Collaboration and innovation: An empirical study of Indian technological enterprises

In 2010, the Indian government declared 2010–2020 to be the ‘Decade of Innovation’ and established the State Innovation Councils and Sectoral Innovation Councils to encourage and facilitate innovation by technological firms. In this paper, we study the relationship between collaboration and innovation in a cross‐section of Indian firms, paying particular attention to the impact of the innovation councils. Our results suggest that domestic collaborations have an important impact on firm innovation, as do the innovation councils, but that the impact of the councils is less for firms that collaborate.     

A New Typology for Economic Sectors with a view to Policy Implications

This paper is an attempt to tease out a typology of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The typology explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight goes back to Allyn Young (1928) and Joseph Schumpeter (1934) who argued that the introduction of new goods was the engine of economic growth. More precisely, our typology of sectors focuses on novel products which are efficiency-enhancing within and between sectors through the market mechanism. The scheme revolves around the relationship between 'Enabling' and 'Recipient' sectors (which gives the typology its name: ER), and offers a lens for viewing and interpreting a substantive part of the mechanics of modern economic growth. The last part of the paper briefly discusses a few immediate policy implications, although it has the potential for greater use and value in this regard.     

A tale of two countries: Directed technical change,trade and migratory movements

We propose a North-South model that reconciles trade and production strategies, flows of innovators and the path of economic divergence, or convergence, between countries. We explain the mechanisms behind these forces and show how the technological and economic gaps can be reversed if southern countries stop imitating northern goods and, instead, produce complementary goods. Such a strategy of complementarity on production yields the necessary incentives to innovators to engage in research in southern countries, which enhances the catching-up process between countries. It is also shown that migratory movements of unskilled labor between countries are also relevant to understand the dangers and benefits of different trade strategies for economic growth. This paper suggests a positive (negative) correlation between technological innovation in the North (South) and the level of substitutability in production, while under complementarity, technological innovation catches up in the South, therefore fostering the economic catching up process. A positive correlation between inflows of skilled and unskilled labor and substitutability of production between countries is also verified.     

创新驱动 推进转型 全面加快现代银行建设步伐

深化农村信用社改革以来,吉林省农村信用社不断增加涉农贷款投放规模,扩大农户贷款覆盖面,推进金融产品和服务创新,从而全面提升了支农服务水平。2012年,是"十二五"承上启下的重要一年,农村信用社积极推进产权改革、提升经营管理层次、不断提高发展质量、防范金融风险,这对促进吉林省经济社会发展具有十分重要的意义。     

技术创新视角下的政府积极干预

技术创新与政府干预是紧密联系在一起的：一方面，技术创新的过程离不开政府的干预；另一方面，技术创新目标的实现需要政府的干预来协调。政府实施正确的干预方式和政策对技术创新具有积极的促进作用。     

Does corporate social responsibility reduce financial distress risk?

This paper examines how corporate social responsibility (CSR) affects the level of financial distress risk (FDR). Using a sample of 1201 US-listed firms during 1991–2012, our results indicate that firms with higher CSR levels have lower FDR, suggesting that a better CSR performance makes firms more creditworthy and have better access to financing, which is rewarded with less financial defaults. This finding is robust to using alternative proxies of FDR, to controlling for potential endogeneity, and is mainly driven by the community, diversity, employee relations, and environmental dimensions of CSR. Moreover, this relationship is more prevalent in firms with strong governance mechanisms and high product market competition. It is also more exacerbated for less distressed firms and during non-crisis periods. Overall, our findings suggest that the adoption of CSR practices comes with less distress and default risks, likely leading to a more attractive corporate environment, better financial stability and more crisis-resilient economies.     

The cost of firms’ debt financing and the global financial crisis

We provide an assessment of the determinants of the risk premium paid by non-financial corporations on long-term bonds. By looking at 5500 issues over the period 2005–2012, we find that in recent years the sovereign debt market turbulence has been a major driver of corporate risk. Compared with the three-year period 2005–2007 before the global financial crisis, in the years 2010–2012 Italian, Spanish and Portuguese firms paid on average between 70 and 120 basis points of additional premium due to the negative spillovers from the sovereign debt crisis, while German firms received a discount of 40 basis points.     

政府补助对科技中小型企业成长的影响机理

采用创业板2011—2016年251家科技型中小企业数据,从研发经费投入和技术人员投入两个方面检验技术创新投入在政府补助对企业成长影响的中介作用,以及市场化进程和要素市场发育程度的调节作用。实证研究发现：①研发经费投入在政府补助对企业成长的影响中有中介作用,技术人员投入在政府补助对企业成长的影响中中介作用不明显;②市场化进程越高的地区,政府补助通过研发经费投入对企业成长的影响越强,政府补助通过技术人员投入对企业成长的影响也越强;③要素市场发育程度越好的地区,研发经费投入在政府补助与企业成长间的中介作用越强,技术人员投入在政府补助与企业成长间的中介作用也越强。     

面向区域创新发展的省级协同创新中心认定评价指标体系构建

省级协同创新中心作为地方协同创新体系的重要载体,不仅是区域创新发展的引领阵地,更是国家协同创新中心的前期培育。分析了开展省级协同创新中心认定评价的目的和意义,采用定性与定量相结合的综合评价方式,提出了面向区域创新发展的省级协同创新中心认定评价指标体系。     

突破性创新与既有企业战略变革：组织衰落及冗余资源的作用

探讨了突破性创新对既有企业战略变革的影响,检验了组织衰落在突破性创新和战略变革之间关系的中介作用,考察了冗余资源的调节作用。基于233个高新技术企业的实证研究发现,突破性创新对既有企业战略变革具有显著正向影响。其中,组织衰落起到部分中介作用;冗余资源不但正向调节突破性创新和既有企业战略变革之间的关系,而且增强了组织衰落的中介作用,存在被调节的中介效应。