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volume 51, issue 5, june 2022
1. title: modular structure in labour networks reveals skill basins
authors: neave o�clery, stephen kinsella
abstract: there is an emerging consensus in the literature that locally embedded capabilities and industrial know-how are key determinants of growth and diversification processes. in order to model these dynamics as a branching process, whereby industries grow as a function of the availability of related or relevant skills, industry networks are typically employed. these networks, sometimes referred to as industry spaces, describe the complex structure of the capability or skill overlap between industry pairs, measured here via inter-industry labour flows. existing models typically deploy a local or �nearest neighbour� approach to capture the size of the labour pool available to an industry in related sectors. this approach, however, ignores higher order interactions in the network, and the presence of industry clusters or groups of industries which exhibit high internal skill overlap. we argue that these clusters represent skill basins in which workers circulate and diffuse knowledge, and delineate the size of the skilled labour force available to an industry. by applying a multi-scale community detection algorithm to this network of flows, we identify industry clusters on a range of scales, from many small clusters to few large groupings. we construct a new variable, cluster employment, which captures the workforce available to an industry within its own cluster. using uk data we show that this variable is predictive of industry-city employment growth and, exploiting the multi-scale nature of the industrial clusters detected, propose a methodology to uncover the optimal scale at which labour pooling operates.
2. title: can direct innovation subsidies relax smes� financial constraints?
authors: rapha�l chiappini, benjamin montmartin, sophie pommet, samira demaria
abstract: financial constraints hamper the ability of small and medium-sized enterprises (smes) to undertake innovative activities, which, in turn, affects countries� long-term growth. therefore, promoting access to external funding for smes represents an important challenge for policymakers. this paper investigates whether innovation subsidies, provided by france's public investment bank to french smes, have translated into better access to both debt and equity financing by means of a certification effect. we exploit a unique database that collates the innovation subsidies received by french firms over the 2000-2014 period to construct a quasi-natural experiment and evaluate the causal impact of these subsidies on financial constraints for smes. we find a significant improvement in access to bank financing for subsidized firms, but the effect is heterogeneous and mainly concentrated on micro and small firms that have been operating for around six years. in contrast, we do not find any significant improvement in access to equity financing. we demonstrate that this last result is partly explained by a substitution effect between bank debt and equity financing.
3. title: new market creation through exaptation: the role of the founding team's prior professional experience
authors: fakher omezzine, isabel maria bodas freitas
abstract: this paper focuses on the creation of new markets through technological exaptation i.e. the repurposing of existing technologies to serve new functions in a different market domain. we conceptualize the ability of new ventures to create new market applications for existing technologies as dependent on the knowledge, skills, and cognitive frames developed by the founding teams� members during their professional careers. specifically, we hypothesize that the extent of the founding team's employment experience across different organizations influences the probability that the new venture will create a new market through technological exaptation. we also explain why experience in entrepreneurially prominent organizations changes this relationship at various levels of prior employment experience. we test our arguments using data on blockchain startups (and their founders/co-founders) in the worldwide energy sector established between 2010 and 2019. the results show that the likelihood that a new venture develops a new market application for blockchain technology in the energy sector is associated with the professional experience of the founding team members. we discuss the implications of these findings.
4. title: profiting from digital innovation: patents, k8凯发天生赢家 copyright and performance
authors: kevin j. boudreau, lars bo jeppesen, milan miric
abstract: it is yet unclear whether patents and k8凯发天生赢家 copyright are effective at protecting digital innovations. in this paper, we investigate this question using novel product-level data on mobile apps, in which we relate the use of both patents and k8凯发天生赢家 copyright to (i) revenue performance and (ii) ip licensing. we theorize that these relationships depend on differences in product-level characteristics and that apps differentiated by their design are more likely and effectively to be protected by patents; apps combining elements of differentiated content are more likely and effectively protected by k8凯发天生赢家 copyright. our results support these predictions that product characteristics shape the appropriate contingent use of patent and k8凯发天生赢家 copyright protection in digital products. these patterns are especially relevant to industries where digital products combine elements of differentiated design and differentiated digital content.
5. title: effects of catch-up and incumbent firms� sep strategic manoeuvres
authors: dong-hyu kim
abstract: this paper investigates the effects of standard-essential patents (seps) to identify strategic differences between firms in advanced countries and those in latecomer countries. by comparing the sep data-sets of incumbent and catch-up groups of the top 10 sep firms, this paper has discovered the following four main findings. first, sep strategic manoeuvres work as an effective way of expanding the sphere of catch-up firms� influence. particularly after passing a certain threshold, catch-up firms� technological influence increases in an exponential manner. second, for incumbent firms, sep strategic manoeuvres serve as a catalyst to deepen the development of self-reliant trajectories embodied in the history and future of standards. third, catch-up firms have specialised in short cycle technologies for self-reinforcing capability. fourth, the effects of sep strategic manoeuvres and international protection size on the likelihood of sep litigation are greater for catch-up firms than for incumbent firms. these findings highlight the dual role of standards-setting organisations (ssos) for catch-up firms (i.e., knowledge-learning and knowledge-diffusion spaces). for incumbent firms, these findings stress the importance of establishing reinforcing mechanisms to align long-standing self-reliant knowledge paths with the direction of anticipatory standardisation. this discovery provides strategic insights within the context of post catch-up strategy.
6. title: catching up with the market leader: does it pay to rapidly imitate its innovations?
authors: claudio giachetti, stefano li pira
abstract: in this study we attempt to shed more light on the relationship between speed of new technology imitation and the sales performance of the imitator compared to the innovator, with a particular focus on the performance outcomes resulting from the rapid imitation of technologies introduced by the market leader. using data on handset technologies mounted on more than 600 devices introduced to the uk market by 14 mobile phone vendors operating from 1997 to 2008, we study hundreds of imitative actions to test hypotheses on the extent to which an imitator can catch up (i.e., reduce the market share gap) with the market leader by rapidly imitating its innovations. first, we show that gaining advantage by rapidly imitating a technology pioneer is contingent on whether the pioneer is the market leader or a non-leader rival. second, we find that the risks of rapid imitation of the market leader's technologies are mitigated when industry clockspeed is high, i.e., during a period of fast innovation and imitation cycles in an industry, resulting in rapid variations in product design. third, we observe that the degree of competitive responsiveness of the technology pioneer when its innovations are imitated represents an important mechanism that can explain why speed of imitation may affect how an imitator can improve its market share gains relative to the pioneer. this paper advances competitive dynamics and imitation as predictive theories of how rapid imitators might catch up with market leaders in technology-intensive industries.
7. title: participation in setting technology standards and the implied cost of equity
authors: xin deng, qian cher li, simona mateut
abstract: this study empirically investigates the financial market's reaction to firms� participation in standard setting organizations (ssos) in terms of firms� implied cost of equity capital � the discount rate applied by investors to a firm's expected future cash flows. our analysis utilizes a panel of 3350 us public firms and their membership of 183 ssos operating in a range of technology domains between 1996 and 2014. it shows a significantly lower cost of equity for sso participants. we then empirically document a causal link between sso membership and a firm's cost of equity, by exploiting exogenous variations in membership count linked to sso closures and an instrumental variable measuring sso availability. our results underscore the important role of sso membership in mitigating the perceived riskiness of a firm, particularly when it faces high degrees of technological uncertainty, product-market uncertainty, and information asymmetry.
8. title: the ability of european regions to diversify in renewable energies: the role of technological relatedness
authors: rosina moreno, diego ocampo-corrales
abstract: despite the global consensus about the growing significance of renewables, the regional drivers of innovation in these unique and novel technologies have been widely neglected in the literature. in this paper, we show that renewable energy (re) inventions differ from other green inventions in the knowledge recombination processes leading to their generation as well as in their impact on subsequent inventions. the evidence on these specificities of re technologies allows us hypothesizing that regional branching in renewables may rely on relatedness differently than other non-re green technologies. in checking this hypothesis, we use a data set spanning the period 1981-2015 covering 277 european nuts2 regions in the eu28 countries plus norway. we obtain that relatedness is highly relevant in explaining regional specialization in re, and more relevant than for other green technologies, which we associate to the lower generality in their impact and the narrower scope of the knowledge from which they nurture. this conclusion is maintained when considering separately regions with high and low development levels. however, the impact of relatedness increases for re as the regional economic development decreases, signalling that a low endowment of resources and capabilities does not allow the region to break from its past technological specialization, depending more on relatedness. this would not be the case for other green technologies, probably due to their higher level of generality and wider scope.
9. title: capturing information on global knowledge flows from patent transfers: an empirical study using uspto patents
authors: weiwei liu, yuan tao, kexin bi
abstract: in the global open innovation environment, one of the main characteristics of the knowledge-based economy is to pay more attention to the importance of global knowledge flows. this paper investigates global knowledge flows from the perspective of patent transfers, which can not only reflect the patents' economic value but also explore explicit and tacit knowledge flows comprehensively. this paper begins with the premise that global knowledge flows include the internal absorption of knowledge (iak), knowledge outflows (kofs) and knowledge inflows (kifs) based on a dataset derived from united states patent and trademark office (uspto) during 2002 and 2016. then, a global knowledge flow network is constructed by integrating patent transfer analysis and social network analysis. our results show that more and more inventors and assignees are involved in the global knowledge flow network, china and india's ranking in the list of knowledge creators and users rises rapidly, cross-border knowledge flows will become a new trend; the rapid development of g06f (electric digital data processing), h04l (transmission of digital information) and other technological fields has accelerated the global knowledge flows; at present, the united states is the largest net knowledge inflow participant, the united kingdom is the largest net knowledge outflow participant; the characteristics of a small-world effect in the cross-border knowledge flow network composed of 35 major participants become increasingly obvious. our findings have clear policy implications. establishing a global knowledge flow network is needed in order to promote global knowledge transfers, absorption and sharing.
10. title: we are in it together: communitarianism and the performance-innovation relationship
authors: matthias ploeg, joris knoben, patrick vermeulen
abstract: the relationship between firm performance and innovation behavior has been widely studied, yet theoretical and empirical findings still widely diverge. we investigate this inconsistency through the lens of informal institutions, specifically communitarianism, the degee to which group goals are considered more important than individual goals. we do this through an analysis of a firm-level dataset covering 31,860 firms across 56 countries. we find evidence for a �cushion effect�, where firms in highly communitarian settings benefit from informal insurance in order to engage in innovation activity when their performance is below their aspirational value. firms experiencing performance above aspirational value are also more likely to engage in innovation activity in highly communitarian settings due to a �pay-it-forward� mechanism, using innovation activities to contribute to community challenges. both effects are conditional on firms being sufficiently embedded in their direct business environment. we discuss the direct and wider implications for the literature on performance-innovation behavior and provide guidance for policy makers and practitioners.
11. title: the diffusion of scientific discoveries in government laboratories: the role of patents filed by government scientists
authors: seungryul ryan shin, jisoo lee, yura rosemary jung, junseok hwang
abstract: the study examines the role of a patent filed by government scientists in regard to the dissemination of scientific discoveries in government laboratories. while a patent filed by government scientists decreases the rate of follow-on patents in a technological area that overlaps with the areas of the focal patent, it increases the rate of follow-on patents in non-overlapping technological areas. the increase in follow-on inventions is attributed to risk-taking inventions, that is, inventions involve a high chance of resulting in either impactful or failure patents, rather than incremental inventions. it is also characterized by inventions with a high level of originality. inventors in distant locations in terms of geographical and technological proximity are most affected by the patents filed by government scientists. the patent effect is pronounced when the government scientists involved in the focal discovery have fewer social connections and when the scientific field is less familiar in the industry. these findings are consistent with the idea that patenting by government scientists helps facilitate the dissemination of technological information or potential of scientific discoveries in government laboratories. policy and managerial implications are also discussed.
12. title: towards privatized social and employment protections in the platform economy? evidence from the uk courier sector
authors: steven rolf, jacqueline o'reilly, marc meryon
abstract: platform capitalism has facilitated the widespread replacement of employment contracts with contracts for services. these offer significantly fewer social and employment protections for the independent contractors engaged. what does this mean for the future of national social and employment protection (seps) systems? we show how the question of platform workers� employment status � and therefore access to seps � remain unresolved under uk law. drawing on socio-legal theory, we demonstrate why digital labor platforms represent a challenge to existing modes of employment law and labor market regulation. in the absence of immediate legal �fixes�, some unions and firms are innovating new �privatized social protection systems�. a �self-employed plus� (se ) agreement in the uk parcel courier sector developed between hermes, a uk-based courier service, and the gmb union represents an important example of such attempts being made to bridge the current regulatory void. we critically analyze the agreement and draw lessons for platform governance theory. we demonstrate that privatized se provisions potentially offer significant benefits for platforms by reducing regulatory oversight, boosting productivity, and enhancing managerial control over platform complementors. at the same time, while they risk undermining national sep systems and degrading worker protections, they also offer a window of opportunity for trade unions to gain a foothold in the platform economy.
13. title: the role of data for ai startup growth
authors: james bessen, stephen michael impink, lydia reichensperger, robert seamans
abstract: artificial intelligence (ai)-enabled products are expected to drive economic growth. training data are important for firms developing ai-enabled products; without training data, firms cannot develop or refine their algorithms. this is particularly the case for ai startups developing new algorithms and products. however, there is no consensus in the literature on which aspects of training data are most important. using unique survey data of ai startups, we find a positive correlation between having proprietary training data and obtaining future venture capital funding. moreover, this correlation is greater for startups in markets where data is a major advantage and for startups using more sophisticated algorithms, such as neural networks and ensemble learning.
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