计量经济分析 = Econometric analysis

(2000). Doing research in Business and Management: An Introduction to process and method. European Journal of Information Systems: Vol. 9, No. 3, pp. 201-202.

Doing research in Business and Management: An Introduction to process and method

The Philosophy of Social Science. An Introduction

(2000). The Economics and Management of Intellectual Property: Towards Intellectual Capitalism. Journal of Economic Issues: Vol. 34, No. 4, pp. 988-990.

The Economics and Management of Intellectual Property: Towards Intellectual Capitalism

(1987). Regression Analysis with Applications. Journal of the Operational Research Society: Vol. 38, No. 11, pp. 1091-1092.

https://link.springer.com/content/pdf/10.1057/jors.1987.180.pdf

Regression Analysis with Applications

The study examines the role of government venture funding in facilitating entrepreneurship 
and innovation. In particular, the study integrates financial and behavioural perspectives in a unified 
framework to analyse the determinants and outcomes of innovation investments designed to help 
small firms commercialise their research and development activities. On the one hand, it draws upon 
real options reasoning theory to understand the effects of various resource allocation strategies on 
investment yield and firm performance. On the other hand, it uses signalling theory and the attention-
based view to examine which individual-, project- and firm-level characteristics affect early- and late-
stage funding allocation decisions, and whether these signals are also accurate predictors of 
investment yield and firm performance. To investigate government investment patterns, 367 projects from 275 firms that participated 
in the Small Business Innovation Research (SBIR) programme administered by the National Health 
Institute in the U.S. were analysed over a seven-year period from 2006 to 2012 using a combination 
of statistical and econometric techniques. First, the study finds that the formal real options reasoning (ROR) structure evident in the 
composition and execution of the government venture funding programme is only intuitively 
underpinned by the real options logic of decision-making. The results reveal that high initial funding 
commitment and continuation of government venture funding have a diminishing effect on return on 
investment, whereas consistent matching of funding decisions in line with ROR allows to extract value 
from staged investments. Second, drawing on signalling theory and attention-based view helps 
uncover discrepancies between prescribed and actual investment behaviour. Third, to benefit from 
options-like investments, firms require different combinations of skills and capabilities depending on 
their experience and the target performance outcome. In sum, the study adds to the empirical body of literature analysing the tension between 
economic logic of efficient resource allocation and behavioural and cognitive effects on rational sense-
making. The analysis delineates boundary conditions of real options reasoning in the context of 
government venture funding, which provides important implications for strategic management theory 
and research policy.

Evaluating innovation investment outcomes of government venture funding : a longitudinal, multi-level, multi-source analysis of small firms in the U.S.

Ana Scedrova

Papers

Evaluating innovation investment outcomes of government venture funding : a longitudinal, multi-level, multi-source analysis of small firms in the U.S.