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Schiller D. and Revilla Diez J. The impact of academic mobility on the creation of localized intangible assets, Regional Studies. Researchers are carriers of significant amounts of knowledge. International academic mobility is thus an important mechanism for inducing interregional knowledge flows. This paper analyses mobility patterns of star scientists, the rationale behind their mobility decisions, and interrelations between academic mobility and the creation of localized intangible assets. In-depth material from twenty-five interviews with star scientists in Germany is combined with data from other studies. One major finding is that the long-term mobility of star scientists in the past simultaneously increased the amount of induced knowledge flows and the creation of localized intangible assets. Schiller D. and Revilla Diez J. 学术流动性对于地方无形资产出现产生的影响，区域研究。研究者拥有大量重要知识。国际研究者的流动性因而成为引发区域间知识流的重要机制。本文分析了明星科学家的流动性模式，影响其流动性的原因以及学术流动性与地方无形资产出现的相互关系。研究将针对 25 名德国明星科学家进行访谈的详细资料与其他研究数据相整合。主要的研究发现之一是明星科学家长期的流动性增加了知识流，同时创造了地方无形资产。 明星科学家 流动性 嵌入 知识流 无形资产 Schiller D. et Revilla Diez J. L'impact de la mobilité universitaire pour la création des immobilisation incorporelles localisées, Regional Studies. Les chercheurs sont des porteurs d'une connaissance considérable. La mobilité universitaire internationale s'avère alors un important moyen de provoquer des flux de connaissance interrégionaux. Cet article cherche à analyser la distribution de la mobilité des scientiques de renommée, la logique de leurs décisions de se déplacer et la corrélation entre la mobilité universitaire et la création des immobilisations incorporelles localisées. On combine la documentation détaillée qui provient de vingt-cinq interviews auprès des scientifiques de renommée en Allemagne et des données des autres études. Une importante conclusion est la suivante: dans le passé, la mobilité à long terme des scientifiques de renommée a augmenté simultanément l'importance des flux de connaissance provoqués et la création des immobilisations incorporelles localisées. Scientifiques de renommée Mobilité Ancrage Flux de connaissance Immobilisations incorporelles Schiller D. und Revilla Diez J. Auswirkung der Mobilität von Wissenschaftlern auf die Schaffung lokalisierter immaterieller Vermögenswerte, Regional Studies. Wissenschaftler sind Träger einer signifikanten Menge impliziten Wissens und ihre räumliche Mobilität ist daher ein zentraler Mechanismus, um internationale und interregionale Wissenstransfers zu induzieren. Dieser Artikel analysiert die Mobilitätsmuster von Spitzenforschern, die ihnen zugrunde liegenden Motive und den Zusammenhang zwischen der Mobilität von Wissenschaftlern und der Schaffung lokalisierter immaterieller Vermögenswerte. Dazu wird umfassendes empirisches Material aus 25 qualitativen Interviews mit Spitzenforschern in Deutschland mit den Ergebnissen bestehender Studien kombiniert. Ein wesentliches Ergebnis dieser Untersuchung ist, dass längerfristige Auslandsaufenthalte von Spitzenforschern in der Vergangenheit den Umfang der von ihnen ausgelösten Wissensflüsse erhöhen und damit die Schaffung lokalisierter immaterieller Vermögenswerte fördern. Spitzenforscher Mobilität Einbettung Wissensflüsse Immaterielle Vermögenswerte Schiller D. y Revilla Diez J. El impacto de la movilidad académica en la creación de activos intangibles localizados, Regional Studies. Los investigadores son portadores de cantidades significativas de conocimiento. Por consiguiente, la movilidad académica internacional es un importante mecanismo para inducir flujos de conocimiento interregional. En este artículo analizamos los modelos de movilidad de científicos estrella, los fundamentos de sus decisiones de movilidad y las interrelaciones entre la movilidad académica y la creación de activos intangibles localizados. Para ello combinamos material exhaustivo de veinticinco entrevistas con científicos estrella en Alemania con los datos de otros estudios. Una importante constatación es que la movilidad a largo plazo de los científicos estrella aumentaba antes simultáneamente la cantidad de flujos de conocimiento inducidos y la creación de activos intangibles localizados. Científicos estrella Movilidad Anclaje regional Flujos de conocimiento Activos intangibles [ABSTRACT FROM PUBLISHER]

This paper studies the market valuation of R&D in Denmark for 1989-2001, adding to the limited number of studies of countries outside of the US or the UK. In terms of financial systems or ownership structure, Denmark can be seen as an intermediate case between Anglo-Saxon models in the US and the UK and large continental European countries such as France, Germany and Italy. In order to facilitate international comparison, the analysis follows Hall and Oriani (2006), and it is found that the relative shadow value of R&D for Denmark is larger than comparable values for France, Germany, Italy and the US, and similar to those for the UK. Though, while relative shadow values are high overall, shadow values are substantially lower for firms with high R&D intensity. The role of ownership structure is also examined and it is found, in contrast to comparable results for France and Italy, that R&D is actually valued more highly in Danish firms with a single large shareholder. It is argued that this difference may be due to greater investor protection in Denmark. [ABSTRACT FROM AUTHOR]

The development of foreign markets can be considered as a strategic key factor in times of globalisation. However, past empirical research could not detect a 'universal' relationship between corporate multinationality and performance. There exist fundamental doubts whether the contextual condition of internationalisation of one empirical setting can be easily transferred to another setting for investigating the relationship between multinationality and performance. For instance, potentials for realising economies of scale in the home market and abroad, the degree of integration of neighbouring countries, as well as the accumulated internationalisation experience, can differ significantly from each other between countries. Taking into account the contextual conditions of internationalisation of stock-listed German firms in the time period from 1990 to 2006, this paper analyses the performance effects of firms' multinationality. Firms of this sample can benefit from multinationality even in early internationalisation stages and are able to manage high degrees of complexity in later internationalisation stages successfully. Firm-specific advantages in the field of intangible assets with long-term (short-term) effects moderate the relationship between multinationality and future-oriented (past-oriented) performance positive. [ABSTRACT FROM AUTHOR]

Purpose: The present paper is aimed to investigate the relationship between intangible assets, macroeconomic environment and market value of German, English and Portuguese public companies from 1999 to 2016. Although the IAS 38, assigns value to intangible assets, there is a gap between accounting and the market need. This gap is given by accounting conservatism in the accounting of intangible assets and by their difficult measurement. The verification of the impact of the intangibles on the company's market value is done through the methodology proposed by Gu and Lev (2011), using proxies such as CDS, Libor and Euribor and sensitivity tests. IDE is expected to reflect intangible capital and create shareholder value. This study seeks to interpret the contribution of intangibles and to forecast their impact on the market. Originality/value: The theme of evaluation of intangible assets has been approached in several ways. Its relevance lies in the need to establish methods for its measurement. Design/methodology/approach: The methodological approach is quantitative research with panel data using Stata-15. The database is the Capital IQ with public companies, listed in Germany, England, and Portugal from 1999 to 2016, with annual frequency. Findings: The results suggest that the comprehension value has a positive and significant relationship with the market value of the companies and that the intangible capital and the intangibles-driven-earnings are positively related to research and development expenses and general, administrative procedures. [ABSTRACT FROM AUTHOR]

The spatial scope of knowledge flows is a topic of fierce debate. While several studies have focused on single modes, the aim of this paper is to look at different knowledge flows originating from individual scientists, namely, scientific and industrial collaboration, entrepreneurial activities and human capital formation. The analysis is based on qualitative data acquired from interviews with distinguished German scientists from the disciplines of science and technology. It was found that the excellence of star scientists manifests itself in several ways. However, the results do not confirm the expectation that knowledge flows are predominantly locally embedded. The impact on the local economy was especially low for industrial collaborations. [ABSTRACT FROM AUTHOR]

Kramer J.-P. and Revilla Diez J. Catching the local buzz by embedding? Empirical insights on the regional embeddedness of multinational enterprises in Germany and the UK, Regional Studies. What determines the regional embeddedness of multinational enterprises and how do these globally operating firms harness external knowledge which is considered to be ‘out there’ in regional innovation systems? Despite the increasing importance of this matter, from both a research and a management perspective, there is still an insufficient understanding of the regional embeddedness of multinational enterprises. By integrating insights from studies on intangible assets, corporate organization of innovation and regional innovation systems, this exploratory case study analysis presents a novel matrix of multinational enterprise regional embeddedness, using qualitative evidence from fifty-six in-depth interviews with senior members of leading multinational enterprises from the information and communication technology, automotive, and pharmaceutical industries from highly developed regional innovation systems in Germany and the United Kingdom. Kramer J.-P. and Revilla Diez J. 通过嵌入把握地方复杂性？对于德国以及英国多国企业区域嵌入的经验研究，区域研究。是什么决定了多国企业的区域嵌入及其在区域创新系统中利用所谓的外部知识？尽管这个问题的重要性与日俱增，但目前从研究及管理视角对多国企业区域嵌入进行的理解还欠充分。通过整合无形资产、创新及区域创新系统的公司组织的相关研究结果，本案例展示了研发领域中多国企业的区域嵌入矩阵，定性数据来自针对各公司高级管理人员进行的56次深度访谈， 对象涉及德国与英国创新系统中的通信技术、自动化及制药产业。 区域嵌入 多国企业 创新组织 无形资产 区域创新系统 Kramer J.-P. et Revilla Diez J. Prendre le pied localement en s'y ancrant? Des aperçus empiriques sur l'ancrage régional des entreprises multinationales en Allemagne et au Royaume-Uni, Regional Studies. Qu'est-ce qui détermine l'ancrage régional des entreprises multinationales et comment ces entreprises qui opèrent sur le plan mondial est-ce qu'elles exploitent au sein des systèmes d'innovation régionaux la connaissance externe que l'on considère être ‘dehors’? En dépit de l'importance accrue de cette question, quant à la recherche et à la gestion, on comprend mal l'ancrage régional des entreprises multinationales. A partir des preuves qualitatives provenant de cinquante-six interviews détaillés auprès des cadres supérieurs des premières entreprises mutlinationales des industries de la technologie de l'information et de la communication, automobile, et pharmaceutique dans des systèmes d'innovation régionaux extrêmement développés en Allemagne et au Royume-Uni, et en intégrant des aperçus qui proviennent des études sur les immobilisations incorporelles, l'organisation d'entreprise de l'innovation et les systèmes d'innovation régionaux, cette étude de cas exploratoire cherche à présenter une matrice originale de l'ancrage régional des entreprises multinationales. Ancrage régional Entreprises multinationales Organisation de l'innovation Immobilisations incorporelles Systèmes d'innovation régionaux Kramer J.-P. und Revilla Diez J. Nutzung des lokalen Trends durch Einbettung? Empirische Einblicke in die regionale Einbettung von multinationalen Unternehmen in Deutschland und Großbritannien, Regional Studies. Wovon hängt die regionale Einbettung multinationaler Unternehmen ab, und wie nutzen diese weltweit tätigen Firmen externes Wissen, das in regionalen Innovationssystemen vermutet wird? Trotz der wachsenden Bedeutung dieses Aspekts aus der Perspektive der Forschung und Betriebsführung wird die regionale Einbettung von multinationalen Unternehmen nach wie vor nicht ausreichend verstanden. Durch eine Integration der Einblicke von Studien über immaterielle Vermögenswerte, über die unternehmerische Organisation von Innovation und über regionale Innovationssysteme wird in dieser exploratorischen Fallstudienanalyse mit Hilfe von qualitativen Belegen aus 56 Tiefeninterviews mit Führungskräften hochrangiger multinationaler Unternehmen der Informations- und Kommunikationstechnologie sowie der Automobil- und Pharmaindustrie aus hochentwickelten regionalen Innovationssystemen in Deutschland und Großbritannien ein neuartiges Raster der regionalen Einbettung von multinationalen Unternehmen vorgestellt. Regionale Einbettung Multinationale Unternehmen Organisation der Innovation Immaterielle Vermögenswerte Regionale Innovationssysteme Kramer J.-P. y Revilla Diez J. ¿Aprovechar la tendencia local mediante la integración? Perspectivas empíricas sobre la integración regional de empresas multinacionales en Alemania y el Reino Unido, Regional Studies. ¿Qué determina la integración regional de las empresas multinacionales y cómo aprovechan estas sociedades, que operan internacionalmente, el conocimiento externo que se considera disponible en los sistemas de innovación regional? A pesar de la creciente importancia de este aspecto desde un punto de vista científico y de gestión, existe todavía un conocimiento insuficiente de la integración regional de las empresas multinacionales. Al integrar los resultados de los estudios sobre activos intangibles, sobre la organización corporativa de la innovación y sobre los sistemas regionales de innovación, en este análisis monográfico experimental presentamos una nueva matriz para la integración regional de empresas multinacionales. Para ello utilizamos evidencias cualitativas de cincuenta y seis entrevistas exhaustivas realizadas a miembros ejecutivos de importantes empresas multinacionales en el sector de la tecnología de la información y la comunicación, la automoción y las industrias farmacéuticas de sistemas regionales de innovación altamente desarrollados en Alemania y el Reino Unido. Integración regional Empresas multinacionales Organización de la innovación Activos intangibles Sistemas de innovación regional [ABSTRACT FROM PUBLISHER]