An analytical impact assessment was conducted on government R&D subsidies for private firms in Korea using different firm-level data sources. Various methods, including propensity score matching and difference-in-differences, found generally positive impacts of subsidies. Subsidies increased total R&D investment by 98% on average over 4 years but decreased firms' own R&D funding by 11% in the benefit year. Sales growth increased 12% over 4 years on average while profit growth was not significantly impacted. Capital investment and employment each increased by around 12% over 4 years. Subsidies also positively impacted firm survival rates.
it & Economic Performance a Critical Review of the Empirical DataWaqas Tariq
The present study undertakes a critical review of the research around the multi-significant issue of the correlation between the IT investments and the economic performance to both micro and macroeconomic level. The aim of this study is to shed light on the interaction of IT with the economy, at corporate, industry and national level and document it¢ s contribution to productivity and therefore to economic growth. My conclusion is that there is a positive effect of IT investments to both the above economic indicators in all aspects, but is something that needs further research so as to find a more clear and risk adjusted relation.
An Investigation into the Effect of Board Members’ Remuneration on the Perfor...FinancialMarketCorpo
The study focused on the effects of the board members’ remuneration on the performance of public enterprises in Namibia. The main objective of this study was to investigate the interrelationship between board members’
remuneration and the performance of the public enterprises in Namibia. The study used quantitative methods as
a research strategy. The research study used secondary data from the Ministry of public enterprises database and
primary data was gathered through structured questionnaires that were distributed to different public enterprises’
Chief executive officers in Namibia. The study focused on board members’ remuneration as representatives of the
board members for each of the 97 state-owned enterprises in Namibia. The researcher used Excel to do the regression
analysis. The researcher tested for correlation between a firm’s performance and annual salary and sitting allowance
and miscellaneous allowance. Public enterprises are divided into four tiers. The researcher made use of the average
revenue for each tier to represent the firm’s performance. A total of 75% of the respondents do not agree that there is
a relationship between the board members’ remuneration and the firms’ performance, and 17% agree that there is a
relationship between the board members’ remuneration and the firms’ performance. The study recommended that
the MPE/PEs should implement motivational strategies to improve board members’ performance hence improving
the firm’s performance.
Stimulating Entrepreneurship and Innovative SME’s in A National EconomyBIJFMCF Journal
The study was aimed to explore the innovative and inclusive local entrepreneurship and SME development in Namibia. The study used qualitative methods as a research strategy. Meaning qualitative data was collected and analysed using interpretive techniques through the distribution of google form link to SMEs owner in the 14 region of Namibia. The findings of the study revealed that Namibia SMEs’s owner had no knowledge in SMEs networking with other SMEs in the 14 region. The participants further indicated there is no network platform among SMEs in Namibia that share information regarding SMEs growth and development. According to the participants engaged in the study they indicated that since 1990 some are still operating the same way and there is no partnership with other SMEs in the 14 regions of the country since independence. Therefore, the present study recommends that Ministry of trade should come up with strategies and mechanism that can empower SMEs owner to share business ideas, networking and create partnership with other SMEs in the 14 regions of Namibia and the study further recommends that the Ministry of Trade should come up with SMEs annual conference meeting that would enable SMEs owner to attend and share business ideas and be able to compete at global level.
Critical Success Factors for Effective Internal Auditing: A Case of the Offic...FinancialMarketCorpo
The main aim of this study was to investigate on the critical success factors for effective internal auditing.
Internal auditing is the backbone of internal control in an organization. Although challenges exist on internal audit
in the public of sector, there are success factors for effective internal auditing. The investigation mainly focused on
the case at the Office Auditor General that audits all the public sector offices in Namibia.
The Management team and the internal auditors at the office were the source for the required data to the
researcher questionnaires through google form. The study used empirical literature to identify the critical success factors to effective internal auditing function at the Office of Auditor General. The factors were identified
and categorized into models that were developed from the study. The outcomes were presented in frequency
tables and charts obtained from the data analysis. The results of the study show that management support
and good management practice, adequate well-trained and competent internal audit staff, functional board of
directors, internal policies and control are the critical successful factors to effective internal auditing. However,
management support and good management practice play a vital role among the identified factors. The study
recommended that the Office of the Auditor General should support internal auditing roles by facilitating the internal auditing work and recruit more skilled and qualified internal auditors to increase the effectiveness of internal
auditing.
Subsidies for innovative start ups and firm entry - Antonio AccetturoOECD CFE
Presentation by Antonio ACCETTURO, Head, Economic Research Unit, Bank of Italy - Trento branch (Italy) at the 10th Spatial Productivity Lab meeting of the OECD Trento Centre, co-organised with Swedish Entrepreneurship Forum, held in virtual format on 29 October 2020.
More OECD info: https://oe.cd/SPL
More Swedish Entrepreneurship Forum info: https://entreprenorskapsforum.se/en/
Effects of economic incentives on business start ups in the US: County level ...OECD CFE
Presentation by Carlianne PATRICK, Associate Professor
Georgia State University (US) at the 10th Spatial Productivity Lab meeting of the OECD Trento Centre, co-organised with Swedish Entrepreneurship Forum, held in virtual format on 29 October 2020.
More OECD info: https://oe.cd/SPL
More Swedish Entrepreneurship Forum info: https://entreprenorskapsforum.se/en/
An Investigation into the Effect of Board Members’ Remuneration on the Perfor...BIJFMCF Journal
. The study focused on the effects of the board members’ remuneration on the performance of public enterprises in Namibia. The main objective of this study was to investigate the interrelationship between board members’ remuneration and the performance of the public enterprises in Namibia. The study used quantitative methods as a research strategy. The research study used secondary data from the Ministry of public enterprises database and primary data was gathered through structured questionnaires that were distributed to different public enterprises’
Chief executive officers in Namibia. The study focused on board members’ remuneration as representatives of the board members for each of the 97 state-owned enterprises in Namibia. The researcher used Excel to do the regression analysis. The researcher tested for correlation between a firm’s performance and annual salary and sitting allowance and miscellaneous allowance. Public enterprises are divided into four tiers. The researcher made use of the average revenue for each tier to represent the firm’s performance. A total of 75% of the respondents do not agree that there is a relationship between the board members’ remuneration and the firms’ performance, and 17% agree that there is a
relationship between the board members’ remuneration and the firms’ performance. The study recommended that
the MPE/PEs should implement motivational strategies to improve board members’ performance hence improving the firm’s performance.
it & Economic Performance a Critical Review of the Empirical DataWaqas Tariq
The present study undertakes a critical review of the research around the multi-significant issue of the correlation between the IT investments and the economic performance to both micro and macroeconomic level. The aim of this study is to shed light on the interaction of IT with the economy, at corporate, industry and national level and document it¢ s contribution to productivity and therefore to economic growth. My conclusion is that there is a positive effect of IT investments to both the above economic indicators in all aspects, but is something that needs further research so as to find a more clear and risk adjusted relation.
An Investigation into the Effect of Board Members’ Remuneration on the Perfor...FinancialMarketCorpo
The study focused on the effects of the board members’ remuneration on the performance of public enterprises in Namibia. The main objective of this study was to investigate the interrelationship between board members’
remuneration and the performance of the public enterprises in Namibia. The study used quantitative methods as
a research strategy. The research study used secondary data from the Ministry of public enterprises database and
primary data was gathered through structured questionnaires that were distributed to different public enterprises’
Chief executive officers in Namibia. The study focused on board members’ remuneration as representatives of the
board members for each of the 97 state-owned enterprises in Namibia. The researcher used Excel to do the regression
analysis. The researcher tested for correlation between a firm’s performance and annual salary and sitting allowance
and miscellaneous allowance. Public enterprises are divided into four tiers. The researcher made use of the average
revenue for each tier to represent the firm’s performance. A total of 75% of the respondents do not agree that there is
a relationship between the board members’ remuneration and the firms’ performance, and 17% agree that there is a
relationship between the board members’ remuneration and the firms’ performance. The study recommended that
the MPE/PEs should implement motivational strategies to improve board members’ performance hence improving
the firm’s performance.
Stimulating Entrepreneurship and Innovative SME’s in A National EconomyBIJFMCF Journal
The study was aimed to explore the innovative and inclusive local entrepreneurship and SME development in Namibia. The study used qualitative methods as a research strategy. Meaning qualitative data was collected and analysed using interpretive techniques through the distribution of google form link to SMEs owner in the 14 region of Namibia. The findings of the study revealed that Namibia SMEs’s owner had no knowledge in SMEs networking with other SMEs in the 14 region. The participants further indicated there is no network platform among SMEs in Namibia that share information regarding SMEs growth and development. According to the participants engaged in the study they indicated that since 1990 some are still operating the same way and there is no partnership with other SMEs in the 14 regions of the country since independence. Therefore, the present study recommends that Ministry of trade should come up with strategies and mechanism that can empower SMEs owner to share business ideas, networking and create partnership with other SMEs in the 14 regions of Namibia and the study further recommends that the Ministry of Trade should come up with SMEs annual conference meeting that would enable SMEs owner to attend and share business ideas and be able to compete at global level.
Critical Success Factors for Effective Internal Auditing: A Case of the Offic...FinancialMarketCorpo
The main aim of this study was to investigate on the critical success factors for effective internal auditing.
Internal auditing is the backbone of internal control in an organization. Although challenges exist on internal audit
in the public of sector, there are success factors for effective internal auditing. The investigation mainly focused on
the case at the Office Auditor General that audits all the public sector offices in Namibia.
The Management team and the internal auditors at the office were the source for the required data to the
researcher questionnaires through google form. The study used empirical literature to identify the critical success factors to effective internal auditing function at the Office of Auditor General. The factors were identified
and categorized into models that were developed from the study. The outcomes were presented in frequency
tables and charts obtained from the data analysis. The results of the study show that management support
and good management practice, adequate well-trained and competent internal audit staff, functional board of
directors, internal policies and control are the critical successful factors to effective internal auditing. However,
management support and good management practice play a vital role among the identified factors. The study
recommended that the Office of the Auditor General should support internal auditing roles by facilitating the internal auditing work and recruit more skilled and qualified internal auditors to increase the effectiveness of internal
auditing.
Subsidies for innovative start ups and firm entry - Antonio AccetturoOECD CFE
Presentation by Antonio ACCETTURO, Head, Economic Research Unit, Bank of Italy - Trento branch (Italy) at the 10th Spatial Productivity Lab meeting of the OECD Trento Centre, co-organised with Swedish Entrepreneurship Forum, held in virtual format on 29 October 2020.
More OECD info: https://oe.cd/SPL
More Swedish Entrepreneurship Forum info: https://entreprenorskapsforum.se/en/
Effects of economic incentives on business start ups in the US: County level ...OECD CFE
Presentation by Carlianne PATRICK, Associate Professor
Georgia State University (US) at the 10th Spatial Productivity Lab meeting of the OECD Trento Centre, co-organised with Swedish Entrepreneurship Forum, held in virtual format on 29 October 2020.
More OECD info: https://oe.cd/SPL
More Swedish Entrepreneurship Forum info: https://entreprenorskapsforum.se/en/
An Investigation into the Effect of Board Members’ Remuneration on the Perfor...BIJFMCF Journal
. The study focused on the effects of the board members’ remuneration on the performance of public enterprises in Namibia. The main objective of this study was to investigate the interrelationship between board members’ remuneration and the performance of the public enterprises in Namibia. The study used quantitative methods as a research strategy. The research study used secondary data from the Ministry of public enterprises database and primary data was gathered through structured questionnaires that were distributed to different public enterprises’
Chief executive officers in Namibia. The study focused on board members’ remuneration as representatives of the board members for each of the 97 state-owned enterprises in Namibia. The researcher used Excel to do the regression analysis. The researcher tested for correlation between a firm’s performance and annual salary and sitting allowance and miscellaneous allowance. Public enterprises are divided into four tiers. The researcher made use of the average revenue for each tier to represent the firm’s performance. A total of 75% of the respondents do not agree that there is a relationship between the board members’ remuneration and the firms’ performance, and 17% agree that there is a
relationship between the board members’ remuneration and the firms’ performance. The study recommended that
the MPE/PEs should implement motivational strategies to improve board members’ performance hence improving the firm’s performance.
Despite the large investments in the field of e-Government (e-Gov) around the world, little is known about the impact such investment. This is due to the lack of guidance evaluation, absence of appropriate tools to
measure the impact of e-Gov on the private sector, as well as the lack of effective management to resolve or eliminate the barriers to e-Gov services that led to the failure or delay of many projects. This paper is primarily concerned in determining the impact of e-Gov services on the private sector. A combination of Modified Technology Acceptance Model (TAM), DeLone and McLean's of IS success will be utilized as a research model and e-Gov Economics Project (eGEP) framework to measure “Efficiency, Democracy
& Effectiveness impact” for G2B services. The research result will help e-Gov decision makers to recognize the critical factors that are responsible for G2B success, specifically factors they need to pay attention to gain the highest return on their technology investment, hence enabling them to measure the impact for e-Gov on the private sector. The paper has also demonstrated the usefulness of Structural
Equation Modeling (SEM) in analysis of small data sets and in exploratory research.
eGovernment measurement for policy makersePractice.eu
Author: Jeremy Millard.
The eGovernment policy focus has moved over the last five years from being mainly concerned with efficiency to being concerned both with efficiency and effectiveness. This paper examines the current and future development of eGovernment policy making, and the critical role that measurement and impact analysis has in it.
Whitepaper: Patent strategies in the 2012 economic environmentSagentia
Difficulties and changes in the macro-economic climate have forced companies to alter the way they carry out their research and development. This, in turn, has had an effect on the approach of many organisations to intellectual property.
http://www.sagentia.com/IP
Contract management practice is a vital aspect in any organization that intends to gain a competitive advantage and value for money. In public organizations, every year a major portion of budget allocation is given for procurement of goods and services for various kinds of projects to be done. The study focused on the effect of monitoring intensity on procurement performance of public organizations in Elgeyo Marakwet County. The study was guided by relational contract theory and principal-agent theory. It adopted a descriptive study design utilizing questionnaires as the primary data collection tool. The staff from finance and procurement departments in the County government formed the study’s unit of analysis. The sample for the study was procurement officers and finance officers. It also adopted census sampling on all the target respondents. A pilot study was done in Uasin Gishu County Government. The computer programme Statistical Package for Social Sciences (SPSS) version 22.0 aided in data analysis. Data was analyzed using Quantitative data analysis with both descriptive and inferential statistics. Descriptive statistics like frequencies, percentages, means and cross tabulation will be used while multiple regressions will be used to test the hypothesis. Presentation of finding done using questionnaires which was coded, organized, analyzed and presented using frequency tables, and percentages. The study found that the organization was able to practice monitoring intensity with the view to enhance procurement performance. The results established a positive but weak correlation between the variables (P= 0.288, r=.057). The strength of association was weak. The study concluded that monitoring intensity was a factor that influences procurement performance in organizations. However it was noted that other factors were needed to support this practice. It was recommended that contractors should be allocated with the right amount of resources to complete the projects assigned to them.
Not only in Vietnam’s bond market, but in the world, green bond is considered to be a useful tool for
the businesses to mobilize capital for the benefits of the environment and society. According to opinions from
experts
M. Grazzi, G. Domini, D. Moschella, T. Treibich, 30 Novembre - 1 Dicembre 2021 -
Webinar: I cambiamenti strutturali: imprese, digitalizzazione, produttività, cultura e turismo
Titolo: L'impatto dell'automazione su diseguaglianze salariali e di genere: una analisi a livello di impresa
HYBRID ROLE OF SOFT INNOVATION RESOURCES: FINLAND’S NOTABLE RESURGENCE IN THE...IJMIT JOURNAL
Finland and Singapore are easy to compare, they are the same size and have similar positions as global digital leaders. however, their performance is differing a lot. from 2006 to 2013, Singapore’s GDP growth rate was tenfold compared to Finland. four years later, in 2017 Finland is exceeding the growth rate of
Singapore. what are the reasons for the success of Finland? An empirical analysis of the factors contributing to GDP growth and the effects of the policy change was conducted. It was demonstrated that increase of export did not explain growth, but shifts in capital formation did. New dynamics was revealed that was triggered by the removal of structural impediments (hindrances) and by increasing use of soft innovation
resources. The virtuous cycle of increase of uncaptured GDP, increased multifactor productivity and growth of tangible capital and GDP was described. An insightful suggestion for activating a hybrid role for soft innovation resources in the digital economy was thus provided.
Marco Manzo and Alessandro Modica - Finance Dept. - Italy
Giancarlo Infantino - Treasury Dept. - Italy, OECD Global Forum on Productivity – October UK Workshop - London, 14 October 2016
Big Data Update - MTI Future Tense 2014Hawyee Auyong
The Futures Group first wrote about the emerging phenomenon of Big Data in 2010 as it was about to enter the mainstream. It was envisaged that Big Data would create a demand for new skills (Google has identified statisticians as the “sexy job of the decade”) and generate new industries. This report updates on the industry value chain and business models for the data analytics industry, latest developments as well as the opportunities for Singapore.
Despite the large investments in the field of e-Government (e-Gov) around the world, little is known about the impact such investment. This is due to the lack of guidance evaluation, absence of appropriate tools to
measure the impact of e-Gov on the private sector, as well as the lack of effective management to resolve or eliminate the barriers to e-Gov services that led to the failure or delay of many projects. This paper is primarily concerned in determining the impact of e-Gov services on the private sector. A combination of Modified Technology Acceptance Model (TAM), DeLone and McLean's of IS success will be utilized as a research model and e-Gov Economics Project (eGEP) framework to measure “Efficiency, Democracy
& Effectiveness impact” for G2B services. The research result will help e-Gov decision makers to recognize the critical factors that are responsible for G2B success, specifically factors they need to pay attention to gain the highest return on their technology investment, hence enabling them to measure the impact for e-Gov on the private sector. The paper has also demonstrated the usefulness of Structural
Equation Modeling (SEM) in analysis of small data sets and in exploratory research.
eGovernment measurement for policy makersePractice.eu
Author: Jeremy Millard.
The eGovernment policy focus has moved over the last five years from being mainly concerned with efficiency to being concerned both with efficiency and effectiveness. This paper examines the current and future development of eGovernment policy making, and the critical role that measurement and impact analysis has in it.
Whitepaper: Patent strategies in the 2012 economic environmentSagentia
Difficulties and changes in the macro-economic climate have forced companies to alter the way they carry out their research and development. This, in turn, has had an effect on the approach of many organisations to intellectual property.
http://www.sagentia.com/IP
Contract management practice is a vital aspect in any organization that intends to gain a competitive advantage and value for money. In public organizations, every year a major portion of budget allocation is given for procurement of goods and services for various kinds of projects to be done. The study focused on the effect of monitoring intensity on procurement performance of public organizations in Elgeyo Marakwet County. The study was guided by relational contract theory and principal-agent theory. It adopted a descriptive study design utilizing questionnaires as the primary data collection tool. The staff from finance and procurement departments in the County government formed the study’s unit of analysis. The sample for the study was procurement officers and finance officers. It also adopted census sampling on all the target respondents. A pilot study was done in Uasin Gishu County Government. The computer programme Statistical Package for Social Sciences (SPSS) version 22.0 aided in data analysis. Data was analyzed using Quantitative data analysis with both descriptive and inferential statistics. Descriptive statistics like frequencies, percentages, means and cross tabulation will be used while multiple regressions will be used to test the hypothesis. Presentation of finding done using questionnaires which was coded, organized, analyzed and presented using frequency tables, and percentages. The study found that the organization was able to practice monitoring intensity with the view to enhance procurement performance. The results established a positive but weak correlation between the variables (P= 0.288, r=.057). The strength of association was weak. The study concluded that monitoring intensity was a factor that influences procurement performance in organizations. However it was noted that other factors were needed to support this practice. It was recommended that contractors should be allocated with the right amount of resources to complete the projects assigned to them.
Not only in Vietnam’s bond market, but in the world, green bond is considered to be a useful tool for
the businesses to mobilize capital for the benefits of the environment and society. According to opinions from
experts
M. Grazzi, G. Domini, D. Moschella, T. Treibich, 30 Novembre - 1 Dicembre 2021 -
Webinar: I cambiamenti strutturali: imprese, digitalizzazione, produttività, cultura e turismo
Titolo: L'impatto dell'automazione su diseguaglianze salariali e di genere: una analisi a livello di impresa
HYBRID ROLE OF SOFT INNOVATION RESOURCES: FINLAND’S NOTABLE RESURGENCE IN THE...IJMIT JOURNAL
Finland and Singapore are easy to compare, they are the same size and have similar positions as global digital leaders. however, their performance is differing a lot. from 2006 to 2013, Singapore’s GDP growth rate was tenfold compared to Finland. four years later, in 2017 Finland is exceeding the growth rate of
Singapore. what are the reasons for the success of Finland? An empirical analysis of the factors contributing to GDP growth and the effects of the policy change was conducted. It was demonstrated that increase of export did not explain growth, but shifts in capital formation did. New dynamics was revealed that was triggered by the removal of structural impediments (hindrances) and by increasing use of soft innovation
resources. The virtuous cycle of increase of uncaptured GDP, increased multifactor productivity and growth of tangible capital and GDP was described. An insightful suggestion for activating a hybrid role for soft innovation resources in the digital economy was thus provided.
Marco Manzo and Alessandro Modica - Finance Dept. - Italy
Giancarlo Infantino - Treasury Dept. - Italy, OECD Global Forum on Productivity – October UK Workshop - London, 14 October 2016
Big Data Update - MTI Future Tense 2014Hawyee Auyong
The Futures Group first wrote about the emerging phenomenon of Big Data in 2010 as it was about to enter the mainstream. It was envisaged that Big Data would create a demand for new skills (Google has identified statisticians as the “sexy job of the decade”) and generate new industries. This report updates on the industry value chain and business models for the data analytics industry, latest developments as well as the opportunities for Singapore.
An Empirical Analysis of Relationship between Private Equity Investments and ...Dr. Amarjeet Singh
During the last decade the growth in the private
equity industry in India has been phenomenal, especially in
the recent five years. Private equity industry has become the
prime interest area for many researchers and academicians in
India. Private equity industry in India is burgeoning area of
research, which inherits many explorations and untapped
potential areas of research. One such untapped area of
research is the empirical research is relationship between
Private equity investments and exits in India. The research
question which has leaded the study is that Private equity
industry being in its transition stage, does the performance
and opportunities created by the early starters has proven the
potential and invites more investors and investments? In this
line, this study is an attempt to assess the interrelationship and
causal effect in the relationship using VECM (Vector Error
Correction Model) and Granger causality model. The results
of the study confer that existence of long run causal relation
between Private Equity Investments and Private Equity Exits.
Thereby, the study emphasis the impact of private equity exits
on private equity investments in India. Private Equity Exit
opportunities for the investments made plays crucial role in
attracting Private Equity investments in India.
According to the literature on innovation, several vital factors or determinants favor innovation in companies. In the case of R&D, significant advances have been made in the last two decades, which have enriched our understanding of its impact on various innovation outcomes. However, due to a lack of data availability, its study is difficult to address in emerging markets. This is why, using microdata from 5588 firms, we investigate the relationship between R&D investment and the impact on product and process innovations in different Latin American countries.
Demand for evaluation services is growing in the impact investing industry. Yet, much of the evaluation community remains unaware of the industry and its performance assessment requirements. This paper proposes five channels, or doorways, through which professional evaluators can learn about and engage with the field of impact investing.
Demand for evaluation services is growing in the impact investing industry. Yet, much of the evaluation community remains unaware of the industry and its performance assessment requirements. This paper proposes five channels, or doorways, through which professional evaluators can learn about and engage with the field of impact investing.
Week 6 Post Menopausal and Sexuality Issues in the Maturing and O.docxhelzerpatrina
Week 6: Post Menopausal and Sexuality Issues in the Maturing and Older Adult Discussion
No unread replies. No replies.
Students will not receive credit for any discussions posted after Sunday 11:59pm MT.
Ageism and gender bias can affect who and how we ask about sexual health, sexual activity, and concerning symptoms. Depending on your own level of comfort and cultural norms this can be a tough conversation for some providers. But this is an important topic and as our videos discussed, women are wanting us to ask about sexual concerns. This week we also reviewed sexually transmitted diseases and the effects of ageism on time to diagnosis so it is necessary to ask these questions and provide good education for all patients. You will not know any needs unless you ask.
Discussion Questions:
· Review the required NAMS videos. What was the most surprising thing you learned about in the videos? Explain why it was surprising.
· What is GSM? What body systems are involved? How does this affect a woman's quality of life?
· What treatment does Dr Shapiro recommend?
· Review one aspect of treatment that Dr Shapiro recommends and include an EBP journal article or guideline recommendation in addition to referencing the video in your response.
Sexuality and the older adult
· What is your level of comfort in taking a complete sexual history? Is this comfort level different for male or female patients? If so, why?
· How will this information impact the way you will interact with your mature and elderly clients?
RESEARCH NOTE
HOW INFORMATION TECHNOLOGY STRATEGY AND
INVESTMENTS INFLUENCE FIRM PERFORMANCE:
CONJECTURE AND EMPIRICAL EVIDENCE1
Sunil Mithas and Roland T. Rust
Robert H. Smith School of Business, University of Maryland,
College Park, MD 20742 U.S.A. {[email protected]} {[email protected]}
In this paper, we develop conjectures for understanding how information technology (IT) strategy and IT
investments jointly influence profitability and the market value of the firm. We view IT strategy as an expres-
sion of the dominant strategic objective that the firm chooses to emphasize, which can be revenue expansion,
cost reduction, or a dual emphasis in which both goals are pursued. Using data from more than 300 firms in
the United States, we find that at the mean value of IT investments, firms with a dual IT strategic emphasis have
a higher market value as measured by Tobin’s Q than firms with a revenue or a cost emphasis, but they have
similar levels of profitability. Of greater importance, IT strategic emphasis plays a significant role in moder-
ating the relationship between IT investments and firm performance. Dual-emphasis firms have a stronger
IT–Tobin’s Q relationship than revenue-emphasis firms. Dual-emphasis firms also have a stronger IT–
profitability relationship than either revenue- or cost-emphasis firms. Overall, these findings imply that, at low
levels of IT investment, the firm may need to choose between revenue expansion ...
This Working Paper was published by United Nations University Maastricht Economic and social Research Institute on Innovation and Technology (UNU-MERIT). It seeks to provide insights about the main characteristics of innovative firms and to gather new evidence with regard to the nature of the innovation process in the Latin American and Caribbean region. This Paper analyses data from a number of CARICOM countries.
Effect of Voluntary Disclosure on Corporate Performance of Quoted Manufacturi...ijtsrd
The objective of the study is to examine the effect of voluntary disclosure on corporate performance of quoted manufacturing companies in Nigeria. The study specifically examined the effect of voluntary disclosure on ROA, ROE, and NPM. The population of the study was drawn from manufacturing firms quoted on the floor of the Nigerian Stock Exchange. financial year. The study was based on secondary sources of data, collected from annual financial reports. The study used content analysis to analyse the voluntary disclosure items. The study finds that voluntary disclosure has a significant negative effect on profitability return on assets, return on equity and net profit margin . The study therefore recommends, among others, manufacturing firms to enhance voluntary disclosure based on a cost benefit analysis of such, and also, help “bridge the gap†between financial numbers and the true economics underlying the company’s transaction. Voluntary disclosure is also recommended as a medium to curtail the shenanigans of earnings management. Ikemefuna, Victor C. | Onuora, J. K. "Effect of Voluntary Disclosure on Corporate Performance of Quoted Manufacturing Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42600.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42600/effect-of-voluntary-disclosure-on-corporate-performance-of-quoted-manufacturing-companies-in-nigeria/ikemefuna-victor-c
The mediating effect of the information systems use on the relationship betwe...IJAEMSJORNAL
In recent years, research work has increasingly taken a new direction, allowing the analysis of certain intangible factors, in particular information and economic intelligence. On the other hand, at the strategic level, economic information management has become one of the essential drivers of the global performance of companies and nations. To keep abreast of changes, and to contribute to theoretical and practical debates, through our contribution we will try to analyze the relationships which exists between the economic intelligence practices and performance, and then propose a conceptual framework
In March 2019, the Korea of Minister of Strategy and Finance announced a strategy to spread the
second venture boom in cooperation with relevant ministries. You can start high-tech innovation start-ups by
strengthening your business
In this year's 10th anniversary of the Global Innovation 1000 study, we looked back at a decade's worth of data on R&D spending patterns and surveys of innovation executives, and we looked ahead to the next decade, asking our respondents how they expect their innovation practices to evolve. We've identified the core strategies that can improve a company's return on its R&D investment--and we've witnessed some convergence around the key success factors that drive results. For more information, visit: http://strat.bz/gap6jsj
The Role of Financial Technologies in the Global Economyijtsrd
The article analyses the global trends in the development of financial technologies, and their role in the development of global economy. We tried to research the existing trends in the development of financial sector and highlight the nature of the new coming innovations. Taniev A. B "The Role of Financial Technologies in the Global Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | Modern Trends in Scientific Research and Development, Case of Asia , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35768.pdf Paper Url :https://www.ijtsrd.com/economics/financial-economics/35768/the-role-of-financial-technologies-in-the-global-economy/taniev-a-b
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100-hwang Impact assessment of R&D subsidies on input additionality and firms performance using firm level data: The Korean case
1. An analytical impact assessment of government R&D subsidy for private firms in Korea was con-
ducted using different kinds of firm level data beyond CIS (community innovation survey) by the
Oslo manual.
Korean government built a data management system called NTIS (National Science and Technol-
ogy Information Service) in which all of detailed information of each public programs and projects
including R&D subsidies for firms has been collected for decades. We used the datasets from
NTIS and Frascati manual, combining them with an external DB of financial statements, in order
to assess the impacts of R&D subsidy on the additionality and performance of the firms that bene-
fited.
Various methods including PSM (Propensity Score Matching), DID (Difference in Differences) and
other econometric models were utilized in order to obtain results as robust as possible.
The impact of R&D subsidy on total R&D investment of firms is clearly positive for beneficiaries
with 98% additional accumulative increase after 4 years in average. Regarding own funding of
R&D investment, however, the result shows negative impact of R&D subsidy by 11% less of an in-
vestment compared to non-supported firms in the benefit year.
Impact of R&D subsidy on sales growth is positive by 12% additional increase after 4 years accu-
mulation on average; however, the result does not show any statistically significant impact on
profit growth for beneficiaries
Impact on capital investment and employment are positive by 12% and 11% additional increase
respectively after 4 years accumulation. The impact on firms’ survival is obviously positive by 57%
decrease in hazard rate for R&D subsidy beneficiaries.
Impact Assessment of R&D Subsidy on Input Additionality and
Firms’ Performance Using Firm Level Data: the Korean Case
Seogwon Hwang*, Seung-Hwan Oh, Hee-Jong Kang, Justine Kim
OECD BLUE SKY III, 19-21 SEPTEMBER, GHENT, BELGIUM
* hsw100@stepi.re.kr; STEPI, Sejong National Research Complex, 370 Sicheong-daero, Sejong-si, 30147 Korea stepi.re.kr
ABSTRACT
STEPI developed a framework that allows systematic assessment of STI policies’
economic and societal impact and also proposed an appropriate process in doing
such assessments in the future.
Overall framework consists of economic impact and societal impact, where eco-
nomic impact is then divided into microscopic and macroscopic perspectives.
Among them, we conducted the microscopic economic impact assessment as a
pilot analysis. The results are thoroughly described in the following section.
IMPACT ASSESSMENT PROCESS
Microscopic Economic Impact of R&D Subsidy
An analytical impact assessment of government R&D subsidy for private firms in Korea was
conducted using different kinds of firm level data beyond CIS (community innovation survey)
by the Oslo manual.
After the Blue-sky conference 2006 held in Ottawa, ‘OECD Innovation Microdata Project’ was
launched and produced many implications for evidence based STI policies using firm level mi-
cro-data. The micro data used for the project mainly came from CIS, which includes some indi-
cators for innovation outputs. Detailed information of public support for firms in terms of direct
R&D subsidy, which just come from the governmental accounting system, is another very con-
crete data source. Korean government built a data management system called NTIS (National
Science and Technology Information Service) in which all of detailed information of each public
programs and projects including R&D subsidies for firms has been collected for decades. We
used the datasets from NTIS and Frascati manual, combining them with an external DB of
financial statements, in order to assess the impacts of R&D subsidy on the additionality and
performance of the firms that benefited.
The analysis of R&D investment additionality includes the behavior of so called ‘zombie com-
panies’ which has recently emerged as a big problem in the Korean economy. It is expected
that combining public data sources such as NTIS and survey data by Frascati manual with ex-
ternal sources such as financial statements DB would give much opportunity for impact as-
sessment in the future, contributing to the evidence base of STI policies.
Various methods including PSM (Propensity Score Matching), DID (Difference in Differences)
and other econometric models were utilized in order to obtain results as robust as possible.
The impact of R&D subsidy on total R&D investment of firms is clearly positive with 98% addi-
tional increase accumulatively after 4 years for beneficiaries on average (Hwang et al., 2016).
Regarding own funding of R&D investment, however, the results show negative impact of R&S
subsidy by 11% less investment compared to non-supported firms in the benefit year (Hwang
et al., 2016). The impact of R&D subsidy on so called ‘zombie companies’, which are defined
by low profitable companies with TIE (Times Interest Earned) below 1 for 3 consecutive years,
is very noticeable. Total R&D investment containing both of own funding and subsidy does not
increase for very severe ‘zombie companies’ with TIE below 1 for 5 consecutive years, which
means that those firms misuse R&D subsidy for other purposes than R&D activity (Kang and
Hwang, 2016).
Regarding other input additionality of beneficiary firms, the result shows positive impact on
capital investment and employment by 12% and 11% additional increase respectively after 4
years accumulation (Hwang et al., 2016). The impact on firms’ survival is obviously positive by
57% decrease in hazard rate for R&D subsidy beneficiaries (Kim and Hwang, 2016).
One of the most important impact goals might be the performance of benefited firms, so we
analyzed two representative indicators of growth and profitability. Impact of R&D subsidy on
sales growth is positive by 12% additional increase after 4 years accumulation on average;
however, the result does not show any statistically significant impact on profit growth for bene-
ficiaries (Hwang et al., 2016).
PILOT ANALYSIS
Why is the impact assessment of STI (Science and Technology Innovation) policies important?
Since the global financial crisis of 2008, world economy has been suffering from uncertainties
and low-growth. Several countries including Korea are facing budget limitation for R&D invest-
ment, whereas people expect to benefit more economically and socially from STI investments
of their countries. In order to meet these people’s expectations, countries around the world are
endeavoring in designing novel STI policies that would allow STI investments to yield greater
economic and societal impacts. In doing so, ‘impact assessment’ is an essential part of the
policy infrastructure.
In order for the STI impact assessment to be properly executed, an extensive number of data
(big-data level) is required, and methodologies must be improved as well. It is also suggested
that the cooperation of many countries, centering on OCED countries, is needed. Such issue
was discussed as one of the main agenda in OCED World Science & Technology Forum that
was held in Daejeon, South Korea in 2015.
FIGURE 1
source: modified by the authors based on EC(1997)
INTRODUCTION STI Policy Demand
Efficiency Evaluation
Effectiveness Evaluation
Impact Assessment or Impact Evaluation
Evaluation
Societal Needs,
Government Initiatives
Result
- initial impact
- achievement of clearly
described goals
Outcomes
Economic, Societal and
Academic Longer-Term
Impact
Objectives
Input
- R&D funds
- Human Capital
- Time
Planning and
Implementation
Output
- Papers
- Patents
- Prototype
- Design (Theory)
- Development
(Experiments)
- Testing
- Project Management
R&D Process
- Commercialization
- Technology Transfer
Application
Process
Data Collection / DB
Microscopic Economic Impact
Assessment Process
Macroscopic Economic Impact
1st stage
Linked with enterprise DB
R&D project Information
- funding size, etc.
R&D stock
Physical capital stock
Employment
Trade (incl. technology trade)
Education investment
Output data (NTIS)
- academic papers
- patents, etc.
Linked with enterprise DB
Innovation policy measures
Information
- financial support for SMEs
- tax benefits
- public procurement
2nd stage
Indicators and Statistics
Areas of Societal Impacts
1st stage
Collecting indicators and
statistics related to societal
impacts
Income / Wealth
Work
Health
Relationship
Political / Societal
activities
Transaction
Education
Food / Clothing and Housing
Safety
Government Service
Environment / Energy
Leisure
Locomotion
Social Problems in
real and virtual spaces
- employment
- entrepreneurship
- start-ups
- scale-up
- zombie companies
- reunification economy
- creative economy, etc.
Survey for industrial leaders
and/or the public on societal
impacts from STI policies
2nd stage
Planning for Impact Assessment
Assessing Economic/Societal Impacts
Economic impact analysis based on econometirc models
Societal impact assessment by the expert panel
Suggestions for improving policy implementation processes
Suggestions for policy measures to enhance economic / societal
impacts
Reporting Process
Implementing New Policy Measures
New measures to improve policy design, implementation, evalua-
tion processes
New policy measures to enhance economic and societal impacts of
STI policies
Reporting to NSTC (National S&T Committee) in January next year
NSTC decision for measures to improve policy processes
NSTC decision for policy measures to enhance economic and
societal impacts
To start in January for preparing next year’s budget decision making
Time schedule for impact assessment in detail
Main issues at that time
Selection of programs
Impact Assessment
of STI Policies
Classification
Growth
Sales Growth Rate
ATT (Average Treatment Effect on the Treated)
A Year
Later
Two Years
Later
Three Years
Later
Four Years
Later
Asset Growth Rate
Debt Growth Rate
Growth Rate of Employee
R&D Growth Rate
Growth in R&D per Sale
ROA Growth
ROE Growth
Profit Growth
Labor Productivity Growth
Growth Rate in R&D per personInnovativeness
Profitability
STI Policy
Evaluation
Subject
Post
Management
Methodology
Pre vs Post
Evaluation
Tone of
Policies
Evaluation
Category
Background
Focus
R&D programs Technology
R&D Management S&T Regulation
Technological Risk
Regulation Set-up
Qualitative Analysis
Budget Allocation
Post < PrePost ~ PrePost > Pre
ReflectiveManagerialProactive
STI Promotion
Impacts of STI policy
Economic / Societal
Positive Impact
Betterment of existing
policies and establishment
of new policies
Level1: Quantitative or
Econometric Analysis
Level2: Qualitative Analysis
Excellence of
R&D Outputs
Peer review and index-
based evaluation
Outputs of
R&D Programs
Social / Environmental
Negative Impact
Usual R&D
Evaluation
Technology
Assessment
TABLE 1
How Is Impact Assessment Different from
Usual R&D Evaluation or Technology Assessment
FIGURE 2
Impact Assessment Process Suggested
REFERENCES
We believe the results of pilot analysis on impact assessment of R&D
subsidies in Korea using combined datasets from NTIS, surveys by
Frascati manual and a commercial DB of financial statements would con-
tribute to the issues of 2016 Blue-sky conference such as ‘key lessons
after 10 years of science for science and innovation policy initiatives’, ‘in-
teraction and impact of STI policies’, ‘new data infrastructures for the
analysis of science and innovation’ and ‘the integration of STI statistics
and other statistical frameworks’.
There are many issues on firm level impact assessment not yet fully ana-
lyzed in our study [Figure 3]: The impact of R&D subsidy on productivity
and the relationship between productivity and profitability, knowledge
flow from universities and GRIs which might imply the impact of public re-
search investment on firms’ performance, impact on scale-up and over-
seas market performance of benefited firms, etc., all of which are possibly
future topics for our ongoing impact assessment study.
Although not mature enough, impact assessment of STI policies should
cover the impacts not only on economic growth and industrial competi-
tiveness but also on our life, jobs and sustainability in the future. Data
coverage should be extended wide into various STI policy areas including
not only R&D subsidies, but also tax benefits for firms, supporting pro-
grams by government procurement, loans and/or equity investments for
innovation from public financial institutes and so on.
(1)
(2)
(3)
(4)
(5)
EC, Evaluation EU Expenditure Programmes: A
Guide. Ex post and Intermediate Evaluation,
1997
Hwang S., Kang H. J., Oh S. H., Lee S. Y., Kim Y.
H., Jung J. H., Lee S. W. and Kim K. H., 2016, A
study on the construction of economic and soci-
etal impact assessment framework of national
R&D investment, policy report supported by
MSIP, STEPI (in Korean)
Kang H. J. and Hwang S., 2016, Impact of R&D
Subsidy on R&D Investment additionality of
Firms, STEPI working paper (in Korean)
Kim K. H. and Hwang S., 2016, Impact of Devel-
opment Subsidy on Firms’ Survival, STEPI work-
ing paper (in Korean)
OECD, 2009, Innovation in Firms: A microeco-
nomic perspective
CONCLUSION
Research Objective:
Analyzing the impact of R&D subsidy on the performance of private firms
Methodology:
Propensity Score Matching (PSM)
Results:
- Beneficiary firms showed greater performance in growth and funding ability 4 years
after receiving the subsidy, compared to those that did not receive.
- Whereas, no clear evidence of profitability growth of beneficiary firms 4 years later.
PSM APPROACH
Research Objective:
The impact of government R&D subsidy on the firms’ own R&D activities/investment was analyzed.
Models:
The dependent variable refers to log-value of R&D expense of firm in year . The dummy variable refers to whether or not
firm received government R&D subsidy in the given year (if yes = 1). Variable refers to the size of firm in year , where big-size=1,
mid-small size=2, and venture firm=3. Variable refers to the type of business (manufacturing=1, service=2, construction=3, etc=4).
Results:
Firms that received the government R&D subsidy in year showed smaller self-investment in R&D in year than those that did not receive the subsidy.
- As the result of Model 1, the result through DID analysis method showed that the firms that received the government R&D subsidy in year showed
smaller self-investment in R&D in year than those that did not receive the subsidy.
- Firms that received government R&D subsidy in year invested a greater amount in R&D in year than those that did not receive the subsidy.
ECONOMETRIC APPROACH
, 0 1 , 1 2 , 1 3 , 1 ,
4 , , ,
ln ln tititititi
i t i t i t
SelfRD SelfRD DumGRD DumGRD DumGRDβ β β β −−−= + + + g
nlnlnl titititititi −+
t t
t
t
t 1t +
,ln i tSelfRD i t DumGRD
i ,i tSize i t
,i tSector
(2-1)
(2-2)
Coefficient
Dependent
Variable
Major
Independent
Variable
Model 1
Model 2-1
Model 2-2
-0.1220 *
: Negative **
: Positive **
TABLE 3
,ln i tSelfRD
,ln i tSelfRD
TABLE 2
1.88
2.83
2.19
3.36
35.7
21.1
-1.46
0.83
17.6
7.62
0.007
**
***
***
***
***
***
**
4.18
6.15
5.63
8.06
58.2
32.3
2.58
2.45
119.1
4.26
-0.16
***
***
***
***
***
***
***
**
*
6.57
6.78
7.61
9.22
81.8
42.7
-4.19
-0.75
0.46
5.74
-0.001
***
***
***
***
***
***
12.1
10.75
11.9
14.37
97.9
35.4
-21.2
-0.32
-2.7
10.24
0.005
***
***
***
***
***
***
*
**
Pubic R&D
Investment
Impact on
Input Additionally
Impact on
Performance
Public Research Institutes,
Universities
3.7% annual growth(quantitative: no. of SCI papers)
6.0% annual growth(qualitative: average Impact factor)
11.9% additional increase
after 4 years
10.8% additional increase
after 4 years
12.1% additional increase
after 4 years
impact on total R&D investment of firms
- 97.9% additional increase after 4 years
- elasticity 0.21
impact on self funding of R&D investment of firms
- 11% less investment compared to non supported firms in that year
Impact of subsidy
to development cost:
decrease in hazard rate 57.7%
R&D Subsidy for firms
Academic Research Impacts
R&D Investment
Capital Investment
Employment
Pilot Results Positive
Knowledge Capital
Stock
Physical Capital
Stock
Labor Force
Survival
in the Market
Impacts on Human Capital
Productivity
Production
Growth
=
Quantitative
Growth
Profit
Growth
=
Qualitative
Growth
Innovation Activity
Scale-up
Going to Global
Market
Not PositiveFuture Research
FIGURE 3
Impact(effects on society)