Business cycles and FDI: evidence from German sectoral data

Globalization has effected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. We use a new firm-level dataset on the foreign activities of German firms to test whether foreign activities are affected by business cycle developments. We aggregate the data by the sector of the reporting firm, the sector of the foreign affiliate, and the host country. Data are annual and cover the period 1989-2002. We find that German outward FDI increases in response to positive cyclical developments abroad and in response to a real depreciation of the domestic currency. --Business cycles,multinational activity,FDI

Business Cycles and the Role of Confidence: Evidence from Europe

Using an under-utilised dataset on consumer and business confidence indicators across the UK, France, Italy and the Netherlands, this paper considers the extent to which such indicators are linked to GDP and the business cycle. We adopt, cross correlation descriptive statistics, Granger causality tests, variance decomposition, and forecast probit tests to investigate the properties of the data. In general consumer and business confidence indicators are leading indicators and pro-cyclical. There is some evidence of causality between the indicators and GDP and confidence indicators would appear to have good predictive power of cycle turning points in relation to other leading indicators.

Biomedical academic entrepreneurship through the SBIR program2.

This paper considers the U.S. Small Business Innovation Research (SBIR) program as a policy fostering academic entrepreneurship. We highlight two main characteristics of the program that make it attractive as an entrepreneurship policy: early-stage financing and scientist involvement in commercialization. Using unique data on NIH supported biomedical researchers, we trace the incidence of biomedical entrepreneurship through SBIR and describe some of the characteristics of these individuals. To explore the importance of early-stage financing and scientist involvement, we complement our individual level data with information on scientist-linked and non-linked SBIR firms. Our results show that the SBIR program is being used as a commercialization channel by academic scientists. Moreover, we find that the firms associated with these scientists perform significantly better than other non-linked SBIR firms in terms of followon venture capital funding, SBIR program completion, and patenting.Academic entrepreneurship; Characteristics; Data; Firms; Information; Innovation;

Do institutional changes affect business cycles? Evidence from Europe

We study the effects that the Maastricht treaty, the creation of the ECB, and the Euro changeover had on the dynamics of European business cycles using a panel VAR and data from ten European countries - seven from the Euro area and three outside of it. There are changes in the features of European business cycles and in the transmission of shocks. They precede the three events of interest and are more linked to a general process of European convergence and synchronization.Business cycles, European Monetary Union, Panel VAR, Structural changes.

Biomedical Academic Entrepreneurship Through the SBIR Program

This paper considers the U.S. Small Business Innovation research (SBIR) program as a policy fostering academic entrepreneurship. We highlight two main characteristics of the program that make it attractive as an entrepreneurship policy: early-stage financing and scientist involvement in commercialization. Using unique data on NIH supported biomedical researchers, we trace the incidence of biomedical entrepreneurship through SBIR and describe some of the characteristics of these individuals. To explore the importance of early-stage financing and scientist involvement, we complement our individual level data with information on scientist-linked and non-linked SBIR firms. Our results show that the SBIR program is being used as a commercialization channel by academic scientists. Moreover, we find that the firms associated with these scientists perform significantly better than other non-linked SBIR firms in terms of follow-on venture capital funding, SBIR program completion, and patenting.

Biomedical Academic Entrepreneurship Through the SBIR Program

This paper considers the U.S. Small Business Innovation Research (SBIR) program as a policy fostering academic entrepreneurship. We highlight two main characteristics of the program that make it attractive as an entrepreneurship policy : early-stage financing and scientist involvement in commercialization. Using unique data on NIH supported biomedical researchers, we trace the incidence of biomedical entrepreneurship through SBIR and describe some of the characteristics of these individuals. To explore the importance of early-stage financing and scientist involvement, we complement our individual level data with information on scientist-linked and non-linked SBIR firms. Our results show that the SBIR program is being used as a commercialization channel by academic scientists. Moreover, we find that the firms associated with these scientists perform significantly better than other non-linked SBIR firms in terms of followon venture capital funding, SBIR program completion, and patenting. --Academic entrepreneurship,star scientists,SBIR,Venture Capital,innovation

SOA and BPM, a Partnership for Successful Organizations

In order to stay effective and competitive, companies have to be able to adapt themselves to permanent market requirements, to improve constantly their business process, to act as flexible and proactive economic agents. To achieve these goals, the IT systems within the organization have to be standardized and integrated, in order to provide fast and reliable data access to users both inside and outside the company. A proper system architecture for integrating company’s IT assets is a service oriented one. A service-oriented architecture (SOA) is an IT architectural style that allows integration of the company’s business as linked, repeatable tasks called services. A subject closely related to SOA is Business Process Management (BPM), an approach that aims to improve business processes. The paper also presents some aspects of this topic, as well as the relationship between SOA and BPM. They complement each other and help companies improve their business performance.Information Systems, SOA, Web Services, BPM

Gender diversity in the board, women’s leadership and business performance

Purpose: This paper investigates how gender diversity in top management—i.e., boardroom and top management positions—impacts business performance among Colombian public businesses. Design/methodology/approach: Building on the Upper Echelon theory which emphasizes that gender in an important characteristic that influences top management’s decision making, we employ panel data models on a sample of 54 Colombian public businesses for the period 2008-2015 to test the proposed hypotheses relating gender diversity and subsequent business performance. Findings: The results support that gender diversity is positively associated with subsequent business performance. More concretely, we find that the relationship between gender diversity at the top of the corporate hierarchy—in our case, as CEO and in the top management team—and subsequent performance becomes more evident when performance is linked to business operations (ROA), while the positive effect of women’s representation in the boardroom and subsequent performance is significant when performance is measured via shareholder-oriented metrics (ROE). Originality/value: Few studies have addressed the role of gender diversity on performance in developing economies. This study contributes to better understand how gender diversity impacts performance in contexts where women are underrepresented in the top management, and where the appointment of women directors or managers is not driven by regulatory pressures.Peer ReviewedPostprint (author's final draft