In this paper it is shown that the intense focus on the new economy reflected real change as well as ‘hype’. The basic reason why new economy-growth could not be seen as sustainable is that introducing advanced technologies can only take place successfully when it is accompanied by...

We find that the enforcement of non-compete clauses significantly impedes entrepreneurship and employment growth. Based on a panel of metropolitan areas in the United States from 1993 to 2002, our results indicate that, relative to states that enforce non-compete covenants, an increase in the...

This paper addresses a puzzle: How is it possible that a country that has established a broad, export-oriented industrial base at record speed, remains vulnerable to the vicissitudes of international finance and currency markets? I argue that the Korean model that was tremendously successful for...

Twenty years have passed since Nelson and Winter (1982) proposed routines as the unit of analysis of an evolutionary theory of economic change. Since then, the concept of routines has been taken up widely in the economics and business literature. Many ambiguities and open questions still...

This paper is an empirical test of the hypothesis that the appropriateness of different business strategies is conditional on the firm’s distance to the industry frontier. We use data on four 2-digit high-tech manufacturing industries in the US over the period 1972-1999, and apply...

This paper studies the geographical breadth of knowledge spillovers. Previous research suggests that knowledge spillovers benefit from geographical proximity in technologically active and rich regions more than elsewhere. An alternative view explains the geographical breadth of knowledge...

Innovation may be seen as a process of knowledge creation and the speed and direction of knowledge creation reflects the organizational set-up of the firm as well as its investments in R&D and training. Establishing ‘a learning organization’ where horizontal interaction and communication...

The aim of this paper is to investigate how industrial development, manufacturing in particular, has been contributing to agrarian change. In order to address this issue, it analyzes the technical bases and structural specificities – i.e. time and scale constraints – of agricultural...

A growing body of research on firms’ “open science” strategies rests on the notion that scientists have a strong preference for publishing and that firms are able to extract a wage discount if they allow scientists to publish. Drawing on a survey of 1,400 life scientists about to enter the...

We study the business model of venture debt firms, specialized institutions that provide loans to high-growth startups. Venture debt represents an apparent contradiction with traditional debt theory since startups have negative cash flows and lack tangible assets to secure the loan. Yet, we...