Effect of entrepreneurial framework conditions on R&D transfer to new and growing firms: The case of European Union innovation-driven countries
Public investment in Research and Development (R&D) can give a strong contribution to economic development, provided that knowledge is successfully transferred to industry. Although larger and established firms have been taking on priority in this process, new and growing firms may also be important vehicles of knowledge exploitation. However, this route has received limited attention, particularly regarding the contextual conditions that may favour R&D transfer to those firms. To shed light on this topic, this article analyzes an empirical model that considers simultaneously a number of framework conditions. Using data from the National Expert Survey – Global Entrepreneurship Monitor (GEM), the study compares the proposed relationships between Portugal and fifteen other innovation-driven economies from the European Union (EU).
Abstract In order to characterize the most superadditive behavior of a risk measure, the notion of extreme-aggregation risk measures was introduced in the literature. In this short note, explicit forms of the extreme-aggregation measures induced by rank-dependent expected utility (RDEU) functionals and by RDEU-based shortfall risk measures are derived. The main results generalize those known in the literature.