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The academic finance profession has the potential to be uniquely purposeful due to four characteristics – the freedom to take risks and work on what we're passionate about, the loyalty to our profession rather than just our institution, the collaborative nature of the creation and dissemination of knowledge, and the magnitude of our potential impact. However, what the profession currently values, and its current social norms, are significant barriers to the fulfilment of this potential. This article highlights the special features of our profession that we often take for granted and ignore, and proposes ideas to make it not only more impactful and relevant but also more collegial and fun. [ABSTRACT FROM AUTHOR]

Besides the substantial advantages of adopting information and communication technologies (ICTs), software small medium enterprises (SSMEs) face major challenges largely connected to knowledge sharing, security, and management of data and information. The objective of this paper is to propose a platform backed with the advantages of blockchain technologies, allowing intra‐ and inter‐organizational knowledge and information sharing in SSMEs without losing control and ownership. Blockchain technology has the potential to bring about significant improvements in enhancing business models and processes wherein the authenticity of data is provided by smart contracts at every access point in a distributed information cycle in a transparent manner. The findings will support businesses in enhancing information flow, innovation, and competitive advantage in the current dynamic market. Unlike existing studies, which merely discuss the broader use of blockchain technology in the SSME domain, this paper provides a fresh promising direction in transforming SSMEs digitally. [ABSTRACT FROM AUTHOR]

Copyright of Canadian Geographer is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Public sector purchasing processes are gaining increasing prominence as a demand‐side innovation tool for addressing national sustainability challenges. Accordingly, there has been growing research attention to this topic. Prior studies suggest three key rationales that underlie the use of public sector procurement to drive innovation: (i) the buyer–user rationale (for creating new needs); (ii) the market/system failure rationale (for improving suppliers' capacity to innovate); and (iii) the public services rationale (for improving public services). However, operational activities at the upstream supply chain affecting the sustainable innovation capacities of supplier firms appear to be under‐researched in the public procurement for innovation (PPI) scholarship, despite knowledge about innovation capacity being critical to successfully implementing PPI. This paper adopts a systematic literature review approach to synthesise existing fragmented literature on sustainability‐oriented PPI, focusing on supplier perspectives. Findings from a synthesis of 41 relevant articles suggest, among others conditions, that a procurement framework that maintains a good balance of competition and innovation, builds buyer–supplier relationship and urges strong supply networks, maintains a stable political commitment, offers security for niche markets with effective innovation risk management culture would enhance suppliers' sustainability capacity and propensity to innovate. This paper contributes to the PPI literature and the literature on determinants of sustainable innovation systems from supplier firms' sustainability lens. [ABSTRACT FROM AUTHOR]

Unlike previous studies, this paper specifically casts light on Middle Eastern and North African (MENA) oil exporters that desperately need to give a strong boost to renewable energy (RE) sources and export rather than uselessly burn their hydrocarbon resources, which support an overwhelming part of their economies. This paper extends the previous research by investigating the impact of oil revenues, innovation, financial development, and governance on renewable energy generation in eight oil‐rich MENA countries over the period 1996–2020 using the three‐stage least squares (3SLS) estimator, which is asymptotically more efficient than the two‐stage least squares (2SLS) employed in the similar‐scoped study of Bellakhal et al. (Energy Economics, 2019, 84, 104541). Furthermore, this study aims to detect structural changes in the econometric relationships between variables depending on a novel test with structural breaks proposed by Karavias and Tzavalis (Computational Statistics & Data Analysis, 2014, 76, 391–407). The main findings indicate that oil rents negatively and significantly affect RE production in MENA oil exporters in general and in non‐GCC countries in particular. While renewable energy production in the GCC countries is positively and significantly affected by oil rents. Innovation‐led RE increases at a greater pace in the GCC countries than in their non‐Gulf counterparts. renewable energy production appears to be positively and significantly affected by financial development and governance in oil‐rich MENA countries. [ABSTRACT FROM AUTHOR]

Plastics have transformed the automotive industry, contributing substantially to automobile design, weight reduction, fuel efficiency, safety, and sustainability. This review paper examines the applications of plastics in the automotive sector, evaluates the present trends, and describes the future plastic consumption possibilities, emphasizing emerging technology and sustainable practices. The paper delineates how plastics have become an essential component of automotive innovation and illustrates the possibilities for additional breakthroughs in this dynamic industry. Highlights: Advances in plastics, bioplastics, and smart materials in the auto industry.Plastic role in design, safety, and sustainability in the auto industry.Recycling and the circular economy of plastics in the auto industry.Collaboration of stakeholders to drive change in the auto industry. [ABSTRACT FROM AUTHOR]

Peer review plays an essential role as one of the cornerstones of the scholarly publishing system. There are many initiatives that aim to improve the way in which peer review is organized, resulting in a highly complex landscape of innovation in peer review. Different initiatives are based on different views on the most urgent challenges faced by the peer review system, leading to a diversity of perspectives on how the system can be improved. To provide a more systematic understanding of the landscape of innovation in peer review, we suggest that the landscape is shaped by four schools of thought: The Quality & Reproducibility school, the Democracy & Transparency school, the Equity & Inclusion school, and the Efficiency & Incentives school. Each school has a different view on the key problems of the peer review system and the innovations necessary to address these problems. The schools partly complement each other, but we argue that there are also important tensions between them. We hope that the four schools of thought offer a useful framework to facilitate conversations about the future development of the peer review system. [ABSTRACT FROM AUTHOR]

This paper argues that there is a requirement to connect project management (PM) with innovation and sustainability to address new societal needs. Societal demands have facilitated further complexity and uncertainty within the PM discipline and have led to both theoretical and practical evolutions. Key evolutions are identified, which suggests that PM is becoming more holistic and interdisciplinary in nature so it can successfully deal with this complexity and uncertainty. Furthermore, holistic thinking naturally connects with systemic thinking, which justifies the selection of system dynamics (SD) to support PM decision‐making. An extensive critical review of SD modelling with respect to identified evolutions within the PM discipline is undertaken. The contribution of this paper connects innovation and sustainability to the PM discipline by the initial development of a causal loop diagram (CLD). [ABSTRACT FROM AUTHOR]

Background: With the development of modern medicine, the Traditional Chinese Medicine (TCM) combined with western medicine began to be produced and applied. Scalp acupuncture (SA) as a Chinese medicine based on neurological theory, has a great advantage compared with TCM in the treatment of nervous system diseases. Method: In this paper, we analyze the physiological and pathological manifestations of sexual dimorphism (SD) to illustrate the necessity of SD treatment. In addition, we review the factors that can affect SD and analyze in physiological structure, function, and pathological neurons. Diseases (pathological basis, pathological manifestations, and incidence) and factors leading to gender differences, which to analyze the possibility of gender differences in SA. Result: Furthermore, we creatively a new insight of SD‐SA and provide the complete SD treatment cases on the basis of the existing SA in different kinds of diseases including stroke, migraine, attention deficit hyperactivity disorder (ADHD), and depression. Conclusion: In summary, we believe that it is feasible to improve the clinical effectiveness of SA, which is able to promote the development of SA, and then provides an actionable evidence for the promotion of precision medicine in the future. [ABSTRACT FROM AUTHOR]

The importance of developing sustainable business models has recently received increased interest in society and among scholars. While firms attempt to innovate their business models towards sustainability or create new businesses to address sustainability issues, it becomes clear that there is no one‐size‐fits‐all model when it comes to sustainable business models. Consequently, firms often struggle to identify, develop, and implement sustainable business models that suit them. This paper aims to address this problem by drawing on the wealth of recently published empirical studies and reviewing 87 cases where firms have performed business model innovation to achieve sustainable business models. Four main sustainable business models are identified that have been achieved through different business model innovation strategies. The review contributes to managers by offering a portfolio of strategies to achieve sustainable business models and to research by clarifying the relation between the business model innovation and sustainable business model concepts. [ABSTRACT FROM AUTHOR]

This paper examines how privacy regulation shaped firm performance. Controlling for firm and country‐industry‐year unobserved characteristics, we compare the outcomes of firms at different levels of exposure to EU markets, before and after the enforcement of the General Data Protection Regulation (GDPR) in 2018. We find that the GDPR had the unintended consequence of harming the profitability of companies targeting European consumers through the cost channel. Technology firms experienced a 2.1% decline in profits, but not in sales. The GDPR increased extra expenses, added to firms wage bills, and accelerated patenting in GDPR‐related technology fields. The main burdens have been borne by smaller companies. [ABSTRACT FROM AUTHOR]

Small firms may go green because of intrinsic motivation (to realise their green values) or extrinsic pressure (to satisfy the requirements of stakeholders). While the impacts of these two motivations on firms' green behaviours have been discussed in the literature, their influences on economic behaviours such as innovation remain unclear. This paper aims to investigate the relationship between going green due to intrinsic versus extrinsic motivations and their impact on firms' innovation. We examine a dataset of almost 21,000 small businesses in 39 countries, primarily less developed, from 2018 to 2020. We find that firms going green tend to be more innovative than those that do not. Also, firms going green due to extrinsic pressure are equally innovative as those that do so for intrinsic motivation. In some cases, it is even found that extrinsic pressure exerts a stronger effect on innovation than intrinsic motivation. Moreover, we examine the moderating effects of market competition on the relationship between green motivation and innovation. We find that while competition exerts no effect on the relationship between intrinsic motivation to go green and firm innovation, it strengthens the relationship between extrinsic motivation to go green and firm innovation. Our findings are robust in different empirical settings that control for endogeneity, model specifications and estimators. [ABSTRACT FROM AUTHOR]

Existing research provides contrasting perspectives on the implications of product recalls for firms. While some studies find that recalls represent failures that can motivate firms to innovate, others suggest that the resource‐intensive nature of recalls may inhibit firms from innovating. This study presents a theoretical framework that reconciles these two perspectives by proposing an inverted U‐shaped relationship between a firm's product recall frequency and innovation output. The paper also evaluates the effect of the firm's growth potential on the recall frequency–innovation relationship. Analysis of data on vehicle recalls and recall‐related patents in the automotive sector from 1980 to 2019 confirms the inverted U‐shaped relationship and shows that the relationship is steepened by the growth potential of the firm. Overall, the study presents a more nuanced understanding of learning from product recalls and bridges the supply chain disruption and innovation literature in the context of product recall. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper presents a longitudinal exploration of identification with teams and multiteam systems (MTSs) in an organizational context that started using MTSs. Data were collected in five waves during the first 2 years in which the organization started the implementation of MTSs in order to aggregate teams in value streams as organizational units. The results show that there is a clear and distinct gap between team and MTS identification. This gap is greater in larger MTSs than smaller MTSs. This gap decreases in time mostly due to a rise in MTS identification in combination with a stable team identification across time. Additionally, our research showed that MTS identification is hindered when negative relations are present in the MTS. Finally, we show that identification with the team fosters innovative team performance and the identification with MTS moderates this positive association in a compensatory manner. The findings show important implications for the management of MTSs in modern organizations. [ABSTRACT FROM AUTHOR]

Strategic management scholars have long explored the broad topic of innovation, a cornerstone in creating competitive advantage. Any attempt at theory construction in this area must encompass reliable and valid measures for key innovation characteristics. Yet, with respect to an important construct, i.e., disruptiveness of innovations, there has been relatively little academic research. Without formalizing the disruptiveness concept with a reliable and valid measure, it is difficult to conduct rigorous research to uncover the causes of the innovator's dilemma and identify mechanisms to help incumbents develop such innovations. In this paper, we develop a scale for the disruptiveness of innovations. We collected data from senior executives (vice president or general manager level) at 199 strategic business units (SBUs) in 38 Fortune 500 corporations and performed a series of analyses to establish the reliability and validity of the disruptiveness scale. The reliability measures, exploratory factor analysis, confirmatory factor analysis, and subsequent statistical tests strongly support our measure. Further, we also present nomological validity of the disruptiveness construct, thus establishing its predictive validity. Thus, this paper distinguishes the disruptiveness concept from other established innovation constructs, such as radicalness and competency destroying. Finally, we discuss the significance of our results and how this study might be useful to other researchers. Copyright © 2006 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Most assets clear independently rather than jointly. This paper presents a model based on the uniform‐price double auction which accommodates arbitrary restrictions on market clearing, including independent clearing across assets (allowed when demand for each asset is contingent only on the price of that asset) and joint market clearing for all assets (required when demand for each asset is contingent on the prices of all assets). Additional trading protocols for traded assets—neutral when the market clears jointly—are generally not redundant innovations, even if all traders participate in all protocols. Multiple trading protocols that clear independently can be designed to be at least as efficient as joint market clearing for all assets. The change in price impact brought by independence in market clearing can overcome the loss of information, and enhance diversification and risk sharing. Except when the market is competitive, market characteristics should guide innovation in trading technology. [ABSTRACT FROM AUTHOR]

We re‐examine the cross‐sectional stock return predictability of innovative originality documented in the 2018 paper by Hirshleifer et al. and introduce two measures of patenting activity: patent existence and patent counts. As firms with zero patents have zero innovative originality, we conjecture and find a high correlation between patenting activity measures and innovative originality. The findings of Hirshleifer et al. do not hold when we control for patenting activity. Our results highlight that simple patenting activity measures capture a significant portion of innovative originality, and hence need to be adequately controlled for in future innovation studies. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Power laws in productivity and firm size are well documented empirical regularities. As they are upper right‐tail phenomena, this paper shows that assuming asymptotic power functions for various model primitives (such as demand and firm heterogeneity) are sufficient for matching these regularities. This greatly relaxes the functional‐form restrictions in economic modeling and can be beneficial in certain contexts. We demonstrate this in a modified Melitz (2003) model, which embeds an innovation mechanism so as to endogenize the productivity distribution and generate both of the above‐mentioned power laws. We also investigate the model's welfare implications with regard to innovation by conducting a quantitative analysis of the welfare gains from trade. [ABSTRACT FROM AUTHOR]

Blockchain is increasingly lauded as an enabler of the transition to a circular economy. While there is considerable conceptual research and some empirical studies on this phenomenon, scholars have yet to develop a theoretical model of blockchain's role in this transition. Grounded in the sustainability transition literature, this paper addresses this gap through the following research question: What role does blockchain play in the transition to a circular economy? Following an abductive approach, we conducted interviews with ground‐level experts implementing blockchain innovations for the circular economy across Europe and the United States. Through a thematic analysis, we derived a theoretical model of the relationships among (1) drivers and barriers of the transition to a circular economy, (2) blockchain innovation for the circular economy, (3) technical challenges of blockchain, and (4) the circular economy. While blockchain plays a moderating role, interviewees considered it only an infrastructural resource rather than a panacea. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Innovation represents one of the most important drivers in the business context. Drawing upon the research on corporate social responsibility (CSR), shared value, and innovation, this paper aims to analyze the relationship between Environmental, Social, and Governance (ESG, a form of CSR) sustainability policies and corporate financial performance (CFP) by investigating the mediating role of Innovation (i.e., investment in research and development, R&D). Our sample comprises 148 European companies belonging to the Euro Stoxx index in the period 2009–2014. For high‐innovation companies (HICs), we find positive relationships between some Social (S) issues and CFP and weaker linkages between Environmental (E) indicators and CFP. In contrast, Governance (G) issues (i.e., issues related to board structure and board function) negatively influence CFP. In contrast, for medium‐innovation companies (MICs), these relationships are absent and low‐innovation companies (LICs) show negative relationships. Adopting reporting frameworks or guidelines affects CFP only in HIC. We introduce an original interpretative model, which identifies innovation (R&D) as the main driver in corporate sustainability, particularly in light of Social issues related to the production of a good or service. In terms of managerial implications, we identify three key factors for effectively embedding ESG in organizations' policies: investment in product innovation, compliance with environmental regulations, and corporate choices on brands and channels of external communication. [ABSTRACT FROM AUTHOR]

Since the late 1980s, there has been no explicit regional policy in Canada. Indirectly, though, equalization payments, industrial policies, as well as regional agencies encouraging the adoption of federal industrial and innovation policies, impact regional economies. In 2017, the federal government appeared to alter its approach: the Supercluster initiative was announced, drawing upon the idea that localized networks of interrelated firms can generate innovation and local development. In this paper, we discuss the mechanisms through which spatially focused industrial innovation policy can lead to regional development. We then focus on Canada's Ocean Supercluster initiative. The question we address is as follows: to what extent can this initiative (and, more widely, Canada's Supercluster policy) be understood as a regional development strategy driven by a coherent rationale for regional intervention? Apart from the fact that each Supercluster focuses on a pre‐existing core of firms located within a region, there is little evidence that the Supercluster initiative has regional development objectives or impacts. Key messages: In 2018, Canada's federal government implemented the Supercluster policy. Five regionally focussed clusters were selected for support for business‐led innovation initiatives.Superclusters were presented as a means both to develop regional economies and to enhance Canada's global innovation impact, in a manner similar to Europe's smart specialization.Despite the initial regional dimension, Superclusters are geared towards national, not regional, objectives and do not focus upon regional development processes. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

How do leading companies, organizations and individuals unceasingly produce high‐quality innovations? The actions and thinking of leading practitioners (innovators) originate in Ma thinking, the core theoretical concept presented in this paper. This paper discusses how Ma thinking triggers the combination of creativity and efficiency in people and organizations needed for the achievement of innovation. In particular, this paper discusses new perspectives on organizational actions executed based on Ma thinking to strategically bring about new innovation, which involve dynamic thinking and practices at the micro level of practitioners not only in formal organizations but also in informal organizations. The paper presents detailed case studies and theoretical concepts of innovation activities at the micro level in business workplaces from the perspective of strategic activities and organizational actions. Copyright © 2017 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Innovative industries are often characterized by rapid product turnover. Product longevity may be driven by both a product's position within a market as well as its position within a firm's larger product portfolio. However, we have little understanding of the relative importance of these factors in determining product turnover and how they interact as an industry evolves. Although researchers have invested substantial effort in analyzing firm survival and turnover, there are far fewer studies of the determinants of product survival and turnover. We use hazard rate models and count regression models to describe the behavior of firms and their products with a new and detailed database on the laser printer industry. We show, first, that competition and market structure variables have a large impact on both speeding product exit and delaying product entry. Second, there is some evidence that firms that have maintained a high market share for a number of years keep their products on the market longer than those with lower market share. Finally, firms with high innovative capacity tend to enter markets frequently, but withdraw their products at average rates. Firms with strong brands tend to introduce few products and withdraw their products slowly. With these findings, the paper links product entry and exit decisions to the broader literature on firm strategic and product management. [ABSTRACT FROM AUTHOR]

A central part of the innovation process concerns the way firms go about organizing search for new ideas that have commercial potential. New models of innovation have suggested that many innovative firms have changed the way they search for new ideas, adopting open search strategies that involve the use of a wide range of external actors and sources to help them achieve and sustain innovation. Using a large-scale sample of industrial firms, this paper links search strategy to innovative performance, finding that searching widely and deeply is curvilinearly (taking an inverted U-shape) related to performance. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper extends current knowledge of industry clusters by disentangling the effects of networks from cluster (i.e., distinctly geographic) mechanisms on firm performance as well as by studying the influence of these different mechanisms on firms located inside and outside the industry cluster. It also highlights the importance of simultaneously modeling multiple networks which may differentially influence important firm outcomes. In the paper, I model the innovativeness of Canadian mutual fund companies as a function of their geographic location--inside or outside the industry cluster of Toronto--and of their centrality in networks of managerial and institutional ties. I find that locating in the industry cluster as well as centrality in the managerial tie network enhances firm innovation, while centrality in the institutional tie network does not. [ABSTRACT FROM AUTHOR]

Though antitrust authorities have historically focused on prices in merger analyses, there is now growing interest in the impact of mergers on non‐price outcomes. In this paper, we examine the effect of horizontal mergers on product variety in the U.S. beer industry. Our difference‐in‐differences analyses provide evidence that acquired firms increase variety available to consumers by expanding into new markets, while reducing the variety of products sold in their existing markets. Back of the envelope calculations suggest that in aggregate, these acquisitions have a net positive effect on product variety. [ABSTRACT FROM AUTHOR]

In this paper, we study the impact of endogenous innovation and the external technological environment on total factor productivity. We first develop an endogenous growth model and derive a testable empirical model. We then estimate the empirical model based on the World Bank's worldwide enterprise survey data for 119 countries spanning 2007–2017. Our results suggest that: (i) enterprises' R&D activity increases their total factor productivity; (ii) a higher level of external technology weakens the impact of the R&D activity on total factor productivity; and (iii) enterprises located in low‐ and middle‐income countries often lack continuous innovation. [ABSTRACT FROM AUTHOR]

Knowledge‐intensive services firms prefer to locate in cities that provide access to rich information flows and abundant opportunities for learning‐by‐recruiting. Focusing specifically on such locations, this paper explores how innovation is associated with work experiences "collected" by employees through their recent career paths and the implementation by current employer firms of practices to manage knowledge. Strong complementarities are found using a unique Norwegian dataset: The statistical association between practices and innovation outcomes depends strongly on variety of experience‐knowledge among employees. Conversely, while said variety does not affect innovation in the absence of dedicated practices, it strongly does in their presence. [ABSTRACT FROM AUTHOR]

A highlight of the 2012 ASIS&T Annual Meeting, the pre-conference session on the History of ASIS&T and Information Science and Technology Worldwide drew presenters and attendees from around the globe. The day featured papers on four historical themes, starting with the institutional roots of ASIS&T and recognizing decades of research presented in the Annual Review of Information Science and Technology. The evolution of the field was apparent through a review of information revolutions prompted by the printing press, the post-World War II information crisis and the Internet, as well as through presentations on digital curation,ongoing work on relevance, sense-making theory and developments from Croatia to France.Discussion of the historical contexts of technology innovations and impacts consideredphotographic documentary techniques, binary computing and networking standards. The development of foundational ideas was explored through presentations on pioneering document indexing methods, the semantic challenge of term-oriented retrieval, early European perceptions of classification systems and the French view of communication and information science. Efforts to deepen the historical understanding of information science and technology will continue through oral history interviews, funded research and awards for outstanding papers [ABSTRACT FROM AUTHOR]

Increasingly, strategy scholars are exploring the relationships between innovation, competition, and the persistence of superior profits. Sustained high profitability may result when a firm repeatedly introduces valuable innovations that service previously unmet consumer demands. While the returns to the firm from each innovation may erode over time, innovation ensures that, overall, the firm maintains a high performance position. At the same time, sustained high profitability may also accrue to firms that innovate less often, but effectively avoid the competition that otherwise erodes high returns. This paper elaborates these relationships before presenting an empirical analysis of the effects of differential innovative propensities and differential rates of competition on pharmaceutical firms' abilities to sustain profit outcomes that are above those earned by competing firms. The analysis, which is situated within the U.S. pharmaceutical industry, finds support for the expected relationship between high innovative propensity and sustained superior profitability, but no support for a link between persistence and the ability to avoid competition. [ABSTRACT FROM AUTHOR]

Transport infrastructure has represented one of the cornerstones of development and cohesion strategies in the European Union (EU) and elsewhere in the world. However, despite the considerable funds devoted to it, its impact remains controversial. This paper revisits the question of to what extent transport infrastructure endowment - proxied by regional motorways - has contributed to regional growth in the EU between 1990 and 2004. It analyses infrastructure in relationship to other factors which may condition economic growth, such as innovation, migration, and the local 'social filter', taking also into account the geographical component of intervention in transport infrastructure and innovation. The results of the two-way fixed-effect (static) and difference GMM (dynamic) panel data regressions indicate that infrastructure endowment is a relatively poor predictor of economic growth and that regional growth in the EU results from a combination of an adequate 'social filter', good innovation capacity, both in the region and in neighbouring areas, and a region's capacity to attract migrants. The meagre returns of infrastructure endowment on economic growth raise interesting questions about the opportunity costs of further infrastructure investments across most of Western Europe. Resumen La infraestructura de transporte ha venido siendo una de las piedras angulares de las estrategias de desarrollo y cohesión en la Unión Europea ( UE) y el resto del mundo. Sin embargo, y a pesar de los considerables recursos que se le ha dedicado, su impacto es un tema controvertido. Este artículo revisa el interrogante de hasta que punto ha contribuido la dotación de infraestructura de transporte - representada por las autopistas regionales - al crecimiento regional en la UE entre 1990 y 2004. Se analiza la infraestructura en relación a otros factores que podrían condicionar el crecimiento económico, como la innovación, la migración, y el 'filtro social' local, teniendo en cuenta asimismo el componente geográfico de la intervención en la infraestructura de transporte y la innovación. Los resultados de las regresiones de datos de panel de efectos fijos (método estático) de doble vía y MGM por diferencias (método dinámico) indican que la dotación de infraestructura es un pobre indicador del crecimiento económico y que el crecimiento regional en la UE tiene su origen en una combinación de un 'filtro social' adecuado, en una buena capacidad innovadora tanto en la región como en áreas vecinas, y en la capacidad de la región de atraer migración. Los escasos retornos para el crecimiento económico de la dotación de infraestructura suscitan cuestiones interesantes sobre los costos de oportunidad de futuras inversiones en infraestructura para la mayoría de Europa Occidental. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine the positive impact that the creation of food processing hubs can have on "smart specialisation" on the economic development of regional Australia. The analysis looks at two existing developments in Australia, as well as providing an economic evaluation of another "regional hub" that is currently being proposed. Our paper provides an economic impact analysis of the proposed establishment of a food processing hub in Victoria. It presents an analysis on its impact both at a regional level (Gippsland), and more widely across Australia. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this paper is to test the way in which geographical proximity and technological relatedness relate to an industry's innovative output. Two mechanisms are therefore tested, namely, urbanization economies and the regional exploitation of technological relatedness. A new dataset is applied, which includes German patent applications from within the period 1995 to 2006. Four industries are considered, two of which are science-based, whereas the remaining two are specialized supplier industries. While diversity is associated with high innovative output in the specialized supplier industries, the same does not hold for science-based industries. However, both kinds of industries seem to benefit from recombinant innovation. [ABSTRACT FROM AUTHOR]

Open systems theory purports to offer many benefits related to developing an innovative and sustainable organization. In this paper, we examine if collaborative tools afford a move towards a more open‐orientated organizational form that can support innovation capability and the issues that need to be managed in the process. Constructs that characterize open systems are identified from the literature, and these are used to frame the case analyses on the nature of collaborative tools and changing organizational forms. The validity of the open systems concept is explored through an examination of three case studies. Although collaborative tools offer potential organizational benefits, issues exist in relation to its management and use that can circumscribe its impact. Collaborative tools were used in contexts where there was a weak understanding of open systems concepts, and this resulted in a weak conceptual strategy. The lack of methodological guidance on how to use collaborative tools to become more open was a significant issue. The combination of these two issues created a number of implementation problems including lack of widespread participation and an inability to obtain and leverage knowledge via collaborative tools to improve innovation. The paper highlights that a tool‐focused collaborative systems approach produces less effective integration of collaborative tools and creates problems in moving to a more open organizational form. © 2018 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Open systems theory offers a conceptual platform to understand how systems can be effective in adapting to their environments through purposeful action. It is relevant to the performance of national systems of innovation: open‐oriented countries are more likely to be successful in innovation because of the knowledge exchange between international organizations and organizations within the same country. In this paper, the open systems concept is defined and measured by a number of factors including extent of open trade, information and communication technology development, and online government service measures. In this study, the relationship between the measures of openness and the level of innovation of each country (measured using the Global Innovation Index) is analysed using analysis of variance, with results indicating a positive relationship. The theoretical contribution resides in the argument that a nation's openness relates to innovation capability and that this can be assessed by the factors in the model used in the paper. We argue that rather than focusing on innovation, countries should consider developing an open systems platform for innovation by maximizing their interactions with the international environment and developing mechanisms to circulate knowledge internally within the country. This should result in a supportive context where innovations can emerge. © 2017 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The assumption that 'local search' constrains the direction of corporate R&D is central in evolutionary perspectives on technological change and competition. In this paper, we propose a network-analytic approach for identifying the evolution of firms' technological positions. The approach (1) permits graphical and quantitative assessments of the extent to which firms' search behavior is locally bounded, and (2) enables firms to be positioned and grouped according to the similarities in their innovative capabilities. The utility of the proposed framework is demonstrated by an analysis of strategic partnering and the evolution of the technological positions of the 10 largest Japanese semiconductor producers from 1982 to 1992. [ABSTRACT FROM AUTHOR]

Drawing on the complementary asset theory, this paper develops a conceptual model to explain the relationships among intrafirm knowledge sharing, knowledge application, and innovation as well as the moderating effect of entrepreneurial orientation (EO) on the intrafirm knowledge sharing and knowledge application. Using a sample of 607 Chinese firms, this paper empirically examines this model. The results show that, under China's transition economy, the positive relationship between intrafirm knowledge sharing and a firm's innovation is mediated by knowledge application. Furthermore, intrafirm knowledge sharing facilitates knowledge application, and EO positively moderates this relationship. Copyright © 2009 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

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This paper investigated the spatial effects of innovation and entrepreneurial activity on income inequality of 64 middle‐and‐low‐income countries and 25 high‐income countries from 2000 to 2016. Spatial panel methods are used to address the issues of spatial dependency and spillover effects among neighboring countries. We find the following: (1) Evidence of spatial correlations in income inequality across countries. (2) A positive direct effect between innovation and inequality but a positive feedback from innovation. (3) The relationship between entrepreneurial activity and inequality is mixed. The relationship is positive if entrepreneurial activity is proxied by self‐employment but negative if measured by entry rate. Both produced a negative feedback effect, which suggests that entrepreneurial activity is linked to rising inequality in developing countries. (4) A positive spillover effect from innovation and negative spillover effect from self‐employment. We also investigated whether the linkages between innovation–inequality and entrepreneurial activity–inequality are subject to a country‐level institutional quality. The findings suggest that the interaction terms have negative effects on income inequality. For policy implications, innovation sharing should be encouraged to reduce monopoly power that increases the tendency for wealth accumulation. Another possible solution to increase entrepreneurial activities while reducing inequality is for governments in developing countries to offer various schemes targeted at the poor, especially finance. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)