High growth firms, innovation and competition: the case of the US pharmaceutical industry

Innovation is key to economic growth. But firms, across sectors and regions, are highly skewed in their ability to engage with innovation, and even more skewed in their ability to translate investments in innovation into higher growth. While there was initially much attention on 'small' firms (SMEs), due to the assumption that they are more entrepreneurial and innovative, recent evidence that small firms contribute less to innovation and employment than commonly believed, has caused attention to move towards 'high growth innovative' firms (HGF). There is, however, the risk that this newly emphasized category of firms is also being 'hyped up' given how short a time period 'high growth' lasts, and how 'high growth' appears to only be important when combined with other firm specific conditions. Our paper is dedicated to exploring under what conditions high growth firms matter, in a dynamic setting over the history of the US pharmaceutical industry from 1963-2002. Following Coad and Rao (2008), we use quantile regression techniques to study the R&D-growth relationship in high growth firms compared to low growth firms. We find that the relationship is influenced by a mix of firm level characteristics including R&D intensity, R&D scale and venture capital funding. But more importantly we find that this relationship is sensitive to the changing competitive environment over the industry's history

Enterprise, Innovation and the Enviroment

This report aims to profile the activity of small and medium sized enterprises (SME) operating in the UK's environmental sector. The environmental sector is expected to be critical for the future economic development of the UK supporting a new low carbon economy. As many entrepreneurial and innovative firms require significant funding to support their innovative activities this report specifically investigates the innovation activity and financial requirements UK environmental companies. The survey report highlights the role of a variety of funding sources, including public investment for supporting these firms, particularly those active in R&D. Responding firms show a strong record of performance to date, particularly R&D active companies but also have expectations of additional finance being made available for the future in the form of loans, equity finance and government funding

MARYLAND\u27S NEXT SMART GROWTH INITIATIVE: THE NEXT STEPS

This article discusses Maryland\u27s Smart Growth and Neighborhood Conservation Initiative, the nation\u27s first statewide, incentive-based program to reduce the impact of urban sprawl. It has been used as a model by other states and espouses the notions that no growth is bad and the economy and environment are intertwined. Maryland attempts to change the bottom line of development decisions by making it more attractive and less costly to build in designated growth areas. The article identifies the next steps in Maryland\u27s Smart Growth initiative and concludes that Maryland and the United States must be successful in these and similar efforts to avoid a future of environmental and economic harm as a result of sprawl

A rigourous demonstration of the validity of Boltzmann's scenario for the spatial homogenization of a freely expanding gas and the equilibration of the Kac ring

Boltzmann provided a scenario to explain why individual macroscopic systems composed of a large number $N$ of microscopic constituents are inevitably (i.e., with overwhelming probability) observed to approach a unique macroscopic state of thermodynamic equilibrium, and why after having done so, they are then observed to remain in that state, apparently forever. We provide here rigourous new results that mathematically prove the basic features of Boltzmann's scenario for two classical models: a simple boundary-free model for the spatial homogenization of a non-interacting gas of point particles, and the well-known Kac ring model. Our results, based on concentration inequalities that go back to Hoeffding, and which focus on the typical behavior of individual macroscopic systems, improve upon previous results by providing estimates, exponential in $N$, of probabilities and time scales involved

REVIEW: AMPHIBIAN SURVEYS IN FORESTS AND WOODLANDS

Amphibian surveys provide information on the distribution, abundance and habitat requirements of species, and the environmental variables that control diversity. Such information is needed for effective conservation planning and management of forests and woodlands, including monitoring of amphibian populations in a period of apparent global decline. Amphibian surveys can be time-consuming and expensive, and many issues must be addressed to maximize the reliability of the resulting data. Sampling techniques that are effective in one region or habitat type may be less so in another, and a preliminary study comparing different techniques before undertaking a survey may be necessary. Data collected in poorly designed surveys can be unsuitable for statistical analysis, and may sometimes present a misleading picture of the distribution, abundance and habitat requirements of amphibian species. This review examines issues of survey design, assesses past amphibian surveys in forest and woodland habitats, and provides recommendations for planning an amphibian survey. Firstly, the study area and survey aims should be identifi ed, and proposed sampling techniques assessed using relevant literature or a pilot study. Ethical issues associated with proposed sampling techniques should also be considered. The number, size and arrangement of the survey units (e.g. plots, sites or transects) should be sufficient to address the survey aims. The survey units should be systematically surveyed several times with appropriate sampling techniques

Strengthening America's Best Idea: An Independent Review of the National Park Service's Natural Resource Stewardship and Science Directorate

NRSS requested that an independent panel of the National Academy conduct a review of its effectiveness in five core functions, its relationships with key internal stakeholders, and its performance measurement system. Among other things, the National Park Service's Natural Resource Stewardship and Science Directorate (NRSS) is responsible for providing usable natural and social science information throughout the National Park Service (NPS). NRSS leadership requested this review of the directorate's performance on five core functions, its relationships with key internal NPS stakeholders, and its performance measurement system.Main FindingsThe panel determined that NRSS is a highly regarded organization that provides independent, credible scientific expertise and technical information. The panel also found that NRSS and NPS have additional opportunities to advance natural resource stewardship throughout the Service. If implemented, the panel's eight major recommendations will: (1) help the Service respond to the parks' environmental challenges while raising public awareness about the condition of these special places; (2) strengthen NRSS as an organization; (3) promote scientifically based decision-making at the national, regional, and park levels; and (4) improve the existing performance measurement system

Tuna-Led Sustainable Developlment in the Pacific

The paper reviews the importance of tuna fisheries in the western and central Pacific Island Countries (PICs) and examines whether current and proposed economically focussed institutional mechanisms, that underpin tuna management, are sufficient to promote appropriate and long term tuna-led development. Substantial potential gains are shown to exist from co-operation in terms of tuna management, but it seems highly unlikely such benefits will be realised in the short or medium term despite the formation in 2004 of the Western and Central Pacific Fisheries Commission. Even if gains from co-operation were to be realised, without substantial improvements in the nstitutional quality and capacity of many PICs the tuna fisheries might still fail to sustain the region’s long-term development. The study’s implications are that the twin development priorities in the region should be support for social infrastructure, especially capacity building to increase the effectiveness of the public sector, and the promotion of co-operative approaches to ensure the sustainability and profitable use of the region’s shared fishery resources.

Random Walk Access Times on Partially-Disordered Complex Networks: an Effective Medium Theory

An analytic effective medium theory is constructed to study the mean access times for random walks on hybrid disordered structures formed by embedding complex networks into regular lattices, considering transition rates $F$ that are different for steps across lattice bonds from the rates $f$ across network shortcuts. The theory is developed for structures with arbitrary shortcut distributions and applied to a class of partially-disordered traversal enhanced networks in which shortcuts of fixed length are distributed randomly with finite probability. Numerical simulations are found to be in excellent agreement with predictions of the effective medium theory on all aspects addressed by the latter. Access times for random walks on these partially disordered structures are compared to those on small-world networks, which on average appear to provide the most effective means of decreasing access times uniformly across the network.Comment: 12 pages, 8 figures; added new results and discussion; added appendix on numerical procedures. To appear in PR

Effects of visual and motion simulation cueing systems on pilot performance during takeoffs with engine failures

Data are presented that show the effects of visual and motion during cueing on pilot performance during takeoffs with engine failures. Four groups of USAF pilots flew a simulated KC-135 using four different cueing systems. The most basic of these systems was of the instrument-only type. Visual scene simulation and/or motion simulation was added to produce the other systems. Learning curves, mean performance, and subjective data are examined. The results show that the addition of visual cueing results in significant improvement in pilot performance, but the combined use of visual and motion cueing results in far better performance