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Drawing upon data from a sample of 597 small manufacturing firms, the current paper hopes to contribute to the emerging body of empirical literature, which seeks to distinguish the characteristics of more and less innovative small...
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Drawing upon data from a sample of 597 small manufacturing firms, the current paper hopes to contribute to the emerging body of empirical literature, which seeks to distinguish the characteristics of more and less innovative small firms. Importantly, in so doing, a definition of innovation is employed which, at least partially, resolves many of the difficulties associated with operationalising the relativity of "innovativeness" and which places the emphasis upon innovation as a commercial, rather than a technological, phenomenon. To this end, a number of noteworthy observations are apparent. In broad terms, the paper points to the limits of viewing innovation output as a simple function of the volume of inputs. In other words, capability appears to matter at least as much as capacity. Moreover, the findings place the means of improving innovativeness firmly within the ambit of executives and suggest that these are likely to involve internal strategising and the development of human and intellectual capital.
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摘要 :
Drawing upon data from a sample of 597 small manufacturing firms, the current paper hopes to contribute to the emerging body of empirical literature, which seeks to distinguish the characteristics of more and less innovative small...
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Drawing upon data from a sample of 597 small manufacturing firms, the current paper hopes to contribute to the emerging body of empirical literature, which seeks to distinguish the characteristics of more and less innovative small firms. Importantly, in so doing, a definition of innovation is employed which, at least partially, resolves many of the difficulties associated with operationalising the relativity of "innovativeness" and which places the emphasis upon innovation as a commercial, rather than a technological, phenomenon. To this end, a number of noteworthy observations are apparent. In broad terms, the paper points to the limits of viewing innovation output as a simple function of the volume of inputs. In other words, capability appears to matter at least as much as capacity. Moreover, the findings place the means of improving innovativeness firmly within the ambit of executives and suggest that these are likely to involve internal strategising and the development of human and intellectual capital.
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Enthusiasm for crowdfunding's ability to fill gaps in the provision of entrepreneurial finance continues among academics, policymakers and practitioners. In this, increasing attention has been paid to the geography of crowdfunding...
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Enthusiasm for crowdfunding's ability to fill gaps in the provision of entrepreneurial finance continues among academics, policymakers and practitioners. In this, increasing attention has been paid to the geography of crowdfunding. This work has provided important evidence on various spatial influences on the location of platforms and campaigns and on their eventual success. In this paper, we take a rare look at the geography of the supply of crowdfunds. Specifically, our concern is with equity crowdfunding. Drawing on a hand collected data set, combining data on investments and on investors' locations, we explore spatial influences on the extent of crowdfunding investment beyond commonly explored issues of distance.
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Employing data from a sample of 1,161 small firms, the paper draws broad comparisons between patterns of innovation expenditure and output, innovation networking, knowledge intensity and competition within Knowledge-Intensive Busi...
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Employing data from a sample of 1,161 small firms, the paper draws broad comparisons between patterns of innovation expenditure and output, innovation networking, knowledge intensity and competition within Knowledge-Intensive Business Services (KIBS; N = 563) and manufacturing firms (N = 598). In so doing, KIBS are further disaggregated along lines proposed by Miles et al. (1995). That is, as technology-based KIBS (t-KIBS; N = 264) and professional KIBS (p-KIBS; N=299). However, detailing such broad patterns is preliminary. The principal interest of the paper is in identifying the factors associated with higher levels of innovativeness, within each sector, and the extent to which such "success" factors vary across sectors. The results of the analysis appear to offer support for some widely held beliefs about the relative roles of "softer" and "harder" sources of knowledge and technology within services and manufacturing (Tether, 2004), However, some important qualifications are also apparent.
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Abstract Research question/issue Innovation has been a constant feature of the tales of transition and transformation. State ownership as the engine of innovation and technological change may be juxtaposed with the “liability of ...
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Abstract Research question/issue Innovation has been a constant feature of the tales of transition and transformation. State ownership as the engine of innovation and technological change may be juxtaposed with the “liability of stateness” and the notion that “privatization works.” This study seeks to investigate the relationship between legal ownership and innovation inputs and outputs, while accounting for the moderating effect of institutional quality on this relationship. Research findings/insights We exploit unique data from a very large‐scale panel survey of enterprises (65,750 firms between 2006 and 2014) in Vietnam, a fast‐growing but understudied transition country, and apply advanced methodologies that control for the endogeneity of institutions. Our findings point to the continued dominance of state‐owned enterprises (SOEs) in innovation activities in Vietnam. However, the returns to innovation in SOEs accrue only up to a point and improving institutional quality serves to diminish their advantage over privately‐owned enterprises (POEs) and to level the playing field. Theoretical/academic implications We employ an integrated framework that develops predictions from resource dependence, agency, and institutional theories to explore the direct and contingent influences of ownership and institutional quality on firm‐level innovation activities. Our study contributes to the growing literature on state ownership and innovation in transition and emerging economies and the recent calls for greater attention to local institutional context and revising the existing theories on “state underperformance.” Practitioner/policy implications This study offers insights to policy makers in enhancing the quality of local institutions. Higher‐quality institutions moderate the advantages state ownership confers and ameliorate the disadvantages associated with private ownership.
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The article presents an analysis of a large-scale survey with the aim of understanding differences in the open, interactive and distributed nature of external innovation relations amongst firms belonging to different industrial kn...
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The article presents an analysis of a large-scale survey with the aim of understanding differences in the open, interactive and distributed nature of external innovation relations amongst firms belonging to different industrial knowledge bases. The thesis is that the source of critical innovation relevant knowledge differs between industrial knowledge bases, making the character and the need of openness contingent on these specificities. Accordingly, we anticipate that we will observe systematic variations in how industries access and combine innovation-related external knowledge. In our analyses we attempt to address a gap in the literature by examining how industrial knowledge bases affect the recombination of knowledge by analysing the different extents, forms (formal and informal) and geography of inbound open innovation. The article illustrates that features and structures of inbound open innovation align, to a large extent, with the industries' knowledge bases and that there is a interplay between an industry's knowledge base, the internal organisation of innovation processes and the channels and geography of inbound open innovation.
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Purpose - The purpose of this paper is to utilise a sample of 384 small and medium-sized enterprises (SMEs) who applied for external finance in the Beijing area of China to investigate the characteristics of firms against: the amo...
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Purpose - The purpose of this paper is to utilise a sample of 384 small and medium-sized enterprises (SMEs) who applied for external finance in the Beijing area of China to investigate the characteristics of firms against: the amount of external finance sought, the amount received, and the proportion of external finance which was received from the sought finance. Design/methodology/approach - The authors use a survey of SMEs in Beijing, China, undertaken between July and December 2007 where a response rate of 37.67 per cent was obtained. The survey was translated from English to Chinese, and then back translated from Chinese to English by academics with input from businesses. The sample of 384 firms is robust. Findings - Overall, there is little evidence in the sample of Chinese SMEs that innovative firms face discrimination from providers of credit. However, where innovation is measured by inputs (specifically R&D), providers of credit appear less comfortable. Three other factors were more important and were statistically significant at the 5 per cent level. For example, exporters were less likely to receive a greater proportion of their sought finance; and manufacturing firms were more likely than service sector firms, and limited liability companies were more likely than extended sole proprietorship firms to obtain a greater proportion of the external finance which they sought. Research limitations/implications - The sample for the research is from Beijing. Researchers may extent and role out the research to other parts of China. Practical implications - Practically, the authors explore variations in firm-level characteristics by: the amount of external finance sought, the amount of external finance received, and the ratio of "sought" to "received" external finance. In this way, the research questions are concerned with understanding which "types" of firms seek most bank finance, and which are most successful. This information is of benefit to SMEs, policy makers and those who work in the finance industry. Social implications - Access to finance is a cause of stress and anxiety to many SMEs. A greater understanding of the accessing of finance in Beijing China will allow entrepreneurs to be better placed to reflect upon their businesses and their suitability to pursue finance. This can help the economic and social well-being of entrepreneurs and their employees. Originality/value - There are comparatively few large scale surveys which have been undertaken of access to finance by SMEs in China, and within this field there is very little research which has been undertaken to look at innovators and non-innovators. The results allow us to have a better understanding of how much finance SMEs in Beijing are seeking, obtaining, and the proportion of finance received from that sought, and the extent to which innovation and other business and owner-manager characteristics are influential.
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Concerns that small firms encounter credit constraints are well entrenched in the literature, despite widespread empirical evidence that a relatively small proportion of small firms have their loan applications rejected. However, ...
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Concerns that small firms encounter credit constraints are well entrenched in the literature, despite widespread empirical evidence that a relatively small proportion of small firms have their loan applications rejected. However, many firms may be discouraged from applying for fear of rejection. These businesses are the focus of this paper. Based on responses to a large-scale postal survey of UK small and medium-sized enterprises (SMEs), we find that twice as many businesses were discouraged from applying for a bank loan than had their loan request denied. More particularly, we observe a number of distinguishing characteristics of “discouraged borrowers” (relative to applicants). These include: strategy, sector, prior entrepreneurial experience and banking relationships. The implications of our findings for policy and future research are briefly discussed.
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A cursory review of the industrial policies of most nations suggests that exporting matters. Identifying exporting firms and facilitating their endeavours (or encouraging others to emulate them) are familiar policy themes, and stu...
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A cursory review of the industrial policies of most nations suggests that exporting matters. Identifying exporting firms and facilitating their endeavours (or encouraging others to emulate them) are familiar policy themes, and studies of the relationship between firm characteristics and the propensity to export are common in the academic literature. Yet, the context for the bulk of these studies is provided by developed economies. To the extent that international trade relies upon specialisation and that broad differences exist in the patterns of specialisation between developed and developing economies, one wonders how well findings may be generalised to a developing context. Drawing upon firm-level data from a recent survey of small enterprises in Ghana (n = 500), the current study is concerned with identifying the characteristics of exporters in the three main non-governmental sectors of the Ghanaian economy (manufacturing, services and agriculture). Our interest is in Ghanaian economic development imperatives and in the extent of congruence between the findings of this study and previous developed economy studies.
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The literature on lending to small firms has primarily focused on the mechanisms and methods used to evaluate entrepreneurs and businesses and on the types of firms that are more likely to experience unfavourable application outco...
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The literature on lending to small firms has primarily focused on the mechanisms and methods used to evaluate entrepreneurs and businesses and on the types of firms that are more likely to experience unfavourable application outcomes. That is, the focus of most empirical research is on supply-side decisions. The current research attempts to shed some light on demand-side considerations. Drawing upon data collected as the UK SME Finance Monitor (2011-2014), we identify links between entrepreneurs' diligence, business risk and finance-related advice-seeking prior to initiating loan and overdraft applications. The results show evidence of the usefulness of advice in ameliorating, both structural and strategic, business risk and improving the prospects of successful debt applications to banks.
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