<p>Syftet med denna magisteruppsats är att studera huruvida en hög tillgänglighet till FoU vid företag respektive universitet genererar exporttillväxt. Denna tankegång grundar sig i produktcykelteorin varför även denna uppsats är en analys i dess validi-tet. Företag i en region som har stor tillgång till kunskap och forskning bör även vara i en frontposition inom export. Denna tillgänglighet har grupperats i forskning vi universitet och högskolor eller forskning inom företag. Därtill kan även denna till-gänglighet indelas vid dess geografiska lokalisering.</p><p>På grund av data som använts vid analysen och dess komplexitet är resultaten troliga-re en indikation än exakta. Tillgängligheten är tveklöst av vikt för exporttillväxten men de olika underavdelningarna skiljer sig från varandra. Företagsforskning tycks påverka exporttillväxten positivt oavsett lokalisering. Därtill följer resultaten teorin eftersom den externa tillgängligheten till företagsforskningen har en betydligt större inverkan än den externa.</p><p>Tillgängligheten till universitetsforskning ger de mest anmärkningsvärda resultaten. Utan en statistisk säkerhet kan endast en tendens utrönas. Universitetsforskningen ter sig svårare för företag att absorbera oavsett om den utförs inom regionen eller ex-ternt. Relationen mellan företag och universitet kan antas vara av dubbel natur där de å ena sidan påverkar varandra positivt samtidigt som de konkurrerar om samma ut-rymme i en region.</p> / <p>The purpose of this master thesis is to study whether a high accessibility to R&D performed by firms and universities respectively generate export growth. This sug-gestion is founded in the theory of the product cycle why this thesis also scrutinizes its validity. Firms in a region which have a high access to knowledge and research should have a front position within export. This access can be sub-divided into the unit of performance or with respect to the geographical location.</p><p>Due to the data used in the analysis and its complexity, the final result is an indica-tion rather than precise. The accessibility is doubtlessly of major importance for the export growth but the subdivisions give different results. Research performed by firms seems to affect the export growth positively irrespective of the localisation. Also, the external accessibility to firm research has a larger impact on the export growth than if it is performed internally.</p><p>The access to research performed by universities gives the most notable results. Without statistical significance a tendency can only be distinguished. The research performed by universities seems more difficult to absorb by firms irrespective of geographical location. The relation between firms and universities may be two folded where it is positive as well as competitive.</p>

<p>The purpose of this thesis is to analyze the effect of human capital in Swedish export. Human capital is here expressed as the number of employees in the private sector per municipality with university education of at least three years. Two regression models were tested with aggregated export value/municipality and export value per kilo/municipality as dependent variables. Human capital as well as the total accessibility to R&D was assumed to have a positive impact on the Swedish export performance.</p><p>During the last decades many economists have attached great importance to education, knowledge and investments in R&D. Sweden is in general abundant in human capital and have also several world leading companies characterized by knowledge intensive production and export. According to the Product Life Cycle Theory, Sweden should focus on the first phase that requires high input of human capital and product competition to maintain the competitiveness in the international market.</p><p>The results indicate as expected that the access to human capital as well as accessibility to R&D have a positive impact on the Swedish aggregated export value and export value per kilo. The assumption about human capital being even more important in high value export could not be confirmed by the results. Innovation promoting investments together with continuous efforts to improve innovation nets and interaction possibilities are presumed to be important factors for Swedish competitiveness also in the future.</p>

<p>This thesis analyses the effect of FDI induced technology transfer and spillover on economic growth in the CEE countries and the Baltic States. We develop a framework were FDI and R&D are seen as sources of technological progress (A). Transition economies, due to the need to catch up quickly with more advanced economies, rely on FDI as a major channel through which they can tap the needed technology.</p><p>Whether or not technology spills over to the entire economy depends on the ability of the countries to diffuse the advanced technology transferred by FDI. We test using panel data analysis, if FDI alone can spur growth or whether the FDI induced technology spillover effect is enhanced by the level of R&D.</p><p>Empirical evidence is found that FDI and R&D as an interaction term have helped the CEE countries and the Baltic States to accelerate growth by modernizing the economy through an upgrading process.</p>

In the first essay we examine the effect of concurrent lending and underwriting on IPO withdrawal, we find that IPOs underwritten by the firms’ concurrent lending banks are significantly more likely to be withdrawn. The result is robust to controlling for the common factors that affect IPO withdrawal and also for endogeneity using a propensity score matching portfolio. Our evidence suggests a cost to IPO firms’ hiring concurrent lending banks as underwriters despite the potential benefit of informational scope economies such intermediaries may provide. It is consistent with an alternative argument that a current lending and underwriting bank has less incentive to help sell its client firms’ securities because of its lock-in of the firms’ subsequent borrowing needs even when it fails to sell the securities. In the second essay, we examine the investment decisions of second-time IPO firms after successfully going public. Our findings show that, contrary to first time IPOs, second-time IPOs are not active acquirers and spend significantly more on CAPEX and R&D than first-time IPOs. Unlike acquisitions in the post-IPO period, CAPEX and R&D spending benefit second-time IPOs’ long run performance.

In this dissertation, I present a grounded exploration of some processes and mechanisms through which internal ambiguity helps groups adapt to&mdash;and thus cope with&mdash;external ambiguity and an unpredictably changing environment.

Innovation is not always enough. In the beginning of the 2000s established pharmaceutical firms had developed several drugs, yet these new products were far too few. Patents of many blockbuster drugs were to soon expire and substantial profit would then be lost. A potential solution emerged: implementing new biomarker technologies in drug development. Biomarkers are required for knowledge creation about the drug effect on underlying causes of a disease. The problem is this: although academia, industry, and policy makers have deemed biomarkers as necessary for successful drug development, pharmaceutical firms have not used them in actual drug development projects.  Since the 1990s, established pharmaceutical firms have invested financially and restructured organizationally in order to implement biomarkers. Still, cases show that more than 50% of project termination in Clinical Phase 2 (the bottle neck of drug development) can be attributed to the lack of implementing biomarkers.   Challenges of established firms transforming in the face of technology change is a commonly studied phenomenon within innovation management literature. Several explanations have attempted to determine why established firms fail in following technology change. However, most of this literature has been based upon an empirical context where technology change is conceptualized as an innovation of the dominant product design in the industry. Consequently, the challenge is to develop or adapt a discontinuous product innovation. Conversely, implementing biomarkers is a case of technology change that impacts R&amp;D. Since drugs lose their value when the patent protection expires, the established pharmaceutical firms need to continuously develop new block buster drugs – not just one product. More research is needed to fill this gap in the literature in order to develop an understanding of the established firm challenge in implementing biomarkers. This thesis builds upon a longitudinal case study of AstraZeneca. Using multiple data sources, the findings show that the dominant architecture of the drug development process during the 2000s impeded the implementation of biomarkers. AstraZeneca required an “architectural process innovation” in order to complete this implementation. The company’s process-based management structures distorted it from recognizing the need for process change. This thesis has three contributions: First, it describes the process change and the firm’s managerial challenges associated with biomarker implementation; Second, it contributes to the literature on the established firm challenge by developing an understanding of the phenomenon of architectural process innovation; Third, it develops a process-based framework for studying technology change that affects R&amp;D. / <p>QC 20151106</p>

This dissertation consists of three essays in applied microeconomics. These essays investigate different aspects of the impact of technology on labor market outcomes and firm strategy. The first essay, co-authored with Ronald L. Oaxaca, is in the area of labor economics and it investigates the relation between non-neutral technological change and the gender gap in wages. This essay is the first to address the issue of the recent narrowing of the gender wage gap in the context of technological change by using a novel approach to separately estimate the effects of technological change and discrimination on the gender wage gap. Using a constant elasticity of substitution production function and Current Population Survey data on employment and wages by industry and occupation, the results show that changes in non-neutral technological change explain between 5% and 9% of the narrowing of the wage gap between 1979 and 2001. The latter two essays span topics across applied industrial organization, firm strategy and labor economics. The second component of my dissertation investigates the relation between technological knowledge diffusion through the labor mobility of scientists and the organization of R&amp;D activities by innovative firms. Using a labor mobility measure from the Current Population Survey March Supplements as a measure for inter-firm technology spillovers and a panel of R&amp;D alliance data for 18 U.S. industries between 1989 and 1999, a Poisson estimation shows that firms facing a 10% increase in the labor mobility of scientists have a 5% increase in the annual number of R&amp;D collaborations. The third essay is an empirical analysis of the impact of knowledge dissemination generated by the labor mobility of scientists and engineers on a measure of the pace of innovation. Using an unbalanced panel of firms containing patent data matched with firm data across eight innovative industries, from 1989 to 1998, along with a measure of the labor mobility of scientists and engineers, this essay provides evidence that firms in industries exposed to levels of labor mobility of scientists and engineers that differ by 1%, have an expected time lag between sequential generations of technologies that differs by 0.56 years.

Investments in financial and human capital are cornerstones in R&amp;D organizations longing for profitable business in an increasingly competitive environment. However, another aspect to consider for R&amp;D managers to succeed in terms of increased innovation is clan control, which is a widely described subject in management literature, not least by Ouchi. In this study, relationships between financial/human capital, clan control and innovation were examined in a setting of R&amp;D organizations within the Stockholm-Uppsala region. Positive relationships were found between education and patents issued; and stability orientation and projects completed. A negative relationship was found between innovation orientation and patents issued. In the end a brief discussion concludes the results and directions for further research are proposed.

According to the Globalizations Council the most important task Sweden has is to assess the opportunities and challenges presented by the global economy to a small, open country like Sweden. There has been dual competition, some has been able to sell the resource services of human and physical knowledge capital, and others offering to sell unskilled labor at wages way below Swedish standards. This thesis will examine the changes in market position in the manufacturing sector, and how comparative advantage and the role of technology have impacted the changes. The empirical analysis is based on the relative international competitiveness index to examine how market position in different sectors has changed during the time-period 1985-2003. In the regression measures for human and physical capital has been included as well as R&amp;D expenditure for both Sweden and the OECD countries. The results show that the changes in market position for most products are relatively small. What can be concluded is that it is not the sector as a whole that experience improving market positions instead it is certain products such as pharmaceutical, sulphate and electronic components among others. Sweden ranks very high in terms of resources dedicated to production of new technology and there are proofs on both side of the "Swedish Paradox"; which states that high technology exports are low given the high R&amp;D investment. The result also indicates that Sweden has a labor-intensive disadvantage, i.e. indications that the market position for industries with high total capital-intensity has increased.

This research develops a real options perspective framework for firms‘ valuation of strategic investments. I propose that a real options perspective can provide an effective means of re-examining and revising firms‘ strategic investment decisions in general, and of making individual, investment-level abandonment decisions in particular. The principal purposes of this research are to explore whether firms make abandonment decisions in accordance with real options theory, and the relative strength of the traditional economic theory, the behavioral theory of the firm and real options theory in explaining firms‘ abandonment decisions. I develop a set of hypotheses in the context of firms‘ R&D investment strategies in the world chemical industry. Using U.S. patent renewal data, I empirically test the hypotheses. The results from the empirical analyses suggest that, 1) firms‘ actual innovation abandonment decisions are consistent with the predictions made from real options theory; and 2) a real options perspective provides better explanation of firms‘ abandonment decisions than traditional economic theory and the behavioral theory of the firm. Therefore, taking such a perspective allows us to better predict abandonment than the other models. In investigating whether insights from real options theory enlighten firm‘s abandonment decisions, this research contributes to the strategic decision making literature, real options research, RBV and dynamic capability research and innovation literature.