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The purpose of this paper is to analyse the role that different financial sources and financial specialization have on private research and development (R&D) activity in OECD countries.

The authors developed several panel regressions choosing as a final model a two-way random effects regression to understand which funding sources are related to the R&D expenditure, and how financial specialization has links to the private portion of R&D aggregated expenditure. The authors include data from the years 2000 to 2016 for OECD countries.

The results reinforce the critical role that stock markets have in enhancing private R&D and that bond markets have an inverse relationship with private R&D national expenditures. The authors do not find evidence of a link between bank sources and private R&D. Specialized financial systems (banking or market) support innovation in a better way than a mixed arrangement of those two systems.

The findings of this study have considerable policy implications. Policymakers need to be aware of these results, given that some variables related to financial markets, seems to boost the inputs for R&D. In the long term, this could be a signal that national and regional systems of innovation need a broad view of the factors hampering scientific activity, and also a signal that there are other ways to impact the results of the complex innovation activity through the development of stronger financial systems backing up national systems of innovation.

The authors found that the long discussion about the financial system that a country has to choose to enhance growth with R&D&I may have been misleading the public policy. The findings show that rather than a bank or a stock market financial system, economies looking to boost R&D&I, must specialize in one of the two systems, deepen these and generate the appropriate policies to promote science, technology and innovation using those financial markets.

The level of R&D spending of a country tends to increase the national patent rate and, in consequence, can collaborate with its economic development. However, there are a few empirical studies investigating this phenomenon by comparing countries from all over the globe. The purpose of this paper is to disassemble the sources of R&D spending and identify the role of national patent applications as a mediator in the relationship between R&D spending and national development.

Panel data on patent applications in 35 countries of all continents (except Africa) over 15 years (from 1999 to 2013) regarding four levels of national R&D intensity (i.e. by enterprises, governments, higher education institutions and private non-profit organisations), gross domestic product (GDP) per capita, gross national income (GNI) and human development index (HDI) were collected from the OCDE. Then, two-stage panel regressions were conducted to test the hypotheses.

The empirical findings indicated that R&D spending from firms and higher education institutions (public and private) help to directly improve national patent applications, thus contributing to the national development (measured by GDP per capita, GNI per capita and HDI).

The importance of this study was to show that the investments in R&D made by universities and firms are more effective in leading to patent applications, which contributes to promoting national development. With these findings, governments can focus their efforts on stimulating these types of investments if they want to foster the growth of national patent rates.

The purpose of this paper is to analyze the organizational structure and R&D management alignment in an internationalized public company.

The authors performed a descriptive qualitative research using the single case method of EMBRAPA.

The results indicated that EMBRAPA organizational structure provides a structural framework for R&D management, promoting knowledge and infrastructure sharing. The internationalization, especially through LABEX, allows researchers to interact with research centers of excellence abroad. This makes strategic planning (Sistema de Inteligência Estratégico da EMBRAPA – Agropensa, portfolios and project arrangements) results in R&D projects, through macro programs, generating innovations for Brazilian agriculture.

It should be noted that this study presents some limitations, among them, the fact that only one company is being analyzed.

Therefore, EMBRAPA’s organizational structure provides a structural framework for R&D management, promoting knowledge sharing and infrastructure. This makes the strategic planning (Agropensa, portfolios and arrangements) to result in R&D projects, via macro programs, generating innovations for the Brazilian agriculture. On the contributions to the advancement of knowledge with regard to the professional management of public research institutes, it is worth synthesizing, therefore, the following practical evidence in the field and that they were key to the successful management of R&D activities in EMBRAPA.

The choice of this company is due to its importance for the Brazilian agricultural development, to the innovations generated for the modernization of agriculture and due to it being a public, internationalized R&D company, and with a trajectory of four decades of existence.

This article examines the effects of credit to private sector on the business and trade activities. The effectiveness of rapid expansion in public and private borrowing through state's intervention after COVID-19 pandemic has been assessed in this study.

The model to determine the role of credit expansion is based on four equations estimated through panel least square technique on 18 years data of 186 countries.

It is concluded that credit to private sector and external debt improve the investment in infrastructure, which is a significant determinant of gross domestic product growth. Empirical evidences corroborate that higher number of firms using banks to finance their investment and the volume of broad money determine the magnitude of credit to private sector.

This study explores some new evidences and aspects of the credit financing which have not been discussed in this way before.

The attention to the university–business collaboration (UBC) for its role in the knowledge-based economy is growing in many countries. In this context, the purpose of this paper is to conduct two surveys to explore the causes of low collaboration between the private sector and academia in the Kingdom of Saudi Arabia.

The first survey covers nearly 50 companies to learn their perspectives. Using the findings of the first survey, a second survey was conducted of university researchers to understand the determinants of private and public funding of research and development projects. The survey provided two types of data, namely, categorical and continuous, which were subjected to reliability and normality tests. A linear regression analysis also was utilized to explore the role of different factors on the funded projects by the two sectors.

There is a perception among researchers that the private sector is woefully underestimating research capacity of Saudi universities. One interesting finding is that publishing in journals from the International Scientific Indexing (ISI) is a strong predictor for government funding, but not for private funding. From the private sector perspective, publishing in ISI-indexed journals is not sufficient evidence of research capability. Moreover, high teaching load is a major obstacle in acquiring private funding, but not so for public funding.

The paper provides two main recommendations to improve collaboration. First, universities should incentivize publishing in high-impact journals more than in ISI-indexed journals to increase the faculty’s research capabilities. Second, universities should reduce the teaching load of faculty involved in research projects, particularly those funded by the private sector.

The outcomes of this survey-based study are very valuable to the ecosystem of academia, business and government in general and for Saudi Arabia in particular, where there is a vital need to implement the right policies regarding UBC in the country.

Going beyond the traditional approach of formal and informal institutions as antecedents of entrepreneurship (directly) and development (indirectly), this paper seeks to explore knowledge institutions as a necessary input for entrepreneurship and the development of societies.

Institutional economics lenses are utilized to observe other factors (e.g. the number of R&D staff and researchers from the public sector) that involve laws and socialization processes, which at the same time create knowledge useful for entrepreneurs and society. These ideas are tested through a sample of 281 observations from 17 autonomous communities and two autonomous cities in Spain. The information coming from the Global Entrepreneurship Monitor (GEM), Ministry of Economics, Industry, and Competitiveness, and INE (Instituto Nacional de Estadística), was analyzed through 3SLS, which is useful for a simultaneous equation strategy.

Knowledge institutions such as the number of R&D staff and researchers from the public sector are found positively associated with entrepreneurship, which is a factor directly and positively linked to economic development across Spanish regions.

The findings help the operationalization of other institutions considered in institutional economics theory and its application to entrepreneurship research. Moreover, the results bring new insights into the knowledge spillover theory of entrepreneurship in the public sector, in which the institutional analysis is implicit.

The study examines the impacts of debt financing on infrastructure development, investment, creation of new business entities, subsidies to private sector and GDP growth.

The methodology is based on five simultaneous equations which have been estimated through panel least square.

The most important conclusion of this study is the significant role of sovereign bonds in determination of subsidies to private sector. The role of domestic credit is important in South Asian context because of its significant role in creation of new businesses.

This study supports the enhancement in credit financing to private sector for creation of new business activities in the economy.

The improvement in liquidity position by enhancing domestic credit facilities may ensure the sustainability and continuity of business activities. Such activities may improve GDP growth in future.

The most important aspect of the study is to identify the role of debt financing in subsidies and creation of new businesses which are important elements of social economics.

Usually the impacts of sovereign bonds and external debts on infrastructure development and GDP growth are examined. But, to relate these debts to creation of business entities and subsidies is a new dimension.

Municipalities have the potential to become models of the circular economy (CE). This paper aims to examine the impact of the municipal council’s characteristics on municipal CE disclosure and promotion.

This paper is based on the resource dependence and upper echelons theories. For a sample of the 100 largest cities in Canada, a mixed methodology is used to code and analyze data and test the hypotheses.

Municipal councillors’ education and experience related to the environment or sustainability are both likely to affect CE disclosure, and their sector membership (public or private) moderates the relationship between CE disclosure and councillors’ experience. This experience may be reinforced by membership in the private sector, which has applied CE principles more extensively than the public sector has. Municipal councils with a greater number of councillors from the private sector appear to perform better in matters of transparency and to disclose more CE information on their public websites.

Municipalities could use the findings to foster their transition to CE by implementing a CE-related training plan for their councillors. A CE-dedicated section on their websites could improve transparency and inform and educate residents about CE.

The public sector could learn from the private sector’s best practices regarding CE.

This paper contributes to the literature by providing empirical evidence of the transparency and engagement of municipalities toward CE. The authors extend the resource dependence and upper echelons theories to a new context, that of public organizations.

The purpose of this paper is to investigate the academic side of university–firm linkages, reporting the results of research (called the “BR Survey”, a primary database) conducted in Brazil with leaders of research groups that interacted with firms. The authors analysed the answers from 662 research groups (from both universities and research institutes) to investigate whether the intensity of private funds affects the results of the interactions. The main intent is to answer the following question: Is there a difference between funding sources and the type of results achieved by research groups when interacting with firms?

To verify the impact of some variables on the perception of the main results of university–firm interactions, highlighting the impact of funding sources, the authors present a Logit Model defined with binary dependent variables. The null value is categorized as a “scientific result” (new scientific discoveries and research projects; publications, theses and dissertations; human resources’ and students’ education) and the value 1 is classified as an “innovative/technological result” (new products, artefacts and processes; improvement of industrial products and processes; patents, software, design and spin-off firms).

The authors found that the modes of interaction (relationship types) and some knowledge transfer channels, besides the number of interactions with firms, have statistically significant coefficients, so their values present different impacts on the results of the interaction. The results suggest that the Brazilian innovation policy towards a more active and entrepreneurial role of universities is fostering innovative/technological results from university–firm interactions.

The originality of the study lies on the results found that given the fact that private funding sources do not affect the conventional mission of Brazilian universities – teaching and research – university research groups should be even more incentivized to search for private funds to carry out their research. This may be a solution to the public fund scarcity and may help in reducing the historical distance between universities and firms in Brazil.

This paper aims to focus on time-constrained interactions involving industry and public actors, mainly universities, conducting research. This kind of interaction has become increasingly important to develop new pharmaceuticals, especially antibiotics. The proposed theoretical frame relies on industrial marketing and purchasing’s interactive perspective on inter-organizational relationships and especially the activities, resource, actors model, combined with key concepts on temporary organizing and project management. This study identifies the temporality and time constraints imposed by this project on public–private interactions, specific coordination tools used to create such temporality and time constraints and their consequences, including positive and negative effects for the interacting parties.

The study builds on a single in-depth qualitative case study of a major antibiotics R&D collaboration project called ENABLE.

For negative consequences, this model includes the need for constantly rebuilding trust due to fast turnover of actors, difficulties in combining resources as efficiently as possible, resource constraints, bottlenecks and neglect of some activities, such as publishing, which are normally pivotal for universities. Despite these problematic consequences of temporality, resources are rapidly made available and new competencies learned quickly. Another positive effect is the possibility to achieve complex adaptations of resources and activities even in short time frames. Importantly, projects can act as a springboard for the parties to continue collaboration and in the long term develop a continuous business relationship.

Based on the findings the authors develop a model of time-constrained inter-organizational interaction between public and private organizations.