Suchergebnisse

SummaryThis paper proposes a new method for constructing R&D capital stocks developed to avoid the common assumption of a constant rate of knowledge depreciation, which implies wear and tear of knowledge. The method models the development of R&D capital stocks as a process of creative destruction linking the depreciation of knowledge to the emergence of new knowledge. A first empirical assessment of the new method – measuring the influence of R&D capital stocks on production in the manufacturing sectors of 12 OECD countries – produces plausible and robust results.

We explore whether the generally construed positive effects of intergenerational upward mobility and racial desegregation, under increasing local knowledge stocks, are positively associated with regional entrepreneurial activity. We find the opposite association in a sample of 2,717 US counties. Our results imply that, when county-level knowledge stocks are high, the American Dream (of greater intergenerational upward mobility) and the American Melting Pot (of lower racial segregation) appear, at a minimum, to be not associated with greater entrepreneurial activity. The results are robust to a variety of alternate specifications. For example, when Metropolitan Statistical Area data are used in lieu of county-level data, the results are broadly consistent with those in the main results.

This paper examines the effect of home country characteristics on the internationalization of emerging market multinational enterprises (EMNEs). Drawing on the institution-based view (IBV), we argue that institutional, political, and social characteristics will positively relate to the internationalization of EMNEs. Further, drawing on the knowledge-based view (KBV), we also argue that a firm's knowledge stock (KS) will positively moderate the aforementioned relationship. Our research setting involves the incorporation of primary data collected from Iranian multinational enterprises (MNEs) operating in the food and beverage industry. The results provide support for the hypotheses that home country characteristics positively impact the international growth of EMNEs but this does not lead to their further expansion. Also, supported was the hypothesis that EMNEs' knowledge stock positively moderates the relationship between home country characteristics and their international growth. These findings not only contribute to current knowledge about the drivers of EMNE's internationalization but also stress the idiosyncratic role of home country institutions and the impact of knowledge-specific capabilities on the internationalization of EMNEs, their international growth, and expansion.