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Article
Publication date: 7 August 2017

John Holland

Problems arose in the “market for information” (MFI) during the “dot.com” boom, the Enron case, Northern Rock failure and during the great financial crisis (GFC) of…

Abstract

Purpose

Problems arose in the “market for information” (MFI) during the “dot.com” boom, the Enron case, Northern Rock failure and during the great financial crisis (GFC) of 2007-2009. This paper aims to extend the understanding of the MFI through field research and theoretical sources. It also aims to understand the MFI during relatively stable periods and during periods of rapid change, crisis and failure. It seeks to use these insights to propose changes to reduce the possibilities for negative change and problems in the MFI.

Design/methodology/approach

Field studies are used to develop an “empirical narrative” for ongoing MFI structures, processes and outcomes during relatively stable periods. The paper develops a “theoretical narrative” to extend the understanding of the MFI empirical insights.

Findings

The paper reveals that the MFI structure that includes knowledge and social context is central to ongoing MFI economic processes for MFI agents. Outcomes include changes in markets, firms and others. Changes and problems are means to understand interactions between the MFI social structure, knowledge, actions and outcomes as they rendered visible the previously invisible issues.

Originality/value

The paper shows that a coherent combination of new empirical narrative and theoretical narrative is essential to develop a critical stance, new policy prescriptions and new regulations to deal with problems and changes in the MFI. This provides the frame to propose changes in the “world of knowledge” and in (concentrated and elite) social and economic structures in the MFI. It proposes: making explicit shared knowledge in the MFI, monitoring change processes and promoting active formal learning.

Details

Qualitative Research in Financial Markets, vol. 9 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

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Article
Publication date: 14 September 2010

Kirsten Martinus

The purpose of this paper is to provide conceptual foundations for a study exploring the capacity of hard infrastructure and amenities to influence the socio‐economic

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Abstract

Purpose

The purpose of this paper is to provide conceptual foundations for a study exploring the capacity of hard infrastructure and amenities to influence the socio‐economic imprint of urban spaces. The paper argues that some urban developments are more economically efficient in generating innovation and knowledge than others.

Design/methodology/approach

The paper reviews the debate between urban density and infrastructure. Drawing on empirical evidence and economic production theory, it explores the spatial links between economic growth, innovation and knowledge productivity. It argues that the growing role of human capital in the production process has linked productivity to a city's mix and levels of infrastructure and amenities. It reviews five key infrastructure types for knowledge‐based developments.

Findings

This paper finds that the positive contribution of density to urban vibrancy and human connectivity is constrained by a city's infrastructure and amenity levels. It concludes that urban development cognisant of an appropriate mix and level of infrastructure and amenities will more likely enhance regional knowledge development and innovation than those which are not.

Social implications

The evidence presented in this paper has a broad range of strategic and practical socio‐economic implications, and contributes towards understanding how urban form can leverage social aspects of a city for economic growth.

Originality/value

Using an inter‐disciplinarian approach, this paper provides invaluable insights into the types of infrastructure and importance of urban form for knowledge‐based development. It contends that well‐planned knowledge‐based developments can be leveraged to ensure the successful implementation and delivery of national innovation and productivity priorities.

Details

Journal of Knowledge Management, vol. 14 no. 5
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 30 November 2021

Weiwei Wu, Zhou Liang and Qi Zhang

Nowadays, faced with increasingly dynamic and fierce competition, knowledge is considered to be the core to survive and maintain competitive advantages in both managerial…

Abstract

Purpose

Nowadays, faced with increasingly dynamic and fierce competition, knowledge is considered to be the core to survive and maintain competitive advantages in both managerial practices and academia. Against this background, this study analyzed the influence of technological capabilities (TC) and technology management (TM) on corporate economic performance in the contexts of corporate internal governance mechanisms and external institutional environment from the institutional perspective.

Design/methodology/approach

This study collected data on Chinese publicly listed manufacturing firms in Shenzhen and Shanghai stock markets from 2008 to 2017 and the final data included 3,679 firm-year observations. Ordinary least square regression was used in both regression analysis and robustness tests.

Findings

The empirical results showed that the interaction between TC and TM was positively related to corporate economic performance and both corporate incentives and monitoring mechanisms strengthened this positive relationship; the positive moderating effects of corporate governance were stronger under a more developed corporate external institutional environment.

Originality/value

This research provides a better understanding of the economic effect of TC and TM from the perspective of knowledge integration by indicating that the interaction between TC and TM can enhance corporate economic performance and delimiting the boundaries of this relationship from the institutional perspective.

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Book part
Publication date: 11 August 2005

David B. Audretsch, Max Keilbach and Erik Lehmann

The prevailing theories of entrepreneurship have typically revolved around the ability of individuals to recognize opportunities and act on them by starting new ventures…

Abstract

The prevailing theories of entrepreneurship have typically revolved around the ability of individuals to recognize opportunities and act on them by starting new ventures. This has generated a literature asking why entrepreneurial behavior varies across individuals with different characteristics, while implicitly holding the external context in which the individual finds oneself to be constant. Thus, where the opportunities come from, or the source of entrepreneurial opportunities, are also implicitly taken as given. By contrast, we provide a theory identifying at least one source of entrepreneurial opportunity – new knowledge and ideas that are not fully commercialized by the organization actually investing in the creation of that knowledge. The knowledge spillover theory of entrepreneurship holds individual characteristics as given, but lets the context vary. In particular, high knowledge contexts are found to generate more entrepreneurial opportunities, where the entrepreneur serves as a conduit for knowledge spillovers. By contrast, impoverished knowledge contexts are found to generate fewer entrepreneurial opportunities. By serving as a conduit for knowledge spillovers, entrepreneurship is the missing link between investments in new knowledge and economic growth. Thus, the knowledge spillover theory of entrepreneurship provides not just an explanation of why entrepreneurship has become more prevalent as the factor of knowledge has emerged as a crucial source for comparative advantage, but also why entrepreneurship plays a vital role in generating economic growth. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spillover of knowledge, and ultimately generating economic growth.

Details

University Entrepreneurship and Technology Transfer
Type: Book
ISBN: 978-1-84950-359-4

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Book part
Publication date: 31 October 2005

David B. Audretsch

Why should entrepreneurship matter for economic growth, employment creation and international competitiveness? The entrepreneurship literature has traditionally suggested…

Abstract

Why should entrepreneurship matter for economic growth, employment creation and international competitiveness? The entrepreneurship literature has traditionally suggested that entrepreneurship matters to individuals and firms, but rarely for economic growth.

Details

The Emergence of Entrepreneurial Economics
Type: Book
ISBN: 978-1-84950-366-2

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Book part
Publication date: 19 January 2005

Zoltan J. Acs

Abstract

Details

Urban Dynamics and Growth: Advances in Urban Economics
Type: Book
ISBN: 978-0-44451-481-3

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Book part
Publication date: 10 August 2010

Peter J. Boettke, Emily C. Shaeffer and Nicholas A. Snow

F. A. Hayek's contribution to economic science is broadly remembered as relating to the “use of knowledge in society” but his contribution to economics of knowledge are…

Abstract

F. A. Hayek's contribution to economic science is broadly remembered as relating to the “use of knowledge in society” but his contribution to economics of knowledge are often summarized differently. We emphasize the contextual nature of the knowledge. Hayek says the market economy is capable of eliciting and utilizing in the process of coordinating economic activities. There is, however, a double meaning of context that we explore. Hayek developed his argument about the use of knowledge in the context of the socialist calculation debate, and the aspect of knowledge he came to focus on was the contextual nature of knowledge in human action in markets, politics, law, and society. This paper traces out the development of Hayek's focus on the epistemic foundations of the complex coordination in an advanced market economy and shows that his critique of classical and market socialism led to a refined, subtle approach to understanding spontaneous order. Furthermore, it is precisely Hayek's focus on the role of institutions in creating the conditions for the utilization and transference of knowledge through the price system that continues to shape the progressive research programs in economic science and public policy analysis that is his legacy.

Details

What is so Austrian about Austrian Economics?
Type: Book
ISBN: 978-0-85724-261-7

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Article
Publication date: 20 January 2012

Amzad Hossain

The purpose of this paper is to examine and compare the indicators of k‐economy to assess whether their status of development helps to improve such indicators in the…

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1216

Abstract

Purpose

The purpose of this paper is to examine and compare the indicators of k‐economy to assess whether their status of development helps to improve such indicators in the SAARC. Furthermore, the study also aims to create linkage among the indicators of k‐economy, economic integration process in the SAARC, and the knowledge conversion model.

Design/methodology/approach

The paper adopts comparative analyses of the indicators of k‐economy. Indicators are considered under three tracks such as: socio‐economic, economic and ICT infrastructure. Socio‐economic indicators – poverty index, literacy rate, public expenditure on education, R&D expenditure, enrolment of tertiary education, number of researchers in R&D, participation in international agency. Economic indicators – per‐capita real GDP, real GDP growth rate, share of GDP by sector, structure of trade, inflation and unemployment rate. ICT infrastructure indicators – telephone main lines per 100 people, cellular users per 100 people, broadband per 100 people, and internet users per 100 people. The data are obtained from publications, existing reports and web sites of international organizations.

Findings

The indicators of k‐economy demonstrate deprived developmental status with increasing trends in the SAARC member countries. As a result, SAARC demonstrates poor growth in terms of knowledge development as compared to other economic integrations in Asia such as APT. There is a considerable variation in most of the indicators among the member states as measured by CV (coefficient of variation) although they lay in low‐income county status. The people of the SAARC countries like to adopt with the ICT easily if the opportunity is provided. The study revealed that the countries in the SAARC should carefully follow the knowledge creation, conversion, implementation and reverse follow‐up process to meet specific indicator based needs of the specific sector of particular members considering their social and financial affordability in the local context.

Research limitations/implications

The study does not use the same year's data for all the indicators applied in this paper due to lack of data availability.

Practical implications

The findings of this paper will be useful to formulate effective policies to improve the indicators of k‐economy in the SAARC. This will be influential for the SAARC to be a competitive integration.

Originality/value

This study provides comparative empirical evidence of variation in the indicators of k‐economy among the SAARC member countries contribute to improve such indicators. The paper also creates linkage among the indicators of k‐economy, economic integration process in the SAARC, and the knowledge conversion model.

Details

Competitiveness Review: An International Business Journal, vol. 22 no. 1
Type: Research Article
ISSN: 1059-5422

Keywords

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Book part
Publication date: 19 August 2003

David B. Audretsch and A.Roy Thurik

The purpose of this paper is to provide a link between entrepreneurial activity on the one hand, and industry evolution and economic growth on the other. The role that…

Abstract

The purpose of this paper is to provide a link between entrepreneurial activity on the one hand, and industry evolution and economic growth on the other. The role that entrepreneurship plays in innovative activity is explained. The link between entrepreneurship and industry evolution through the spillover of knowledge in generating entrepreneurial activity is analyzed. This implies that the relationship between entrepreneurship and growth is identified. In particular, this paper finds that entrepreneurship generates a positive pulse in the evolution of industries in such a way that fosters economic growth.

Details

Austrian Economics and Entrepreneurial Studies
Type: Book
ISBN: 978-1-84950-226-9

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Book part
Publication date: 14 August 2014

Chijioke J. Evoh, Christopher Byalusago Mugimu and Hopestone K. Chavula

This chapter evaluates the readiness of the higher education system to contribute to the competitiveness of African countries in the knowledge economy. Using institutions…

Abstract

This chapter evaluates the readiness of the higher education system to contribute to the competitiveness of African countries in the knowledge economy. Using institutions of higher learning in Kenya and Uganda as case studies, the study demonstrates that the higher education system in Africa is ill-equipped to fulfill the role of knowledge production for the advancement of African economies. The chapter proposed promising ways through which higher education in the region can play a more fulfilling role to the global knowledge economy through the formation of relevant skills for the growth of African economies. In an era where knowledge assets are accorded more importance than capital and labor assets, and where the economy relies on knowledge as the key engine of economic growth, this chapter argues that higher education institutions in Africa can assist in tackling the continent’s challenges through research in knowledge creation, dissemination, and utilization for improved productivity. These institutions need to engage in design-driven innovation in the emerging knowledge economy. To enhance their contributions toward human capital development and knowledge-intensive economies in the region, it is imperative to employ public-private initiatives to bridge and address various challenges and gaps facing universities and research institutions in Africa.

Details

The Development of Higher Education in Africa: Prospects and Challenges
Type: Book
ISBN: 978-1-78190-699-6

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