Public procurement for innovation: firm-level evidence from Italy and Norway

2020 ◽  
Author(s):  
Marialuisa Divella ◽  
Alessandro Sterlacchini
Keyword(s):  
Public Procurement ◽  
Micro Data ◽  
Firm Level ◽  
Factors Affecting ◽  
Explanatory Variables ◽  
Innovation Surveys ◽  
Innovative Solutions ◽  
Main Determinants ◽  
Procurement Contracts ◽  
The Empirical Analysis

Abstract Controlling for factors affecting the participation in the procurement market, this article attempts to identify the main determinants of firms’ propensity to undertake innovative activities as part of public procurement contracts. The empirical analysis is carried out by using micro-data from two Community Innovation Surveys for Italian and Norwegian firms. We find that small- and medium-sized firms, as opposed to larger companies, have a lower capability to enter into the procurement market; however, once they succeed, they are equally capable of offering innovative solutions to public buyers. Another major result regards firms’ cooperation with universities and public research institutes, which seems to play a key role in order to facilitate firms’ involvement in public procurement for innovation. Although there are some differences in the estimated coefficients of explanatory variables, these results are consistent between Italy and Norway.

scholarly journals The Effects of Irreversibility and Uncertainty on Business Investments: A New View of Investment

2014 ◽  
Vol 5 (3) ◽  
pp. 7-20
Author(s):  
Katarína Belanová
Keyword(s):  
Empirical Analysis ◽  
Investment Decision ◽  
Firm Level ◽  
Factors Affecting ◽  
Real Options Approach ◽  
Investment Decision Making ◽  
Level Data ◽  
The Impact ◽  
The Relationship ◽  
The Empirical Analysis

This article presents a survey of recent theoretical, as well as empirical, contributions concerning business investments, which help to explain the investment decision making of companies. These contributions emphasize the relevance of idiosyncratic factors affecting investment decisions such as the degree of irreversibility and uncertainty, interactions between these factors may generate an opportunity cost equivalent to the exercise of an option and so they add an important dimension to the neoclassical theory of investment (also called standard or orthodox theory of investment). This theory has not recognized the important qualitative and quantitative implications of this interaction, what can explain some of its failures. We investigate the irreversibility of investments and the impact this has on the nature of the relationship between investment and uncertainty in the way of empirical analysis. The empirical analysis uses firm – level data and is based on a survey of 53 automotive suppliers, which was carried out during the year 2011. We find supportive evidence for the fact that uncertainty is negatively associated with planned investments of the companies surveyed, which remains true also in the presence of irreversibility. At the end we demonstrate the core of the real options approach in a form of a practical example.

Evaluation of Fiscal Policy Effect of China’s Photovoltaic Industry

2018 ◽  
pp. 111-116 ◽  
Author(s):  
Gang AN ◽  
Hang WANG
Keyword(s):  
Fiscal Policy ◽  
Research And Development ◽  
Operating Performance ◽  
Fiscal Policies ◽  
Micro Data ◽  
Policy Effect ◽  
Policy Suggestions ◽  
Asset Size ◽  
The Empirical Analysis

To explore the role of fiscal policies in promoting the development of photovoltaic industry, the effects of financial subsidies on the development of China’s photovoltaic industry were analyzed by using the micro data of listed companies. The empirical analysis results in this study indicate that the fiscal policies represented by financial subsidies play a remarkable positive impetus function and financial subsidies are positively correlated with the operating performance of Photovoltaic enterprises. With larger the asset size and higher the Research and Development (R&D) investments, the operating performance of Photovoltaic enterprises is the better. Based on the above results, this study puts forward some policy suggestions on optimizing fiscal policy tools and further promoting the development of photovoltaic industry.

Analysis of Single-Vehicle Crash Injury Severities in Urban River-Crossing Road Tunnels

2015 ◽  
Vol 743 ◽  
pp. 526-532 ◽  
Author(s):  
C.M. Jiang ◽  
J.J. Lu ◽  
L.J. Lu
Keyword(s):  
Heavy Vehicles ◽  
Probit Regression ◽  
Factors Affecting ◽  
Explanatory Variables ◽  
Urban Road ◽  
Road Tunnels ◽  
Negative Effect ◽  
Single Vehicle ◽  
Injury Severities ◽  
One Year

Based on the originally unprocessed data from the Official Platform of“110”Alarming Receiving Center (OP110ARC) of Shanghai Public Security Bureau (SPSB), 529 single-vehicle crashes reported during one year and a half which happened at the thirteen urban road tunnels going across the Huangpu River are used in this study. To investigate the factors affecting the crash influence severity levels, ordered probit regression is established. Several categories of factors are considered as explanatory variables in the models. The study finds that the entrance of the tunnels is the site where severe injury crashes trend to occur. Rainy and snowy days impose vehicles and motorists driving via the tunnel sections in danger. Tunnels with a low speed limit (40 km/h in this study) may be not as safe as we thought before. Two-wheel vehicles without sufficient physical protection for its drivers and heavy vehicles also show a negative effect on the operation safety of single-vehicle at these studied tunnels. Alcohol involved drivers are more likely to suffer from a severe crashes and gets badly hurt.

Factors Determining the Exchange Rate Exposure of Firms: Evidence from India

2021 ◽  
pp. 227853372110337
Author(s):  
Zakiya Begum Sayed ◽  
J. Gayathri
Keyword(s):  
Exchange Rate ◽  
Multinomial Logistic Regression ◽  
Exchange Rate Volatility ◽  
Strategic Decision ◽  
Firm Level ◽  
Factors Affecting ◽  
Business Operations ◽  
Industrial Sectors ◽  
Exchange Rate Exposure ◽  
The Exchange Rate

Exchange rate exposure is a strategic decision in finance and risk management at both the micro and macro level of business operations. Literature on the measurement, and management of this risk, has had no consensus on the factors affecting it as these factors seem to be dynamic. In an effort to consider a comprehensive study at the firm level, this article examines the exchange rate exposure of 271 constituent firms from the BSE S&P 500 index. The study period was 2001 to 2020 divided into sub-periods around the financial crises of 2008. The study uses two contemporary approaches (the capital market approach and the cash flow approach) and five relevant exchange rates (USD, EURO, GBP, JPY, and REER) to measure the foreign exchange. The sample firms were divided into 10 industrial sectors to identify the factors that lead to exposure of firms to exchange rate volatility. We use multinomial logistic regression to regress the select factors with the measured value of exchange rate exposure. The findings of the article suggest that multinationality, fixed asset utilization ratio, hedging activities, industrial sectors, size, and age of the firms are the significant determinants of such exposure. The results varied during the sub-periods and across industries.

Examining year-end spending spikes in the European Economic Area: a comparative study of procurement contracts

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clifford P. McCue ◽  
Eric Prier ◽  
Ryan J. Lofaro
Keyword(s):  
Comparative Study ◽  
Design Methodology ◽  
Public Procurement ◽  
Fourth Quarter ◽  
European Economic Area ◽  
Content Type ◽  
European Economic ◽  
Economic Area ◽  
Contract Type ◽  
Procurement Contracts

PurposeThe purpose of this study is to analyze year-end spending practices in the European Economic Area (EEA) to baseline the pervasiveness of year-end spending spikes across countries in Europe.Design/methodology/approachThe Tenders Electronic Daily dataset is used to descriptively analyze above-threshold procurement contracts by country, year and contract type from 2009 to 2018. Proportional distributions are employed to compare percentages of spend across quarters. Analyses are run within each country on the number of years displaying a fourth quarter spike, as well as within each country and contract type.FindingsThe results show that while spending spikes for above-threshold contracts in the final fiscal quarter are not consistent across all countries, patterns emerge when the data are disaggregated by country. The most populous nations in the EEA are more likely to have years with the highest proportion of fiscal spend occurring in the fourth quarter. Further, the type of contract makes a difference – services and supplies contracts are more likely to display fourth quarter spikes than works contracts.Originality/valueThis article provides the first analysis of the year-end spending spike across countries in Europe using procurement data, as well as the first to disaggregate by year and contract type. Findings support the literature on the presence of year-end spikes; such spikes exist even for above-threshold public procurement contracts.

scholarly journals The Factors Affecting Land Prices In Housing Location In Sidoarjo Regency

2017 ◽  
Vol 1 (1) ◽  
pp. 37-47
Author(s):  
Partomi Simangunsong ◽  
Arasy Alimudin ◽  
Muh. Barid Nizaruddin Wajdi
Keyword(s):  
Residential Location ◽  
Least Square ◽  
City Center ◽  
Sale Price ◽  
Factors Affecting ◽  
Explanatory Variables ◽  
Ordinary Least Square ◽  
Road Width ◽  
Log Linear ◽  
Road Distance

The need for residential location is one of the basic needs of the community and the attractiveness of the residential location is a unique feature where this feature is not made by the respective occupants, but by external factors from the residential environment in the area. This study aims to analyze the factors that are considered as the basis that affect the price of land. This research uses quantitative approach with associative research method. Linear analysis with quadratic method. Ordinary Least Square (OLS). From the analysis of this research model obtained log-linear F-accounting 70,162 while the value of F-table (0,05; 5,48) is 2,45. because F-count> F-table, Ho means rejected and explanatory variables include Distance to city center, Distance to main road, Distance to toll gate, Road width, and security simultaneously can be explained significantly at land sale price.

scholarly journals Regional brands produced beyond the region: An analysis of beer brands from recently closed breweries in Europe

2021 ◽  
Vol 29 (3) ◽  
pp. 168-183
Author(s):  
Jiří Hasman ◽  
David Hána ◽  
Kryštof Materna
Keyword(s):  
Individual Characteristics ◽  
Economic Perspective ◽  
Complete Sample ◽  
Firm Level ◽  
Factors Affecting ◽  
Global Industry ◽  
Production Location ◽  
Country Level ◽  
Wide Range ◽  
The Individual

Abstract Global industry has been undergoing changes in the concentration of brand ownership and production, with acquisitions and closures being a major factor in this evolution. The impacts of such activities are commonly studied from an economic perspective and from the perspective of internal firm-level and deal-level factors, while the influence of external geographical factors is largely neglected. Our research focuses mainly on the importance of geographical cultural factors affecting beer brands whose production location was moved after the closure of the original breweries. The research includes a complete sample of 30 brands from recently closed breweries across Europe. Brands are divided into seven categories according to how their marketing strategy has (or has not) changed in terms of exploiting regional and national identity. The overall success of these brands is then measured in terms of the development of their share in the home countries’ markets. Differences in brands’ strategies and successes are explained through a wide range of country-level factors and the individual characteristics of the breweries. It is shown that the level of beer tradition or identity in the countries, as well as the country’s beer life-cycle position, plays a crucial role in the evolution of the studied brands.

scholarly journals A model assessing innovativeness of administration units awarding public contracts as a tool to conduct economic policy of the state

Equilibrium ◽  
2015 ◽  
Vol 10 (2) ◽  
pp. 93
Author(s):  
Arkadiusz Borowiec
Keyword(s):  
Economic Policy ◽  
New Technologies ◽  
Public Procurement ◽  
The State ◽  
Rational Approach ◽  
Factors Affecting ◽  
Innovation Potential ◽  
Innovative Products ◽  
Polish Economy

In today's market economy factors concerning knowledge, new technologies and innovative solutions are essential for economic development. However, the Polish economy, despite its high innovation potential compared to other European Union countries, is characterized by a very low level of innovativeness. Implementing this potential is conditioned with an appropriate economic policy of the state and rational approach to its resources and legal solutions. One of the possibilities of such an action is the use of public procurement instrument through which it is possible to more effectively create demand for innovative products and services. As shown by literature studies, the achievements of the subject literature associated with the creation of demand for innovations by public administration in Poland have been very modest. This gap is recognized the article and it attempts to build a model for assessing the innovativeness of these units. Network thinking methodology was used to build the model. As a result, after the identification of factors affecting the conduct of an innovative public procurement, a network of links was established between them and examined in terms of type, intensity and duration of exposure. Building a model according to the methodology, the opinions of experts have been used along with long-term observations conducted in the course of participation in all kinds of conferences and trainings. The model was also subjected to validation in two selected units.

scholarly journals Pharmaceutical Product Liability, Litigation Regimes and the Propensity to Patent: an Empirical Firm-level Investigation

2020 ◽  
Author(s):  
Mitja Kovac ◽  
Salvini Datta ◽  
Rok Spruk
Keyword(s):  
Legal Status ◽  
Patent Application ◽  
Product Liability ◽  
Pharmaceutical Product ◽  
European Patent ◽  
Firm Level ◽  
Patent Applications ◽  
A Minor ◽  
Second Category ◽  
The Empirical Analysis

<p>Our data on the legal status of patent applications is from European Patent Office's (EPO) PATSTAT database which contains bibliographic and legal status firm-level patent data from leading industrialized and developing countries for the period 1995-2015. Sixteen different forms of legal statues are broadly classified and systematized into four broad categories. The first category entails the patent applications sent to EPO. This category is used to code firm-level observations based on whether the patent application has been submitted to EPO. The second category comprises the pooled firm-level observations for which the patent application has been approved and official validated. This category comprises the firms for which a valid patent has been approved in a given year. The third category comprises the firms whose patent application has been rejected by EPO on various ground which exceed the scope of this paper. And fourth, the remaining forms of legal status were coded into miscellaneous category which amounts to a minor fraction of the whole set of applications and which are omitted from the empirical analysis.</p>

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