| 1. |
- Baum, Christopher F., et al.
(författare)
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Innovation strategies, external knowledge and productivity growth
- 2019
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Ingår i: Industry and Innovation. - : ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD. - 1366-2716 .- 1469-8390. ; 26:3, s. 348-367
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Tidskriftsartikel (refereegranskat)abstract
- This paper studies firms ' capability to recombine internal and local knowledge. It measures the outcome in terms of total productivity growth. Using Swedish data on commuting time for face-to-face contacts across all 290 municipalities, we employ a time-sensitive approach for calculating localized knowledge within a municipality and and its close neighbors. Internal knowledge is captured by register data on firms' innovation intensity. The two sources of knowledge are modeled in a production function setting by discrete composite variables with different combinations of input factors. Applying the model on Swedish firm level panel data, we find strong evidence of differences in the capacity to benefit from external knowledge among persistent innovators, temporary innovators and non-innovators. The results are consistent regardless of whether innovation efforts are measured in terms of the frequency of patent applications or the level of R&D investment.
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| 2. |
- Lööf, Hans, et al.
(författare)
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The Impact of ESG on Stocks’ Downside Risk and Risk Adjusted Return
- 2019
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Investments considering corporate social responsibility continue to expand. Are companies pursuing a CSR agenda benefiting shareholders by reducing their financial downside risk? This paper investigates the relationship between a firm’s environmental, social and corporate governance (ESG) scores and its downside risk on the stock market. We study this link using a panel of 887 stocks listed in five European countries over the period 2005-2017. Our empirical results show that higher ESG scores are associated with reduced downside risk of stock returns. Based on the Fama-French three factor model, we found no systematic relationship between ESG and the level of risk-adjusted return.
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| 3. |
- Baum, Christopher F., et al.
(författare)
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Offshoring and Innovation Capabilities : Evidence from Swedish Manufacturing
- 2018
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This paper examines the impact of global value chains on firms’ innovation capabilities. Using the United Nations Broad Economic Categories (BEC) system to identify offshoring-related intermediate imports, we study contracting out production over the period 2001–2014 from about 7,000 mainly small Swedish manufacturing firms to six different destinations and test hypotheses on improvements and outcomes of innovation capabilities. Our empirical findings show that the strategy to participate in global value chains increases firms’ innovative capability regardless of firms’ technology intensity. The results are robust to a wide set of controls and in line with predictions in recent models of directed technical change.
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| 4. |
- Baum, Christopher F., et al.
(författare)
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Outside Board Directors and Start-Up Firms’ Innovation
- 2018
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We exploit increased access to detailed employer-employee data to assess whether outside board members affect innovation performance among start-up firms. Using data for all new limited companies in Sweden born during 1999–2013 which have no more then 10 employees when formed, we provide structural equation estimates that deal with the endogenous selection of board directors. Our empirical findings show that an increase in the board’s expertise, measured by the relative productivity of the firms where outsiders are employed, has a significant and positive impact on the new firm’s propensity to apply for both patents and trademarks.
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| 5. |
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| 6. |
- Dastory, Linda, 1985-
(författare)
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Financing of Innovation in SMEs
- 2018
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Licentiatavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This licentiate thesis consist of two essays. Both essays deal with corporate finance and its impact on innovation investment. In the first essay we use German Community Innovation Survey to identify financially constrained firms. Contrary to previous studies we find that the relationship between financial constraints and firm size is inverted u-shaped and that it is the group of medium sized firms which has the largest funding gaps. This is explained by the fact that these firms have high innovation capabilities but at the same time face high cost of capital. Furthermore, we test if financial constraints have an impact on firm productivity growth. We find negative effects from funding gaps on productivity, but only for investment in tangible capital and not for innovation investments.The second essay investigates whether there has been a change in the productivity and funding mix of innovative SMEs post stricter bank regulations. Our result shows that the likelihood of using bank loans as a funding source has not changed for innovation investments nor for tangible investments after stricter capital regulations have been announced. On the other hand, sources such as subsidies have increased due to regulatory programs that have been implemented in the aftermath of the recent financial crisis. Furthermore, SMEs productivity has not changed post stricter bank regulations. Overall, the impact from different sources of funding on productivity is rather limited.
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| 7. |
- Landahl, Jonas, 1986, et al.
(författare)
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Towards Adopting Digital Twins to Support Design Reuse during Platform Concept Development
- 2018
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Ingår i: Proceedings of NordDesign: Design in the Era of Digitalization, NordDesign 2018.
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Konferensbidrag (refereegranskat)abstract
- To gain a first-mover advantage on the marketplace, manufacturers are striving to develop innovative products that meet the needs of a wide range of customers. Traditionally to support innovative design, the fuzzy concept stage has long been supported by heuristic design philosophies. In recent years, new supportive technologies have enabled concept generation based on the collection and reuse of existing data. Existing data can be collected from various sources; for example, customer reviews, historical data, or by studying existing products or other industrial assets such as production machines and tooling. Lately, the concept of Digital Twin (DT) has gained a wealth of attention as a means to construct a high-fidelity digital copy of a physical asset and to study its shape, position, gesture, status and motion. The common aim of the DT is to support the realistic model of system behavior that can support performance prediction and optimization. However, in providing sufficient support during the conceptual stages the realistic models become heavy and costly to adapt. While the emerging data-driven design approaches can be used to generate designs with alterations, there is a lack of support to generate and evaluate solutions during the conceptual stages. In this paper, a framework of a Digital Platform Twin (DPT) is proposed to fill this gap. In contrast to a sole high-fidelity digital representation, the DPT builds on abstracting multiple high-fidelity Digital Twins into a low- fidelity platform model, represented as a function model. The DPT framework proclaims the vision of supporting design engineers in the process of abstracting functionalities of existing assets, inserting new functionalities and technologies in the function structure to ultimately support the generation and evaluation of new functional concepts. To demonstrate the DPT framework, an automotive example is presented. We believe that reuse during platform concept development can be supported with the use of multiple DTs. To achieve this, a challenge is to practically realize the transcending in abstraction levels of the models: from Digital Twins to function model and from function model to geometry models. The transcending in abstraction levels is therefore a matter of future work.
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| 8. |
- Lööf, Hans, et al.
(författare)
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New ventures in Cleantech : opportunities, capabilities and innovation outcomes
- 2018
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Facing the challenge of climate change, innovations that imply environmental benefits create business opportunities for entrepreneurs. This paper analyzes innovation capabilities of startups in Cleantech and how the innovation outcomes of those startups develop over time. Based on the Mannheim Foundation Panel and applying propensity score matching, a cohort of 566 Cleantech startups is analyzed and compared with a control group of non-Cleantech startups. We find that startups in Cleantech have, on average, higher innovation capabilities compared with all startups. However, Cleantech startups are a heterogeneous group including ventures using common technology and those developing new technology. Our econometric evidence shows that, ceteris paribus, Cleantech startups are more likely to combine existing technology in a novel way. Finally, we find that Cleantech startups do, on average, develop more market novelties in later years compared to theirs peers
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| 9. |
- Madrid, Julia, 1988, et al.
(författare)
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Mitigating Risk of Producibility Failures in Platform Concept Development
- 2018
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Ingår i: 31st Congress of the International Council of the Aeronautical Sciences, ICAS 2018.
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Konferensbidrag (refereegranskat)abstract
- Late detection of producibility problems once a product is in production implies several risks. In aerospace applications, high manufacturing variation rates on a product can imply design modifications with subsequent increase of lead time and detriment of product performance, decreasing customer satisfaction. In the context of platform development, in which a wide range of customer needs are met by designing a variety of product variants, these risks can multiply to an unmanageable sum. To mitigate the risk of late modifications of a variety of designs, producibility aspects needs to become an imperative part of the early platform development stages. This paper presents a two- stage producibility assessment method employed to systematically narrow down a set of product- manufacturing variants based on information generated using various types of rule-based and simulation-based models. The assessments are used to mitigate the risk of producibility failures, classified in this study as operational failures and quality failures. The two-stage producibility assessment method is demonstrated in an aerospace case wherein a variety of aero engine sub-systems and welding resources are modeled and assessed. The results show that the risk of producibility failures can be mitigated by means of rapid and precise assessments during platform concept development. By mitigating these risks early on, the negative effects on manufacturing variation and lead time may be reduced.
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| 10. |
- Baum, Christopher, et al.
(författare)
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A new approach to estimation of the R&D–innovation–productivity relationship
- 2017
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Ingår i: Economics of Innovation and New Technology. - England : Informa UK Limited. - 1043-8599 .- 1476-8364. ; 26:1-2, s. 121-133
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Tidskriftsartikel (refereegranskat)abstract
- We apply a generalized structural equation model approach to the estimation of the relationship between R&D, innovation and productivity that focuses on the potentially crucial heterogeneity across sectors. The model accounts for selectivity and handles the endogeneity of this relationship in a recursive framework which allows for feedback effects from productivity to future R&D investment. Our approach enables the estimation of the different equations as one system, allowing the coefficients to differ across sectors, and also permits us to take cross-equation correlation of the errors into account. Employing a panel of Swedish manufacturing and service firms observed in three consecutive Community Innovation Surveys in the period 2008–2012, our full-information maximum likelihood estimates show that many key channels of influence among the model's components vary meaningfully in their statistical significance and magnitude across six different sectors based on the OECD classification on technological and knowledge intensity. These results cast doubt on earlier research which does not allow for sectoral heterogeneity.
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