scholarly journals The Elasticity-Based Approach to Enterprise Innovation

2016 ◽  
Vol 49 (1) ◽  
pp. 58-78 ◽  
Author(s):  
Adam Karbowski
Keyword(s):  
Patent Protection ◽  
Knowledge Spillovers ◽  
Formal Model ◽  
Formal Analysis ◽  
Consumer Preference ◽  
Model Framework ◽  
Firm Innovation ◽  
Product Demand ◽  
Free Rider Problem ◽  
Innovation Activities

Abstract The goal of this paper is to present a formal model of firm innovation that simultaneously analyzes innovation factors characteristic to the Schumpeterian strand of industrial organization literature and the know-how strand. Corporate R&D intensity serves here as an input measure of firm innovation. R&D intensity can be defined as a ratio of firm’s R&D spending to the firm’s sales (total revenues). On the basis of formal analysis it is found that R&D intensity is fully determined by three complementary factors, i.e. a firm’s technological competence (supply-side factor), consumer preference for quality and price of a product (demand-side factor), as well as a moderator factor associated with the knowledge spillovers, which occur between competing firms in the industry. Since the above factors are expressed in terms of elasticities, the presented model is called an elasticity-based model of firm innovation. Further, within the model framework, it is shown how horizontal R&D cooperation alleviates the free-rider problem that can discourage a firm’s innovation activities. It is next postulated that horizontal R&D cooperation can be effectively treated as a complementary tool (to such traditional solutions as patent protection and public research subsidies) for solving the problem of negative externalities in an industry with pervasive knowledge spillovers.

Industry innovation spending and openness to collaboration as levers for firm performance

2019 ◽  
Vol 22 (4) ◽  
pp. 617-638 ◽  
Author(s):  
Luiz Fernando de Paris Caldas ◽  
Fabio de Oliveira Paula ◽  
T. Diana L. van Aduard de Macedo-Soares
Keyword(s):  
Firm Performance ◽  
Knowledge Spillovers ◽  
Moderating Effect ◽  
Firm Innovation ◽  
Content Type ◽  
Innovation Activities ◽  
Industry Collaboration ◽  
And Performance ◽  
Italian Manufacturing Firms ◽  
The Relationship

Purpose The purpose of this paper is to analyze to what extent spending on innovation activities and collaboration at the industry level affects the relationship between firm innovation and performance. Design/methodology/approach A conceptual model was proposed and empirically tested using multiple linear regression. The data were obtained from the Community Innovation Survey 2012, composing a sample of 890 Italian manufacturing firms. Findings The results provided full support for the positive moderating effect of intra-industry innovation spending and partial support for the positive moderating effect of intra-industry collaboration, both regarding the relationship between firm innovation spending and performance. Knowledge spillovers derived from intra-industry innovation spending and intra-industry collaboration affect firm performance. While this finding corroborates other studies that have found that the intra-industry R&D spending influences firms’ innovation and performance, it also contributes to improve the understanding about the complementarity of internal innovation activities and knowledge spillovers. Originality/value This study contributes to theory by filling a gap concerning the complementarity of internal innovation activities and the effect of knowledge spillovers to improve firm performance. Our findings suggested that intra-industry openness to collaboration and innovation spending, as proxies of knowledge spillovers, plays an important role in complementing firm level innovative efforts, even in the case of firms that spend less on innovation and have a lower degree of collaboration. This is especially relevant for small and medium enterprises, which can take advantage of access to the necessary information to overcome their internal resource constraints for R&D and innovation. The originality of these findings adds value in terms of furthering the understanding of this phenomenon.

She-E-Os and innovation: do female CEOs influence firm innovation?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hafiz Mustansar Javaid ◽  
Qurat Ul Ain ◽  
Antonio Renzi
Keyword(s):  
Financial Constraints ◽  
Ordinary Least Squares ◽  
State Ownership ◽  
Corporate Environment ◽  
Firm Innovation ◽  
Content Type ◽  
Innovation Activities ◽  
Female Ceos ◽  
Innovation Output ◽  
The Impact

PurposeThis paper empirically investigates whether female CEOs (She-E-Os) have an effect on firm innovation among Chinese listed firms based on patent data. This study also delved further by looking at whether the internal corporate environment moderates the effect of female CEOs on innovation, that is, state ownership. Finally, this study investigates an additional test of financial constraints to examine whether financial constraints also moderate the impact of female CEOs on firm innovation.Design/methodology/approachThis study used the data of all A-share listed companies on the Shanghai and Shenzhen stock exchanges for the period from 2008 to 2017. The authors use ordinary least squares regression as a baseline methodology, along with firm-fixed effect, lagged measure of female CEOs, alternative measures of innovation, Heckman two-step model and negative binomial regression to check and control the possible issue of endogeneity.FindingsThe authors’ findings show that CEO gender plays an important role in producing higher levels of innovation output by improving the governance structure. However, female CEOs have no effect on state-owned enterprises' (SOEs) innovation activities, which suggests that the main goal of SOEs is achieving sociopolitical objectives. Furthermore, female CEOs' influence on innovation output is weaker in firms with financial constraints.Social implicationsThis study adds to the emerging global discussion on gender diversity. Many legislative bodies require a quota for women on corporate boards due to gender inequality. This study's findings reinforce such guidelines by emphasizing the economic benefits of including women in top management positions.Originality/valueThis study provides new insights by highlighting the role of female CEOs in increasing firms' innovation activities. Additionally, this study provides evidence on whether the internal corporate environment (state ownership and financial constraints) moderates female CEOs' effect on innovation.

scholarly journals Multilayer networks as embodied consciousness interactions. A formal model approach.

2021 ◽  
Author(s):  
Camilo Miguel Signorelli ◽  
joaquin diaz boils
Keyword(s):  
Formal Model ◽  
Conscious Experience ◽  
Formal Analysis ◽  
Mathematical Formulation ◽  
Multilayer Networks ◽  
Topological Network ◽  
Binary Operator ◽  
Algebraic Interpretation ◽  
Embodied Consciousness ◽  
Model Approach

An algebraic interpretation of multilayer networks is introduced in relation to conscious experience, brain and body. The discussion is based on a network model for undirected multigraphs with coloured edges whose elements are time-evolving multilayers, representing complex experiential brain-body networks. These layers have the ability to merge by an associative binary operator, accounting for biological composition. As an extension, they can rotate in a formal analogy to how the activity inside layers would dynamically evolve. Under consciousness interpretation, we also studied a mathematical formulation of splitting layers, resulting in a formal analysis for the transition from conscious to non-conscious activity. From this construction, we recover core structures for conscious experience, dynamical content and causal efficacy of conscious interactions, predicting topological network changes after conscious layer interactions. Our approach provides a mathematical account of coupling and splitting layers co-arising with more complex experiences. These concrete results may inspire the use of formal studies of conscious experience not only to describe it, but also to obtain new predictions and future applications of formal mathematical tools.

Dual-Class Firms and Innovation after NAFTA

2020 ◽  
Vol 23 (01) ◽  
pp. 2050007
Author(s):  
Lei Gao ◽  
Andrey Zagorchev
Keyword(s):  
Trade Agreement ◽  
Operating Efficiency ◽  
Firm Innovation ◽  
Exogenous Shock ◽  
Managerial Entrenchment ◽  
Innovation Activities ◽  
Dual Class Shares ◽  
Dual Class ◽  
Improve Operating

We examine the effect of dual-class shares on U.S. firm innovation after the exogenous shock of the 1994 North American Free Trade Agreement (NAFTA), which intensified international competition. Using difference-in-differences models, we find that dual-class structure firms become less innovative but improve operating efficiency following NAFTA. We show that dual-class firms in many manufacturing industries reduce innovation, but marginally increase capital expenditures after the agreement, and thus substitute risky innovation with safer, long-term investments. The findings indicate that firms with dual-class structures facing lower competition decrease their stock market related innovation activities. We find that dual-class firms with entrenched managers decrease innovation and improve operating efficiency following NAFTA. Based on the robust results, agency costs and managerial entrenchment could explain these changes in innovations, efficiency, and investments.

Industry and country effects on innovation effort

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mariano Nieto ◽  
Daniel Alonso-Martínez ◽  
Nuria González-Álvarez
Keyword(s):  
Generalized Method Of Moments ◽  
Geographical Area ◽  
Institutional Factors ◽  
Firm Resources ◽  
Firm Innovation ◽  
Data Set ◽  
Content Type ◽  
Innovation Activities ◽  
Country Factors ◽  
Country Characteristics

PurposeThe purpose of the paper is to study the determinants of firms' innovation effort using the main approaches in strategic management. The authors specifically analyze the joint effects of industry structure and country characteristics on innovation effort while controlling for firm resources.Design/methodology/approachThe hypotheses proposed are tested using a data set that includes firms registered in the EU Industrial R&D Investment (IRI) Scoreboard (European Commission, 2011). Specifically, the authors designed and applied a Generalized Method of Moments (GMM) method to perform an empirical analysis using a panel of 1,211 innovative firms in 55 industries and 26 countries between 2004 and 2012.FindingsCountry factors have significant effects on innovation effort. Results also indicate that the moderating and complementary effects of industry and country factors depend on the geographical area.Practical implicationsAlthough managers have generally tended to take into account only the firm perspective in innovation activities, this paper highlights that institutional factors are also relevant and play a key role in innovation effort. The authors provide suggestions for managers on how to ensure that their investment in innovation is efficient. They also suggest that the effect of some institutional factors may be modified by competitive pressure on firms' innovation effort.Originality/valueThe paper makes an incremental contribution to the literature on the determinants of innovation by providing a different approach to firm innovation determinants and taking into account the complementarities between institutional and industrial factors.

scholarly journals Formal analysis of security protocols for wireless sensor networks

2010 ◽  
Vol 47 (1) ◽  
pp. 81-97 ◽  
Author(s):  
Marián Novotný
Keyword(s):  
Sensor Networks ◽  
Formal Model ◽  
Formal Analysis ◽  
Security Protocols ◽  
Data Integrity ◽  
Wireless Sensor ◽  
Semantic Model ◽  
Communication Graph ◽  
Pi Calculus ◽  
Security Properties

Abstract Design of security protocols is notoriously error-prone. For this reason, it is required to use formal methods to analyze their security properties. In the paper we present a formal analysis of the Canvas protocol. The Canvas protocol was developed by Harald Vogt and should provide data integrity inWireless Sensor Networks. However, Dieter Gollmann published an attack on the protocol. We consider the fallacy of the Canvas scheme in different models of the attacker and present a solution for correcting the scheme.We propose a formal model of the fixed Canvas protocol in the applied pi-calculus. This model includes a model of the network topology, communication channels, captured nodes, and capabilities of the attacker. Moreover, we formulate and analyze the data integrity property of the scheme in the semantic model of the applied pi-calculus. We prove that the fixed Canvas scheme, in the presence of an active adversary, provides data integrity of messages assuming that captured nodes are not direct neighbors in the communication graph of a sensor network. Finally, we discuss the applicability of the proposed formal model for analysis of other WSN security protocols.

scholarly journals Petri Net based modeling and analysis for improved resource utilization in cloud computing

2021 ◽  
Vol 7 ◽  
pp. e351
Author(s):  
Muhammad Rizwan Ali ◽  
Farooq Ahmad ◽  
Muhammad Hasanain Chaudary ◽  
Zuhaib Ashfaq Khan ◽  
Mohammed A. Alqahtani ◽  
...  
Keyword(s):  
Petri Net ◽  
Data Centers ◽  
Service Providers ◽  
Formal Model ◽  
Formal Analysis ◽  
Data Availability ◽  
Erasure Codes ◽  
Modeling And Analysis ◽  
Data Object ◽  
Cloud Storage Service

The cloud is a shared pool of systems that provides multiple resources through the Internet, users can access a lot of computing power using their computer. However, with the strong migration rate of multiple applications towards the cloud, more disks and servers are required to store huge data. Most of the cloud storage service providers are replicating full copies of data over multiple data centers to ensure data availability. Further, the replication is not only a costly process but also a wastage of energy resources. Furthermore, erasure codes reduce the storage cost by splitting data in n chunks and storing these chunks into n + k different data centers, to tolerate k failures. Moreover, it also needs extra computation cost to regenerate the data object. Cache-A Replica On Modification (CAROM) is a hybrid file system that gets combined benefits from both the replication and erasure codes to reduce access latency and bandwidth consumption. However, in the literature, no formal analysis of CAROM is available which can validate its performance. To address this issue, this research firstly presents a colored Petri net based formal model of CAROM. The research proceeds by presenting a formal analysis and simulation to validate the performance of the proposed system. This paper contributes towards the utilization of resources in clouds by presenting a comprehensive formal analysis of CAROM.

Firm characteristics, innovation, financial resilience and survival of financial institutions

2019 ◽  
Vol 10 (1) ◽  
pp. 48-73
Author(s):  
Stephen Korutaro Nkundabanyanga ◽  
Elizabeth Mugumya ◽  
Irene Nalukenge ◽  
Moses Muhwezi ◽  
Grace Muganga Najjemba
Keyword(s):  
Financial Institutions ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Firm Characteristics ◽  
Cross Sectional ◽  
Firm Innovation ◽  
Content Type ◽  
Going Concern ◽  
Innovation Activities ◽  
The Social

Purpose The purpose of this paper is to examine the relationship among firm characteristics, innovation, financial resilience and survival of financial institutions in Uganda. Design/methodology/approach This paper employs a cross-sectional research design, and responses from 143 officers of 40 financial institutions are analyzed using Statistical Package for the Social Sciences. The authors used ordinary least squares regression in testing the hypotheses. Findings The authors find that firm characteristics of size, age, innovation and financial resilience have a predictive force on survival of public interest firms such as financial institutions. Research limitations/implications The implication drawn here is that a combination of firm characteristics, firm innovation and financial resilience explains a significant contribution in the survival chances of financial institutions. However, as much as firm characteristics and financial resilience are significant, innovation explains more of the variances in financial institutions’ going concern appropriateness. Originality/value This paper adds to the limited financial institutions literature and provides the first empirical evidence of the efficacy of innovation and financial resilience on financial institutions survival. The auditing profession could consider more seriously the innovation activities and financial resilience of financial institutions in their test for the going concern assumption of such firms.

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