Learning-by-doing and knowledge management in financial markets

Abstract

This article provides a model of the ways in which knowledge is defined and conceptualised in economic geography including reference to codified and tacit knowledge and how these concepts apply or do not apply to financial markets. This leads to a reinterpretation of learning-by-doing, and a call for a renewed focus on human behaviour especially as regards to the ways in which knowledge and understanding of financial markets intersect with management strategy and organisational design. Implications are drawn for economic geography about what appear to be two different and nonintersecting research programmes in the discipline-the knowledge economy and finance.

Do Firms Really Learn From Failure? The Dynamics of Abandoned Innovation

“…Our evidence suggests that this process is self-reinforcing as firms which abandon innovation in subsequent periods further refine their innovation routines and sharpen their focus on the most rewarding technologies. This reflects the benefits of cumulative learning or learning-by-doing processes in areas such as serial entrepreneurship (Lafontaine and Shaw 2016), new technology adoption (Bourke and Roper 2016;Bourke and Roper 2017;Clark 2018), exporting (Love and Máñez 2019), and knowledge management (Clark 2018). Our third hypothesis reflects the potential moderating effect of previous R&D and fourth hypothesis the moderating effect of previous training (i.e.…”

Rural-Urban Linkages: Regional Financial Business Services’ Integration into Chilean Agri-Food Value Chains

“…Nevertheless, economics and business management studies often assume perfect capital mobility, implying assumptions of spatial homogeneity in access to finance [2,39]. Consequently, an understudied aspect is the geography of supply and access to financial services, as well as an assessment on how local economies can be affected by financing constraints [40][41][42].…”

“…In the context of geographic fragmentation of production, the potential for vertical integration of different economic sectors with financial services is affected by the geographical distance of resource industries, which tend to be attracted to regions with intense availability of these natural resources [36,44,45]. The spatial concentration of financial markets implies that money tends to flow and accumulate in specific spatial areas, and are not evenly distributed in space [2,42], generating critical challenges to subnational companies accessing external financing sources. In addition, the role of urban agglomerations in providing better access to growth is a topic that has attracted considerable research and policy attention in recent years [46][47][48].…”

“…Some northern regions showed a decrease in the total number of agriculture companies, such as De Atacama and De Coquimbo, with −10% and −11%, respectively. Regarding financial linkages, the lack of geographic immateriality in the expansion of finance networks goes back to the need for external financing in backwardagriculture-engaged regions, consequently pointing to the relevance of finance in the architecture of spatial inequalities [42,63,67,68].…”

The (De-)Contextualization of Geographical Knowledge in Forest Fire Risk Management in Chile as a Challenge for Governance

“…Risks are part of entrepreneurial ventures and promise aboveaverage returns. Whoever succeeds in controlling risks better than others will be prosperous in the market (Clark, 2018;Knight, 1921). With this line of argument, it is easy to ignore that individual decisions about risk in the economy most often coincide with external effects for other social stakeholder.…”