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  • 151.
    Lawoko, Nancy
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    Kostnadsstyrning/Cost Management2004Independent thesis Basic level (university diploma), 20 credits / 30 HE creditsStudent thesis
  • 152.
    Liu, Jing
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Online shopping diffusion in China: A study of factors that influence adoption2013Independent thesis Advanced level (degree of Master (Two Years)), 80 credits / 120 HE creditsStudent thesis
  • 153.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    A Comparative Perspective on Innovation and Productivity in Manufacturing and Service Firms2004In: Entrepreneurship, the New Economy and Public Policy: Schumpeterian Perspectives / [ed] Uwe Cantner, Elias Dinopoulos Robert F. Lanzillotti, Springer Berlin/Heidelberg, 2004, p. 181-202Chapter in book (Refereed)
  • 154.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    A Comparative Perspective on Innovation and Productivity in Manufacturing and Services2004Report (Other academic)
    Abstract [en]

    This paper serves as another complementary link in a chain of a rather limited number of investigations in the R&D-innovation-productivity relationship within service industries. Innovation has been found to be a major contributor to productivity growth in manufacturing. In this paper, the importance of innovation is explored by comparing manufacturing and service firms in a sample of knowledge intensive industries. In particular we intend to find evidence on the following two issues. First, is there any evidence that the reported weak rate of productivity growth in knowledge intensive services can be explained by a low propensity to be innovative? Second, is it possible that knowledge intensive service firms are less efficient in deriving benefits from innovation than knowledge intensive manufacturing firms? Empirical results based on innovation survey data indicate a surprising similarity in innovation performance between the two categories of firms.

  • 155.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Are Services Different Exporters?2009Report (Other academic)
    Abstract [en]

    Using an unbalanced panel of about 260,000 Swedish firm-level observations over the period 1997-2006, this paper shows that half of the firms exporting goods are service firms that account for a substantial and increasing share of the total value from exports of goods. Between 1997 and 2006 this fraction increased from 25% to 34%. Previous research provides little systematic evidence of this extension of goods exports among service firms or the benefits of exporting. This paper shows that service firms do become exporters for the same reasons as manufacturing firms. Besides, they are a self-selection of larger, more productive and high-equity firms, with more skilled labour, higher capital intensity and stronger links to multinational groups. However, the export productivity premium is larger for service firms than for manufacturers. No evidence is found to indicate that exporting increases the growth rate of productivity. In contrast, the annual employment growth premium from exporting is substantial for business services, 2% per year, compared to 0.5% for the retail and wholesale business. Employment growth among manufacturing firms also benefits from expanded market opportunities in foreign markets.

  • 156.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Multinational Enterprises and Innovation: Firm level evidence on spillover via R&D collaboration2007Report (Other academic)
    Abstract [en]

    This paper estimates the knowledge spillovers to multinational firms (MNEs) in Sweden via domestic and foreign R&D collaboration. Applying an augmented GMM-estimator that accounts for both selectivity and simultaneity bias on data from 1,249 MNEs, our research has resulted in five distinct conclusions. First, we find that the knowledge spillovers via R&D collaboration typically take place as a network phenomenon rather than a process between the local firm and a single innovation partner. Second, successful collaboration is conditional on foreign innovation partners in the network. Third, output is found to be an increasing function of R&D-collaboration only among non-export oriented firms. Fourth, foreign MNEs selling mainly to local and regional markets in Sweden benefit more from R&D collaboration than other firms. Overall, the results show that demand driven motives that require entrepreneurial knowledge to adapt products to local consumers and markets are more important for successful R&D-collaboration than supply driven motives.

  • 157.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Technological Diffusion and Innovation : The Importance of Domestic and Foreign Sources2009In: Determinants of Innovative Behaviour: A Firm's Internal Practices and its External Environment / [ed] Cees van Beers, Alfred Kleinknecht, Roland Ortt & Robert Verburg, Palgrave Macmillan, 2009, p. 245-271Chapter in book (Refereed)
  • 158.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Technology Spillovers and Innovation: The Importance of Domestic and Foreign Sources2007Report (Other academic)
    Abstract [en]

    This paper asks whether there is evidence of higher innovation output from firms where there are more foreign activity in terms of foreign direct investments (FDI), trade, collaboration on innovation, or if geographic proximity between innovators is more important. The conclusions are that 1) there is robust evidence that FDI, observed as foreign-owned firms is neutral with respect to innovation output; 2) import correlates highly significantly with innovation product sales among multinational firms (MNEs) as well as non-MNEs; 3) the evidence for spillover from R&D collaboration with domestic innovation partners is weak when bilateral arrangements are considered. Only non-MNEs collaborating with local, regional or national suppliers and customers are benefiting from the collaboration; 4) when multilateral R&D arrangements are taken into account it is shown that R&D-collaborators have higher innovation inputs than non-collaborators. In particular, when the network includes a foreign subunit and a scientific partner, the likelihood of successful technology transfer increases considerably.

  • 159.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    The Dynamics of Firm Growth: A re-examination2008Report (Other academic)
    Abstract [en]

    This article provides evidence that shed further light on the dynamic relationships between finance,physical investment, R&D, productivity and profit. Estimating relationships for 5,289 observations onSwedish manufacturing firms with 50 or more employees over the 1992-2000 periods, the followingsubstantial empirical findings emerge. First, physical investments are sensitive to both internal financing(profit) and external financing (expressed as leverage, or the ratio of debt over equity and debt) whileR&D is only weakly affected by the firm’s finance conditions. Second, no robust correlation betweenknowledge investments and ordinary investments can be established. Third, R&D has a strong effect onproductivity and profit. The reverse relationship is fragile and typically insignificant. The causalitybetween physical capital and productivity is bidirectional, while increased profit leads to more capital butnot the vise versa.

  • 160.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Andersson, Martin
    A Portrait of the Innovative Firm as a Small Patenting Entrepreneur2008Report (Other academic)
    Abstract [en]

    This paper examines small innovative entrepreneurs by contrasting patenting firms against nonpatentingfirms. The empirical analysis is based on new and unique data on internal attributes,location and international trade characteristics for over 20 000 manufacturing firms in Swedenwith 1-25 employees. Our main findings are that firms’ access to financial means, humancapital and trade with R&D-intensive economies correlate highly significant with theirpropensity to be engaged in innovation activities, as evidenced by patent applications.Interestingly, when controlling for firm attributes we do not find any significant effect of thelocal milieu on innovativeness among micro and very small firms.

  • 161.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Andersson, Martin
    Agglomeration and Productivity – evidence from firm-level data2009Report (Other academic)
    Abstract [en]

    Do agglomerations stimulate productivity? An extensive literature on agglomeration economies, or urban increasing returns, has analyzed this question with aggregated spatial data. This paper estimates the relationship between agglomeration and productivity at the firm level using static and dynamic models. It makes use of a rich dataset comprising register information on all manufacturing firms in Sweden with 10 or more employees over the period 1997 - 2004. Three things emerge. First, firms located in larger regions are more productive when controlling for size, human capital, physical capital, ownership structure, import and export, industry classification and time trend. Second, results from dynamic panel estimations suggest a learning effect in that agglomeration enhances firms’ productivity. Third, the role of agglomeration phenomena does not seem to have a clear coupling to firm size.

  • 162.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Andersson, Martin
    Imports, Productivity and the Origin Markets: The role of knowledge-intensive economies2008Report (Other academic)
    Abstract [en]

    This paper investigates whether domestic firms’ productivity is an increasing function of imports fromthe most knowledge intensive economies in the world, i.e. the G7 countries. Using Swedish firm-leveldata, we confirm an instantaneous causality going from imports to productivity. We also show thatproductivity is increasing in the G7-fraction of total imports. Our results highlight the importance ofimport flows from R&D and knowledge intensive economies for productivity and are consistent withimports being a vehicle for technology diffusion. Tests of the sensitivity of the results suggest that G7imports are particularly important for firms in high-technology sectors and for firms belonging tomultinationals and domestic corporations.

  • 163.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Andersson, Martin
    Key Characteristics of the Small Innovative Firm2009Report (Other academic)
    Abstract [en]

    Despite broad agreement on the strategic role of SMEs (Small and Medium Sized Enterprises) in industrial renewal processes, the lack of systematized and comprehensive information on the nature and level of small innovative firms is striking. This bias is partly explained by an empirical shadow created by the limited availability of good, detailed data for comparable firm-level analyses. Based on extensive matched databases, the purpose of this paper is to provide new insights into the roles of micro and small innovative firms in research-based as well as tradition-based manufacture. The data consists of close to 160 000 observations of manufacturing firms in Sweden over the period 2000- 2006, including information on innovation activities captured by patent applications, firm characteristics, international trade and the regional milieu.

  • 164.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Andersson, Martin
    Learning-by-Exporting Revisited: the role of intensity and persistence2008Report (Other academic)
    Abstract [en]

    Two not mutually exclusive hypotheses can explain the empirically established exportpremium: self-selection of more productive firms into export markets and learning-byexporting.We reassess the learning-by-exporting hypothesis and maintain that the scope forlearning is related to the persistence and the intensity of a firm’s exporting activity. Using arich panel of Swedish manufacturing firms, we show that there is a causality going fromexports to productivity only for persistent exporters with high export-intensity. No suchrelationship is found for either temporary exporters or persistent exporters with low exportintensity.Learning-by-exporting in the form of a causality going from exports to productivityonly pertains to firms that persistently export a large fraction of their sales on a global scale.Results are robust to the inclusion of several firm characteristics such as imports, physicalcapital, firm size, skilled labour, capital structure, corporate ownership structure, and industryclassification.

  • 165.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101). KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Andersson, Martin
    Baltzopoulos, Apostolos
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    R&D strategies and Entrepreneurial Spawning2010Report (Other academic)
    Abstract [en]

    This paper analyzes how different R&D strategies of incumbent firms affect the quantity and quality of their entrepreneurial spawning. By examining entrepreneurial ventures of ex-employees of firms with different R&D strategies three things emerge: First, firms with persistent R&D investments with a general superiority in sales, exports, productivity, profitability and wages are less likely to generate entrepreneurs than firm with temporary or no R&D investments. Second, start-ups from knowledge intensive business service (KIBS) firms with persistent R&D investments have a significantly increased probability of survival. No corresponding association between the R&D strategies of incumbents and survival of entrepreneurial spawns is found for incumbents in manufacturing sectors. Third, spin-outs from KIBS-firms are more likely to survive if they start in the same firm, indicating the importance of inherited related knowledge. The findings suggest that R&D intensive firms spur fewer entrepreneurs, but their entrepreneurial spawns tend to be of higher quality.

  • 166.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Andersson, Martin
    Johansson, Sara
    TRADE FIRM PERFORMANCE AND INTERNATIONAL TRADE: evidence from a small open economy2007Report (Other academic)
    Abstract [en]

    This paper presents a comprehensive description and analysis of the international trading activities of firms based on novel detailed Swedish data. As a small open economy with a limited domestic market, Sweden constitutes an interesting contrast to existing evidence. We show that much of the stylized facts from large countries (specifically the US) about firms’ participation in international trade also pertain to a small open economy. We provide robust evidence of selection operating from market to market which is consistent with that low productive firms are confined to markets with low productivity thresholds. We further show that selection also applies to number of products traded. Both export and import productivity premiums increase in number of markets and number of products traded, respectively. There is a substantial heterogeneity among exporters and importers in terms of the number of markets they trade with and in terms of the number of products they trade.

  • 167.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Broström, Anders
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Does Knowledge Diffusion between University and Industry Increase Innovativeness?2004Report (Other academic)
    Abstract [en]

    This paper rigorously explores the impact of firm’s collaboration with universities on innovation. Specifically, using a representative dataset of manufacturing and service firms we have applied recent matching techniques to examine the hypotheses that whether academic knowledge has a positive impact on innovative sales and the propensity to apply for patents. Econometrically, the paper illustrates the differences that emerge from different matching estimators and samples. On balance, we find robust evidence that university collaboration positively influences innovative performance for large manufacturing firms. In contrast, whatever estimator is chosen, the data show no significant association between university collaboration and the average service firm’s innovation sales or propensity to apply for patents.

  • 168.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Cook, Gary
    Johansson, Börje
    Jönköping International Business School, Jönköping University.
    Pandit, N.R
    The Influence of Clustering on MNE location and Innovation in Great Britain2011In: Innovation and Multidimensional Entrepreneurship: Economic, Social and Academic Aspects / [ed] Iréne Bernard, ABM-media AS, 2011Chapter in book (Other academic)
    Abstract [en]

    This paper addresses two questions: what, if anything, is the influence of geographicconcentration of economic activity on patterns of foreign direct investment; what is therelationship, if any, between geographic concentration of economic activity, multinationality andinnovation. The paper identifies the consensus view which is emerging in the literature, based onboth theory and evidence, that strong clusters are likely to be attractive for inward directinvestment and that they promote innovation. The paper tests whether this relationship is evidentin Great Britain using data derived from the UK’s Annual Foreign Direct Investment survey andthe UK’s Community Innovation Survey 2007. It addresses a surprising gap in the emergingliterature by also examining the relationship between cluster strength and outward directinvestment, thereby testing Porter’s (1990) claim in The Competitive Advantage of Nations, thatadvantages gained in strong clusters would be the foundations of international competitiveness.The paper also distinguishes between two different types of agglomeration economy, localisationeconomies based on collocation of firms in related lines of activity, and urbanisation economiesbased on the overall concentration of economic activity in a particular region, a distinction mostof the emerging literature in International Business has not made clear. The first set of modelsexamine the propensity to engage in outward direct investment and the geographic pattern offoreign ownership of firms active in Great Britain and find that both are positively related tocluster strength, with localisation economies being more important than urbanisation economies.T wo models of innovation are estimated, the first examines what factors influence firms to beinnovative and the second what influences innovation effort as measured by R&D intensity. Inboth cases there is evidence that regional agglomeration promotes innovation and that there arestronger effects flowing from own industry agglomeration than from broader regional scale.

  • 169.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Dachs, Bernhard
    Ebersberger, Bernd
    The Innovative Preformance of Foreignowned Enterprises in Small Open Economis2007Report (Other academic)
    Abstract [en]

    This paper compares the innovative performance of foreign-owned and domestically owned enterprises in five European countries. We look at innovation inputs, outputs, and examine how strong foreign-owned enterprises are embedded in the innovations systems of their host countries. We find that foreign ownership causes no differences in innovation input, but yields a higher innovation output and higher labour productivity. In four of the five countries, affiliates of foreign multinationals show a similar or even a higher propensity to co-operate with domestic partners than domestically owned enterprises.

  • 170.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Ebersberger, Bernd
    Innovation Behaviour andProductivity Performance in the Nordic RegionDoes Foreign Ownership Matter?2005Report (Other academic)
    Abstract [en]

    This paper addresses the involvement of foreign companies in domestic economies; the relative engagement offoreign-owned companies in R&D-activities; the relative embeddedness in various national innovation systemsand the relative output performance from R&D and innovation. A comparison is made between the innovationand productivity of foreign owned enterprises, of different corporate styles, (Nordic, Anglo-Saxon andContinental European) and the different corporate structures of domestically owned firms (multinational anduninational). Using 5 186 firm level observations from Denmark, Finland, Norway and Sweden, and based onthe international harmonized Community Innovation Survey and uniform econometric approaches; the studyconfirms previous findings, presents new results and identifies country, corporate style and corporate governancedifferences. Some new lights is also shed on a seemingly paradoxical relationship between R&D and innovation,and between R&D and productivity.

  • 171.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Ebersberger, Bernd
    Multinational Enterprises, Spillovers, Innovation and Productivity2004Report (Other academic)
    Abstract [en]

    Recent debate has focused on the importance of corporate governance, localization of headquarters, foreign direct investments, externalities and key actors in national innovation systems and productivity. This study explores whether foreign-owned multinational firms differ systematically from domestic firms in terms of R&D-investments, transmission of technological knowledge and economic performance. The econometric analysis is based on a sample of 1 197 firm-level observations in Sweden, of which approximately a third from firms with foreign owners. The main finding is that domestic multinational firms are distinct from Nordic, Anglo-Saxon and European and other groups of corporate owners in terms of R&D investments and embeddedness in scientific, vertical and horizontal innovation systems. However, the advantage of higher R&D intensity and possible knowledge technological knowledge spillover does not manifest itself in superior innovation output or productivity performance. Our tentative explanation is that domestic multinationals are using the home country for developing technological capacity that is subsequently exploited in affiliates abroad. Correspondingly, the innovation and productivity performance in foreign multinationals are partly returns on activities created in their home countries. 

  • 172.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Heshmati, Almas
    Investment and Performance of Firms: Correlation or Causality?2006Report (Other academic)
    Abstract [en]

    The purpose of this paper is to provide empirical analysis of the two-way causalrelationship between some important investment and performance indicators at the firmlevel, in particular controlling for differences in these relationships between twocohorts of small and middle-sized firms and large firms respectively. Investigatedperformance variables include sales, value added, profit, cash flow, capital structureand employment. A multivariate vector autoregressive approach is applied to a panel ofSwedish firms observed between 1992 and 2000. In particular, an attempt is made toinvestigate whether causal relationships between R&D and firm performance are of atransitory nature and whether the causal relationships are similar for small andmedium-sized and large firms. Results show evidence of some two way causalrelationships, which are mainly transitory in character. Significant heterogeneity isobserved in the firms’ investment and performance behavior by their size.

  • 173.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Heshmati, Almas
    Investment and Performance of Firms: Correlation or causality?2008In: Corporate Ownership & Control, ISSN 1727-9232, E-ISSN 1810-3057, Vol. 6, no 2, p. 268-282Article in journal (Refereed)
    Abstract [en]

    This paper provides an empirical analysis of the two-way causal relationship between investment and performance indicators at the firm level. The performance variables include sales, value added, profit, cash flow, capital structure and employment. The investment variables are research and development and physical capital. A multivariate vector autoregressive approach is applied to a panel of Swedish firms observed between 1992 and 2000. Results show evidence of some two-way causal relationships, which are mainly transitory in character. Significant heterogeneity is observed in the firms’ investment and performance behavior by their size.

  • 174.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Heshmati, Almas
    Sources of Finance, R&D Investment and Productivity: Correlation or Causality?2004Report (Other academic)
    Abstract [en]

    In general there is an agreement about the positive impacts of R&D on performance of firms measured as productivity growth, profitability and growth. However, the opposite relationship is less obvious and very little attention has been paid on examining the feedback from performance on R&D investment. This study contributes to the empirical analysis of a twoway causal relationship between R&D investment and performance at the firm level. We examine the interaction between a number of financial indicators represented by investments in R&D and tangible capital and a number of performance variables including sales, value added, profit, cash flow, capital structure and employment. Empirical results are based on a large panel data set of Swedish manufacturing firms over the period 1992-2000. The results show evidence of weak feedback effects from performance on investment.

  • 175.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Heshmati, Almas
    Oh, Donghyun
    Technical Change and Total Factor Productivity Growth for Swedish Manufacturing and Service Industries2009Report (Other academic)
    Abstract [en]

    This paper presents alternative specifications of the production functions of a large panel of Swedish firms for the period 1992-2000. The period can be characterized as a transition when long-run productivity growth in the Swedish economy improved from being among the weakest to one of the strongest within the OECD. In order to present a detailed exploration of this dramatic change, the time trend and general index models are applied to estimate total factor productivity (TFP) growth, rate of technical change and returns to scale. The models are extended to allow for firm-specific as well as time-varying technical change. The parametric TFP measures are also compared with the non-parametric Solow residual, and several hypotheses are tested to explain the growth patterns in the Swedish economy. It is found that the improved growth rate, initially starting in large exporting manufacturing firms, after a deep economic crisis at the beginning of the 1990s, spilled over to the rest of the economy, both manufacturing and services.

  • 176.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Hesmati, Almas
    The Impact of Public Funding on Private R&D investment. New Evidence from a Firm Level Innovation Study  (Additionality or Crowding Out? On the effectiveness of R&D subsidies)2004Report (Other academic)
    Abstract [en]

    This paper investigates the effectiveness of a public innovation policy aimed at stimulating private R&D investment. The research will examine whether public funding increases the total spending on research or merely displaces funding from private sources. The empirical analysis is based on the Community Innovation Survey data merged with register data. It is an evaluation of whether firms receiving public funds have on average a higher R&D intensity compared to those not receiving any such support. In order to account for possible selectivity bias, and to improve comparability of firms, two different versions of a sem -parametric matching approach are employed. The two matching estimators result in somewhat different results. The Nearest Neighbour estimator is preferred to the Kernel estimator. The results support the hypothesis suggesting that there are additive effects of public R&D financing on private research expenditures only for small firms.

  • 177.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Janz, Norbert
    Peters, Bettina
    Firm Level Innovation and Productivity - Is there a Common Story Across Countries?2003Report (Other academic)
    Abstract [en]

    Recent studies have documented extensive heterogeneity in firm performance within countries, and innovation has been found as an important determinant. This paper addresses the issue of innovation firm performance across countries. A growing number of national firm level studies on the innovation-productivity link have been conducted using new internationally harmonized survey data, known in Europe as Community Innovation Survey (CIS). Mainly due to confidentiality reasons crosscountry comparisons of CIS data are still rare. The contribution of this paper is its unique approach of pooling original firm observations from Germany and Sweden. Applying a knowledge production function that gives the relationship between innovation input, innovation output and productivity, we find to a very large extent a common cross-country story for knowledge intensive manufacturing firms. Some interesting country-specific effects are reported as well.

  • 178.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Johansson, Börje
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Innovation, Metropolitan and Productivity2011Report (Other academic)
    Abstract [en]

    This paper assesses the contribution to productivity of firms’ internal innovation efforts and spatially-specific factors. A dynamic GMM-estimator is applied to a panel of close to 3,000 firms located in 81 Swedish regions and observed over a 10-year period. The magnitude of benefits from the knowledge milieu of an agglomeration is sizeable, but varies between firms depending on their particular R&D-strategy and location within a metropolitan region.

  • 179.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Johansson, Börje
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Ebersberger, Bernd
    Does Ownership Matter?The Impact of Foreign Takeovers on Innovation andProductivity Performance2006Report (Other academic)
    Abstract [en]

    Recent debate has focused on how foreign direct investments and foreign take-oversmay affect growth and welfare. In this study we have methodologically approximatedforeign-ownership by foreign take-over and raised the question: how would a firm’sbehaviour and performance have been if a foreign owner had not acquired the firm?The analysis is based on a sample of 5 186 firm-level observations in four Nordiccountries, of which approximately 30 percent of the firms have foreign owners. Usingan empirical approach that accounts for both selection bias and simultaneity bias, weestablish some new findings regarding foreign ownership. First, no robust differencein the propensity to be innovative can be established. Second, the group of innovativefirms, foreign-owned multinationals are generally outperformed by domesticmultinationals in R&D and innovation engagement. Finally, the results on laborproductivity are at variance with the findings in a large number of comparisonstudies. We find that foreign take-over of firms is neutral with respect to laborproductivity, and hence the issue of welfare gain and welfare drain is turned into anon-issue.

  • 180.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Martinsson, Gustav
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Impact of Economic Crises on Innovation Activity: Firm Level Evidence from Patent Data2009Report (Other academic)
    Abstract [en]

    Based on data from of 2,700 Swedish manufacturing firms, observed through the period 1997-2005, this paper shows that internal finance resources, measured by cash-flow, affect the propensity to apply for a patent as well as the number of patent applications. From a business cycle perspective, cash-flow only plays a role during and after economic contractions. In periods of economic expansion there is no significant association between internal finance and patent applications. Further, the sensitivity of patent applications to cash-flow is limited to firms with low equity-ratio. Among high equity firms the pattern of patent applications are robust over the business cycle.

  • 181.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Nabavi, Pardis
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Exporters, Spin-outs and Firm Performance2012Report (Other academic)
    Abstract [en]

    This paper analyzes the relationship between exporters, spin-outs and firm performance. A large body of research has shown that exporters perform better than non-exporters. But are also firms spawn out from exporters better than other new firms in terms of survival, productivity and growth? Using a panel of about 2,000 ex-employee starts ups, their parent companies and 10 000 other new firms in Sweden observed over a sequence of 5 years, we provide new evidence on spinouts as a channel of transferring knowledge from exporting firms to new ventures.

  • 182.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Oh, Dong-Huyn
    Creating Innovations, Productivity and Growth - the efficiency of Icelandic firms2009Report (Other academic)
    Abstract [en]

    Iceland is one of the smallest European economies and the country was hit severely by the 2008-financial crisis. This paper considers the economy in the period preceding the collapse. Applying a Data Envelopment Analysis on 204 randomly selected firms, the results suggest that a substantial fraction of the Icelandic firms can be classified as non-efficient in their production process. The production scale of many manufacturing firms is too small to be technically efficient, while service firms typically use excessive resources in their production process. A remarkably weak performance in transforming R&D and labour efforts into successful innovations is observed.

  • 183.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Oh, Donghyun
    Heshmati, Almas
    The Icelandic Economy: a victim of the financial crisis or simply inefficient?2009Report (Other academic)
    Abstract [en]

    Iceland, one of the smallest European economies, was hit severely by the 2008-financial crisis. This paper uses a firm-level Community Innovation Survey (CIS) data set to consider the economy in the period preceding the collapse of its financial system. We examine the linkage between the crisis and innovativeness from the perspective of technical efficiency by means of the Data Envelopment Analysis of 204 randomly selected firms. The results suggest that a substantial fraction of the Icelandic firms can be classified as non-efficient in their production process. The production scale of many manufacturing firms is too small to be considered technically efficient, while services firms typically use excessive resources in their production process. A remarkably weak performance in transforming R&D and labor efforts into successful innovations is observed. Based on the empirical results, suitable policy implications are suggested to remedy the inoptimal production structure and help economic recovery.

  • 184.
    Lööf, Hans
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Oh, Donghyun
    Heshmati, Almas
    Total Factor Productivity of Korean Manufacturing Industries: Comparison of Competing Models with Firm-Level Data2009Report (Other academic)
    Abstract [en]

    This paper presents the parametric estimation of the rates of technical change and total factor productivity (TFP) growth of 7,462 Korean manufacturing firms for the period 1987 to 2007. Two alternative formulations of technical change measured by the time trend and the general index approaches are estimated with panel data models assuming flexible functional forms. Several extensions of each approach are also considered and their benefits and limitations are discussed. In addition to making estimates of the TFP growth and its decomposition, the paper compares the parametric TFP growth measure with the non-parametric Solow residual serving as a benchmark. Several hypotheses related to technology level, firm sizes, industrial sectors, skill biased technological change and macroeconomic and industrial policies are tested to explain the growth patterns and heterogeneity in technical change, input biases and TFP growth rates. Using second regression analysis, the paper explores the determinants of TFP growth and their policy implications.

  • 185.
    Martinsson, Gustav
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Firm Collateral and the Cyclicality of Knowledge Intensity2008Report (Other academic)
    Abstract [en]

    The Schumpeterian view on Business cycles treats recessions as a cleansingmechanism and a state where firms can regroup and innovate. Firms need toaccess finance externally in order to compensate declining cash flow inrecessions. Due to financial frictions, the literature proposes that firms needto post collateral in order to mitigate problems of information asymmetries.In this paper I view knowledge within a firm as a prerequisite for it to beinnovative.Combining financial frictions and firm knowledge intensity the overallhypothesis of this paper is: Firms which have collateral can retain itsknowledge intensity when cash flow declines. This enables firms withcollateral to benefit from recessions like Schumpeter proposed.In this paper I explore the impact of firm collateral on the cyclicality ofknowledge intensity. This is conducted through using firm level data on14,500 Swedish manufacturing firms over the period 1997-2004. The mainresults are: (i) the knowledge intensity of a firm without collateral is procyclical.I.e. its share of highly educated employees is positively correlatedwith sales variation; (ii) on the other hand, the knowledge intensity of firmswith collateral is counter-cyclical.Through retaining their knowledge intensity even as sales drops firmswith collateral can benefit from recessions as Schumpeter proposed.

  • 186.
    Martinsson, Gustav
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    The Impact of Firm Collateral on Knowledge IntensiveConsulting Firms2008Report (Other academic)
    Abstract [en]

    This paper explores how sales and employment for knowledge intensive consulting firms arecorrelated. I apply theory on cash flow-investment sensitivities, mostly applied tomanufacturing firms, to a less capital intensive part of the economy. Therefore theknowledge intensive consulting sector is investigated but instead of analyzing the investmentin plant and machinery this analysis regards the investment in skilled employees. Theargument of Kaplan & Zingales (1997) regarding low cash flow-investment sensitivity beinga sign of financial distress is applied. The main result is that firms less likely to be financiallyconstrained display 60 percent higher sales-employment sensitivities than firms more likelyto be financially constrained. The results are estimated from a sample comprising 23,500Swedish knowledge intensive consulting firms.

  • 187.
    Martinsson, Gustav
    et al.
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Lööf, Hans
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Internal Finance and Patents: Evidence from firm-level data2009Report (Other academic)
    Abstract [en]

    We find that internal finance resources at the firm-level, measured by cash flow, play a non-trivial role for the number of patent applications, even after controlling for the standard variables of a patent study. The results are based on estimating panel count-data models on a sample of 2,700 Swedish manufacturing firms, with observations from the period 1997-2005. The cash-flow effect is larger during the aftermath of the bursting IT-bubble and for firms that are more likely to be financially constrained. Our results suggest that some firms reduce or stop applying for patents during periods of declining economic activity.

  • 188.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Business regulation and red tape in the entrepreneurial economy2010Report (Other academic)
    Abstract [en]

    This paper discusses the interrelationship between business regulations and entrepreneurial activities. Most empirical studies find that business regulations have a negative effect on the amount of entrepreneurial activities in an economy. In addition, we argue that the regulatory quality and amount of business regulation may also be influenced by the amount of entrepreneurial activities in the society since policymakers and bureaucrats tend to respond to changing conditions in the society. In the empirical part of the paper, data for 23 OECD countries for the period 1972-2002 in order to elaborate on the interrelationship between entrepreneurship and the quality of business regulations. The empirical findings indicate that there is a positive relationship between entrepreneurship, and the quality of business regulations.

     

  • 189.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Determinants of Regional Entry and Exit in Industrial Sectors2005Report (Other academic)
    Abstract [en]

    Recent empirical research by, for example, Audretsch and Fritsch (1999) and Armington andAcs, (2002) shows that regional determinants of new firm formation differs between industries. Ithas also been suggested that a large part of the regional variation of new firm formation can beexplained by differences in industrial structure. This paper reinvestigates the regionaldeterminants of entry and exit considering these findings. The empirical analysis is performedusing data on Swedish firm entry and exit rates for 1997-2001. It is shown that on average about0.5 to 2.7 percent of the regional variation in entry and exit rates remains to be explained, aftercontrolling for differences in industrial structure, but that there is substantial regional variation. Amajority of the firms in the 47 industries investigated are sensitive to unobserved regionalcharacteristics, such as regional policy when deciding to enter or exit a particular region.Agglomeration and the size structure in the particular industry and region are factors that arefound to influence entry and exit rates in almost all industries.

  • 190.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Entrepreneurship and innovation in second tier regions2013In: Papers in regional science (Print), ISSN 1056-8190, E-ISSN 1435-5957, Vol. 92, no 1, p. 239-241Article, book review (Other academic)
  • 191.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101). Ratio Institute, Sweden.
    Entry, market turbulence and industry employment growth2009In: Empirica, ISSN 0340-8744, E-ISSN 1573-6911, Vol. 36, no 3, p. 293-308Article in journal (Refereed)
    Abstract [en]

    This paper investigates the relationship between industrial dynamics in terms of firm entry, market turbulence and employment growth. Do entry of firms, the composition of industry dynamics (net entry) and market turbulence (entry and exit) influence industrial employment growth? This paper provides an empirical investigation, using unique data for 42 disaggregated Swedish industrial sectors during the period 1997-2001. It is hypothesised that the importance of entering firms, net entry and market turbulence may differ significantly across industries. A quantile regression method is used in order to detect industrial differences in the response to industrial employment growth. The empirical evidence shows that, on the one hand, firm entry and market turbulence have a positive effect on employment for fast growing industries and that the effect is larger for high growth industries. On the other hand, the composition of industry dynamics in terms of net entry rates has a more dispersed effect across all industries, even though the effect of net entry is larger for high growth industries.

  • 192.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Firm Maturity and Product and Process R&D in Swedish Manufacturing Firms2005Report (Other academic)
    Abstract [en]

    This paper investigates the commonly debated question about innovations and firm age.Are innovations made by incumbent firms, and does innovation therefore constitute abarrier to entry, or is innovation a way for new firms to successfully compete? The paperfurther investigates the relationship between firm size and innovation. Does innovationconstitute a way for small firms to compete or are innovation a large firm phenomenon? Inthe analysis the paper explicitly distinguishes between product and process innovation.Data from 1997 and 1999 on product and process R&D, firm size and age in the Swedishmanufacturing industry is used in the empirical analysis. A multinomial logit-model is usedto estimate the probability of performing process and product R&D. The results show thatthere are complementarities between product and process R&D and very few firms conductonly process R&D. The probability of product R&D and combined product and processR&D is higher for large firms and firms that are older than 80 years. The size and ageeffects are more pronounced for firms that carry out both process and product R&D.

  • 193.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    Firm Size, Firm Maturity and Product and Process R&D in Swedish Manufacturing Firms2009In: Entrepreneurship and innovations in functional regions: / [ed] Karlsson, C. Johansson B. and R.R. Stough,, Edward Elgar Publishing, 2009, p. 109-140Chapter in book (Refereed)
  • 194.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Interdependencies in the Dynamics of Firm Entry and Exit2005Report (Other academic)
    Abstract [en]

    This paper investigates the dynamics of firm entry and exit with a focus on differences betweenindustrial sectors. The paper discusses how entry and exit rates in industrial sectors are affectedby previous exit and entry rates. Economic theory presents two different approaches to how entryand exit of firms are interrelated to each other, the multiplier effect and the competition effect.This paper intends to investigate which force that is the predominant one. The empirical analysisis based on data for 25 Swedish manufacturing industries at the 2-digit SIC-level, for firms withmore than five employees during the period 1991-2000. A dynamic panel data approach assuggested by Anderson and Hsio (1981) and Arellano and Bond (1991) are used in estimating therelationships. The empirical results find some evidence of the multiplier effect being thepredominant effect explaining entry while competition effects are more important for explainingexit patterns.

  • 195.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    Is Entrepreneurship the Salvation for Enhanced Economic Growth?2009In: Entrepreneurship and it’s Economic Significance, Behavior and Effects, Nova Science Publishers Inc , 2009Chapter in book (Refereed)
  • 196.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Is Entrepreneurship the Salvation for Enhanced Economic Growth?: A review of the empirical evidence of the effect ofentrepreneurship on employment, productivity andeconomic growth.2008Report (Other academic)
    Abstract [en]

    During the last decades, enhancing entrepreneurship has emerged as commonly used policymeasurein order to improve economic growth. However, is it true that entrepreneurshipunambiguously can be claimed to improve economic growth? This paper intends to reviewthe empirical evidence on the relationship between entrepreneurship on three measures ofeconomic growth, employment, productivity and aggregate economic growth. The reviewshows that the studies that find no positive relationship between entrepreneurship andproductivity growth have studied a relatively short period. Most studies that have studied alonger period (about ten years) provide rather clear evidence on the positive relationshipbetween entrepreneurship and growth. Regarding the relationship between entrepreneurshipand employment growth, the empirical evidence to some extent point in different directions.However, it must be concluded that in the long run there seems to be a positive relationship.A majority of the studies on the relationship between entrepreneurship and aggregateeconomic growth find a positive relationship. Studies that find a negative relationship usuallyemploy non-harmonised self-employment rates as the measure of entrepreneurship.

  • 197.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Labor mobility and entrepreneurship: Who do new firms employ?2011Report (Other academic)
    Abstract [en]

    Entrepreneurship is often claimed to be important for generating employment. However, the empirical evidence on the relationship between entrepreneurship is not always convincing. Most of the studies that analyse the relationship between new firm formation and employment growth perform their analysis on cross-country or regional data. At the micro-level, we still know little about the labour dynamics and re-allocation effects induced by new firm formation. Which role do new firms play regarding labour reallocation? This paper intends to explore the individual and firm characteristics for employees in new Swedish firms. Do new firm start-ups absorb outsiders in the labour market or do they recruit employees from already incumbent firms? The paper use unique matched firm-employees dataset that makes it possible to link new firm formation and information about the individuals employed in these new firms. The empirical results indicate that the individual and firm characteristics associated with employees differ between new and incumbent firms. In particular, the share of immigrants, recently graduated employees and people entering the labor market is slightly higher in new firms. Hence, new firms might play a more important role for outsiders in the labor market.

  • 198.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
    Regional Institutional Environment and Swedish Regional New Firm Formation2008Report (Other academic)
    Abstract [en]

    This paper uses an institutional approach to investigate the relationship between the regionalinstitutional environment and regional new firm formation. The importance of perceivedattitudes regarding private enterprises, local taxes, political majority, the size of thegovernment sector and perceived rules and bureaucracy on new firm formation in 286Swedish municipalities are investigated. The empirical findings show that perceived positiveattitudes toward private enterprises and political governance by a right bloc majority tend tohave positive effects on regional new firm formation. A large local government sector, on theother hand, tends to have negative effects on regional new firm formation. The paper alsoexplore if the effect of different aspects of regional institutional environment on new firmformation are similar across industries. The pattern in the private service sector industries ismost similar to the overall pattern in the economy, while the only variable reflecting theregional institutional environment that influences new firm formation in manufacturingindustries is perceived rules and bureaucracy.

  • 199.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    The importance of industry structure in the analysis of regional entry and exit: The case of Sweden2009In: Regional and Sectoral Economic Studies, ISSN 1578-4460, Vol. 9, no 2, p. 5-20Article in journal (Refereed)
    Abstract [en]

    Previous empirical research has suggested that a large amount of the regional variation of new firm formation can be explained by differences in industrial structure. This paper studies the regional patterns of entry and exit in Sweden 1997-2001 considering these findings. It is shown that for the country as a whole, on average during these five years between 0.5 and 2.7 per cent of the regional variation in entry and exit rates remain to be explained when regional industrial entry and exit rates are compared to the national average. However, there are substantial regional variations, which should be acknowledged by policy-makers.

  • 200.
    Nyström, Kristina
    KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101).
    The Institutions of Economic Freedom and Entrepreneurship: Evidence from Panel Data2008In: Public Choice, ISSN 0048-5829, E-ISSN 1573-7101, Vol. 136, no 3-4, p. 269-282Article in journal (Refereed)
    Abstract [en]

    This paper provides new evidence on the determinants of entrepreneurship across countries. The paper investigates the relationship between the institutional setting, in terms of economic freedom, and entrepreneurship, measured by self-employment, in a panel data setting covering 23 OECD countries for the period 1972-2002. The measure of economic freedom includes five aspects: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and the regulation of credit, labour and business. The empirical findings show that a smaller government sector, better legal structure and security of property rights, as well as less regulation of credit, labour and business tend to increase entrepreneurship.

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