This paper studies the cost effectiveness of climate policy if there are technology externalities. For this purpose, we develop a forward-looking CGE model that captures empirical links between CO2 emissions associated with energy use, directed technical change and the economy. We find the cost-effective climate policy to include a combination of R&D subsidies and CO2 emission constraints, although R&D subsidies raise the shadow value of the CO2 constraint (i.e. CO2 price) because of a strong rebound effect from stimulating innovation. Furthermore, we find that CO2 constraints differentiated toward CO2-intensive sectors are more cost effective than constraints that generate uniform CO2 prices among sectors. Differentiated CO2 prices, through technical change and concomitant technology externalities, encourage growth in the non-CO2 intensive sectors and discourage growth in CO2-intensive sectors. Thus, it is cost effective to let the latter bear relatively more of the abatement burden. This result is robust to whether emission constraints, R&D subsidies or combinations of both are used to reduce CO2 emissions. / Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/).

The thesis is submitted under the alternative format, comprising three papers. The key theoretical contribution of the thesis can be found in each of these papers. First, the thesis explores the relationship between national and sectoral systems of innovation, and emphasises the need for governmental policies at each level to be both coordinated and complementary. Second, it offers an examination of the emerging role of universities in innovation systems, which far exceeds the traditional perspective of universities as ‘knowledge suppliers’ and the more recent notion of the ‘entrepreneurial university’. Finally, it offers insight into the strategies of foreign MNEs under the context of industry clusters. The thesis discusses the development of the Brazilian petroleum innovation system following one of the largest oil and gas discoveries in the Americas for decades. The pre-salt oil reserves were discovered in 2007 and are estimated to amount to at least the 60 billion barrels of oil in the North Sea. They are located off the south-eastern coast of Brazil in ultra-deep water (i.e. depths greater than 1500m) and are named as such because they reside under a thick layer of salt (up to two kilometres in depth). The location of the reserves adds great complexity to the challenge of their extraction. It also offers opportunities for competitive advantage to those actors within the innovation system who successfully innovate in addressing this challenge. The study draws upon an empirical investigation that included forty-two in-depth interviews, conducted in 2014 and 2015, and is supplemented by documentary analysis. These interviews were largely held with governmental agencies, public universities and petroleum-focussed enterprises (both domestic SMEs and global MNEs). Each group of actors are discussed in a different empirical paper: the efforts of governmental regulatory agencies in creating innovation in Brazil’s national petroleum industry; the evolving role of public universities in pursuit of technology transfer and academic entrepreneurship; and the R&D strategies of several global oil and gas MNEs that have taken residence in the recently-established industry cluster in Rio de Janeiro. The thesis also offers much to practitioners: guidance for the enactors of innovation policy following a large natural resource discovery; a model for universities wishing to develop a portfolio of entrepreneurial support, which has been shown to greatly support a university’s own technology transfer objectives; and direction for foreign MNEs in how to adapt to changes in industry clusters. The need for and challenge of achieving cooperation between diverse actors in an innovation system are apparent throughout the thesis. This cooperation is even more important in emerging economies such of Brazil, which often suffer from a lack of coordination between actors.

We investigate the impact of intellectual property on the market value of firms. We use European and national research and development, patent, trademark, design, and financial data on Swedish public companies in the years 2003 to 2013. We regressed intellectual property indicators against Tobin’s q, which we use to measure the market value of firms. Patents, research and development, and trademarks indicate a positive relationship with a firm’s market value, while we did not observe the same relationship for designs. The use of intellectual property is concentrated in manufacturing industries. Large companies hold a majority of all intellectual property stocks. The results of the study show that in general, the financial markets tend to reward companies, which invest in intellectual property. In practice, our results implicate that intellectual property strategy affects shareholder value. Regarding research, our results mostly confirm findings from other studies on the market value of firms; research and development, patents and trademarks. However, more research is needed on the effect of design and the market value of firms.

A inovação, tanto tecnológica como organizacional, deixou de ser um modismo para ocupar um lugar de destaque dentro das organizações. Com a abertura dos mercados e a sofisticação do padrão de exigências de consumidores, tanto no mercado interno, como no exterior, a diferenciação passou a ser palavra de ordem e a inovação uma necessidade. Dentro da inovação tecnológica, as atividades de pesquisa e desenvolvimento são consideradas essenciais e tem merecido, cada vez mais, a atenção de pesquisadores. Considerada tradicionalmente uma área eminentemente técnica, com foco em concepção de soluções tecnológica e comercialmente viáveis, tem assumido novas atribuições, o que implicou na alteração do seu perfil, passando a interagir com as demais áreas organizacionais. Desta forma, o universo simbólico do grupo de técnicos da área foi ampliado e incluiu no seu repertório novos valores e imagens da organização, influenciando o processo decisório. O presente trabalho de pesquisa, para a tese de doutorado em administração, foi construído com o objetivo de analisar o processo por meio do qual esta dimensão subjetiva se manifesta na área de P&D, no tocante à forma de realizar as atividades desta unidade organizacional, ou seja, internamente ou através de contratos com agentes externos. Considerando as especificidades do referido estudo, optou-se pela abordagem qualitativa, estudo de caso múltiplo, coleta de evidências através de entrevistas não estruturadas e o método de análise de narrativas, em quatro empresas de base tecnológica, localizadas na região metropolitana de Porto Alegre. Apesar das possíveis fragilidades inerentes ao referido método, de natureza interpretativista simbólica, a análise dos quatro casos pesquisados permitiu evidenciar a inclusão de variáveis de cunho subjetivo no processo de decisão na área de P&D, com vista à definição da forma de realização de suas atividades. A referida dimensão subjetiva representou, na maioria das narrativas, a confluência de valores individuais, coletivos (dos grupos e subgrupos organizacionais) e da cultura organizacional, em seus aspectos objetivos e subjetivos, contidos em regras, procedimentos, normas, processos, práticas, imagens, símbolos, sinais, narrativas, mitos, etc. Foi possível verificar, também, que as diversas construções de realidade social, dentro das organizações, propiciam diferentes condições de manifestação de interesses individuais em processos de decisão na área de P&D, condicionando o posicionamento dos indivíduos no tocante à externalização das atividades desta unidade organizacional. Já a maneira como é exercida a influência da cultura organizacional, como também a intensidade e grau de sua efetividade, depende da forma pela qual a cultura foi constituída, da história subjacente à sua construção e da natureza comportamental dos integrantes da organização. No entanto, é importante destacar que o método de análise empregado faculta diferentes percepções, na dependência situacional e contextual, ou seja, permite ao analista "descobrir" novas nuances a cada releitura do mesmo texto, suscitando novas interpretações. / Innovations, technological and organizational, are not considered a fad anymore, occupying now a prominent place within organizations. With the opening of markets and the sophistication of the requirements of the consumers, both domestically and worldwide, differentiation has become something vital for the organizations and innovation a path to reach it. Within the technological innovation, research and development is considered essential and has become, increasingly, object of the attention of researchers. Traditionally considered a highly technical area, focused only on the development of the solutions technological and commercially viable, this unit has assumed new responsibilities, resulting in the change in its profile, through the interaction with other organizational areas. Thus, the symbolic universe of the group of the technicians of this unit was expanded and included in its repertoire new values and images of the organization, influencing decision-making. The research for the present management doctoral theses was built in order to analyze the process by which the subjective dimension is manifested in R & D, specifically in the decisions about how will be performed the activities of this organizational unit, that would be executed internally or through contracts with external agents. Because the specificities of the study, was opted for a qualitative, multiple case study, evidence collection through non structured interviews and the narrative analysis method in four organizations, technology-based, located in the metropolitan region of Porto Alegre. This methodology, considered adherent to the objectives of the research, despite its nature, interpretative and symbolic, the four cases investigated has highlighted the inclusion of the subjective variables in the decision-making process in R & D in order to define the form in which their activities should be performed. This subjective dimension was represented in the narratives through the confluence of the individual and collectives values, (groups and subgroups organization) oriented by organizational culture in their objective and subjective aspects, reflected in rules, procedures, standards, procedures, practices, images signs, symbols, narratives, myths, etc.. Was evidenced that the various constructions of the social reality within these four organizations provide different conditions for the expression of the interests in the individual decisionmaking in R & D. This different conditions influence individual and collective positions in the relation to the outsourcing of activities of this organizational unit. The way, effectiveness and the intensity of this influence depends on the organizational culture, the story behind its construction and behavioral characteristics of the members of the organization. However, it is important to emphasize that the employed method of analysis provides different perceptions, depending on the situation and context, that is, allows the analyst to "discover" new nuances with each new reading of the text that can inspire new interpretations.

A inovação, tanto tecnológica como organizacional, deixou de ser um modismo para ocupar um lugar de destaque dentro das organizações. Com a abertura dos mercados e a sofisticação do padrão de exigências de consumidores, tanto no mercado interno, como no exterior, a diferenciação passou a ser palavra de ordem e a inovação uma necessidade. Dentro da inovação tecnológica, as atividades de pesquisa e desenvolvimento são consideradas essenciais e tem merecido, cada vez mais, a atenção de pesquisadores. Considerada tradicionalmente uma área eminentemente técnica, com foco em concepção de soluções tecnológica e comercialmente viáveis, tem assumido novas atribuições, o que implicou na alteração do seu perfil, passando a interagir com as demais áreas organizacionais. Desta forma, o universo simbólico do grupo de técnicos da área foi ampliado e incluiu no seu repertório novos valores e imagens da organização, influenciando o processo decisório. O presente trabalho de pesquisa, para a tese de doutorado em administração, foi construído com o objetivo de analisar o processo por meio do qual esta dimensão subjetiva se manifesta na área de P&D, no tocante à forma de realizar as atividades desta unidade organizacional, ou seja, internamente ou através de contratos com agentes externos. Considerando as especificidades do referido estudo, optou-se pela abordagem qualitativa, estudo de caso múltiplo, coleta de evidências através de entrevistas não estruturadas e o método de análise de narrativas, em quatro empresas de base tecnológica, localizadas na região metropolitana de Porto Alegre. Apesar das possíveis fragilidades inerentes ao referido método, de natureza interpretativista simbólica, a análise dos quatro casos pesquisados permitiu evidenciar a inclusão de variáveis de cunho subjetivo no processo de decisão na área de P&D, com vista à definição da forma de realização de suas atividades. A referida dimensão subjetiva representou, na maioria das narrativas, a confluência de valores individuais, coletivos (dos grupos e subgrupos organizacionais) e da cultura organizacional, em seus aspectos objetivos e subjetivos, contidos em regras, procedimentos, normas, processos, práticas, imagens, símbolos, sinais, narrativas, mitos, etc. Foi possível verificar, também, que as diversas construções de realidade social, dentro das organizações, propiciam diferentes condições de manifestação de interesses individuais em processos de decisão na área de P&D, condicionando o posicionamento dos indivíduos no tocante à externalização das atividades desta unidade organizacional. Já a maneira como é exercida a influência da cultura organizacional, como também a intensidade e grau de sua efetividade, depende da forma pela qual a cultura foi constituída, da história subjacente à sua construção e da natureza comportamental dos integrantes da organização. No entanto, é importante destacar que o método de análise empregado faculta diferentes percepções, na dependência situacional e contextual, ou seja, permite ao analista "descobrir" novas nuances a cada releitura do mesmo texto, suscitando novas interpretações. / Innovations, technological and organizational, are not considered a fad anymore, occupying now a prominent place within organizations. With the opening of markets and the sophistication of the requirements of the consumers, both domestically and worldwide, differentiation has become something vital for the organizations and innovation a path to reach it. Within the technological innovation, research and development is considered essential and has become, increasingly, object of the attention of researchers. Traditionally considered a highly technical area, focused only on the development of the solutions technological and commercially viable, this unit has assumed new responsibilities, resulting in the change in its profile, through the interaction with other organizational areas. Thus, the symbolic universe of the group of the technicians of this unit was expanded and included in its repertoire new values and images of the organization, influencing decision-making. The research for the present management doctoral theses was built in order to analyze the process by which the subjective dimension is manifested in R & D, specifically in the decisions about how will be performed the activities of this organizational unit, that would be executed internally or through contracts with external agents. Because the specificities of the study, was opted for a qualitative, multiple case study, evidence collection through non structured interviews and the narrative analysis method in four organizations, technology-based, located in the metropolitan region of Porto Alegre. This methodology, considered adherent to the objectives of the research, despite its nature, interpretative and symbolic, the four cases investigated has highlighted the inclusion of the subjective variables in the decision-making process in R & D in order to define the form in which their activities should be performed. This subjective dimension was represented in the narratives through the confluence of the individual and collectives values, (groups and subgroups organization) oriented by organizational culture in their objective and subjective aspects, reflected in rules, procedures, standards, procedures, practices, images signs, symbols, narratives, myths, etc.. Was evidenced that the various constructions of the social reality within these four organizations provide different conditions for the expression of the interests in the individual decisionmaking in R & D. This different conditions influence individual and collective positions in the relation to the outsourcing of activities of this organizational unit. The way, effectiveness and the intensity of this influence depends on the organizational culture, the story behind its construction and behavioral characteristics of the members of the organization. However, it is important to emphasize that the employed method of analysis provides different perceptions, depending on the situation and context, that is, allows the analyst to "discover" new nuances with each new reading of the text that can inspire new interpretations.

abstract: Although China’s economy has experienced fast growth over the years, it is also characterized by a lack of innovative products and slow development of advanced production technologies. A main reason for this problem is insufficient investments in research and development (R&D) activities by Chinese firms. Because of the potential externality and free-rider effects, the economics literature has long suggested that the private sector tends to underinvest in R&D without governmental interventions. The weak protection of intellectual property rights in China makes the problem of underinvestment in R&D even worse. In this situation, it becomes increasingly important for the government to provide incentives such as subsidies on R&D investments, given that R&D investments are critical to the development of new technologies and the sustainable growth of the economy. In this study I investigate how governmental subsidies on R&D influence Chinese firms’ R&D investments and performance. Specifically, I want to find out (1) whether governmental subsidies promote or hinder firms’ R&D investments, and (2) whether governmental subsidies have differential effects on financial performance across different types of firms. My goal is to better understand the effects of governmental subsidies on Chinese firms. To achieve this goal, I first conduct an extensive review of the relevant literature and then develop a conceptual model about the determinants of governmental subsidies on R&D in China. Next, I conduct empirical analysis using data collected from all the firms listed in the Shanghai Stock Changes and Shenzhen Stock Exchanges during the period of 2009 to 2012. Overall, my findings show that governmental subsidies on R&D have a positive impact on R&D investments by the listed firms. Meanwhile, I find that this positive impact varies significantly across different types of firms, particularly among firms that are still largely owned by the state. I conclude this study with a discussion of its implications for governmental policies on R&D investments. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2015

Background:           Absorptive capacity concept has its roots dated back around 30 years ago when two seminal papers were published. During the years, more knowledge has been produced about this topic. However, most of the studies have focused on the absorptive capacity from a general point of view without correlating it with the R&D activities of family firms and family involvement.       Purpose:                  This study investigates how one of the distinctive characteristics of family firms (i.e. family involvement) plays a role along with R&D activities carried out either in-house or from external sources, in filing for a patent.   Method:                   To conduct our study we adopted a quantitative approach and used secondary data about 14759 firms located in EU.  Considering the type of selected variables, for our analysis we used logistic regression in order to see if the model we proposed was meaningful or not.   Conclusion:             The findings from our study address the research questions we formulated at the beginning. As for the R&D we conclude that family firms take more advantage from carrying out in-house R&D activities rather than R&D from external sources, matching with what claimed in the existing literature. Furthermore, our study matches with recent studies that challenge the traditional view of family involvement negatively related to innovation.

In the new economy, intangible assets have become the main creators of value to many firms. However, the valuation of these assets in the accounting framework raises several issues with respect to identification, measurement and control. In this paper the valuation, measurement and recognition of intangible assets and their impact on the financial statements are presented, analyzing the asymmetry in the allocation of resources in the equity market, the growth of investments in intangible assets and the market value of the digital economy. In a group of uruguayan companies arriving at a set of initial findings for the cases. We understand the need to review and amend the rules for the treatment of intangibles, seeking to integrate more sophisticated in IT. We also understand that the rules should provide more detailed guidance on disclosure for intangible and costs-benefits for companies (from the perspective of the capital market and investors). / En la nueva economía, los activos intangibles se han convertido en los principales creadores de valor para un gran número de empresas. Sin embargo, la valoración de estos activos en el marco contable plantea varios problemas con respecto a su identificación, medición y control. En el presente trabajo, se exponen los criterios de valuación de activos intangibles y sus consecuencias en los estados financieros, para lo cual se ha analizado la asimetría en la asignación de recursos en el mercado de capitales, el crecimiento de las inversiones en intangibles y el valor de mercado de las empresas en la economía digital. Se explora en un grupo de empresas uruguayas las cuestiones discutidas, a partir de lo cual se arriba a un conjunto de conclusiones iniciales para los casos de estudio. Entendemos que es necesario revisar y modificar las normas para el tratamiento de intangibles, de modo que se integre aspectos más sofisticados en cuanto a TI. Asimismo, entendemos que las normas deben proporcionar una orientación más detallada sobre revelación de información para intangibles y de su relación costo-beneficio para las empresas (desde la perspectiva del mercado de capitales y de los inversores).

A inovação, tanto tecnológica como organizacional, deixou de ser um modismo para ocupar um lugar de destaque dentro das organizações. Com a abertura dos mercados e a sofisticação do padrão de exigências de consumidores, tanto no mercado interno, como no exterior, a diferenciação passou a ser palavra de ordem e a inovação uma necessidade. Dentro da inovação tecnológica, as atividades de pesquisa e desenvolvimento são consideradas essenciais e tem merecido, cada vez mais, a atenção de pesquisadores. Considerada tradicionalmente uma área eminentemente técnica, com foco em concepção de soluções tecnológica e comercialmente viáveis, tem assumido novas atribuições, o que implicou na alteração do seu perfil, passando a interagir com as demais áreas organizacionais. Desta forma, o universo simbólico do grupo de técnicos da área foi ampliado e incluiu no seu repertório novos valores e imagens da organização, influenciando o processo decisório. O presente trabalho de pesquisa, para a tese de doutorado em administração, foi construído com o objetivo de analisar o processo por meio do qual esta dimensão subjetiva se manifesta na área de P&D, no tocante à forma de realizar as atividades desta unidade organizacional, ou seja, internamente ou através de contratos com agentes externos. Considerando as especificidades do referido estudo, optou-se pela abordagem qualitativa, estudo de caso múltiplo, coleta de evidências através de entrevistas não estruturadas e o método de análise de narrativas, em quatro empresas de base tecnológica, localizadas na região metropolitana de Porto Alegre. Apesar das possíveis fragilidades inerentes ao referido método, de natureza interpretativista simbólica, a análise dos quatro casos pesquisados permitiu evidenciar a inclusão de variáveis de cunho subjetivo no processo de decisão na área de P&D, com vista à definição da forma de realização de suas atividades. A referida dimensão subjetiva representou, na maioria das narrativas, a confluência de valores individuais, coletivos (dos grupos e subgrupos organizacionais) e da cultura organizacional, em seus aspectos objetivos e subjetivos, contidos em regras, procedimentos, normas, processos, práticas, imagens, símbolos, sinais, narrativas, mitos, etc. Foi possível verificar, também, que as diversas construções de realidade social, dentro das organizações, propiciam diferentes condições de manifestação de interesses individuais em processos de decisão na área de P&D, condicionando o posicionamento dos indivíduos no tocante à externalização das atividades desta unidade organizacional. Já a maneira como é exercida a influência da cultura organizacional, como também a intensidade e grau de sua efetividade, depende da forma pela qual a cultura foi constituída, da história subjacente à sua construção e da natureza comportamental dos integrantes da organização. No entanto, é importante destacar que o método de análise empregado faculta diferentes percepções, na dependência situacional e contextual, ou seja, permite ao analista "descobrir" novas nuances a cada releitura do mesmo texto, suscitando novas interpretações. / Innovations, technological and organizational, are not considered a fad anymore, occupying now a prominent place within organizations. With the opening of markets and the sophistication of the requirements of the consumers, both domestically and worldwide, differentiation has become something vital for the organizations and innovation a path to reach it. Within the technological innovation, research and development is considered essential and has become, increasingly, object of the attention of researchers. Traditionally considered a highly technical area, focused only on the development of the solutions technological and commercially viable, this unit has assumed new responsibilities, resulting in the change in its profile, through the interaction with other organizational areas. Thus, the symbolic universe of the group of the technicians of this unit was expanded and included in its repertoire new values and images of the organization, influencing decision-making. The research for the present management doctoral theses was built in order to analyze the process by which the subjective dimension is manifested in R & D, specifically in the decisions about how will be performed the activities of this organizational unit, that would be executed internally or through contracts with external agents. Because the specificities of the study, was opted for a qualitative, multiple case study, evidence collection through non structured interviews and the narrative analysis method in four organizations, technology-based, located in the metropolitan region of Porto Alegre. This methodology, considered adherent to the objectives of the research, despite its nature, interpretative and symbolic, the four cases investigated has highlighted the inclusion of the subjective variables in the decision-making process in R & D in order to define the form in which their activities should be performed. This subjective dimension was represented in the narratives through the confluence of the individual and collectives values, (groups and subgroups organization) oriented by organizational culture in their objective and subjective aspects, reflected in rules, procedures, standards, procedures, practices, images signs, symbols, narratives, myths, etc.. Was evidenced that the various constructions of the social reality within these four organizations provide different conditions for the expression of the interests in the individual decisionmaking in R & D. This different conditions influence individual and collective positions in the relation to the outsourcing of activities of this organizational unit. The way, effectiveness and the intensity of this influence depends on the organizational culture, the story behind its construction and behavioral characteristics of the members of the organization. However, it is important to emphasize that the employed method of analysis provides different perceptions, depending on the situation and context, that is, allows the analyst to "discover" new nuances with each new reading of the text that can inspire new interpretations.

O objetivo deste trabalho é contribuir para literatura empírica que avalia o impacto dos incentivos públicos à pesquisa e desenvolvimento (P&D) com dados de firmas brasileiras. Em particular foi avaliado o impacto da Lei do Bem, instrumento de incentivo fiscal à atividade de pesquisa e desenvolvimento privado. Essa avaliação foi conduzida a partir de estimações de modelos econométricos com microdados de empresas industriais brasileiras. Foi aplicado a técnica de matching e realizadas estimações de modelos empíricos de investimento com dados em painel. O impacto foi avaliado considerando toda amostra de empresas industriais e por intensidade tecnológica, adicionalmente foi analisado o efeito de dosagem. Os resultados trazem evidências que existe impacto positivo no dispêndio em P&D nas firmas, rejeitando a hipótese de crowding-out. / The objective of this work is to contribute to the empirical literature that evaluates the effectiveness of public support on private R&D with Brazilian firms data. In particular was evaluated an instrument of fiscal incentive called ,,Lei do Bem\". The evaluation was conducted applying econometric approach using microdata of industrial firms. A matching was conducted and estimated empirical investment equation with panel data. The effect was evaluated in full sample and dividing by technological intensity, the dosage effect was also considered. The results indicate a positive impact on the expenditure in R&D, rejecting the crowding-out hypothesis.