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search.filters.applied.f.advisor: Hicks, Diana × End date: 2009 × Start date: 2000 ×

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    Three essays on serial innovator firms and geographical clustering
    (Georgia Institute of Technology, 2008-11-10) Libaers, Dirk
    This study aims to elucidate firm and performance attributes of a population of small, elite firms that assume prominent positions in their respective technological spaces and product markets. More specifically, this study addresses the role and impact of industrial agglomeration on the location and performance characteristics of serial innovator firms. The dissertation was conceived as a collection of three distinct but related essays. The first essay on the geographical location of firms with high levels of innovative prowess i.e. serial innovator firms vis-à-vis technology clusters and research universities indicates that these firms are not necessarily located in Metropolitan Statistical Areas (MSA) with higher average levels of industry clustering than non-serial innovator firms of similar size. Serial innovator firms and their less innovative counterparts appear to have the same need and capacity to absorb knowledge spillovers in technology clusters. Further analysis, however, revealed that serial innovator firms in the Pharmaceutical & Biotechnology and IT hardware industries are located in MSA's with significantly higher levels of regional specialization than non-serial innovator firms in that industry which suggests an asymmetric need for knowledge spillovers by these firms. Furthermore, serial innovator firms seem to be located in MSA's with a significantly higher number of research universities than a non-serial innovator firm although differences across industries can be noted. This again indicates an asymmetric use and need for academic knowledge spillovers and pecuniary advantages offered by these institutions. The analysis in the second essay reveals that serial innovator firms located in MSAs (Metropolitan Statistical Areas) with elevated levels of industrial clustering announce significantly more new products than their counterparts located in MSA areas with low levels of industrial clustering. However, no differences in the pace of technological progress of the technologies developed by serial innovator firms located in technology clusters and those outside of clusters was found. Finally, the research reported in the third essay indicates that the level of industrial agglomeration has a positive impact on the export performance of serial innovator firms and that these firms benefit proportionately more from technology clusters than non-serial innovator firms.
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    Modelling stock market performance of firms as a function of the quality and quantity of intellectual property owned
    (Georgia Institute of Technology, 2007-07-12) Chauhan, Lokendra Pratap Singh
    This thesis attempts to analyze a part of the big and complex process of how intellectual property ownership and technological innovation influence the performance of firms and their revenues. Here I analyze a firm's stock market performance as a function of the quantity and quality of intellectual property (patents) owned by the firm in context of the three US high-technology sectors, Pharmaceuticals, Semiconductors and Wireless. In these sectors, value of a firm is predominantly driven by the technologies which a firm owns. I use citation based indicators and number of claims to measure the quality of patents. This research presents empirical evidence for the hypothesis that in high-tech sectors, companies which generate better quality intellectual property perform better than average in the stock market. I also posit that firms which are producing better quality technologies (good R&D) invest more in R&D regardless of their market performance. Furthermore, though smaller firms get relatively less returns on quality and quantity of innovation, they tend to invest a bigger fraction of their total assets in R&D when they are generating high quality patents. Larger firms enjoy the super-additivity effects in terms of market performance as the same intellectual property gives better returns to them. In addition, returns to R&D are relatively higher in the pharmaceutical industry than semiconductor or wireless industries.
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    Nanotechnology enterprise in the United States: structure and location
    (Georgia Institute of Technology, 2006-04-12) Bhaskarabhatla, Ajay Sivaram
    This thesis investigates the structure and location of the nanotechnology enterprise in the United States. Nanotechnology merits focus because of the high degree of innovative activity associated with it and due to its promise for regional economic development. I consider the particular sectoral and technical characteristics of nanotechnology. Building on insights from theories of high-technology industrial evolution, this thesis examines contrasting hypotheses about the location of nanotechnology firms. I find that regional academic R and D, availability of venture capital promote entry of nanotechnology firms.