BUSCADOR RECOLECTA

This paper investigates the impact of entrepreneurs’ human capital on their growth aspirations and the moderating role of regional entrepreneurial culture in this relationship. Based on human capital theory, we argue that growth aspirations will be higher for individuals with higher educational attainment and lower for those with prior entrepreneurial experience. Drawing on an institutional perspective, we also suggest that regional social acceptance of entrepreneurship and entrepreneurial role models will positively moderate these effects. Using data that combines individual and province level information in Spain over the period 2008–2014, we find support for the differential effect of formal education and entrepreneurial experience. The results also show that both social approval of entrepreneurship and role models tend to increase the growth aspirations of experienced entrepreneurs, whereas aspirations of the more educated ones are only affected by the presence of role models. Implications from the findings are discussed., The authors acknowledge financial support from projects ECO2013-46954-C3-1-R, ECO2013-46954-C3-2-R, ECO2013-48496-C4-2-R and ECO2013-48496-C4-4-R (Spanish Ministry of Science and Innovation).

Objetivo: La innovacion abierta (IA) ha demostrado ser crucial para aumentar la innovacion y el desempeno economico de las empresas. Sin embargo todavia existe una comprension limitada de los factores que impulsan realizar esta IA. El principal objetivo de este articulo es arrojar luz en esta direccion al analizar simultaneamente los determinantes internos y externos que llevan a las empresas a realizar practicas formales e informales de IA. Diseño: Las hipotesis son contratadas con muestras de dos regiones europeas, Navarra (Espana), calificada como region seguidora en innovacion, y Noord Brabant (Paises Bajos), lider innovador. La muestra seleccionada incluye empresas manufactureras y de servicios que completaron la Community Innovation Survey (CIS) 2008. Resultados: Los resultados indican que, para los determinantes internos, los motivos relacionados con la busqueda de innovaciones en producto y la intensidad interna de I + D son fuertes impulsores para todas las practicas de IA, mientras que la importancia de los motivos relacionados con la obtencion de innovaciones en proceso y medioambientales dependen del contexto regional. En cuanto a los factores externos, la politica publica influye en la adopcion de IA tanto formal como informal, pero estos resultados varian entre las regiones dependiendo del origen de los fondos. Originalidad/valor El estudio presenta importantes implicaciones para la literatura en IA. En primer lugar, mientras la mayoria de la literatura analiza un unico tipo de practicas de IA, este estudio distingue practicas formales e informales de IA y estudia sus determinantes internos y externos simultaneamente. Segundo, las hipotesis son contrastadas en dos regiones europeas diferentes. Esto permite observar si los resultados obtenidos son robustos independientemente de la localizacion de las empresas o si varian dependiendo del contexto de ambas regiones., The purpose of this paper is to analyse a firm's internal and external drivers of formal and informal open innovation (OI) practices. To enrich the analysis and to obtain more robust results, the authors checked the study's hypotheses using samples from two European regions, Navarre (Spain), classified an innovator follower, and Noord-Brabant (Netherlands), an innovator leader. Design/methodology/approach: The sample selected includes manufacturing and service firms that completed the Community Innovation Survey for the year 2008 in both regions. The final sample had 1,288 observations from Navarre and 623 observations from Noord-Brabant. The authors consider two OI dimensions, breadth of information sources for informal OI practices and breadth of cooperation agreement for formal OI practices. Finally, the estimates were performed by means of a negative binomial regression. Findings: Results indicate that for the internal drivers, product-related motives to innovate and in-house R&D intensity are strong drivers for both formal and informal OI engagement in general, while the influence of process- and environmental-related motives are context dependence. Originality/value: This study distinguishes between formal (i.e. cooperation activities) and informal (i.e. external sources of information used for new ideas) inbound OI practices, while most of the literature has focussed on one single type of OI practice. The use of two samples coming from two different European regions allows observe whether the adoption motives of the OI practices are robust independently from the firms' location or if they vary across regions owing to context dependence., The authors thank the funding for this research from Spain Economy and Competitiveness Ministry (ECO2013-48496-C4-2-R and ECO2013-46954-C3-1 projects) and Programme INTERREG IV C (EURIS project).

This study measures the effects of digitalization related to Information and Communication Technologies (ICT) investment on employment and other economic variables according to firms' ownership. We present two computable general equilibrium models (with full employment and with unemployment) which differentiate two types of firms: National and foreign multinationals (MNEs). Both types of firms allow for the substitution between labour and ICT capital. We conclude that ICT investments significantly create jobs and raise real wages, GDP and welfare. The aggregate positive effects are stronger for ICT investment in national firms than in foreign MNEs although the sign of some sectoral effects can be negative. We also analyze the role of wage flexibility in this context, with the most favorable results related to scenarios where wages are more rigid for both cases, when investors are national firms or foreign MNEs. The model is applied to the case of Spain, a country with a high unemployment rate where ICT investment has been large since the mid 1990s., The authors acknowledge financial support from the Spanish Ministry of Economy and Competitiveness, through the projects ECO2013-46954-C3-1-R and ECO2017-86054-C3-2-R (A. G. Gómez-Plana) and ECO2013-41317-R and ECO2016-78422-R (M.C. Latorre).

This paper investigates the unique and joint effects of population density and early-stage entrepreneurs’ human capital endowments (higher education, entrepreneurship training and owner-manager experience) on entrepreneurial growth aspirations. We test a number of hypotheses using data that combine individual and province level information in Spain over the period 2008-2010. We argue that growth aspirations of early-stage entrepreneurs are higher in more densely populated regions, but that such environmental influence is stronger for individuals with greater human capital. This is because they will be more aware that denser regions offer more favorable conditions for new businesses and also requires greater firm growth to compensate for a higher risk of business failure. Consistent with our view, we find that the growth aspirations of entrepreneurs with higher education are higher in densely populated provinces., The authors acknowledge financial support from projects ECO2013-46954-C3-1-R, ECO2013-46954-C3-2-R, ECO2013-48496-C4-2-R and ECO2013-48496-C4-4-R (Spanish Ministry of Economics and Competitiveness).

This paper uses social comparison theory to explore the effect that the average size of established businesses at the regional (provincial) level may have on start-up size. It is argued that established entrepreneurs at the regional level become referents of new entrepreneurs, influencing not only the decision to become entrepreneurs but also the characteristics of the new venture, such as its initial size. Specifically, the greater the average size of established businesses at the provincial level, the bigger the start-up size of new ventures. This paper further considers how this effect is moderated by two key individual level variables: knowing an entrepreneur personally (i.e., close social referent), and being the owner and manager of an existing business (i.e., past entrepreneurial and managerial experience). Predictions are tested using data that combine individual- and provincial-level information in Spain over the period 2008–2014. The results show the positive relationship of the average size of established businesses on new venture start-up size, and that this effect decreases when the entrepreneurs have previous entrepreneurial experience., The authors appreciate the valuable comments from José Ernesto Amorós and David
Urbano at the IAM conference 2015 in Chile and from the two anonymous reviewers. Martin Larraza-Kintana
acknowledges financial support by the Spanish Ministry of Economy and Competitiveness research project
ECO2013-48496-C4-2-R. Ignacio Contín-Pilart acknowledges financial support by the Spanish Ministry of
Economy and Competitiveness research project ECO2013-46954-C3-1-R. Victor Martin Sanchez acknowl-
edges financial support by the Spanish Ministry of Economy and Competitiveness research project ECO2013-
48496-C4-4-R. We also thank the GEM project for its support to this research.

Purpose: Drawing on institutional logics theory, this paper aims to examine the determinants of entrepreneurs’ planning behavior in the first years of 212 Spanish new firms. Additionally, this study identifies four different planning profiles: systematic planner, early planner, late planner and non-planner. Design/methodology/approach: This study’s data structure is a (yearly) pooled cross-sectional time series. This paper investigates the determinants of planning behaviors among entrepreneurs, as well as the impact of that activity on new firm performance (i.e. employment growth). Findings: The results confirm the relevance of institutional forces in explaining the involvement of founders of new firms upon planning activities. Institutional factors, in the form of public external support seem to explain early- and systematic-planner behavior while the influence of entrepreneurial family background does so with late-planner behavior. Originality/value: The authors focus their attention on two key moments of a new venture’ life: the first year of operation and once the firm has overcome the four-year hurdle that is often used to distinguish new from established businesses. Four different patterns emerge: systematic planner (those who consistently plan over time), early planner (those who engage in planning activities in the early moments of the firm’s life but not later), late planner (those who do not plan at the beginning but end up conducting planning activities a few years later) and non-planner (those who never get involved in planning activities). This new division is an interesting additional feature of this study., Objetivo: Utilizando la teoría de lógica institucional, el presente artículo analiza los factores determinantes del comportamiento planificador de los emprendedores durante los primeros años de operaciones, por lo que se refiere a sus negocios. A tal efecto, identificamos cuatro perfiles planificadores: sistemático, temprano, demorado y no-planificador. Diseño/metodología/aproximación: A partir de una muestra de 201 emprendedores españoles se examinan los determinantes del comportamiento planificador y el efecto subsecuente en el desempeño de las empresas. Resultados: Los resultados de este artículo ponen de relieve la importancia de las fuerzas institucionales, a la hora de explicar la involucración de éstos en cuanto a la planificación de actividades se refiere. Por un lado, factores institucionales en forma de apoyo público, tienden a explicar el comportamiento del planificador temprano y sistemático, mientras que la influencia del contexto familiar definiría el modo de actuar del planificador-demorado. Asimismo, en este artículo se analiza el impacto de los diferentes perfiles planificadores en el desempeño del crecimiento de empleo de las empresas. Originalidad/valor: El presente artículo intenta examinar de manera inédita el comportamiento planificador de los emprendedores usando la teoría de lógica institucional. Además, los resultados sugieren que planificar aporta un efecto positivo en el desempeño de las iniciativas emprendedoras., This work was supported by the Spanish Ministry of Science and Innovation (Projects number ECO2010-21242-C03-01, ECO2010-21242-C03-03, ECO2010-21393-C04-03, ECO2013-48496-C4-2-R, ECO2013-48496-C4-4-R and ECO2013-46954-C3-1-R) and also by the Government of Navarra (Project number PA03018).

Purpose – The purpose of this paper is to extend the knowledge into the relationship between open innovation (OI) and firm’s innovative performance. Specifically, the authors aim to determine whether the
benefits of OI practices are different for Food and Beverage (FnB) firms as compared to those of other sectors. The FnB industry is relevant in terms of employment GDP generation in the UE, characterised by high
integration and low-tech intensity. Design/methodology/approach – In order to achieve the goal and obtain robust results, the authors consider four OI dimensions and four innovation performance measures using panel data (2004-2011) from 10,771 FnB and non-FnB firms using Tobit and Logit models by random effects. Findings – The authors test and confirm the presence of the classical inverted U-shape relationship between OI and firm innovative performance for FnB and non-FnB companies. However, the optimal number of external sources of knowledge used is lesser for FnB than the rest of the companies.
Originality/value – The paper compares the OI effects in a traditional and low-tech industry vs other industries considering four innovation outputs (product innovations, process innovations, incremental
innovation and radical innovation)., Claudio Cruz-Cázares and Teresa García-Marco thank the Spanish Ministry of Science and Technology for its financial support granted through the project ECO2013-48496-C4-2-R. Cristina Bayona-Sáez thanks to the Spanish Ministry of Science and Technology for its financial support obtained through the project ECO2013-46954-C3-1-R. Finally Mercedes Sánchez is grateful for the support received from the Spanish Ministry of Science and Innovation (AGL2015-65897-C3-1-R).

El trabajo revisa la relación entre la mejora de la eficiencia energética y el efecto rebote, así como el impacto que cabe anticipar sobre el consumo de energía y el crecimiento en la economía española., Los autores agradecen la financiación recibida por el Ministerio de Economía y Competitividad, proyecto
ECO2013-46954-C3-1-R.

We report empirical evidence indicating that US net business formation has recently turned more volatile, procyclical and persistent. To study these stylized facts, we estimate a DSGE model with endogenous entry and exit. Business units feature heterogeneous productivity and they shut down if the present value of expected future dividends falls below the current liquidation value. The model provides a better fit than a constant exit rate model with the fluctuations of US business formation. The introduction of the extensive margin amplifies the effects of technology and risk-premium shocks, and reduces the procyclicality of firm-level production. The main sources of variability of the US aggregate fluctuations during the Great Recession are countercyclical technology shocks, persistent adverse risk-premium shocks, and expansionary monetary policy shocks., Miguel Casares would like to acknowledge the financial support of the Spanish government (research project PGC2018-093542-B-I00).