相关研究更有着极为重要的战略意义。文章以B-B市场中的制造企业为研究对象,构建了以产品创新类型为调节变量的顾客参与对新产品开发绩效差异化影响的调节效应模型。研究表明,顾客参与对新产品开发时间绩效与创新绩效的积极影响会受到产品创新类型的调节作用;但产品创新类型对顾客参与和财务绩效关系的调节影响不显著。     

The Impact of Knowledge Acquisition and Absorptive Capacity on Technological Innovations in Developing Countries: Evidence From Egyptian Small and Medium-Sized Enterprises

The author examines the determinants of technological innovations in Egyptian manufacturing and service small and medium-sized enterprises. Three categories of determinants are explored: (a) firms’ exposure to external knowledge and technologies, (b) firms’ absorptive capacity, and (c) financial and market barriers to innovation. A large dataset derived from the 2009 Egyptian innovation survey is used to estimate two binary logit models of factors explaining firms’ propensity to innovate in the manufacturing and service sectors. Results show that Egyptian manufacturing and service small and medium-sized enterprises follow similar paths to innovate and confirm the assumption that the catching-up reality in most developing countries makes the patterns followed by firms to innovate fundamentally different from those applied in countries at the technology frontier.     

A componovation perspective of innovation in emerging markets: Evidence from Indian organizations

In todays market landscape firms can effectively compete without the benefit of resource advantages, proprietary technology, or market power but by being more aligned towards creative combination and responsive innovation. This study approaches the concept of componovation from the composition based view (CBV) developed by Luo and Child. The CBV emphasizes how firms with ordinary resource endowments can achieve outstanding results through the creative use of open resources and unique integrating capabilities that result in an enhanced speed and a value‐price ratio that are well suited to large numbers of mass market consumers. Thus componovation is a new approach aimed at innovation in emerging markets.     

Protecting Innovation Through Patents and Trade Secrets: Evidence for Firms with a Single Innovation

Abstract

This paper analyzes the use and effectiveness of patents and trade secrets designed to protect innovation. While previous studies have usually considered patents and trade secrets as substitutes for one another, we investigate to what extent and in what situations the two protection methods are used jointly. We identify protection strategies for single innovation firms and hence overcome the assignment problem of existing empirical studies, that is, whether firms using both protection methods do so for the same innovation or for different innovations. Employing firm panel data from Germany, we find fairly few differences between the determinants for choosing secrecy and patenting. Single innovators that combine both strategies, 39% of the group, tend to aim at a higher level of innovation and act in a more uncertain technological environment. Firms combining both protection methods yield significantly higher sales with new-to-market innovations, providing some evidence for a complementarity of the two protection methods.     

Limits to Arbitrage and Value Investing: Evidence From Brazil

ABSTRACT

In this article we show that the results obtained by accounting-based fundamental analysis strategies observed in the US market cannot be directly extended to emerging markets with less developed institutional environments and narrow equity markets as found in Latin America. We use Brazil as a special case and through standard tests show the apparent usefulness of financial statement analysis as an effective investment tool. We show that an investor could have changed his/her high book-to-market (HBM) portfolio one-year (two years) market-adjusted returns from 5.7% (42.4%) to 26.7% (120.2%) by selecting financially strong HBM firms listed on the São Paulo Stock Exchange. Our tests were performed using stock returns from 1995 to 2007 and financial and accounting data from 1994 to 2004. When one considers low book-to-market (LBM) firms, the results of the study indicate that an investor could change his/her mean (median) one-year market adjusted return from ?11.9% (?7.4%) to 8.1% (2.5%) by adopting the strategy proposed. However, additional investigation demonstrates that the returns generated by these strategies are significantly dependent on stock's liquidity, and when we consider only stocks where arbitrage is possible, the previous results do not hold. These findings contribute to the literature that tries to address the impact of limits to arbitrage on some well reported capital markets phenomena related to financial reporting.     

Country of Production Biases on Consumer Perceptions of Global Brands: Evidence From an Emerging Market

ABSTRACT

Globalization has created significant opportunities of cost reductions for players to take advantage of location specific benefits. Simultaneously, it has presented significant opportunities for countries, such as China, to actively participate in global trade, attract foreign direct investment, and improve the economic wealth of their nations. However, literature cautions marketers about consumers’ biased evaluations of products based on their country of production. Moving production to low-cost countries could potentially harm brand trust, quality evaluations, and purchase intentions due to unfavorable biases for the country of production. The objective of this study is to investigate country of production biases of Turkish consumers for two global brands, Philips and Adidas. Data for the study (N = 1,608) were collected using mall-intercepts from the 17 largest cities of Turkey. Study findings show that brand trust, perceived quality, and purchase intentions declined sharply for both brands when consumers learned that the product was manufactured in China.     

中国金融制度的创新与发展

随着世界经济、金融的加速发展 ,2 1世纪的中国金融制度创新与发展面临着全新的外部环境。为了适应外部环境的发展 ,中国金融业应努力推进制度创新与发展 ,调整创新思维 ,强化微观金融主体在制度创新中的作用 ,正确处理金融监管与金融创新的关系 ,建立现代银行制度 ,制定制度创新的发展目标。     

Innovation patterns and their effects on firm performance

This study aims to identify various innovation patterns and understand their effects on firm performance across business service sectors. By collecting empirical data from 198 Korean business services firms, we explore these firms’ major innovation patterns, conceptualized as combinations of different service innovation dimensions: service concept, service delivery, customer interaction, and technology. Then, in accordance with the innovation patterns they display, we group these firms into four clusters: ‘service delivery-based high-technology', ‘service delivery and customer interaction-integrated', ‘customer interaction-based high-technology', and ‘strongly balanced’ innovators. Last, we investigate whether these patterns influence firm performance. Our findings are three-fold: (1) the innovation patterns in business service firms result from the creation of new combinations of major service innovation dimensions, (2) four independent innovation patterns emerge in business service firms, and (3) these patterns lead to different levels of firm performance. Practically, our findings highlight the importance of highly qualified employees, customer interaction, and technology in improving financial performance.     

全球价值链中零售企业创新战略研究

经济全球化时代零售企业竞争力的提高,取决于零售企业的全球价值链创新能力、整合全球客户资源和供应链资源的能力。7-11、宜家、沃尔玛、巴黎春天等跨国零售企业制定和实施了不同的全球价值链创新战略,吸引一流供应商和客户进入自身价值链,进而掌握了全球价值链主导权和控制权。     

Managing the Innovation Adoption of Supply Chain Finance—Empirical Evidence From Six European Case Studies

Logistics’ contribution to corporate performance has increased over recent years, particularly due to supply chain innovations. Opposed to common innovations focusing on the improvement of product or information flow, supply chain finance (SCF) targets the financial flow and allows buying firms and their suppliers to improve working capital and reduce costs. However, the adoption process of SCF is complex and rather unexplored in academia. This article provides an early step in building knowledge about SCF and in particular how firms adopt SCF, why they adopt differently, and what role suppliers play in the adoption process. The objective was therefore to close the gap between our knowledge on product and information flow oriented innovations and financial flow innovations along the supply chain, namely SCF. For this explorative research, we opted for an inductive multiple case study approach with six European firms. Based on our findings, four sets of propositions are posited and an extended SCF adoption framework is proposed revolving around the interrelated adoption processes of buying firms and their corresponding supplier bases.     

Open Innovation in Emerging Markets: A Business Model Perspective

There has been significant contribution to the management literature on open innovation and partnership strategy, detailing their nature and impact in a wide range of business environments. However, “strategic positioning” of the business model based on their interactions with other business entities has not received enough academic attention despite its implications for the new generation of start-ups in emerging markets who do not have any prior business models to emulate. This research conceptualizes a framework that would help strategists position their firm in the market by carefully analyzing its interactions with other business and social entities in the business eco-system.     

金融支持与战略性新兴产业发展研究:一个文献综述

建立良好的金融支持体系,充分发挥金融的支持功能,是实现战略性新兴产业快速发展的重要保障。现有研究对于金融支持战略性新兴产业发展的作用机理、战略性新兴产业发展的金融支持模式选择、战略性新兴产业发展的金融支持风险、金融创新与战略性新兴产业发展等问题进行了探索。     

自主创新能力与可持续发展

一个国家的自主创新能力与其科技创新体系密切相关。科技创新体系由政府、科研机构和大学、企业、市场四个部分组成,每个部分之间都存在效率问题,各环节的效率共同决定了该国的自主创新能力。对于科技界来说,重要的是评价现有的科技体系是不是最优,而科技体系不能以工业布局为依据来构建,应该找出各工业之间的共性技术,开发共性能力。可持续发展涉及经济、社会和自然及其相互关系,不能忽视任何一个方面。保持可持续发展必须使资源的供应量与消耗量相等,充分利用可再生能源,循环经济的重要作用就是在物质的循环和能量利用方面达到平衡,同时,实现可持续发展的一个重要条件是政府、企业、金融等方面密切合作。     

创新绩效角度的战略性新兴产业发展实证研究——以新能源产业为例

文章以新能源产业为例,根据《战略性新兴产业分类》,从中国工业企业数据库遴选出归属该产业的企业。利用微观企业层面的大样本数据,对企业创新绩效进行综合性研究。基于面板Probit计量模型的估计结果表明：企业的R&D投入、出口与否和企业知识积累对企业的创新产出有明显正向效应。企业规模、企业资本密集度等因素对创新产出的重要性因所有制不同而不同。政府需要采取有针对性的政策来诱导企业尽可能多地进行R&D投入,扩大出口以及增加企业本身知识积累。     

集群创新文化与产业集群创新发展

集群创新文化因素是产业集群创新发展的内在动力,也是集群间创新能力差异的重要根源。本文从产业集群视角分析了集群创新文化的内涵,提出集群创新文化包括价值创新文化、制度创新文化和环境创新文化,并从宏观和微观两个层面分析了集群创新文化对集群创新的内在作用机制,以及产业集群创新对创新文化的作用机制,探讨了集群创新文化与产业集群创新的协同发展路径。     

Measuring innovation in services: the role of surveys

The main aim of this paper was to analyse the role of European innovation surveys in measuring innovation in services. The various community innovation surveys (CISs) are analysed in the light of the three main theoretical approaches to innovation in services, namely assimilation, service-oriented and integrative. The analysis performed shows a gradual change in the way in which European surveys have been structured over time, highlighting a partial shift from the assimilation approach towards the integrative one. Furthermore, the paper provides a systematic assessment of the CIS experience and of the lessons to be drawn from it.