1,721,272 research outputs found
University knowledge and firm innovation: Evidence from European countries
Full text linkIn recent decades firms have intensified the exploration of external sources of knowledge to enhance their innovation capabilities. This paper presents an empirical analysis of the factors that affect the importance of academic knowledge for firms' innovative activities. An integrated approach that simultaneously considers country-level and firm-level factors is adopted. Regarding the former factors, the analysis shows that the entrepreneurial orientation of university and the quality of academic research increase the importance of knowledge transfers from universities to firms. This suggests that the environmental and institutional context contribute to explain cross-national disparities in university-industry interactions and in the effectiveness of knowledge transfer. In regard to the latter factors, the results indicate that firms oriented toward open search strategies and radical innovations are more likely to draw knowledge from universities. Furthermore, firms belonging to high technology sectors and firms with high absorptive capacity place greater value on the various links with universities. With respect to firm size the estimates show an inverted U-shaped relation with the importance of universities as a source of knowledge. However, the greatest benefits from interacting with universities are achieved by small and young research-active firms
Tecnofinanza e Finanza Alternativa: Idee per una nuova definizione di "FinTech"
No full textSebbene il concetto di FinTech – o Tecnofinanza – sia ampiamente utilizzato dagli operatori finanziari e nella letteratura scientifica, l’assenza di una definizione univoca genera possibili difficoltà nella qualificazione del fenomeno. In questo lavoro, proponiamo una nuova definizione di FinTech basata su un’analisi testuale orientata a categorizzare le imprese finanziate degli investimenti in equity da parte di investitori Venture Capital (VC) e Private Equity (PE). Attraverso un’analisi testuale, classifichiamo gli investimenti in VC e PE tra operazioni FinTech e altri tipi di operazioni, sfruttando informazioni qualitative e quantitative dei progetti finanziati in equity in tutto il mondo. Questo nuovo approccio alla definizione di FinTech viene quindi utilizzato per analizzare la distribuzione settoriale, geografica e temporale degli investimenti in equity. Studiamo infine i trend più recenti del fenomeno FinTech, attraverso un’analisi empirica a livello globale. I risultati econometrici indicano come l’incertezza e il potenziale aumento della rischiosità degli investimenti generati dalla pandemia siano accompagnati da un calo contenuto del volume degli investimenti in FinTech, mentre riscontriamo effetti meno significativi in termini di di numerosità delle transazioni in particolare nelle prime fasi della pandemia. Tali risultati suggeriscono come gli operatori VC e PE abbiano continuato a finanziare le imprese del comparto FinTech durante la pandemia, pur limitando i volumi investiti al fine di ridurre il rischio in fasi di forte incertezza
A TURNING POINT FOR BANKING: UNRAVELING THE CHANGING LANDSCAPE OF BANKING ACTIVITY IN EUROPE SINCE THE COVID-19 PANDEMIC
No full textThis study investigates how the COVID-19 pandemic affected the European banking system,
focusing on lending activities and risk-taking behavior. We use a difference-in-differences
(DID) approach to compare the performance of banks highly impacted by the pandemic with those operating in less affected countries. Our results indicate a negative impact on lending activities, as banks reduced their exposure to both individuals and businesses. Nonetheless, the impact on bank risk-taking was heterogeneous, as certain banks increased their risk-taking by relaxing their lending standards to support their borrowers while others tightened lending criteria. The reduction in total lending for the banking system was primarily driven by less capitalized banks - with a sharp decline in corporate loans combined with stability in mortgages and consumer loans - and those with limited access to public guarantee schemes. Different characteristics, such as size, profitability, and listing status, led to varied lending behaviors during the COVID-19 pandemic, with smaller and more profitable banks exhibiting greater resilience
Prototyping device ecologies: Physical to digital and viceversa
No full textThis Studio will involve participants creating interactions with physical and digital elements. They will have the opportunity to use a toolkit we developed that combines physical and digital widgets into a unique environment to allow the rapid setup of device ecologies. Therefore, participants will be able to explore how the toolkit support to physical/digital interaction gives people with low, when no, technical skills the possibility to rapidly prototype interactions among heterogeneous devices, thus blurring the boundaries between the physical and the digital world. The Studio is structured in two parts: in the first one, participants will get familiar with the toolkit hardware and software functionalities. In the second part they will experiment directly the toolkit capabilities by developing interactions among digitally-augmented objects in a cultural heritage context. We expect, in this Studio, people to learn what are the possibilities and challenges in the development of device ecologies. Copyright is held by the owner/author(s)
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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