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  • 1. Acs, Zoltan J.
    et al.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Audretsch, David B.
    Carlsson, Bo
    The knowledge spillover theory of entrepreneurship2009In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 32, no 1, p. 15-30Article in journal (Refereed)
    Abstract [en]

    Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. Although the entrepreneurship literature treats opportunities as exogenous, the prevailing theory of economic growth suggests they are endogenous. This paper advances the microeconomic foundations of endogenous growth theory by developing a knowledge spillover theory of entrepreneurship. Knowledge created endogenously results in knowledge spillovers, which allow entrepreneurs to identify and exploit opportunities.

  • 2. Andersson, Martin
    et al.
    Johansson, Börje
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Månsson, Kristofer
    Dynamics of Entry and Exit of Product Varieties: – what evolution dynamics can account for the empirical regularities?2009Report (Other academic)
    Abstract [en]

    Firm-level heterogeneity is substantial even in narrowly defined industries. This paper focuses on formulating evolution dynamics which can account for the observed heterogeneity and its maintenance. Based on examination of data on Swedish firm’ supply pattern to different markets over time, we present a parsimonious model that has the ambition to capture the picture of heterogeneous firms, while accommodating the simultaneous exit and entry of destination varieties in firms’ supply pattern. The model assumes both scale economies of firms and pathdependence, where the latter is manifested in such a way that the arrival rate of innovation ideas to an individual firm is a function of each firm’s stock of varieties at every given point in time. The path-dependence phenomenon is an “explosive” non-linearity, whereas conservation mechanisms include development of demand and exit of established varieties. The described path dependence explains the skewed distribution of varieties across firms, but the question of what keeps the “equilibrium” away from competitive exclusion where only few large firms remain. We make use of simulations to depict and assess the innovation dynamics of the proposed model.

  • 3.
    Andersson, Martin
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301).
    Lööf, Hans
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Learning-by-Exporting Revisited: The Role of Intensity and Persistence*2009In: Scandinavian Journal of Economics, ISSN 0347-0520, E-ISSN 1467-9442, Vol. 111, no 4, p. 893-916Article in journal (Refereed)
    Abstract [en]

    Two non-mutually exclusive hypotheses can explain the empirically established export premium: self-selection of more productive firms into export markets and learning-by-exporting. This paper focuses on how the temporal dimension of firms' exporting activities and the intensity of exports influence the scope of learning effects. Using a panel of Swedish firms and dynamic generalized method of moments estimation, we find a learning effect among persistent exporters with high export intensity, but not among temporary exporters or persistent exporters with low export intensity. For small firms, exports boost productivity among persistent exporters with both high and low export intensity, but the effect is stronger for persistent export-intensive small firms.

  • 4.
    Asplund, Marcus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Friberg, Richard
    Wilander, Fredrik
    Demand and Distance: Evidence on Cross-Border Shopping2007In: Journal of Public Economics, ISSN 0047-2727, E-ISSN 1879-2316, Vol. 91, no 1-2, p. 141-157Article in journal (Refereed)
    Abstract [en]

    An important issue for commodity taxation is the extent to which changes in foreign taxes affect the extent of cross-border shopping and thereby, domestic tax revenue. We use data from Swedish municipalities to estimate how responsive alcohol sales are to foreign prices, and relate the sensitivity to the location's distance to the border. Typical results suggest that the elasticity with respect to the foreign price is around 0.3 in the border region; moving 150 (400) km inland reduces the cross-price elasticity to 0.2 (0.1). Our estimates suggest that a recent Danish cut in the spirits tax reduced Swedish tax revenues from spirits sales by more than 2%, and that an attempt by Sweden to cut taxes in response would reduce tax revenues further.

  • 5.
    Baltzopoulos, Apostolos
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Agglomeration Externalities and Opportunity: Based EntrepreneurshipManuscript (preprint) (Other academic)
  • 6.
    Baltzopoulos, Apostolos
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Spin-offs: Firm, Regional and Industry DeterminationsManuscript (preprint) (Other academic)
  • 7.
    Baltzopoulos, Apostolos
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Broström, Anders
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Attractors of Talent: Universities, Regions and Almni EntrepreneursManuscript (preprint) (Other academic)
  • 8.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Academic Entrepreneurship: Social norms, university culture and policies2007In: Science and Public Policy, ISSN 0302-3427, E-ISSN 1471-5430, Vol. 34, no 9, p. 619-631Article in journal (Refereed)
    Abstract [en]

    Is a shift in intellectual property rights to universities the key instrument in increasing commercialization of publicly funded research? How much can actually be learned from the US system, disregarding the ongoing debate as to whether the USA do actually outperform Europe in terms of commercializing university-based research? Taking Sweden as a role model, the article claims that this policy will not work, from the analysis of a unique database giving individual university researchers' views on participation in commercialization of public research, their commercialization experiences, and the obstacles researchers say exist to increase academic entrepreneurship. Despite researchers' positive attitudes towards engaging in commercial activities, the university culture, weak incentive structures and badly managed support facilities impede the creation of efficient links to markets. Measures must be taken at primarily the national level, but also at the university level, to enhance commercialization activities

  • 9.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Globalisering och regional utveckling: betydelsen av entreprenörskap och innovation2010In: Bergslagen i globaliseringens tidevarv / [ed] Almquist, K och Gröning, L, Axel och Margaret Ax:son Johnsons stiftelse , 2010Chapter in book (Other (popular science, discussion, etc.))
  • 10.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Sanning och konsekvens av Stiglitz metoden. Replik till Åberg2005In: Ekonomisk Debatt, ISSN 0345-2646Article in journal (Other (popular science, discussion, etc.))
  • 11.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Specialization of Regions and Universities: The New Versus the Old2008In: Industry and Innovation, ISSN 1366-2716, E-ISSN 1469-8390, Vol. 15, no 3, p. 253-275Article in journal (Refereed)
    Abstract [en]

    This paper analyzes whether there is a correspondence between a university's research specialization and industrial specialization in the region hosting the university, and to what extent universities influence regional productivity. Moreover, the analysis seeks to answer if a difference can be detected between the influences of old and new universities on regional performance. To achieve this end we utilize a unique data set on spatially disaggregated data for Sweden in the period 1975-99. A two-step Heckman regression analysis is implemented to examine whether universities' research specialization matches regional specialization in production as compared to the average region. The results suggest a correspondence in specialization, as well as positive productivity effects. However, there are also considerable differences across regions, albeit primarily unrelated to the age of the universities.

  • 12.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    The Genesis and Evolution of the Stockholm Music Cluster2009In: NEW DIRECTIONS IN REGIONAL ECONOMIC DEVELOPMENT / [ed] Andersson AE; Cheshire PC; Stough RR, 2009, p. 385-408Conference paper (Refereed)
  • 13.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Acs, Zoltan J.
    Audretsch, David B.
    Carlsson, Bo
    The missing link: knowledge diffusion and entrepreneurship in endogenous growth2010In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 34, no 2, p. 105-125Article in journal (Refereed)
    Abstract [en]

    The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. However, endogenous growth theory does not explain how or why spillovers occur. This paper presents a model that shows how growth depends on knowledge accumulation and its diffusion through both incumbents and entrepreneurial activities. We claim that entrepreneurs are one missing link in converting knowledge into economically relevant knowledge. Implementing different regression techniques for the Organisation for Economic Co-operation and Development (OECD) countries during 1981 to 2002 provides surprisingly robust evidence that primarily entrepreneurs contributed to growth and that the importance of entrepreneurs increased in the 1990s. A Granger test confirms that causality goes in the direction from entrepreneurs to growth. The results indicate that policies facilitating entrepreneurship are an important tool to enhance knowledge diffusion and promote economic growth.

  • 14.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Bergström, Christian
    Bonnedahl, Karl
    Ericsson, Jenni
    Lagergren, Fredrik
    Hoel, Mikael
    Greaker, Mads
    Entreprenörskap och innovation för hållbar utveckling2009Book (Other academic)
  • 15.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Ekonomi i omvandling2008Report (Other academic)
  • 16.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Finanskrisens effekter på svensk industri2008Report (Other academic)
  • 17.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Globaliseringen och den svenska industrin: Effekter och framtidsutsikter2006Report (Other academic)
  • 18.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    I finanskrisens kölvatten – risker och utmaningar2010Report (Other academic)
  • 19.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Industriavtalet 2007 – utsikter för 2008 och 20092008Report (Other academic)
  • 20.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Inför 2010 års avtalsrörelse2009Report (Other (popular science, discussion, etc.))
  • 21.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Krisstämpeln på det svenska avtalssystemet – en överdrift2008In: Ekonomisk debatt, ISSN 0345-2646Article in journal (Other (popular science, discussion, etc.))
  • 22.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Djerf, Olle
    Frisén, Håkan
    Ohlsson, Henry
    Utvecklingskraft och omställningsförmåga2009Report (Other (popular science, discussion, etc.))
  • 23.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Henrekson, Magnus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Awarding Entrepreneurship Research: A Presentation of the Global Award2009In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 33, no 3, p. 809-814Article in journal (Refereed)
    Abstract [en]

    On January 29, 2009, professor Scott A. Shane, Case Western Reserve University (Cleveland, Ohio), became the first recipient of the Global Award for Entrepreneurship Research, an upgrade of the previous award given annually since 1996, and since then firmly established as the leading prize for outstanding research contributions in the area. The objective of this essay is to present the background to and the organizations behind the award; to describe how candidates are nominated, evaluated, and selected; and to give a clear account of the criteria that guide the Prize Committee in their selection of award winners.

  • 24.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Henrekson, Magnus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    The Global Award for Entrepreneurship Research. En presentation2009In: Ekonomisk debatt, ISSN 0345-2646Article in journal (Other (popular science, discussion, etc.))
  • 25.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Jakobsson, Ulf
    Andresson, Thomas
    Den svenska miraklet i repris?: om den tredje industriella revolutionen, globaliseringen och tillväxten2006Book (Other academic)
  • 26.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Parida, V.
    Johansson, J.
    Ylinenpää, H.
    Barriers to Information and communication Technology Adoption in Small Firms: Report to the Ministry of Enterprise, Energy and Communication2010Report (Other academic)
  • 27.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Parker, Simon C.
    Josh Lerner: recipient of the 2010 Global Award for Entrepreneurship Research2010In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 35, no 3, p. 245-254Article in journal (Refereed)
    Abstract [en]

    This article describes the academic contributions of the 2010 recipient of the Global Award for Entrepreneurship Research, Professor Josh Lerner of the Harvard Business School. Lerner's empirical research on the inter-relationship between venture capital, innovation and entrepreneurship has greatly extended and improved our understanding of one of the major drivers of growth in modern economies. The first part of this article explains Lerner's contributions as regards the structure and organization of the venture capital industry. Later, his most important publications on entrepreneurship, innovation and intellectual property rights are surveyed. Several aspects of Lerner's policy-oriented work are then outlined, before the article closes with a brief conclusion.

  • 28.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Svensson, Roger
    The inventor's role: was Schumpeter right?2010In: Journal of evolutionary economics, ISSN 0936-9937, E-ISSN 1432-1386, Vol. 20, no 3, p. 413-444Article in journal (Refereed)
    Abstract [en]

    According to Schumpeter, the creative process of economic development can be divided into the stages of invention, innovation (commercialization) and imitation. Each stage is associated with specific skills. This paper examines whether Schumpeter's assertion was correct, i.e. whether the invention and innovation stages should be undertaken by different agents. In addition, we examine whether there is a rationale for the Schumpeterian entrepreneur to include the inventor in the commercialization process. Combining the abilities of the entrepreneur and the inventor may serve to facilitate customer adaptation, strengthen knowledge transfers and reduce uncertainty, thereby expanding market opportunities. Based on a unique database covering Swedish patents granted to individuals and small firms, the empirical analysis shows that profitability increases by 22 percentage points when inventions are commercialized by the entrepreneur instead of by inventors. However, active involvement of the inventor is shown to have a significantly positive impact on profitability, irrespective of commercialization mode.

  • 29.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Thulin, Per
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Nyföretagande i kristid. Tre kriser, tre dynamiker2010In: Ekonomisk debatt, ISSN 0345-2646Article in journal (Other (popular science, discussion, etc.))
  • 30.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Thulin, Per
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    The trade-off between agglomeration forces and relative costs: EU versus the ‘World’. Evidence from firm-level location data 1974-19982005Report (Other academic)
    Abstract [en]

    The theoretical prediction of a trade-off between production costs and agglomeration economies advanced in recent “new economic” geography models has – despite its important policy implications – not been exposed to empirical testing. Based on a standard model where labor mobility is assumed to differ between two regions - the “European Union” (EU) and the “world” - the empirical analysis shows that a ten percent increase in relative wages decreases entry by MNCs by approximately nine percent in EU, but only by three percent in the “world.” Or, put differently, a ten percent increase in relative wages in EU requires an increase by 26 percent in agglomeration to keep production levels unaltered. To our knowledge, this is the first attempt to empirically estimate this trade-off.

  • 31.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    von Greiff, Camilo
    Svaleryd, Helena
    Hur ska Sverige möta globaliseringen?2009In: Ekonomisk debatt, ISSN 0345-2646Article in journal (Other (popular science, discussion, etc.))
  • 32.
    Braunerhjelm, Pontus
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    von Greiff, Camilo
    Svaleryd, Helena
    Utvecklingskraft och omställningsförmåga: Rapport från Globaliseringsrådets kansli2009Report (Other academic)
  • 33.
    Broström, Anders
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Working with Distant Researchers: – distance and content in university-industry interaction2009Report (Other academic)
    Abstract [en]

    This paper studies the role of geographic proximity for interaction on R&D, by exploring the special case of university-industry contacts. While numerous studies find that geographic proximity facilitates spillover effects between university and industry by utilising evidence from e.g. patenting and publishing activities, the geographical dimension is largely understudied in studies that report evidence from direct interaction. To explore when geographical proximity matters for university-industry interaction, a series of interviews with R&D managers in Swedish engineering firms is conducted. These interviews suggest that linkages in geographical proximity are more likely to generate impulses to innovation and create significant learning effects at the firm. Similarly, geographic proximate interaction is more likely to successfully contribute to R&D projects with short time to market. For long-term R&D projects, geographic proximity is generally seen as a less critical factor. A survey to 425 R&D managers in Swedish engineering firms provides evidence that supports these hypotheses.

  • 34.
    Broström, Anders
    KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Working with distant researchers: distance and content in university-industry interaction2010In: Research Policy, ISSN 0048-7333, E-ISSN 1873-7625, Vol. 39, no 10, p. 1311-1320Article in journal (Refereed)
    Abstract [en]

    This paper studies the role of geographic proximity for interaction on R&D by exploring the special case of formalised university-industry interaction in the engineering sector While numerous studies find that geographic proximity facilitates spillover effects between university and industry by utilising evidence from e g patenting and publishing activities the geographical dimension is largely understudied in studies that report evidence from direct interaction A series of interviews with R&D managers suggests that linkages in geographical proximity are more likely than distant linkages to generate impulses to innovation and create significant learning effects at the firm Similarly geographic proximate interaction is more likely to successfully contribute to R&D projects with short time to market For long-term R&D projects geographic proximity is generally seen as a less critical factor A survey to 425 R&D managers in Swedish engineering firms provides evidence that supports these hypotheses.

  • 35.
    Broström, Anders
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    McKelvey, Maureen
    How do Organisational and Cognitive Distances Shape Firms’ Interactions with Universities and Public Research Institutes?2009Report (Other academic)
    Abstract [en]

    This paper examines how the institutional set-up of public research organisations (PROs) affects how firms are able to utilise direct interaction with publicly employed researchers. We argue that the role that PRO interaction has to play in the firm’s innovation processes depend on the organisational and cognitive distances between the firm and the PRO. In particular, this paper empirically explores how Swedish engineering firms assess the value of R&D partnerships with universities and research institutes. Our theoretical discussion of organizational distance suggests that managers should perceive institute contacts to be more strongly associated with short-term R&D projects than university contacts. This hypothesis cannot be verified. Following from our discussion of cognitive distance, we find that firms with advanced R&D capabilities obtain differential benefits. Their interaction with universities provides impulses for innovation and offers opportunities to learn to a greater extent than contacts with public research institutes. However, firms with less advanced R&D capabilities perceive no significant differences between university and institute interaction. Thus, both organizational and cognitive distance affect firms’ interactions with PROs, and our results have implications for the current push in Europe to reform universities and institutes.

  • 36.
    Brown, James R.
    et al.
    Iowa State University.
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Petersen, Bruce C.
    Washington University in St. Louis.
    Law, the Nature of Financial Intermediation and InvestmentArticle in journal (Other academic)
    Abstract [en]

    We study how law and the nature of financial market development impact firm-level investment spending. We argue that legal rules that protect shareholders and therefore increase the availability of external equity finance can have important real effects through a “financing R&D channel”. R&D investment is dependent on the supply of external equity because debt contracts are often unsuitable for financing intangible investment. Usingexogenous variation in access to external equity arising from differences in legal rules across countries, we find a very strong link between external equity finance and investment in R&D at the firm-level. We estimate that firms dependent on external finance at the margin increase long-run R&D investment by $0.50 to $0.60 for each dollar increase in long-run access to external equity. In contrast, access to external equity has little impact on long-run physical investment levels. These findings show that R&D investment is especially sensitive to the particular form of financial intermediation, likely because firms can more readily use debt to contract around weak investor protections when it comes to financing fixed investment. Given the importance of R&D investment for innovation and productivity growth, our study highlights a direct causal channel that can connect legal rules and financial development with firm activities key to economic growth.

  • 37. Carlsson, Bo
    et al.
    Acs, Zoltan J.
    Audretsch, David B.
    Braunerhjelm, Pontus
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Knowledge creation, entrepreneurship, and economic growth: a historical review2009In: Industrial and Corporate Change, ISSN 0960-6491, E-ISSN 1464-3650, Vol. 18, no 6, p. 1193-1229Article in journal (Refereed)
    Abstract [en]

    This article explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United States over the last 150 years. Distinguishing between general knowledge and economically useful knowledge, we examine the changes over time in the locus and content of new knowledge creation: the role of universities, particularly engineering schools and land-grant universities, industrial laboratories, and corporate research and development (R&D) laboratories prior to World War II. The practical orientation of US academic R&D and the close research interaction between academia and industry are noted. We study the unprecedented increase in R&D spending in the United States during and after World War II and how it was converted into economic activity via incumbent firms in the early postwar period and increasingly via new ventures in the last few decades.

  • 38.
    Daghbashyan, Zara
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Do University Units Differ in the Efficiency of Resource Utilization?: – a case study of the Royal Institute of Technology (KTH), Sweden2009Report (Other academic)
    Abstract [en]

    Many efficiency studies have been conducted to look at the relative performance of universities. Judgments were made on the overall performance of universities compared to the best performing ones in the sample. Meanwhile the possibility of efficiency variation within the same university was not taken into account. The focus of this paper is on the measurement of technical efficiency within the units of the same university. It is interesting to see if the average efficiency score of university can reflect the performance of various units operating within the same technical university. The analysis is conducted for the Royal Institute of Technology of Sweden (KTH), using the data from the Research Assessment Exercise conducted by KTH in 2008. *It provides a unique opportunity of quantifying different teaching and research outputs while controlling for quality. Technical efficiency scores are estimated using non-parametric production frontier methodologies. Different model specifications are tested.

  • 39.
    Fölster, Stefan
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Nystrom, Johan
    Climate Policy to Defeat the Green Paradox2010In: Ambio, ISSN 0044-7447, E-ISSN 1654-7209, Vol. 39, no 3, p. 223-235Article in journal (Refereed)
    Abstract [en]

    Carbon dioxide emissions have accelerated since the signing of the Kyoto Protocol. This discouraging development may partly be blamed on accelerating world growth and on lags in policy instruments. However, it also raises serious question concerning whether policies to reduce CO2 emissions are as effective as generally assumed. In recent years, a considerable number of studies have identified various feedback mechanisms of climate policies that often erode, and occasionally reinforce, their effectiveness. These studies generally focus on a few feedback mechanisms at a time, without capturing the entire effect. Partial accounting of policy feedbacks is common in many climate scenarios. The IPCC, for example, only accounts for direct leakage and rebound effects. This article attempts to map the aggregate effects of different types of climate policy feedback mechanisms in a cohesive framework. Controlling feedback effects is essential if the policy measures are to make any difference on a global level. A general conclusion is that aggregate policy feedback mechanisms tend to make current climate policies much less effective than is generally assumed. In fact, various policy measures involve a definite risk of 'backfiring' and actually increasing CO2 emissions. This risk is particularly pronounced once effects of climate policies on the pace of innovation in climate technology are considered. To stand any chance of controlling carbon emissions, it is imperative that feedback mechanisms are integrated into emission scenarios, targets for emission reduction and implementation of climate policy. In many cases, this will reduce the scope for subsidies to renewable energy sources, but increase the scope for other measures such as schemes to return carbon dioxide to the ground and to mitigate emissions of greenhouse gases from wetlands and oceans. A framework that incorporates policy feedback effects necessitates rethinking the design of the national and regional emission targets. This leads us to a new way of formulating emission targets that include feedback effects, the global impact target. Once the full climate policy feedback mechanisms are accounted for, there are probably only three main routes in climate policy that stand a chance of mitigating global warming: (a) returning carbon to the ground, (b) technological leaps in zero-emission energy technology that make it profitable to leave much carbon in the ground even in Annex II countries and (c) international agreements that make it more profitable to leave carbon in the ground or in forests.

  • 40.
    Johansson, Börje
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Karlsson, Charlie
    KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Stough, Roger
    Entrepreneurship and Development - local processes and global patterns2009Report (Other academic)
    Abstract [en]

    The general motivation for this paper is the current interest in globalization as a phenomenon that strongly affects the conditions of local economic development. Our purpose is to contribute to some of the current development aspects, in particular those that foster the evolution of entrepreneurs in local-global processes. We present four eras of globalization, in recent decades and which have been described as different aspects of globalization are not new at all. In conclusion, we stress that those global patterns of change that are observed, and reported in the media and by social scientists are the result of innumerable local processes driven by economic, political and social entrepreneurs in localities, regions, and nations all around the globe.

  • 41.
    Johansson, Börje
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Lööf, Hans
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Innovation, R&D and Productivity - assessing alternative specifications of CDM-models2009Report (Other academic)
    Abstract [en]

    This paper applies a CDM-model framework to depict the successive links (correlations) between (i) innovation expenditure, (ii) innovation output, and (iii) firm productivity. The CDM model has become popular in many countries among scholars using data from the Community Innovation Survey (CIS). First, the study contrasts a general structural OECD version of the model against a model with country-specific design. Second, the study examines the gains from separating the labour force into ordinary and knowledge labour – as a means to avoid double counting of R&D investments. Third, the paper examines the difference between recognising a firm as a member of an unspecified company group versus a multinational group. Fourth, the paper explores how well sales per employee serves as a proxy for labour productivity proper. Fifth, the paper scrutinises the quality of CIS information by comparing key variables from the voluntary CIS survey with the same variables (for the same firms) recorded in the compulsory and audited register data in Sweden.

  • 42.
    Johansson, Börje
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Lööf, Hans
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    The Global-Local Interplay of MNE and Non-MNE Firms2009Report (Other academic)
    Abstract [en]

    During a sequence of decades we can observe a co-evolution of globalization through network formation of multinational (MNE) firms and concentration in specific places due to agglomerative forces. First, innovation ideas arrive at a faster speed to firms with past experience of innovation activities and with established export market contacts. Second, innovativeness is strongly dependent on corporate and ownership structure. Third, the returns to innovation efforts are positively influenced by firms’ capability to exploit extended markets. All these phenomena can be theoretically explained by MNE’s capacity to coordinate global supply chains and orchestrate localized R&D activities and knowledge flows. The paper illuminates how attributes of MNEs and non-MNEs differ, and how these differences affect the productivity and export intensity. It also shows how agglomeration economies affect MNEs and non-MNEs.

  • 43. Karlsson, Charlie
    et al.
    Johansson, Börje
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Stough, Roger R.
    Human Capital, Talent, Agglomeration and Regional Growth2009Report (Other academic)
    Abstract [en]

    This paper is an introductory overview highlighting some of the current knowledge as regards three critical questions related to the emerging knowledge economy: i) Why does human capital and talent tend to agglomerate in large urban regions?, ii) How does this agglomeration affect the location of different types of economic activities?, and iii) How does this agglomeration affect regional growth? There are different underlying agglomerative forces creating spatially concentrated increasing returns to scale. Also, cities become centres of various amenities due to general increases in real incomes offering people spare time activities. One major reason for the agglomeration of production in urban regions and metro-politan areas today is the existence of various positive externalities, providing good settings for industries and firms with knowledge-intensive and knowledge-creation activities, specialised business service firms and headquarters of multinational firms. There are strong tentative empirical evidences that the agglomeration of human capital contributes to regional development and growth. However, there is uncertainty concerning the size of the human capital externalities.

  • 44.
    Lööf, Hans
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Multinational enterprises and innovation: firm level evidence on spillover via R&D collaboration2009In: Journal of evolutionary economics, ISSN 0936-9937, E-ISSN 1432-1386, Vol. 19, no 1, p. 41-71Article in journal (Refereed)
    Abstract [en]

    This paper estimates the knowledge spillovers to multinational enterprises (MNEs) in Sweden via domestic and foreign R&D collaboration. Applying an augmented generalized method of moments-estimator that accounts for 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 the presence of 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 do 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.

  • 45.
    Lööf, Hans
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Andersson, Martin
    KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.
    Imports, Productivity and Origin Markets: The Role of Knowledge-intensive Economies2010In: The World Economy, ISSN 0378-5920, E-ISSN 1467-9701, Vol. 33, no 3, p. 458-481Article in journal (Refereed)
    Abstract [en]

    We investigate the impact of international knowledge transfers on productivity at the firm level. The flow of knowledge across borders is measured through imports from different markets. Using a dynamic panel GMM estimation on Swedish manufacturing firms with 10 or more employees over the period 1997-2004, three important results emerge. First, there is an instantaneous positive effect of imports on productivity. Second, the evidence points towards a distinct role of imports from the G7 countries, which accounts for 80 per cent of global R&D. Third, sensitivity analyses show that G7 imports are also important for small and non-affiliated firms.

  • 46.
    Lööf, Hans
    et al.
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Innovationer, riskkapital och tillväxt2010In: En innovationsstrategi för Sverige: Swedish Economic Forum Report 2010 / [ed] Pontus Braunerhjelm, Stockholm: Entreprenörskapsforum , 2010, p. 99-118Chapter in book (Other academic)
  • 47.
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Are there Financial Constraints For Firms Investing in Skilled Employees?2009Report (Other academic)
    Abstract [en]

    This paper explores how financial constraints affect intangible investment for knowledge intensive and less capital intensive firms. In this paper, a knowledge intensive firm implies a firm supplying knowledge intensive services which requires the firm to hire highly educated employees. In economics investment is defined as the act of incurring an immediate cost in the expectation of future reward, which also fits to the hiring of skilled employees. Drawing advantage of unique firm-level data comprising all Swedish knowledge intensive consulting firms I conclude that the accessibility to adequate collateral significantly affects the relationship between employment and internal funds at the firm level. The accessibility ofadequate collateral is more important in an economic downturn than in an expansion and more important for highly knowledge intensive consulting firms. In this paper I make a novel attempt to incorporate knowledge intensive services firms into the financial constraints literature.

  • 48.
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301).
    Does Finance Matter for Corporate Innovation?2010Doctoral thesis, comprehensive summary (Other academic)
  • 49.
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Economics (closed 20110301). KTH, School of Architecture and the Built Environment (ABE), Centres, Centre of Excellence for Science and Innovation Studies, CESIS (closed 20110701).
    Equity Financing and Innovation: Is Europe Different from the United States?2009Report (Other academic)
    Abstract [en]

    During the mid and late 1990s young, high-tech firms in the U.S. experienced a supply shift in both internal and external equity fueling a finance driven boom in corporate R&D. I estimate dynamic R&D regression models for high-tech firms, separately for the U.K. and Continental Europe, and find significant cash flow effects for newly listed firms in both samples, but only the new, high-tech firms in the U.K. experienced a supply shift in external equity as well. The findings of this paper suggest a channel through which market based financial systems outperform the bank based economies of Continental Europe.

  • 50.
    Martinsson, Gustav
    KTH, School of Architecture and the Built Environment (ABE), Transport and Economics, Economics.
    Equity financing and innovation: Is Europe different from the United States?2010In: Journal of Banking & Finance, ISSN 0378-4266, E-ISSN 1872-6372, Vol. 34, no 6, p. 1215-1224Article in journal (Refereed)
    Abstract [en]

    During the mid and late 1990s young, high-tech firms in the U.S. experienced a supply shift in both internal and external equity fueling a finance-driven boom in corporate R&D. This paper examines whether R&D spending in Europe in a similar way was sensitive to fluctuations in the supply of internal and external equity during the late 1990s and early 2000s. I conjecture that U.K. and Continental Europe, due to their different financial systems, differ in terms of equity supply. I estimate dynamic R&D regression models for U.K. and Continental European high-tech firms separately and find significant joint cash-flow effects for newly listed firms in both samples. However, only new firms in the U.K. experienced a joint external equity effect as well. The findings of this paper suggest a channel through which market-based financial systems outperform the bank-based economies of Continental Europe.

12 1 - 50 of 55
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