本文透過追蹤資料 (panel data)模型，被解釋變數以平均廠商生產力當作衡量指標，利用台灣經濟研究院於2001-2003年對250家生物科技廠商追蹤調查報告，來實證群聚及研究發展 (R＆D)投入對台灣生物科技產業是否為該產業帶來生產力外溢效果 (spillover effect)之研究；藉此可探討群聚與研究發展對台灣生物科技產業產生之外溢效果，同時並可比較分析歐美日對生物科技產業推展之政策，本研究結果進一步在政府擬訂生物科技產業政策上或能提供些許參考。 生物科技產業依其產業範疇分成醫藥品、醫療器材、特用化學品與食品、農業生物技術、環保及生物技術服務業等5項次產業。本文建立追蹤資料模型的固定效果 (fixed effects) 和隨機效果 (random effects)群聚及研究發展外溢效果之實證模型，然後開始進行參數估計及假設檢定，並加以分析，實證結果顯示：一、生技產業不存在固定效果，存在的是隨機效果，表示隨機干擾項 與投入變數 不具相關性。二、群聚與研究發展對國內生物技術產業所引發的外溢效果確屬存在，惟群聚外溢效果對生產力影響不顯著，但研究發展外溢效果對生產力卻具正面影響而且顯著。三、生技產業隨機效果模型與移動平均動態調整Da Silva模型估計結果一致。四、研究發展投入存在有不穩定現象，可見研究發展投入並不是對所有生技產業均有正面貢獻，諸如：特化與食品、農業生技及環保生技服務業有利於自行從事研發活動；而醫藥品業及醫療器材業則可能以與其他生技廠商或研究機構建立策略聯盟關係，如合作研發、研發活動外包 (outsourcing)及購併方式取得技術較有利。五、研究發展外溢效果最高的是特化與食品，其次是環保生技服務業，最低的則是醫療器材業；群聚外溢效果最高的是醫藥品業，其次是醫療器材業，最低的是特化與食品。六、若加以控制產業內研究發展資本存量變數，則研究發展投入與產業間研究發展資本存量對廠商生產力影響，具顯著外溢效果，且該等變數估計結果顯示其對廠商生產力的影響更大。 關鍵字：外溢效果、群聚、研究發展 / This empirical study examines the spillover effect of biotech industry clusters and R&D in Taiwan between 2001 and 2003. A sample of 250 biotechnology firms in Taiwan is used for the analysis. The biotechnology industry is classified into pharmaceutical, medical devices, specialty chemical and food, agricultural biotechnology, environmental biotechnology and service industries. To tell the difference between fixed effects and random effects panel data model of clustering and R&D, this study employs several estimation methods and tests some useful hypotheses. The results of the study show that the biotechnology industry in Taiwan does exhibit random effects, but no fixed effects. This implies that regressors are not correlated with the effect. In addition, clustering and R&D variation can affect productivity of Taiwan’s biotechnology firms. The R&D influence on the productivity of biotechnology firms is positive and significant; however clustering does not have significant impact, a result similar to that between the Fuller-Battese estimation and the moving average Da Silva estimation. R&D investment influence on the productivity of biotechnology firms is not stable in Taiwan. The specialty chemical and food, agricultural biotechnology, environmental biotechnology and service industries, for example, exhibit positive results from independent R&D. The pharmaceutical and medical devices industries, on the other hand, could benefit from building strategic R&D alliances with firms or institutes for abroad as well as through R&D outsourcing and M&A (merger and acquisition). The specialty chemical and food industry has the highest R&D spillover effect, followed by the environmental biotechnology and service industry, and last is the medical devices industry. In terms of spillover effect from clustering, the pharmaceutical industry benefits most followed, in descending order by the medical devices industry, and the specialty chemical and food industry. This study illustrates that the estimator of R&D and between industries R&D are also much larger with Fuller-Battese estimation when the control for inter-industry R&D variable is excluded. Keywords: spillover effect, clusters, R&D

The new product development (NPD) process has been long conceptualized as an intense information processing task, yet several questions about the role of information in shaping NPD decisions remain open. For instance, the persistent representation of NPD decisions as a single decision-maker outcome in existing theory; it limits our understanding of decisions that involve multiple and heterogeneous organizational stakeholders, and it appears distant from the managerial realities. This dissertation focuses on managerial decisions where information acquisition, ownership and interpretation exhibit heterogeneity. The first essay (Chapter 2) examines the role of informational asymmetries that competing firms face when investing in R&D. The second essay (Chapter 3) reveals the detrimental effects of interpretive diversity (i.e., different people may interpret differently the same information) on project termination decisions. The third essay (Chapter 4) examines how consumers' information regarding future market conditions can affect a firm's strategy on striking a balance between its primary and secondary markets.

<p>This thesis investigates the theoretical and empirical relationships between a firm’s R&D investment intensity and the systematic risk of its common stock in Sweden. This is done by examining 38 Swedish firms between 1997 and 2005. An overlapping set of 5-year window is chosen to apply to calculate the variables of the samples.</p><p>In this thesis, three factors are introduced as a proxy of main constituents of systematic risk: intrinsic business risk, degree of financial leverage and degree of operating leverage. And we use these three constituents to analysis the relationship between R&D investment and systematic risk.</p><p>The results from Monte Carlos simulations and correlation analysis of our sample show that, in Sweden, firms with higher R&D intensity do face higher stock price volatility in the stock market. At the same time, we attempt to test the relationship among R&D and systematic risk’s three constituents, but find that R&D intensive firms have more financial leverage which is opposite to our expect, which might due to the shortage of data and limitation of our sample selection, and R&D intensive firms do not have obvious relations directly with intrinsic business risk, degree of financial leverage or degree of operating leverage.</p>

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&amp;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&amp;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&amp;D we conclude that family firms take more advantage from carrying out in-house R&amp;D activities rather than R&amp;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.