A central part of the innovation process concerns the way firms go about organizing search for new ideas that have commercial potential. New models of innovation have suggested that many innovative firms have changed the way they search for new ideas, adopting open search strategies that involve the use of a wide range of external actors and sources to help them achieve and sustain innovation. Using a large-scale sample of industrial firms, this paper links search strategy to innovative performance, finding that searching widely and deeply is curvilinearly (taking an inverted U-shape) related to performance. Copyright © 2005 John Wiley & Sons, Ltd.

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Open for innovation: the role of openness in explaining innovation performance among U.K. manufacturing firms

Academic management theory has a serious utilization problem. This article argues that it stands a better chance of being adopted for instrumental use if the theory is based on the paradigm of the “design sciences”, like medicine or engineering. Most academic management research is based on the paradigm of the “explanatory sciences”, like physics. The mission of these sciences is to describe, explain and predict, while the core mission of the design sciences is to develop “tested and grounded technological rules”. The paradigm of the design sciences is applied to management research and I discuss the potential of solving its utility problem by combining both types of research.

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Management research based on the paradigm of the design sciences: the quest for field-tested and grounded technological rules

http://impact.cgiar.org/sites/default/files/pdf/141.pdf

The economic benefits of publicly funded basic research: a critical review

This paper presents an initial empirical examination of which start-up signals will induce small investors to commit financial resources in an equity crowdfunding context. We examine the impact of firms’ financial roadmaps (e.g., preplanned exit strategies such as IPOs or acquisitions), external certification (awards, government grants and patents), internal governance (such as board structure), and risk factors (such as amount of equity offered and the presence of disclaimers) on fundraising success. Our data highlight the importance of financial roadmaps and risk factors, as well as internal governance, for successful equity crowdfunding. External certification, by contrast, has little or no impact on success. We also discuss the implications for successful policy design.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2564121_code75390.pdf?abstractid=2564121&mirid=1&type=2

Signaling in Equity Crowdfunding

Modern economic analysis, oriented toward understanding the workings of economies that make extensive use of markets, came into existence with three guiding questions, all central in Adam Smith’s (1776 [1937]) The Wealth of Nations. One question concerned order. Without any central authority guiding and commanding action, how is economic activity coordinated? The second question was the challenge of explaining the prevailing constellation of prices, inputs and outputs. What explains the price of labor and the rent of land? The third question addressed the processes of economic progress, or development. Smith and other early economists clearly were impressed by the inventiveness, the energy and the growing productivity generated by the evolving market economy. How to understand its dynamics? The first two questions have defined continuing central concerns of the discipline of economics since they first were posed over two centuries ago. When not posed in the context of an economy that is understood as in the process of developing, they seem to pull the focus of theorizing toward equilibrium conditions. The third question, concerned with the processes driving economic progress, pulls the theorizing toward an evolutionary orientation. The question of economic development has waxed and waned in centrality to the discipline, as has the importance of evolutionary theorizing. During the first several decades of the twentieth century, evolutionary thinking and language was widespread in economics. But as one contrasts the economic

https://pubs.aeaweb.org/doi/pdfplus/10.1257/0895330027247

Evolutionary theorizing in economics

https://www.uu.nl/sites/default/files/rebo_use_dp_2003_03-18.pdf

Survivor: The Role of Innovation in Firms' Survival

https://isiarticles.com/bundles/Article/pre/pdf/12265.pdf

The fruit flies of innovations: A taxonomy of innovative small firms

This paper examines the effects of innovation on survival using data on all manufacturing firms active in the Netherlands, and the Community Innovation Survey. By estimating a parametric duration model, we show that firms benefit from an innovation premium that extends their life expectancy, independent of firm- specific traits such as age and size. Process innovation in particular seems to have a distinctive effect on survival. Furthermore, survival chances increase with the age and growth rate of a firm, the latter being more crucial than initial size. Finally, high intensity technology sectors are the most favourable to firms survival.

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A matter of life and death: innovation and firm survival

Industrial economics is a rich source of ‘puzzles’ for economic theory. One of them — certainly the most discussed — regards the co-existence of firms (and plants) of different sizes, displaying rather invariant skewed distributions. Other ‘puzzles’, however, concern the sectoral specificities in industrial structures, the persistence of asymmetric corporate performances and the dynamics of entry and exit. The paper reports some preliminary results on evolutionary modeling of the links between the microeconomics of innovation, the patterns of industrial change and some observable invariances in industrial structures.

https://www.jstor.org/stable/pdfplus/40228774.pdf

Learning, market selection and the evolution of industrial structures

Contents: Preface 1. Introduction Part I: Theoretical Background 2. Literature on Industrial Structures and Dynamics 3. Technological Change and Industrial Dynamics 4. Developing an Evolutionary Approach to Industrial Analysis Part II: Learning Regimes and the Nature of Knowledge 5. Technological Regimes 6. Technological Opportunities 7. Technological Entry Barriers 8. Technological Diversity 9. Sources of Knowledge Part III: The Model 10. Structure of the Model 11. Mapping Industrial Dynamics and Technological Change Part IV: Conclusion 12. Summary and Conclusions Bibliography Index

Orietta Marsili

Papers

Survivor: The Role of Innovation in Firms' Survival

The fruit flies of innovations: A taxonomy of innovative small firms

A matter of life and death: innovation and firm survival

Learning, market selection and the evolution of industrial structures

The Anatomy and Evolution of Industries: Technological Change and Industrial Dynamics