Do process innovations boost SMEs productivity growth?

In this paper we explore in depth the effect of process innovations on total factor productivity growth for small and medium enterprises (SMEs), taking into account the potential endogeneity problem that may be caused by self selection into these activities. First, we analyse whether the ex-ante most productive SMEs are those that start introducing process innovations; then, we test whether process innovations boost SMEs productivity growth using matching techniques to control for the possibility that selection into introducing process innovations may not be a random process. We use a sample of Spanish manufacturing SMEs for the period 1991-2002, drawn from the Encuesta sobre Estrategias Empresariales. Our results show that the introduction of process innovations by a first-time process innovator yields an extra productivity growth as compared to a non-process innovator, and that the life span of this extra productivity growth has an inverted U-shaped form. En este artículo se exploran los posibles efectos de la introducción de innovaciones de proceso en el crecimiento de la productividad de las pequeñas y medianas empresas (PYMES). Para ello se presta especial atención a la existencia de un problema de selección no aleatorio en la implementación de tales innovaciones. En primer lugar, se analiza si son aquellas empresas ex-ante más productivas las que introducen innovaciones de proceso. A continuación, se utilizan técnicas de matching para contrastar si la implementación de innovaciones de proceso acelera el crecimiento de la productividad de las PYMES. La utilización de técnicas de matching permite controlar la posible existencia de un proceso de selección no aleatorio en la implementación de innovaciones de proceso. El análisis empírico se lleva cabo usando una muestra de PYMES manufactureras españolas extraída de la Encuesta sobre Estrategias Empresariales. Nuestros resultados muestran que la implementación de innovaciones de proceso por parte de PYMES sin experiencia previa en la introducción de tales innovaciones, produce un crecimiento extra de la productividad de estas PYMES en comparación con el de aquellas PYMES que no implementan innovaciones de proceso. Adicionalmente, nuestros resultados sugieren la existencia de una relación en forma de U invertida entre el crecimiento extra de la productividad y el tiempo transcurrido desde la introducción de la innovación de proceso.innovaciones de proceso, PTF, dominancia estocástica, técnicas de matching. process innovations, TFP, stochastic dominance, matching techniques.

SUNK COSTS HYSTERESIS IN SPANISH MANUFACTURING EXPORTS

This paper tests the sunk costs explanation for hysteresis in exports using a sample of Spanish manufacturing firms for the period 1990-2000. The data are drawn from the Spanish Encuesta sobre Estrategias Empresariales. To obtain consistent estimates for sunk costs, we control for all other sources of persistence and use a dynamic random effects multivariate probit model that is estimated through pseudo simulated maximum-likelihood techniques. Our results support the sunk costs explanation for hysteresis. Furthermore, regional spillovers and some firm characteristics such as size, productivity or vertical and horizontal product differentiation are found to have a significant influence on the probability of exporting. El objetivo de este artículo es analizar el papel de los costes irrecuperables como factorexplicativo de la histéresis de las exportaciones. Para ello se hace uso de una muestra deempresas industriales españolas para el período 1999-2000, que proviene de la Encuestasobre Estrategias Empresariales. Con el objetivo de obtener estimaciones consistentespara los costes irrecuperables, controlamos por todas las posibles fuentes alternativas depersistencia y estimamos nuestro modelo usando técnicas de pseudo máximaverosimilitud simulada. Nuestros resultados confirman a los costes irrecuperables comocausante de la histéresis de las exportaciones. Adicionalmente, encontramos que lasexternalidades regionales y algunas características empresariales tales como tamaño,productividad o diferenciación horizontal y vertical tienen un impacto significativosobre la probabilidad de exportar.Histéresis de las exportaciones, costes irrecuperables, modelos dinámicos de elección discrecional hysteresis in trade, sunk costs, dynamic discrete choice models

The effect of foreign and domestic patents on total factor productivity during the second half of the 20th century

This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the 20th century. We perform this analysis for several European countries (France, Germany, the United Kingdom, and Spain) and the U.S., extending Coe and Helpman’s (1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the U.S. in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the level of investment in human capital, the higher the level of investment in domestic innovation, and the higher the response of TFP to a 1% increase in any of the aforementioned variablesEste trabajo analiza la relación entre la productividad total de los factores (PTF ) y las variables relacionadas con la innovación durante la segunda mitad del siglo XX . Este análisis se lleva a cabo en varios países europeos (Francia, Alemania, el Reino Unido y España) y en Estados Unidos, ampliando el trabajo de Coe y Helpman (1995) sobre la especificación empírica para incluir el capital humano. Utilizamos un nuevo conjunto de datos de patentes durante los últimos 150 años para calcular el stock de conocimiento mediante el método de inventario permanente. Nuestro análisis empírico con series temporales confirma la relación heterogénea entre las variables de innovación (stock de conocimiento nacional, importaciones de conocimiento y capital humano) y la productividad. Nuestros resultados ponen de manifiesto hasta qué punto las diferencias observadas en los patrones de adopción de tecnología y los niveles de dotación de esos recursos pueden explicar las diferencias en la dinámica de la PTF entre países. Los coeficientes estimados confirman la brecha considerable que aún existe entre los países europeos y EE.UU. en las variables relacionadas con la innovación. Además, se obtiene un hallazgo que puede tener importantes implicaciones para las políticas de innovación: cuanto mayor sea el nivel de inversión en capital humano, mayor es el nivel de inversión en innovación nacional y mayor será la respuesta de la PTF a un aumento del 1 % en alguna de las variables mencionadas previament

The effect of foreign and domestic patents on total factor productivity during the second half of the 20th century

This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the 20th century. We perform this analysis for several European countries (France, Germany, the United Kingdom, and Spain) and the U.S., extending Coe and Helpman’s (1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the U.S. in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the level of investment in human capital, the higher the level of investment in domestic innovation, and the higher the response of TFP to a 1% increase in any of the aforementioned variablesEste trabajo analiza la relación entre la productividad total de los factores (PTF ) y las variables relacionadas con la innovación durante la segunda mitad del siglo XX . Este análisis se lleva a cabo en varios países europeos (Francia, Alemania, el Reino Unido y España) y en Estados Unidos, ampliando el trabajo de Coe y Helpman (1995) sobre la especificación empírica para incluir el capital humano. Utilizamos un nuevo conjunto de datos de patentes durante los últimos 150 años para calcular el stock de conocimiento mediante el método de inventario permanente. Nuestro análisis empírico con series temporales confirma la relación heterogénea entre las variables de innovación (stock de conocimiento nacional, importaciones de conocimiento y capital humano) y la productividad. Nuestros resultados ponen de manifiesto hasta qué punto las diferencias observadas en los patrones de adopción de tecnología y los niveles de dotación de esos recursos pueden explicar las diferencias en la dinámica de la PTF entre países. Los coeficientes estimados confirman la brecha considerable que aún existe entre los países europeos y EE.UU. en las variables relacionadas con la innovación. Además, se obtiene un hallazgo que puede tener importantes implicaciones para las políticas de innovación: cuanto mayor sea el nivel de inversión en capital humano, mayor es el nivel de inversión en innovación nacional y mayor será la respuesta de la PTF a un aumento del 1 % en alguna de las variables mencionadas previament

Human capital and the intertemporal substitution for leisure : empirical evidence for Spain

In this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones.info:eu-repo/semantics/publishedVersio

A multi-dimensional analysis on how different types of innovations impact SMEs business performance

This paper examines the impact of innovation decisions on business performance for small and medium-sized enterprises based on a multi-dimensional analytical approach. With this aim, the impact of the firm’s innovation decisions (in terms of the introduction of product, process, and/or organisational innovation) on four alternative performance indicators (two financial indicators: sales increase and cost reduction; and two operational indicators: increase of productive capacity and improvement in quality) is analysed. Additionally, an array of potential moderating determinants (such as firm and entrepreneur characteristics) are controlled for. Our findings highlight the existence of positive impacts of innovation decisions on both dimensions of business performance (financial and operational), but these impacts significantly differ depending on the type of innovation and the performance indicator considered. Thus, in order to study the multifaceted effects of innovation decisions made by the firm, results point out that the relationship between innovation (product, process, or organisational) and business performance should be analysed from a multi-dimensional approach. These findings imply significant implications for the design and implementation of innovation strategies in SMEs, since these should be tailored according to the business performance sought by the firm

Surface magnetism in ZnO/Co3O4 mixtures

We recently reported the observation of room temperature ferromagnetism in mixtures of ZnO and Co3O4 despite the diamagnetic and antiferromagnetic character of these oxides respectively. Here we present a detailed study on the electronic structure of this material in order to account for this unexpected ferromagnetism. Electrostatic interactions between both oxides lead to a dispersion of Co3O4 particles over the surface of ZnO larger ones. As a consequence, the reduction of Co+3 to Co2+ at the particle surface takes place as evidenced by XAS measurements and optical spectrocopy. This reduction allows to xplain the observed ferromagnetic signal within the well established theories of magnetism.Comment: Accepted in Journal of Applied Physic

Operating Speed models for heavy vehicles on tangents of Spanish two-lane rural roads

Road safety is one of the most important public health concern in our society. In Spain, the most of the traffic accidents involving a heavy vehicle occur on two-lane rural roads. Current consistency models only rely on the analysis of the operating speed profile for passenger cars due to the few speed models available for heavy vehicles. Therefore, the main objective of this research was to analyze and model the free flow speed developed by heavy vehicles on tangents of two-lane rural roads. Thus, this research presents new speed models for estimating heavy vehicle speeds on tangents of two-lane rural roads. To do this, truck speeds were collected by means of Global Positioning System tracking devices, on 49 tangents sections that were identified from 12 road sections. Two different patterns were detected, which were associated with loaded and unloaded trucks. The combined effect of geometric and operational variables was analyzed. As a result, the most influential variables on loaded truck speeds were the speed of the preceding horizontal curve and the grade of the tangent, whereas unloaded truck speeds were significantly influenced by the length of the tangent and the speed of the preceding horizontal curve. Finally, several regression models were calibrated to predict the 85th and 15th percentile speeds for both loaded and unloaded trucks