Innovative competences, the financial crisis and firm-level productivity in Denmark and Finland

Bloch, Carter; Eklund, Carita; Piekkola, Hannu

doi:10.1080/10438599.2021.1895496

Cited by 3 publications

(3 citation statements)

References 32 publications

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“…This result is in line with findings byBloch et al (2023), who found that the MFP effects of broad R&D increased slightly in the period after the crisis in two Nordic countries (Denmark and Finland).…”

supporting

confidence: 92%

Multifactor productivity growth enhancers across industries and countries: firm-level evidence

Nakatani

2024

Eurasian Bus Rev

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Multifactor productivity (MFP) growth is an imperative economic engine. MFP dynamism across five advanced and seven developing countries from 1996 to 2015 is analyzed, elucidating its association with financing and intangible assets. Debt is manifested by its inverted U-shaped nonlinear relationship with MFP advancement, while corporate cash holdings are negatively (positively) associated with MFP development in five (three) countries. The heterogeneous relationships between intangible assets and MFP growth are identified across industries, countries, and time; intangible assets are requisite MFP growth enhancers for manufacturing in developing countries, for service businesses in advanced countries, and for the period after the global financial crisis. The greater the productivity effect of intangible assets is, the higher a country's per-capita income and/or governance quality becomes. Additionally, the results evince the catching-up of MFP to the technological frontier. Moreover, older firms exhibit slower MFP growth than their peers, whilst the positive effects of firm size on MFP growth are larger in high-tech and knowledgeintensive industries.

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confidence: 92%

Multifactor productivity growth enhancers across industries and countries: firm-level evidence

Nakatani

2024

Eurasian Bus Rev

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“…This method has been further refined in the Horizon 2020 GLOBALINTO project, which further tested and refined measures of mulitipliers and occupational classifications (http://www.globalinto.eu. See also Bloch et al., 2021)…”

Section: Types Of Intangiblesmentioning

confidence: 90%

“…This method has been further refined in the Horizon 2020 GLOBALINTO project, which further tested and refined measures of mulitipliers and occupational classifications (www.globalinto.eu. See also Bloch et al, 2021) While there appears to be much common ground in terms of the conceptualization of diverse types of intangibles investments, each measurement approach draws on in some cases very different types of data, and at various levels of aggregation. An important question is how these different approaches compare in their estimation of amounts of intangible assets.…”

Section: Types Of Intangiblesmentioning

confidence: 99%

Measuring intangible assets—A review of the state of the art

Criekingen

Bloch

Eklund

2021

Journal of Economic Surveys

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This paper presents an overview of the state of the art in the field surrounding the measurement of “intangibles” for productivity analysis. The purpose of the paper is to inform indicator development and implementation in economic analysis, both at the micro and aggregated levels. The review seeks to capture the development of intangibles measurement, which has explored a variety of directions, both in terms of definition, method and data. We characterize both the diversity of the field and its development over time. Current national and firm level accounting rules lead, from an economic viewpoint on intangibles, to both an underestimation of intangible assets and productivity growth. Further work is needed, both concerning the estimation of “technical” aspects such as depreciation rates and deflators, and in the continued testing and comparison of different measurement efforts. Many opportunities exist to aggregate across or cross‐validate between the measures that are currently being used, enhancing our understanding of the properties of these measures. Even though micro‐based work faces great challenges in terms of data availability, it will be important for the estimation of depreciation rates and in developing our understanding (and thereby better measurement) of broader forms of intangibles, which can thereafter inform measurement at more aggregated levels.

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Top Management Team Stability and Corporate Innovation Sustainability

Tan

2024

Sustainability

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In recent years, there has been growing recognition that the stability of the top management team (TMT) significantly impacts the operation and management of companies. However, few studies have focused on the impact of TMT stability on innovation sustainability. Therefore, based on the upper echelon theory and the faultline theory, this paper takes China’s A-share listed companies from 2010 to 2022 as a sample to explore the impact of TMT stability on corporate innovation sustainability, as well as the moderating effect of executive faultlines on this impact. The results indicate that TMT stability is positively correlated with corporate innovation sustainability, whereas the executive faultlines significantly weaken this correlation. The mechanism test reveals that a stable senior management team can reduce an enterprise’s operational risk through the management functions of executives, alleviate the financing constraints serving as a stability signal sent by the company to investors and creditors, and thus promote the sustainability of innovation. Heterogeneity analysis demonstrates that the influence of TMT stability on corporate innovation sustainability is more pronounced in companies with a high percentage of executive shareholdings, non-state ownership, and CEOs possessing technical expertise. This paper combines the overall stability of the executive team with the differentiation of its internal subgroups, broadens the research perspective of the upper echelon theory, and serves as a valuable reference for the development of corporate executive teams.

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Innovative competences, the financial crisis and firm-level productivity in Denmark and Finland

Cited by 3 publications

References 32 publications

Multifactor productivity growth enhancers across industries and countries: firm-level evidence

Multifactor productivity growth enhancers across industries and countries: firm-level evidence

Measuring intangible assets—A review of the state of the art

Top Management Team Stability and Corporate Innovation Sustainability

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