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We study how the human capital embedded in teams is affected by, and reallocated through, corporate bankruptcies. After a bankruptcy, U.S. inventors produce fewer and less impactful patents. Moreover, teams become less stable. Consequently, compared to inventors that rely less on teamwork, the performance of team inventors deteriorates more. These findings point to the loss of team-specific human capital as a cost of resource reallocation through bankruptcy. Acquisitions by industrial firms and joint mobility of inventors with past collaborations limit these losses, suggesting that the labor market and the market for corporate control help preserve team-specific human capital in bankruptcies. [ABSTRACT FROM AUTHOR]

Research & Innovation (R&I) policy initiatives employed by the European Union (EU) across its regional economies are important instruments to ensure the scientific and technological progress along with the associated benefits. One relevant aspect in this regard is to encourage and enable collaboration between regional partners to enhance potential learning opportunities and to ensure cohesive long-term development patterns. Furthermore, frequently these initiatives are also targeted at specific technology sectors, such as the EU R&I policy actions towards nanotechnology. Based on an advance theoretical framework and data from the official EU project databases as well as regionalized European Patent Office data, the present study develops a methodological tool through which it is possible to identify effective collaboration settings, while providing policymakers and evaluators with a practical tool that will enable them to predict the possible outcomes of such critical EU-funded R&I projects from the onset. [ABSTRACT FROM AUTHOR]

Firms in younger labor markets produce more innovation. We establish this by instrumenting the current labor force with historical births in each local labor market in the United States. Analyses of firms and inventors allow us to rule out unobservable heterogeneity across local labor markets and firms, life cycles, and other effects. Corporate innovation in younger labor markets reflects the innovative characteristics of younger labor forces, and its market value is higher. Younger workers as a group, not merely inventors by themselves, produce more innovation for firms through the labor force channel rather than through a financing or consumption channel. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

Using Chinese listed companies from 2010 to 2022, this study empirically examines the impact of digital technology innovation on corporate ESG performance. The results show that digital technology innovation significantly enhances corporate ESG performance, positively impacting E, S, and G aspects. The mechanism analysis indicates that digital technology innovation further improves enterprises’ ESG performance by fostering green innovation, and enhancing the corporate governance structure. Moreover, the heterogeneity analysis reveals that digital technology innovation can better promote the improvement of ESG performance in larger enterprises, non-state-owned enterprises, industries with heavy pollution, non-high-tech industries, enterprises in the eastern and central regions, and regions with better business environments. This study enriches and expands the scope of research on the effects of the digital economy at the micro level, and provides new research perspectives to help listed companies effectively fulfil their ESG responsibilities and achieve carbon peaking and carbon neutrality goals. [ABSTRACT FROM AUTHOR]

We provide new evidence that disruptions in firms' access to credit during the Global Financial Crisis significantly affected product innovation in the consumer goods sector. We combine highly granular retail scan data with lending data and find that credit-constrained firms introduced fewer new products, those products were less novel, and new products sold less well. Overall, these findings suggest that disruptions to credit markets impair firms' ability to compete for profits through new product offerings. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

While extensive research studies exist on the influence of AI solutions on organizations as a whole, there is a paucity of comprehensive studies examining the adoption of these solutions in product development and subsequent management processes. This article presents an exploratory investigation of the applications, challenges, and determinants of success associated with artificial intelligence (AI) solutions employed in the product development and management processes. To this end, a qualitative thematic analysis is conducted based on twelve in-depth interviews with experts proficient in AI engineering and product management, representing twelve distinct organizations within the Polish IT sector. This article offers insights into four potential applications and expounds on various factors impacting the challenges and success of deployed AI solutions, generating two additional emergent themes. This article delineates practical implications for organizations and product managers and proposes intriguing directions for future research exploring topical areas of study.

The commitment of manufacturers in research and development activities (R&D) and the realization of technological innovations have become effective means of stimulating economic growth.

Environmental, social, and governance (ESG) performance, along with the novelty of innovation, are significant factors in promoting sustainable development for corporations. This study employs the Heckman two-stage model to examine the impact of ESG performance on innovation novelty using a dataset comprising A-share listed companies in the Shanghai and Shenzhen Stock Exchanges from 2011 to 2020. The results indicate that enhanced ESG performance significantly fosters innovation by expanding innovation resources and mitigating agency problems. Further analysis reveals that this relationship is more pronounced under high economic policy uncertainty, a challenging information environment, elevated financing constraints, and in the context of digital transformation. This study not only expands the research on the economic implications of ESG performance for enterprise innovation behavior but also places a distinct emphasis on innovation quality rather than quantity. Additionally, this study enriches the existing literature on the factors influencing innovation novelty and extends research into the link between environmental protection and firm innovation, particularly from the perspective of stakeholder theory. Furthermore, this study holds practical significance for governments aiming to enhance ESG evaluation systems and establish guiding policies that encourage novel innovations, ultimately contributing to sustainable and high-quality development. Simultaneously, this study provides guidance to enterprises by encouraging them to embrace green development, improve social responsibility, and elevate their governance standards to promote innovation quality.

This paper attempts to analyse the effect of insurance development on sophistication measured by the economic complexity index. Empirical analyses are carried out on a sample of 36 African countries over the period 2003-2019. In order to limit potential endogeneity biases, we run the two-step system Generalized Method of Moments and the Lewbel estimator. Empirical results, robust to a set of sensitivity analyses, show that insurance development can foster economic complexity in Africa. Moreover, when distinguishing between life and non-life insurance, empirical results remain globally unchanged, with a greater effect of non-life insurance as compared to that of life insurance. Furthermore, the mediation analysis enabled us to identify innovations and investments as some transmission channels through which insurance development may affect economic complexity in Africa. Thus, African leaders would do well to improve the regulation of the insurance business to enable it to participate effectively in financing the economy and managing risks, thereby stimulating economic complexity. [ABSTRACT FROM AUTHOR]

In recent decades, innovation has become recognized as a key driver of economic growth. This study investigated the relationship between innovation and economic growth in 32 African countries from 2006 to 2017. The linear regression panel corrected standard errors (PCSEs) regression estimation was used to analyze the data. PCSE estimation accounted for heteroskedasticity and possible contemporaneous correlation across panels. The findings showed a positive association between the innovation index and economic growth. This result remained true even when research and development (R&D) expenditure (the conventional measure of innovation) was considered for a handful of countries. This finding highlights the significance of innovation in fostering economic growth. The study also found that domestic investment and human capital encouraged economic growth. The study estimated an endogenous growth model with an alternative measure of innovation. Based on the findings, the study recommends that African countries provide financial and material support for R&D in public and private institutions through funding, imparting entrepreneurial research attitudes in academics, and providing an enabling environment for business enterprises. [ABSTRACT FROM AUTHOR]

While intellectual property (IP) management is critical for innovation, specific knowledge and innovation patterns within it can obstruct commercialisation. This study explores how these patterns impede the path to market success for emerging innovations. We introduce a novel method to detect and recognise these patterns, offering insights into factors contributing to innovation system failure. Applying the Triple Helix Model, we leverage text mining, network analysis, and structural equation modelling within the Russian pharmaceutical industry. Our research reveals limitations in the triple helix model’s ability to capture problematic innovation patterns. Notably, local-closed and local semi-closed innovation networks emerge as significant barriers to commercialisation, further exacerbated by foreign dominance. While strong actor synergy is crucial, it alone cannot guarantee competitive advantage. Factors like geographical distance, disciplinary silos, and limited external collaboration further hinder success. This study highlights the need for effective knowledge production and collaboration practices, alongside strong synergy, to achieve market-leading innovations. Recognising and addressing these patterns can inform policy decisions, ultimately fostering more robust innovation outcomes, advancing innovation system theory in the process. [ABSTRACT FROM AUTHOR]

The risk of failure in innovation projects affects organisational behaviour and the performance of firms. This study develops a theory of errors in innovation project-level failure. Error is a set of faults that generates deviations in phases of the R&D process in projects, decreasing the expected results. From a systemic perspective, innovation failure in a project is due to a set of errors that generates a negative outcome. The proposed theory clarifies the general determinants of innovation failure in projects that are due to errors in design, execution and market orientation. Case studies in the drug discovery industry and pharmaceuticals validate the consistency of the proposed theory, giving examples of errors in projects leading to innovation failures. The payoff matrix of success/failure occurrences predicts that the probability of failure in innovation projects can double by setting a difficult goal compared to an easy one. Inductive implications of the proposed theory are that organisations reduce innovation failure in projects with better adaptedness to changes that minimise errors and learn from them. The proposed theory can guide R&D managers, designers, etc. in detecting critical errors in the R&D process to apply strategies of problem solving based on a winning approach by learning from errors that lead to innovation failure in projects to enable the organisation to adapt, take advantage of important opportunities and cope with consequential environmental threats for achieving goals and sustaining the competitive advantage in turbulent markets. [ABSTRACT FROM AUTHOR]

New firms have been regarded as one of the key elements for local development. Existing studies focus on the direct impact of new firms via labour markets and job creation. However, the impact of new firms on regional innovation is less investigated. Our analyses are conducted for a developing country, Turkey. Findings of the study show that new firms are crucial for the regional differences in innovation. Results are robust to spatial dependence, an alternative firm formation measure, various regional controls and endogeneity issues. Additionally, impact of the new firms is spatially non-homogenous reminding the ineffectiveness of one-size-fits-all type policies. [ABSTRACT FROM AUTHOR]

In this article, we examine how symbolic knowledge innovation—that is, the recombination of ideas on aesthetic value in new ways—emerges in the periphery. While symbolic knowledge innovation drives growth, its role in creating new paths in the periphery is largely under-investigated. New path creation has been largely envisaged through macro (e.g. policy) or meso (e.g. industrial R&D) aggregates, overlooking micro-level actors (e.g. individuals), and their agency in mobilizing heterogeneous resources vital for innovation. Viewed in this light, we investigate how the interaction of actors at different levels (macro, meso, and micro) shapes symbolic knowledge innovation in the periphery. We draw on the case of Bauhaus movement to investigate symbolic knowledge innovation in the peripheries of Weimar and Dessau. Our findings illustrate symbolic knowledge innovation at the Bauhaus in terms of three phases, namely, semiotic codes: Bauhaus idea generation and articulation; material basis: development of Bauhaus artefacts; and material basis: Bauhaus commercial success. We further unpack actors' agency and show how each phase of symbolic knowledge innovation emerges through bricolage. We contribute to the economic geography literature by showing the role of bricolage and actors' agency in symbolic knowledge innovation for new path creation in the periphery. [ABSTRACT FROM AUTHOR]

Purpose: The main purpose of this paper is to explore whether the nature of innovation is accumulative or radical and to what extent past year accumulation of technology stock can predict future innovation. More importantly, the authors are concerned with whether a change of policy regime or a variance in the quality of technology will moderate the nature of innovation. Design/methodology/approach: The authors examined a dataset of 3.6 million Chinese patents during 1985–2015 and constructed more than 5 million citation pairs across 8 sections and 128 classes to track knowledge spillover across technology fields. The authors used this citation dataset to calculate the technology innovation network. The authors constructed a measure of upstream invention, interacting the pre-existing technology innovation network with historical patent growth in each technology field, and estimated measure's impact on future innovation since 2005. The authors also constructed three sets of metrics – technology dependence, centrality and scientific value – to identify innovation quality and a policy dummy to consider the impact of policy on innovation. Findings: Innovation growth is built upon past year accumulation and technology spillover. Innovation grows faster for technologies that are more central and grows more slowly for more valuable technologies. A pro-innovation and pro-intellectual property right (IPR) policy plays a positive and significant role in driving technical progress. The authors also found that for technologies that have faster access to new information or larger power to control knowledge flow, the upstream and downstream innovation linkage is stronger. However, this linkage is weaker for technologies that are more novel or general. On most occasions, the nature of innovation was less responsive to policy shock. Originality/value: This paper contributes to the debate on the nature of innovation by determining whether upstream innovation has strong predictive power on future innovation. The authors develop the assumption used in the technology spillover literature by considering a time-variant, directional and asymmetric matrix to model technology diffusion. For the first time, the authors answer how the nature of innovation will vary depending on the technology network configurations and policy environment. In addition to contributing to the academic debate, the authors' study has important implications for economic growth and industrial or innovation management policies. [ABSTRACT FROM AUTHOR]

This paper studies research and development (R &D) for product innovation of firms faced with "product life cycles." We represent the concept of product life cycles with bounded revenue and profit functions and describe R &D for product innovation as an activity to control the "birth rate of a new product" (i.e., the probability of product innovation). We then derive the optimal level of R &D, corresponding to the optimal birth rate of a new product, and show that the growth rate of the firm's expected total revenue converges to the optimal birth rate of a new product in the long run. [ABSTRACT FROM AUTHOR]

This paper explores the way that intellectual property rights (IPRs) protection as a moderator variable affects firm-level productivity gains through innovation (filing patents) and diffusion (importing goods). Applying the estimation method of conditional average treatment effect by Lee, Okui, and Whang (2017) to Chinese firm data, I show the graphic representation of the non-linearity that characterizes the heterogeneous average treatment effects of patenting and importing activities on firm productivity. The graphic results suggest that the productivity effect of patenting is positively influenced by local IPRs protection, while that of importing is initially negatively and subsequently positively affected by IPRs protection. I also find that overstrict protection of IPRs may diminish the productivity impact of both channels, and private-owned firms rely more on IPRs protection to enhance productivity through filing patents. [ABSTRACT FROM AUTHOR]

The main objective of this study is to seek the robust and significant determinants of National Innovative Capacity in technologically advanced economies. In this era of knowledge-based economies having rapidly changing technology, innovation and digitization, it is very important to examine what determines innovation. For this purpose, the role of Information and Communication Technology, Exposure to external technology, R&D expenditure, Human capital, Governance and financial deepening in shaping the national innovative capacity is examined empirically. The aim is to reflect the factors that influence innovation and knowledge creation activities at national level. The study uses a panel of 13 technologically advanced countries with the aim to learn from the best practices. The fixed effect with robust standard errors estimation technique is used for estimation of the model over the period 1996–2015. Moreover, the innovative output index (IQ) is estimated to judge and analyze the national innovative capacity of selected countries. The results suggest that the core variables of estimated model remained significant with expected sings and yielded positive impact on dependent variable. Based on the results, it is suggested that the developing economies should make substantial investments in above mentioned factors in order to go along the path similar to OECD advanced economies. [ABSTRACT FROM AUTHOR]

Although a sizable body of research concerning innovation and intellectual property (IP) performance exists, there has been limited attention on whether the state of IP strengthens or curtails innovation activity in the global south, specifically among sub-Saharan Africa firms. This article analyzes the direct impacts of IP on innovation performance in sub-Saharan Africa, namely patents, copyrights, industrial designs, and trademarks. The paper responds to firms extracting value from intellectual property strategies through innovation activities and overall performance. Using the World Bank Enterprise Survey (WBES) and Innovation Follow-up Survey (IFS), we find that appropriation channels are essential for transforming innovation pursuits into a competitive advantage. Our results further reinforce that appropriation mechanisms are crucial to innovation and may allow firms to gain returns on their innovation activities. Regardless of the weaknesses and limitations of the patenting strategy in sub-Saharan Africa, the probability of patenting an innovation relates to a process and product innovation while controlling for several other effects. More importantly, we demonstrate how industrial designs and improved or changed trademarks can foster inclusive performance. In addition, we show that beyond perception-based innovations, intellectual property strategies also matter to innovation intensity and sales growth. Consequently, our results indicate that the significance of innovation for competitiveness puts intellectual capital at the critical juncture of knowledge management. [ABSTRACT FROM AUTHOR]

Project management and project portfolio management (PPM) foster competitiveness by facilitating the implementation of organizational strategy. Although organizations often struggle to develop PPM capabilities, the academic community does not have an in-depth understanding of the conditions for successfully developing these capabilities. In response, we conducted a multiple-case study with 50 interviewees to develop a theoretical model of the PPM capability-building process. This model is built on the notion of organizational sensemaking and identifies aspects that comprehensively explain why it usually takes so long to develop PPM capabilities. We conceptualize the PPM capability-building process as one that is strongly influenced by (1) the effects of structural rearrangements, (2) the appropriate use of external resources during that process, (3) the role of executive support and legitimization, (4) episodes of regression, and (5) the need for internalization and habitualization. In addition, we provide starting points for explaining organizational capability building in more general terms. [ABSTRACT FROM AUTHOR]

Empirical studies based on detailed, theory-based analyses are essential for a deep understanding of technology adoption. This study provides an overview of blockchain applications in logistics management, employing a comprehensive theoretical framework. Blockchain is considered a critical digital infrastructure for logistics operations due to its distinctive characteristics, including decentralization, transparency, immutability, real-time information sharing, reliability, and end-to-end visibility. These characteristics address many contemporary logistics challenges. The study introduces a research model that integrates the fit-viability model (FVM) and task technology fit theory (TTF), demonstrating blockchain's suitability for enhancing logistics operational functions and sustainability performance. To validate the model, data were collected from logistics managers of 576 companies and analyzed using partial least squares (PLS) regression. This research offers valuable insights for managers, policymakers, and decision-makers on practical challenges and potential solutions in logistics through the application of blockchain. Furthermore, the study demonstrates that the implementation of blockchain can improve the alignment, resilience, transparency, integration, and sustainability of logistics tasks.

This study investigates the impact of entrepreneurs' technical backgrounds on innovation output from the perspective of innovation quantity and quality, using data from A-share listed private companies in China between 2009 and 2018. Our analysis reveals that CEOs with technical expertise significantly enhance both the quantity and quality of firm innovation. We identify three key mechanisms through which technical backgrounds promote innovation: increased management attention to innovation, reduced information asymmetry, and enhanced long-term investment. These findings contribute to the literature on Upper Echelons Theory and corporate innovation, offering practical insights for private enterprises aiming to achieve talent-driven technological innovation and foster high-quality development.

This article investigates whether a micro-entrepreneur's personality influences their innovativeness. Using the Big Five theory and a broad definition of innovation from the 4th version of the Oslo Manual (two types and nine categories of innovations in total), the study analyses data from 1,848 Polish micro-entrepreneurs. Since innovativeness is a complex process with several interdependencies, and previous research shows that introducing one type of innovation is not independent of introducing other types, Multivariate Probit (MVP) regression was used to estimate the models. The results allow two conclusions to be drawn. Firstly, in the case of product innovations implemented by micro-entrepreneurs, three personality traits have a positive impact. These are Openness to experience, Conscientiousness and Extroversion. Secondly, in the case of business process innovations, all 7 types are positively influenced by two personality traits, namely Openness to experience and Extroversion.

This study examines the innovation process through the interrelationships of entrepreneurial orientation (EO) dimensions in an emerging economy. Using a five-point Likert scale, we adopt a survey approach to measure individuals’ EO dimensions and explore the relationship between proactiveness, risk-taking, motivation, and innovation outcomes. We test our hypotheses using a sample of 466 individuals in Kuwait. Survey data are analyzed using principal component analysis (PCA) and a partial least squares approach. The results indicate that proactiveness and motivation positively relate to risk-taking. In addition, we find that our mediating variable, risk-taking, directly impacts innovation. The is an indirect effect of motivation and proactiveness on innovation, through risk-taking. These findings shed light on the interrelationships among different dimensions within the EO framework, pathways towards innovation, and provide meaningful insights for promoting innovation outcomes.