Firm innovation in emerging markets /

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Bibliographic Details
Author / Creator:Ayyagari, Meghana.
Imprint:Washington, D.C. : World Bank, Development Research Group, Finance and Private Sector Development Team, 2007.
Description:56 p. : ill. ; 28 cm.
Language:English
Series:Policy research working paper ; 4157
Policy research working papers ; 4157.
Subject:Business enterprises -- Technological innovations -- Econometric models.
Business enterprises -- Finance -- Econometric models.
Business enterprises -- Finance -- Econometric models.
Format: E-Resource Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/6325867
Hidden Bibliographic Details
Varying Form of Title:Title on cover: Firm innovation in emerging markets : the roles of governance and finance
Other authors / contributors:Demirgüç-Kunt, Aslı, 1961-
Maksimovic, Vojislav, 1955-
World Bank. Development Research Group. Finance and Private Sector Development Team.
Notes:"March 2007"--Cover.
Includes bibliographical references (p. 28-31).
Also available on the World Wide Web.
Summary:The authors investigate the determinants of firm innovation in over 19,000 firms across 47 developing economies. They define the innovation process broadly, to include not only core innovation such as the introduction of new products and new technologies, but also other types of activities that promote knowledge transfers and adapt production processes. The authors find that more innovative firms are large exporting firms characterized by private ownership, highly educated managers with mid-level managerial experience, and access to external finance. In contrast, firms that do not innovate much are typically state-owned firms without foreign competitors. The identity of the controlling shareholder seems to be particularly important for core innovation, with those private firms whose controlling shareholder is a financial institution being the least innovative. While the use of external finance is associated with greater innovation by all private firms, it does not make state-owned firms more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from domestic banks.

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Call Number: HG3879.P6 no.4157
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