Unwarranted squeaks and rattles in delivered products may be perceived by the customer as an indication of poor quality. Moreover, they may be indicative of component or…
Unwarranted squeaks and rattles in delivered products may be perceived by the customer as an indication of poor quality. Moreover, they may be indicative of component or assembly faults leading to reduced life or unreliable operation.
The task of this paper is to examine the changes taking place in the skill‐employment mix of 13 industry sub‐groups within the British engineering industry and to propose a suitable projection technique for manpower forecasting.
Purpose – The main research question of this contribution is whether local market concentration influences R&D and innovation activities of foreign affiliates of…
Purpose – The main research question of this contribution is whether local market concentration influences R&D and innovation activities of foreign affiliates of transnational companies.
Methodology/approach – We focus on transition economies and use discriminant function analysis to investigate differences in the innovation activity of foreign affiliates operating in concentrated markets, compared to firms operating in nonconcentrated markets. The database consists of the results of a questionnaire administered to a representative sample of foreign affiliates in a selection of five transition economies.
Findings – We find that foreign affiliates in more concentrated markets, when compared to foreign affiliates in less concentrated markets, export more to their own foreign investor's network, do more basic and applied research, use more of the existing technology already incorporated in the products of their own foreign investor's network, do less process innovation, and acquire less knowledge from abroad.
Research limitations/implications – The results may be specific to transition economies only.
Practical implications – The main implications of these results are that host country market concentration stimulates intranetwork knowledge diffusion (with a risk of transfer pricing), while more intense competition stimulates knowledge creation (at least as far as process innovation is concerned) and knowledge absorption from outside the affiliates' own network. Policy makers should focus their support policies on companies in more competitive sectors, as they are more likely to transfer new technologies.
Originality/value – It contributes to the literature on the relationship between market concentration and innovation, based on a unique survey database of foreign affiliates of transnational corporations operating in Eastern Europe.
A key element in the development of a technology, a company or an industry is the availability of finance. While much effort has been directed at understanding the roles…
A key element in the development of a technology, a company or an industry is the availability of finance. While much effort has been directed at understanding the roles of venture capital, angel investment and public investment, there does not appear to be much analysis of the industry-level effects as a new industry is emerging. In this chapter, we investigate the patterns of public and private investments and the role of government in support of financing the emergence of science and technology industries. We also examine the criteria used by venture capitalists in their assessment of investment opportunities regarding new technology-based ventures. We focus on the analysis of investment at stage between prototyping and commercialisation of a new technology. This stage has been labelled as the ‘valley of death’ from an investor perspective, which reflects greater risks for investors due to the high level of both technology and market uncertainty.
The purpose of this paper is to investigate how entrepreneurs demand for external finance changed as the economy continued to be mired in its third and fourth years of the…
The purpose of this paper is to investigate how entrepreneurs demand for external finance changed as the economy continued to be mired in its third and fourth years of the global financial crisis (GFC) and whether or not external finance has become more difficult to access as the recession progressed.
Using a large-scale survey data on over 30,000 UK small- and medium-sized enterprises between July 2011 and March 2013, the authors estimate a series of conditional probit models to empirically test the determinants of the supply of, and demand for external finance.
Older firms and those with a higher risk rating, and a record of financial delinquency, were more likely to have a demand for external finance. The opposite was true for women-led businesses and firms with positive profits. In general finance was more readily available to older firms post-GFC, but banks were very unwilling to advance money to firms with a high-risk rating or a record of any financial delinquency. It is estimated that a maximum of 42,000 smaller firms were denied credit, which was significantly lower than the peak of 119,000 during the financial crisis.
This paper provides timely evidence that adds to the general understanding of what really happens in the market for small business financing three to five years into an economic downturn and in the early post-GFC period, from both a demand and supply perspective. This will enable the authors to consider what the potential impacts of credit rationing on the small business sector are and also identify areas where government action might be appropriate.
Under this heading arc published regularly abstracts of all Reports and Memoranda of the Aeronautical Research Council, Reports and Technical Memoranda of the United States National Advisory Committee for Aeronautics and publications of other similar Research Bodies as issued
The aim of this chapter is to understand effects of the recent crisis on the financial constraints that small and medium size enterprises have experienced in emerging…
The aim of this chapter is to understand effects of the recent crisis on the financial constraints that small and medium size enterprises have experienced in emerging economies. Using the firm level survey data provided by the World Bank, a descriptive analysis is conducted by calculating the average of the financial obstacles that the firms had experienced before and after the crisis, and the existence of statistical difference between the two periods is tested. The results indicate that the small and medium size enterprises suffer more from financial constraints relative to large firms. Financial constraints that the small and medium size firms had experienced are largely affected by the recent global financial crisis, relative to the large firms. However, effects of the financial constraints on real variables such as investment, innovation, and research and development expenditures cannot be examined due to data limitations. This chapter contributes to the limited literature of financial constraints experienced by the small and medium enterprises in emerging economies by taking the effect of the recent global financial crisis into account. The novelty of this chapter comes from the dataset: “The World Bank’s World Business Environment Surveys,” which provides a large sample of emerging countries.
One of the tenets of the conventional wisdom of the strategic management literature is that if a business succeeds in increasing its market‐share it will usually enjoy an improvement in its profitability. It is not simply that it serves as one of a battery of measures of relative performance, nor that, ceteris paribus, increases in the volume of sales must be linked to increases in the total amount of profits earned, but that increases in market share will directly cause increases in profitability, that is profits deflated to take into account the level of output. As might be expected, the strength of feeling that is displayed about the virtues of market‐share as a strategic tool varies enormously among opinion leaders. Those from the influential Boston Consulting Group (1970) are almost messianic in their exhortations to businesses to aim single mindedly for increased market‐share in order to move down their experience curves. Others, most notably from the Strategic Planning Institute, through its Profit Impact of Market Strategies Programme (PIMS), e.g. Schloeffer, et al., (1974), Buzzell, et al., (1975) and Gale (1972), imply the importance of market‐share by the emphasis they place upon its influence in their reporting of the results of regressing return‐on‐investment in a model which contains over thirty other variables.
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.