The importance of the nature of cognitive factors for human capital, recognizing that not all managers possess the requisite combination
Social network research in organizational contexts highlights topics such as social capital, embeddedness, organizational networks, board interlocks, joint ventures and inter-firm alliances (see Borgatti and Foster, 2003;
For instance, in the e-business readiness index the human capital factor is understated clearly, whilst the technological factor is favoured.
Markets like Australia, Brazil and Indonesia contain a lot of possibilities for European companies. www. ecommerce-europe. eu A Brief Introduction to Europe An Overview of Europe and the European union Country Capital
Overview of the European countries A Brief Introduction to Europe Country Capital VAT Currency Population EU28 Albania Tirana 20%Lek (ALL) 2. 7mn Candidate Bosnia & Herzegovina
and capital that the cluster reaches its maturity phase as public funding and support looses importance compared to private sources.
Projections made in the early 2000s for the year 2010 (see Evolution Capital, 2001; MRI, 2002) have proved to overestimate the actual development considerably.
As a consequence, firms need substantial external capital to finance product development. Many nanotechnology firms report a lack of public funding and a lack of venture capital as main barriers to commercialisation.
In addition to fiancial capital, human capital tends to be a restricting factor, too. Nanotechnology R&d and commercialisation requires skilled people with a background in a variety of disciplines and business practices.
The need for complex human capital makes nanotechnology particularly vulnerable to shortages in labour markets for qualified personnel.
since huge amounts of capital is needed while technological and market risks are high and future returns not yet known.
Venture capital While availability of capital for start-ups is an issue in Canada generally, the Ottawa microelectronics cluster does particularly well.
while at the same time providing access to qualified human capital and technologies. Contribution of microelectronics to social wealth The contributions of microelectronics to social wealth are manifold.
EN between €48 billion (Festel Capital, 2009) and €65 billion (Mckinsey, 2009. The lower of the two estimate is equivalent to about 3. 5 percent of the worldwide chemical sales (without pharmaceutical products
Festel Capital, 2009. Depending on the application the adoption of biotechnology varies significantly. In basic chemicals which accounts for 59 percent of chemical sales,
In active pharmaceutical ingredients the share of biotechnology sales equals 18.7 percent (Festel Capital, 2009.
Festel Capital, 2009. A more conservative estimate for biochemical sales is announced by Mckinsey (2009. They predicted an increase from €65 billion to €88 billion in 2012.
(billion €) Festel Capital (2009) 12 34 113 25 Consumer che-Festel Capital 11 32 84 23 PROJECTIONS Chapter 5
EN micals (billion €)( 2009) Speciality chemicals (billion €) Festel Capital (2009) 15 38 73 17 Active pharmaceut. ingredients (billion
EURO) Festel Capital (2009) 10 31 70 21 Commercial amino acids BCC (2009) 1. 1 1. 3 3 Synthetic biology BCC
-183 483-614 Total (billion €) Mckinsey (2009) 65 88 Total (billion €) Festel Capital (2009) 48 135 340 22
SMES are entitled to tax breaks on their non-capital R&d expenditure over £10, 000 at 150 percent.
'Next to their primary function of providing capital, these business angels offer professional advice, contacts,
In absolute figures, the biotechnology cluster raised more than $4 billion in capital, including $600 million in venture financing (2006). 59 Institutions Rules and regulations:
and build the social capital of this area, which is one of the key success factors for this cluster (Su and Hung, 2009).
Tax credit on their non-capital R&d expenditure over £10, 000 at 150 percent; losses can be surrendered to the Exchequer in return for a cash payment of 24 percent of total,
While start-up capital is abundant, Chapter 6 Photonics EN 229error! Unknown document property name. EN the region suffers from the lack of venture capital firms with the level of capital required to insure the development of firms (Ouimet, 2004.
Interactions The Quebec Photonics Network is a formal cluster organisation that acts as an information hub between the cluster and the outside world.
Also the small size of firms and their limited availability of capital is a potential barrier to growth and innovation.
Changsha material cluster Introduction Changsha, capital of Hunan province, is located in south-central China. The origin of the Changsha cluster as a high-tech base was developed first since 1989 for the machinery sector,
Other entities of the financial system include the China Investment Corporation (CIC) and the China International Capital Corporation
(whose seed capital was provided by Morgan stanley back in 1995), the latter providing additional funding. The role of large Banks is particularly relevant,
Private equity capital is provided by firms and at the local level there are also Venture capital providers.
But as to the whole cluster, some other firms are short of capital because of inadequate finance channels (Li and Ya-Qing
to stress the critical role of human capital in upgrading technology successfully and to stimulate cooperation and mutual learning among SMES.
As many users of more advanced process technology are small manufacturing firms, specific barriers to technology adoption by SMES (lack of external capital, lack of specific skills, uncertainty
EN Festel Capital (2009), Market evaluation of FESTEL CAPITAL, in: OECD (eds. Discussion Paper-Session II Industry Structure and Business models for Industrial Biotechnology, OECD Workshop on Outlook on Industrial Biotechnology, DSTI/STP/BIO (2009) 22.
This process of networked production coupled with complementary services is backed by increasingly fungible capital. Foreign direct investments are growing
, capital and, crucially, the density of activity. An ever--increasing number of co--working spaces contribute to this increase in density5.
and training One of the crucial elements holding the open innovation system together is its human and social capital.
In addition, policy-makers need to address postgraduate training and‘lifelong learning'for a society's human capital as 422 Y. Wang et al./
and for cutting capital spending and moving toward a more flexible business model, says Dave Ryerkerk,
The availability of that capital does not depend only on financial issues, but also on other factors as follows:
'Innovation will not only support the development of new products or increase the productivity of labor and capital,
for development, arising from its endowment of natural resources, population, labour, its economic and social capital, infrastructure and its location relative to markets.
Techsource (technology acquisition) Support company expansions and investment in capital and productivity initiatives Provide supports for training
The Government has committed to completion of this initiative as part of the Infrastructure and Capital Programme 2012-16 announced on 10 november 2011;
which the Government has committed to deliver by PPP as part of the Infrastructure and Capital Investment Programme 2012-16 announced on 10 november 2011.
The Government has committed to deliver this investment by PPP as part of the Infrastructure and Capital Investment Programme 2012-16 announced on 10 november 2011.
Upskilling Boosting our human capital by enhancing education and skills levels in line with the National Skills Strategy and the needs of the‘Smart Economy'.
The Government has committed to this project as part of the Infrastructure and Capital Investment Programme 2012-16.
Access to capital and changes in financing; employment, targeted insertion, delivery of social and community services;
NESTA researches and explores all of the different parts of the innovation system from innovation capital and market incentives to knowledge creation and enterprise incubation.
competitive mechanisms have allowed for dramatic products and services innovations, increasing consumption and growing flows of capital into the business sector.
During the great Bangladeshi famine of the 1970s, he realized that the chronic poverty of rural populations was linked directly to their impossible access to capital, leading to a vicious cycle of low income, low savings and low investment.
He developed the microcredit model to inject capital and allow for a higher income, savings, investment and an even higher income.
flows of capital invested into emerging ideas that had the potential to revolutionize society, but only if they were carried by the right Social Entrepreneur.
and the capitals to rapidly and effectively bring their models to scale. The multiplication of these hybrid value chains is true in all sectors and particularly dramatic in developing countries,
and attract capital to Social Entrepreneurs. Changemakers, Global Giving, Idealist, Donorschoose. org or even the pages of Facebook are mere examples of a global phenomenon.
but building social capital and exploring possibilities for joint action. 58 FOSTERING INNOVATION TO ADDRESS SOCIAL CHALLENGES REFERENCES Arnkil, R. 2008) Remembering the Future:
and Performance, Journal of Intellectual Capital 6 (2), 237 252. Izushi, H. 2003. Impacts of the Length of Relationships upon the Use of Research Institutes by SMES, Research Policy 32 (3), 771 788.
or the UK's Big Society Capital fund and India's Inclusive Investment Fund. They combine investments in new hardware
and Assessment Model to assess the social capital and wellbeing of local areas. What is measured?
what can be described as social capital to create knowledge based growth. Nevertheless, local interaction can also be negative
both digitally (with ICTS) and physically (with transport infrastructure) may lead to a flow of human capital out of the region (in a process labelled'brain-drain').
For example, increasing human capital through a programme to enhance skills should match the needs of emerging industries.
development Human capital for S&t Science Parks Technology Transfer Offices and schemes Technology brokers Mobility schemes,
upgrading and retaining human capital, creating critical masses and increasing quality of connectivity Primary sector intensive regions Rural areas in lagging countries, specialised in primary sector activities Regional agencies for business development
Finally, the existence of relevant constraints to the redeployment of physical, human and intellectual capital should be inspected:
SMES need policy support in tapping into the necessary outside resources, principally access to knowledge in the form of advice through innovation support services and tailored counselling, technology or qualified human capital,
should help to concentrate regional human capital (e g. training and attracting international researchers and technicians) and thus stimulate turning science and innovation into a key instrument of regional development,
They are associated usually with strong networking effects and high levels of social capital. They also provide visibility
Innovation is succeed essential to in decoupling growth from natural capital utilisation and is therefore the key to enabling sustainable and smart growth to go hand in hand.
Such entities would be able to better use their intellectual capital if: 1. they had more knowledge,
Upper Austria has an industrial core region formed by the three cities of Linz (the capital of the province), Wels, and Steyr.
because they are confronted particularly with a limited resource base anyway, regarding capital as well as time and know-how of the employees.
located close to the capital of Linz. It is a technology and research centre for software development, industrial mathematics,
the overall quality of human capital and the numbers of star scientists employed in regional institutions and universities.
and spatial proximity in attracting human capital and fostering technological regional development, which becomes visible in spatial patterns of a so-called‘geography of talent'.
'The author identifies a triangular relationship between his three‘t',namely talent (human capital), tolerance and high technology growth:
but policy can create the antecedents needed for cluster development, for example by investing in human technical capital and knowledge.
Bangalore, known as the‘Garden City'of India, is the capital of the Indian state of Karnataka situated in the southeast (cf.
Bremen is also Germany's‘Brand Capital'in food and semiluxurious products. It is home to important brands‘made in Bremen'like Beck & Co.,Kraft Foods, Milka, Jacobs, Kelloggs, Tchibo, Kaffee HAG, Hachez, Frosta, Vitakraft, or Nordsee.
It is the capital of the region Languedoc-roussillon and administrative capital of the Hérault department (cf.
and its capital is the city of Prato (cf. Figure 8). Overall, there are approx. 241,000 inhabitants.
Infrastructure, human capital, institutional capital Regional image and identity Market resources Size, customer base, distribution channels Openness of customer base for new processes
level Creation of social capital in the form of trust-based and reciprocal relationships within region R&d Oriented Knowledge base Category Hard Factors Soft Factors Level Macro level Meso Level Micro level Macro Level
& social competencies Process Shift from individual and spatially dispersed learning to collective learning Creation of technical culture Creation of social capital in the form of trust-based and reciprocal relationships
The articulation of social capital in entrepreneurial networks: a glue or a lubricant? Entrepreneurship & Regional Development 14,193-210.
Roles of Social Capital in Venture Creation: Key Dimensions and Research Implications. Journal of Small Business Management 43 (4), 345-362.
Connectivity, Human Capital, Use of Internet, Integration of Digital Technology and Digital Public services. For more information about the DESI please refer to http://ec. europa. eu/digital-agenda/en/digital-agenda-scoreboard 2 The DESI 2015 is constructed from indicators referring mostly to the calendar year 2014 (except
DESI 2015 Country Profile Hungary Page 3 of 6 2 Human Capital 2 Human Capital Hungary Cluster score EU score rank score
DESI 2015 19 0. 48 0. 42 0. 54 DESI 2014 18 0. 47 0. 35 0. 52 With a Human Capital
who used econometric statistical methods to explore how ICT capital and ebusiness activity are linked with firm and industry characteristics and influence those.
The development of human capital, research and adaptation of new knowledge and skills is the source of growth in the competitiveness of the economy, labour force and in the quality of life.
Complementary investments in human capital, organisational changes and working practices, combined with ICT investments will have an impact on firm performance.
Thus, only if ICT investment is combined with complementary investment in working practices, human capital, and firm restructuring will it have an impact on performance (cf.
while other capital inputs summarised as non-ICT-capital have diminished in their respective importance. However, there are complementarities between other factor inputs
Another important factor that may influence the extent to which ICT enables productivity growth is the complementarity between ICT capital and skills.
1. Section 4. 1. 2 looks at the overall development of value added growth in the transport and logistics sector and analyses the contribution of different factors including ICTCAPITAL and non-ICT-capital,
The contribution of ICT capital is larger than that of non-ICT capital in some of the countries (4) but smaller in others (6). Finally,
Overall, we find hardly any evidence that ICT capital has an overarching role to play in terms of growth in gross value added.
Belgium, however, stands out as an exception with a remarkable contribution of ICT capital of 1. 56%on average to total gross value added growth of almost 3%.In another six out of the 10 analysed countries113
changes in ICT capital are only the third-important component of value added growth. In the remaining four countries, changes in ICT capital are of even lesser importance.
Exhibit 4. 1-2: Growth accounts for gross value added, transport and storage sector, in selected EU member countries, 1995-2004 (annual average growth rates in%)0. 43 0
Spainfinlandfrancegermany Italy Netherlands United kingdom Hours Worked Labour composition ICT Capital Non ICT Capital Total factor productivity Source:
(i e. capital, broken down into two different types of capital, and labour input measured in working hours,
2000) who found a high impact of ICT capital on U s. labour productivity growth. 118 Finally,
The results indicate that ICT capital by itself is not the main element, but that it rather requires complementary investments and organisational innovation.
Changes in ICT and non-ICT capital have had about the same importance for value added growth.
and skill-formation are at least equally important as investments in ICT capital themselves in order to realise the optimal benefits.
while other capital inputs summarised as non-ICT-capital have diminished in their respective importance. Cannot be confirmed.
Only high-skilled labour had a positive growth impact àindicates a skill-biased technological change with ICT-capital as its complementary factor driving growth of the transport sector.
ICT-capital has played a positive role in this industry in all countries. On the other hand, the analysis based on a stochastic production possibility frontier revealed that,
the growth accounting analysis in section 4. 1. 2 has supported not a possible relationship between investments in ICT-capital and TFP growth.
Probably, this might be due to the time structure between investments in ICT-capital and its impact on TFP.
Hypothesis P. 3 was confirmed largely (see Section 4. 1. 3). The analysis indicates a skillbiased technological change with ICT-capital as the complementary factor driving productivity growth in the transportation sector
Another study did not find positive effects of ICT capital on productivity, while ICT labour positively contributed to output and profitability (Prasad and Harker, 1997).
whereas older companies might need to adapt to new market conditions. 4. 4 Summary of impact analysis Productivity and employment Regarding the role of ICT capital in the transport and logistics sector,
Little evidence for a significant role of (and neither for significant correlation between) ICT capital in terms of boosting labour productivity growth;
First, the growth accounting decomposition confirms that ICT capital played an important role for the majority of the countries studied (albeit not for all.
Instead of pure ICT capital growth, an adequate use of human capital and strong total productivity growth,
Therefore, investments in training and skill-formation are at least equally important as investments in ICT capital itself
investments in training and skill-formation are at least equally important as investments in ICT capital themselves
investments in training and skill-formation are at least equally important as investments in ICT capital themselves
Duffy, J.,Papageorgiou, C.,Perez-Sebastian, F. 2004), Capital-Skill Complementarity? Evidence from a Panel of Countries, in:
Griliches, Z. 1969), Capital-Skill-Complementarity, in: The Review of Economics and Statistics, Vol. 51, No.
Polgreen, l.,Silos, P. 2005), Capital-Skill Complementarity and Inequality: A Sensitivity analysis, Working Paper No. 2005-20, Federal reserve bank of Atlanta, August 2005.
along with rate of growth of capital as well as that of labour, has a significant influence on the rate of growth of sales turnover of innovative SMES.
Similarly, Kg and Lg are CARG of capital and labour, respectively, during 2001/2 2005/6 and ISP is average percentage of innovated products in total sales of individual SMES during 2001/2 to 2005/6.
We have used deflated values 12 for both GVA and capital (at 2001/2 prices. The analysis covers both innovative and non-innovative SMES.
Since we did not find any statistically significant interaction effects of industries/sectors with the explanatory variables of labour and capital,
equally important is the increase in capital as well as labour. Thus if an innovative SME could expand the scale of production in terms of capital
and labour and achieve an increase in innovation sales, it will be able to experience a significant improvement in the growth of GVA.
THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGIES OECD 2010 Case studies indicate that subsidies are suited best to a situation where there is a clearly identifiable capital or fixed assets investment.
The challenges described above place health ICT investments in a space that is quite different from other capital investments in the health sector, for example a hospital building or medical equipment.
that is, ICT capital at some point pays for itself by displacing costs elsewhere in the hospital.
stimulate growth (SUP1) foster internationalisation (SUP2) make SMES more attractive for private capital markets (SUP3) make innovation processes of SMES more effective (SUP4) The need to improve the efficiency and effectiveness in providing
Access to capital, costly patenting, market fragmentation, outdated regulations and procedures, slow standard-setting and the failure to use public procurement strategically are all weaknesses that prevent good ideas from successfully reaching the market.
Incentives to attract relevant business competence to new and early stage ventures are often a prerequisite to mobilise sufficient private growth capital to the company.
This requires a solid capital foundation to work from and such funds must be able to commit themselves to companies with a high growth potential.
Stimulate and create conditions for different kind of growth capital, not only equity based investment but also loans, guarantees etc. adapted to companies having predominantly intangible assets.
Adequate supply of capital and competences are crucial for growth in SMES. Measures addressing information symmetries and risk assessment tools and systems are examples of government initiatives that can stimulate private initiatives.
returning $200 million in capital to the Export Finance and Insurance Corporation to help small and medium enterprises increase exports;
This means Australia will need to compete hard for sales of goods and services exports, for skilled labour, for investor capital and for a place in the world's global value chains.
like the US$18. 5 billion Gladstone Liquefied Natural gas (LNG) project in Queensland, have depended on international capital, expertise and materials (Santos,
This expansion could not have occurred as successfully without the economic reforms that gave Australia the necessary flexibility to relocate capital
The combination of a floating exchange rate, flexible capital and product markets and independent monetary policy stopped the economy from overheating.
as well as for skilled labour, for investor capital and for a place in the world's supply chains.
and in which areas, to invest their capital. Government subsidies and other policies that have distorted these decisions,
Less government activity will reduce The Reform Agenda TPO00007 Industry Innovation and Competitiveness Agenda Industry Competitiveness 23 competition with private businesses for labour, land and capital.
) Australia's free trade agreements have included provisions to improve access to foreign capital. In addition, the Government will help significant investment to proceed
and Insurance Corporation (EFIC) with an additional $200 million in capital in the 2014-15 Budget and is refocusing EFIC to increase its capacity to finance small and medium enterprises.
'or early stage capital to help innovative start ups and other small enterprises develop. CAMAC (2014 recommended an alternative regulatory framework be developed
Their scale means they can find it more difficult to access capital or carry and spread risks themselves,
Retrieved August 2014, from Gross capital formation(%of GDP: http://data. worldbank. org/indicator/NE.
Access to capital is essential for newly established enterprises. The Government wants to see effective public sector measures in the capital market conducive to the implementation of economically profitable projects that would not have been funded by the private market.
advantages acquisition, like capital, ground, raw materials and technology do not represent the only determinants of success for an enterprise or an organization.
When the knowledge capital of the firm although existed, is used not effectively. 4. 6. 2. Why K. M is that important?
and the participation of each employee to the firm cognitive capital is recognized also. KM alignment with the firm strategic aims KM is not an end in itself.
Little Intermediate Little High Capital versus labour/material intensive Labour Labour & material Material & labour Capital 6. 3. 3. How decisions in a production context
and more capital is required. Banks will generally be reluctant to provide financing to a company or project
It ensures that all the human capital is in step and striving to produce outcomes of value for the organisation.
e g. attractive brand names or access to human capital abroad. 3. 3. 2 Financial Problems and State Support As stated in section 3. 2 the lack of financial resources
Such entities would be able to better use their intellectual capital if: 1. they had more knowledge,
and human capital. PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 8 OECD 2004 SMES, especially in developing economies,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 18 OECD 2004 capital. First, the returns to innovative activities are highly uncertain and often skewed.
International capital markets have a role to play. The need for proximity and close interaction between investors and entrepreneurs at early stages of firm development should not lead to neglect of the contribution international capital markets can make.
which countries with less well developed capital markets can draw on the expertise of countries with well developed stock markets.
The potential benefits of foreign direct investment to host economies include sources of external capital
can only be taken in capitals and in several cases involve issues (e g. confidentiality, structure of business registers) that require legal,
Or, more precisely, is it a consequence of the exhaustion of the so-called capital deepening phase that supported labor productivity growth during the Eighties (as documented by Pianta and Vaona, 2007?
Alternatively, is it simply due to input reallocation following a change in the relative price of labor with respect to capital after the labor market reforms of the early 1990s (Brandolini et al.
while the likelihood of having process innovation is linked directly to firm's investment in fixed capital.
and with labor, capital, and knowledge inputs: i 1 i 2 i 3 i i y=p k+p PROD+p PROC+v (4) 13 where yi is labor productivity (sales per employee, in logs),
ki is investment intensity, our proxy for physical capital, PRODI and PROCI are knowledge inputs, proxied by product and process innovation indicators respectively.
Table A4 also shows the results of another experiment--in this paper we chose to proxy capital intensity by investment intensity,
However, in our data we also have a measure of capital available, constructed from investment using the usual declining balance method with a depreciation rate of 5 per cent
674 in the main tables of the paper due to the absence of lagged capital (beginning of year capital) for some of the observations. 16 with capital stock,
but capital in the production function. Column (5) includes both investment and capital in both equations.
The results are somewhat encouraging: capital stock is preferred clearly in the production function. In fact, when it is included,
although capital still plays a role. However, recall that innovation is measured over the preceding three years,
. and F. Johansen (1996), Accumulation of R&d Capital and Dynamic Firm Performance: A Not-so-fixed Effect Model, Discussion Papers 184, Research Department of Statistics Norway.
and A. Heshmati (2002), Knowledge Capital and Performance Heterogeneity: a Firm Level Innovation Study, International Journal of Production Economics Vol. 76 (1), pp. 61-85.
or both. 36 Table A4-Robustness check using lagged capital and ML estimation (9014 observations)( 1)( 2)( 3)( 4)( 5) with investment with investment with capital investment
in process, capital in productivity with both Method of estimation: Sequential pooled ML pooled ML pooled ML pooled ML Step 2-Process Innovation Predicted R&d intensity 0. 440***0. 400***0. 416***0. 399
-26,979. 0-26,908. 5-26,901. 3 Capital measured at the beginning of the period. The method of estimation in the last three columns is pooled maximum likelihood applied to the 3 steps
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