The Role of Information Systems in Small and Medium Sized Enterprises in Japan

This research examines the adoption of information technology in small and medium sized enterprises in Japan. SMEs comprise more than 99 percent of the total Japanese enterprises. These one million-plus businesses employ 72.7 percent of workers and account for more than 50 percent of the total value and almost 60 percent of the value added. SMEs are not only a crucial source of employment, but through extensive subcontracting networks forming the basis of the Japanese production system, they are also essential participants in global business practices. Furthermore, they constitute a critical segment of the Japanese innovation and economic systems. This investigation explores institutional changes in Japanese SMEs and identifies the current uses of information technology, factors driving these uses, and implications for the continuing evolution of SMEs. This research shows that Japanese SMEs are beginning to use information resources to enhance their operations and strategic relationships

Innovation Systems and Knowledge-Intensive Enterpreneurship: a Country Case Study of Poland

This study surveys the current state of affairs in Poland with regard to the development of knowledge-intensive entrepreneurship (KIE), or new firm creation in industries considered to be science-based or to use research and development (R&D) intensively. We place KIE in Poland in the larger institutional context, outlining the key features of the country’s National Innovation System, and then focus on KIE itself. Our findings are perhaps more optimistic than many previous studies of knowledge-based economy development in Poland. We observe significant progress due to Polish access to the European Union. The frequency with which universities are playing a significant role as partners for firms in the innovation process has increased significantly; moreover, we observe a significant degree of internationalization of innovation-related cooperation. Another optimistic development is that the level of activity of venture capitalists seems to be fairly high in Poland considering the relatively low degree of development of capital markets offering VC investors exit opportunities. Moreover, after almost two decades of decline in the share of R&D spending in GDP, there are signs that this is beginning to rise, and that businesses are beginning to spend more on R&D. While demand-side problems continue to be significant barriers for the development of KIE, due to the relatively low level of education and GDP per capita in the country, the trends here are optimistic, with high rates of economic growth and improvements in the level of education of younger generations. Significant improvement is still needed in the area of intellectual property protection

Entrepreneurship in the Netherlands: Ambitious entrepreneurs: the driving force for the next millennium

Studie naar de dynamiek van jonge bedrijven en snelgroeiende bedrijven in Nederland, Denemarken, het Verenigd Koninkrijk, de Verenigde Staten en Zweden. In Nederland zijn er relatief weinig bedrijven met hoge werkgelegenheidsgroei. In tegenstelling tot andere landen ontwikkelt de Nederlandse overheid wel beleid om snelgroeiende bedrijven te ondersteunen.

The Industrialisation Process of Asian Small and Medium Firms

National governments throughout the Asia-Pacific Region have identified small and medium enterprises as an important source of economic growth and employment. In the past, SME business strategies have focused on production, relying on their subcontracting and sales contacts with large firms for technological innovation and marketing and on abundant domestic labour forces for comparative advantage. Recently, structural problems in the region arising from the Japanese recession, currency appreciation and rising labour costs have upset these relationships forcing SMEs to move offshore (DFI) to restore cost competitiveness and to upgrade their internal technological and organisational capacities to international standards in order to compete for contracts within more open, international markets. This paper analyses this process of change, analysing the development of SMEs within four Asian countries using a six stage evolutionary model. The majority of SMEs in these countries are still in the earlier second (dependency) or third (internalisation) stages. The more advanced SMEs have moved into the fourth (externalisation) stage, where firms develop independent technology and marketing capacities. To the extent that localisation (stage five) had occurred, it involved local embedded relationships which had limited scope for further internationalisation. Little evidence of regional integration or networking among SMEs was found.Asia-Pacific, industrialisation process, Asian small and medium enterprises

Comparison between the financial structure of SMES and that of large enterprises (LES) using the BACH database.

This study examines the financial structures and the performances of small and medium-sized enterprises (SMEs) as opposed to large enterprises (LEs) on the basis of the BACH database, which is the most advanced publicly available database for comparisons in this field. It covers the period 1990-1996 and concerns 9 countries: Austria, Belgium, France, Germany, Italy, Portugal, Spain, Japan and the United States. It deals with manufacturing only since this industry provides the best-quality data.SMES, LES, BACH Database, capitcal structures, financial structure and capital, profitability

The bank lending survey for the euro area

This occasional paper explains why the bank lending survey was developed by the ECB and describes its main features. It discusses the importance of credit developments for both the economy and the functioning of monetary policy, and further clarifies why the survey was introduced. Furthermore, the paper demonstrates that the value added of implementing a bank lending survey for the euro area lies in particular in the way it provides greater insight into developments in credit standards, non-interest rate credit conditions and terms, the risk perception of banks and the willingness of banks to lend. Credit standards are the internal guidelines or criteria of a bank which reflect the bank’s loan policy. The terms and conditions of a loan refer to the specific obligations agreed upon by the lender and the borrower. This occasional paper also considers similar surveys conducted by the Federal Reserve System in the US and by the Bank of Japan.Survey; Banks; Credit Standards; Credit Markets; European Central Bank; Federal Reserve; Bank of Japan

European Financial Integration and the Financing of Local Businesses in the New EU Member States

This paper explores the degree of financial market integration between the new and old EU member states. It also considers the likely effects of the ongoing integration process on the new members’ financial sectors. In particular, the paper discusses the implications of the high concentration of financial services and the dominance of foreign-owned institutions for the provision of financial services to small and medium-sized enterprises (SMEs) in the ten accession countries. Using enterprise data on 2,427 firms, the paper finds that access to finance still constitutes a major problem for business development and that financing conditions are considerably more difficult for SMEs than for larger entities