| 1. |
- Andersson, Martin, et al.
(författare)
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Acquisitions of start-ups by incumbent businesses A market selection process of "high-quality" entrants?
- 2016
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Ingår i: Research Policy. - : Elsevier BV. - 0048-7333 .- 1873-7625. ; 45:1, s. 272-290
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Tidskriftsartikel (refereegranskat)abstract
- We analyze the frequency and nature by which new firms are acquired by established businesses. Acquisitions are often considered to reflect a technology transfer process and to also constitute one way in which a "symbiosis" between new technology-based firms (NTBFs) and established businesses is realized. Using a micro-level dataset for Sweden in which we follow new entrants up to 18 years after entry, we show that acquisitions of recent start-ups are rare and restricted to a small group of entrants with defining characteristics. Estimates from competing risks models show that acquired start-ups, in particular by multinational enterprises (MNEs), stand out from entrants that either remain independent or exit by being much more likely to be spin-offs operating in high-tech sectors, having strong technological competence, and having weak internal financial resources. Our overall findings support the argument that acquisitions primarily concern NTBFs in market contexts where entry costs are large, access to finance is important and incumbents have valuable complementary capabilities and resources. (C) 2015 Elsevier B.V. All rights reserved.
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| 2. |
- Andersson, Martin, et al.
(författare)
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The economic microgeography of diversity and specialization externalities – firm-level evidence from Swedish cities
- 2019
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Ingår i: Research Policy. - : Elsevier. - 0048-7333 .- 1873-7625. ; 48:6, s. 1385-1398
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Tidskriftsartikel (refereegranskat)abstract
- We employ finely geo-coded firm-level panel data to assess the long-standing question whether agglomeration economies derive from specialization (within-industry), diversity (between-industry) or overall density. Rather than treating the city as a single unit, we focus our analysis on how the inner industry structures of cities influence firm-level productivity. Our results illustrate the co-existence of several externalities that differ in their spatial distribution and attenuation within cities. First, we find robust positive effects of neighborhood-level specialization on TFP as well as a small effect of diversity at the same fine spatial level. These effects are highly localized and dissipate beyond the immediate within-city neighborhood level. Second, we also find that firms benefit from the overall density of the wider city. The results emphasize the relevance of “opening up” cities to study the workings of their inner organization and support the idea that location in a within-city industry cluster in a diversified and dense city boosts productivity.
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| 3. |
- Azagra-Caro, J. M., et al.
(författare)
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Dynamic interactions between university-industry knowledge transfer channels: A case study of the most highly cited academic patent
- 2017
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Ingår i: Research Policy. - : Elsevier BV. - 0048-7333. ; 46:2, s. 463-474
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Tidskriftsartikel (refereegranskat)abstract
- This paper examines the succession of formal and informal channels of university-industry knowledge transfer, and the local economic impact of their dynamic interaction. To do so, we investigate a highly cited university patent over an extended period of time through a case study methodology. Our work provides three fundamental insights. First, local economic impact can be achieved only after a complex, temporally unfolding sequence of interactions between formal and informal channels of knowledge transfer. Second, in the course of this dynamic interaction, knowledge generated during formal transfer activities may be transferred via informal channels. Third, the method developed can provide information on the variety of knowledge transfer channels related to highly cited patents. (C) 2016 Elsevier B.V. All rights reserved.
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| 4. |
- Berggren, Christian, et al.
(författare)
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Scientific misconduct at an elite medical institute: The role of competing institutional logics and fragmented control
- 2019
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Ingår i: Research Policy. - : Elsevier. - 0048-7333 .- 1873-7625. ; 48:2, s. 428-443
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Tidskriftsartikel (refereegranskat)abstract
- The incidence of revealed fraud and dishonesty in academia is on the rise, and so is the number of studies seeking to explain scientific misconduct. This paper builds on the concepts of competing logics and institutional fields to analyze a serious case of medical and scientific misconduct at a leading research institute, Karolinska in Sweden, home to the Nobel Prize in Medicine.By distinguishing between a market-oriented, a medical and an academic logic, the study analyzes how various actors − executives, research leaders, co-authors, journal editors, medical doctors, science bloggers, investigative journalists and documentary filmmakers − sustained or tried to expose the misconduct. Despite repeated warnings from patient-responsible doctors and external academic reviewers, Karolinska protected the surgeon, Paolo Macchiarini, until a documentary film at the Swedish national public TV exposed the fraud which led to public inquiries and proposals for a new national ethics legislation.The analysis illustrates the power of a market-oriented logic focused on brand and image at the research institute and at a leading journal, but also the perseverance of the logics of scientific scrutiny and medical care among practicing doctors and independent academics although the carriers of these logics were less well organized than the carriers of the market-oriented logic. Furthermore, the analysis shows the problem of fragmented control in the academic institutional field. The discussion of remedies compares the Karolinska case, where media actors were instrumental in sanctioning the perpetrators, with a similar instance of medical misconduct at Duke in the US where the government agency (ORI) intervened and shows the limitations of both types of actors. The conclusion highlights the importance of studying misconduct management and institution-building in different fields to develop effective remedies.
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| 5. |
- Berggren, Christian, et al.
(författare)
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Transition pathways revisited: Established firms as multi-level actors in the heavy vehicle industry
- 2015
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Ingår i: Research Policy. - : Elsevier. - 0048-7333 .- 1873-7625. ; 44:5, s. 1017-1028
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Tidskriftsartikel (refereegranskat)abstract
- The multi-level perspective on sustainability transitions positions established firms (incumbents) as defenders of existing technologies at the "regime level." By contrast, it positions new entrants at the niche level, as promoters of new technologies. This paper challenges the positioning of firms as actors on either regime or niche levels. Based on a comparative analysis of technology strategies in the heavy vehicle industry, the paper shows that established firms are active at both levels, developing several technology alternatives simultaneously. This means that incumbents technology strategies determine important parts of the required niche regime interactions. The paper also shows how incumbents may pursue contrasting technology strategies. While some adopt a dualistic approach, keeping regime and niche level activities technologically and commercially separate, others develop integrated strategies where niche activities are leveraged to impact upon the regime level. The cases studied illustrate how the success of such integrated strategies depends on the emergence of bridging policies. Bridging policies are relevant both for linking early niche markets to broader regime-level markets, and for supporting further technological advancements of niche markets. (C) 2014 Elsevier B.V. All rights reserved.
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| 6. |
- Bianchi, Mattia, et al.
(författare)
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R&D Subsidies as Dual Signals in Technological Collaborations
- 2019
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Ingår i: Research Policy. - : Elsevier. - 0048-7333. ; 48:9
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Tidskriftsartikel (refereegranskat)abstract
- We investigate the influence of public R&D subsidies on a firm's likelihood to form technological collaborations. Using signaling theory, we conceptualize the award of a subsidy as a pointing signal (i.e., indicating a quality attribute that distinguishes the signaler from its competitors), and the monetary amount raised through a subsidy as an activating signal (i.e., activating the quality attribute of the signaler). Drawing on the attention-based view, we investigate whether the relative salience of these signals varies between two types of signal receivers: academic and corporate partners. Using a panel sample of Spanish manufacturing firms, our results indicate that the two types of receivers attend to the two signals differently: while academic partners attend to pointing signals only (sent by the award of a selective subsidy), corporate partners react to the richer information that activating signals provide (sent by the monetary value of both selective and automatic subsidies). Our results are stronger for SMEs vis-à-vis large firms, and hold after controlling for endogeneity, selection bias, simultaneity, attrition, inter-temporal patterns in technological collaborations, and the substantive effects of subsidies. The theorized and tested dual nature of subsidy-enabled signals and their different salience to distinct partner types hold interesting implications for research on alliances, innovation policy, and signals.
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| 7. |
- Binz, Christian, et al.
(författare)
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Global Innovation Systems—A conceptual framework for innovation dynamics in transnational contexts
- 2017
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Ingår i: Research Policy. - : Elsevier BV. - 0048-7333. ; 46:7, s. 1284-1298
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Tidskriftsartikel (refereegranskat)abstract
- This paper proposes a framework for the analysis of technological innovation processes in transnational contexts. By drawing on existing innovation system concepts and recent elaborations on the globalization of innovation, we develop a multi-scalar conceptualization of innovation systems. Two key mechanisms are introduced and elaborated: the generation of resources in multi-locational subsystems and the establishment of structural couplings among them in a global innovation system (GIS). Based on this conceptualization, we introduce a typology of four generic GIS configurations, building on the innovation mode and valuation system in different industry types. The analytical framework is illustrated with insights from four emerging clean-tech industries. We state that a comprehensive GIS perspective is instrumental for developing a more explanatory stance in the innovation system literature and developing policy interventions that reflect the increasing spatial complexity in the innovation process.
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| 8. |
- Boschma, Ron, et al.
(författare)
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Institutions and diversification: Related versus unrelated diversification in a varieties of capitalism framework
- 2015
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Ingår i: Research Policy. - : Elsevier BV. - 0048-7333. ; 44:10, s. 1902-1914
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Tidskriftsartikel (refereegranskat)abstract
- The varieties of capitalism literature has drawn little attention to industrial renewal and diversification, while the related diversification literature has neglected the institutional dimension of industrial change. Bringing together both literatures, the paper proposes that institutions have an impact on the direction of the diversification process, in particular on whether countries gain a comparative advantage in new sectors that are close or far from what is already part of their existing industrial structure. We investigate the diversification process in 23 developed countries by means of detailed product trade data in the period 1995-2010. Our results show that relatedness is a stronger driver of diversification into new products in coordinated market economies, while liberal market economies show a higher probability to move in more unrelated industries: their overarching institutional framework gives countries more freedom to make a jump in their industrial evolution. In particular, we found that the role of relatedness as driver of diversification into new sectors is stronger in the presence of institutions that focus more on 'non-market' coordination in the domains of labor relations, corporate governance relations, product market relations, and inter-firm relations. (C) 2015 Elsevier B.V. All rights reserved.
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| 9. |
- Broström, Anders, Docent, 1978-
(författare)
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Academic breeding grounds : Home department conditions and early career performance of academic researchers
- 2019
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Ingår i: Research Policy. - : Elsevier B.V.. - 0048-7333 .- 1873-7625. ; 48:7, s. 1647-1665
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Tidskriftsartikel (refereegranskat)abstract
- This study investigates how research group characteristics relate to the early career success of PhD candidates who are trained in the group. In particular, I study how the citation impact of early-career PhDs is related to the staff composition and funding of the group. Using data on a cohort of Swedish doctoral graduates in science, engineering, mathematics and medicine, two sets of findings are obtained. First, students who were trained in groups with a lower number of PhD students perform better in terms of academic productivity. From the perspective of research policy, this finding suggests a decreasing return to funding additional PhD student positions allocated to professors who are already maintaining larger research groups. Second, PhD students trained in groups with funding for PhD research that is conditioned by funder influence over the topic of thesis research are more likely to stay in academia. Controlling for career destination, however, PhDs from such groups have lower than average scientific productivity and citation impact. These results suggest that finders of PhD studies face a trade-off between the two different funding objectives of "getting what they want" in terms of research content and fostering successful scholars.
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| 10. |
- Brown, James R., et al.
(författare)
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What promotes R&D? Comparative evidence from around the world
- 2017
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Ingår i: Research Policy. - : Elsevier. - 0048-7333 .- 1873-7625. ; 46:2, s. 447-462
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Tidskriftsartikel (refereegranskat)abstract
- R&D drives innovation and productivity growth, but appropriability problems and financing difficulties likely keep R&D investment well below the socially optimal level, particularly in high- technology industries. Though countries around the world are increasingly interested in using tax incentives and other policy initiatives to address this underinvestment problem, there is little empirical evidence comparing the effectiveness of alternative domestic policies and institutions at spurring R&D. Using data from a broad sample of OECD economies, we find that financial market rules that improve accounting standards and strengthen contract enforcement share a significant positive relation with R&D in more innovative industries, as do stronger legal protections for intellectual property. In contrast, stronger creditor rights and more generous R&D tax credits have a negative differential relation with R&D in more innovative industries. These results suggest that domestic policies directly dealing with appropriability and financing problems may be more effective than traditional tax subsides at promoting the innovative investments that drive economic growth.
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