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Artículos, documentos de trabajo y otros documentos de investigación / Articles, working papers and other research papers
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Browsing Dirección de Investigación by Subject "040008S"
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Item Differentiating innovation and entrepreneurial theories on developed and underdeveloped economies(Universidad del Desarrollo. Facultad de Economía y Negocios, 2023) Mahn Borkowsky, Daniel Alfredo; Poblete, CarlosEntrepreneurship and innovation are crucial drivers of economic growth and are therefore used as public policy tools in Western economies. As such, emergent and underdeveloped economies have been importing and replicating successful policy models from developed countries in an attempt to catch up with advanced nations. As many of the theories in the economic and entrepreneurship literature have taken on the perspective of developed countries, their authors have stated the need to test them in different settings to further delineate their boundary conditions and robustness. Three essays, each focusing on a different theory of entrepreneurial innovation, are developed to test this idea. The first essay focuses on how the knowledge spillover theory of entrepreneurship (KSTE), which details the mechanism by which unused knowledge accumulates in a region and transforms into new businesses, behaves when anchored in the context of a developing economy. The regional data from Chile covering the period of 2010 to 2019 that is applied as a case study for the identification of boundary conditions shows that the theory has low effectiveness, as it only applies to those industries with a high dependency on knowledge. It also highlights the roles played by human capital, diversity, and barriers to entry in these kinds of markets. The second essay examines how informal institutions lure cross-border venture capital (VC) inflows into a market. The main rationale behind the study is that private funding entering or leaving a country can detail how the cultural characteristics of that country benefit or block its VC enabling capability, allowing us to explore an ideal set of cultural characteristics. To test this, a country-pair dataset of cross-border VC investments is used and the Hofstede et al. (1990) cultural framework is applied as a proxy for informal institutions. The results confirm and expand those of the prior literature, establishing specific cultural characteristics that support and hinder both investors and entrepreneurial activity. When adding interaction effects with formal institutions' development, the results imply that the ideal set of informal institutions for fostering VC activity differs depending on the level of formal institutions. Finally, the third essay tests whether the link between optimism and innovative capabilities holds when shifting from an individual to an aggregated level. Using a year sample of 42 countries between 2000 and 2020 and separating the effect of optimism on its two main sources of innovation, new and incumbent firms, our results suggest that the link between optimism and innovation is not straightforward: the results vary depending on the measures of innovation and optimism taken for analysis. First, our results support that business confidence (incumbent firms) supports more researchers involved in research and development and higher total factors of productivity increments (TFP), while consumer confidence (new firms) only affects TFP. Second, when separating the sample by income levels, in high-income economies, more optimism increases the number of researchers, while in middle-income countries, optimism affects spending on R&D and TFP. Finally, our results do not show any significant effects of overoptimism on the dependable variables.Item Entrepreneurship and institutional theory: Three essays(Universidad del Desarrollo. Facultad de Economía y Negocios, 2022-05) Gómez Álvarez, Hugo; Guerrero, MaribelItem Exploring the development of social identity in firm founders(Universidad del Desarrollo. Facultad de Economía y Negocios, 2021) Soto Simeone, Aracely Monserrat; Sepúlveda Umanzor, JeanThis doctoral thesis builds on social identity theory to examine (i) how and why firm founders develop different social identity types; and (ii) how identification with social groups shapes founders’ entrepreneurial endeavors. Using a qualitative research approach, I introduce a model of cultural influence on the founder’s social identity in emerging adulthood, and propose a new taxonomy that captures different social identity types in senior entrepreneurs. My findings contribute to understand how culture influences the development of entrepreneurial motivations for young firm founders, and how older individuals can build entrepreneurial identities in pursuit of dignity and an active ageing. The study also brings to the fore the inclusion of non-monetary objectives in any conceptualization of self-interest in an entrepreneurial context.Item Market segmentation under the choice modelling framework(Universidad del Desarrollo. Facultad de Economía y Negocios, 2021) Campos Requena, Nélyda Aurora; Vásquez Lavín, Felipe; Yao, JunThis thesis examines market segmentation from an economic perspective by drawing on the choice modelling framework. The market segmentation literature focuses on providing information to marketers about customers, especially about their wants, needs and preferences regarding different products or services. A challenge confronting marketing researchers is to improve the estimation of market segments. The latent class model (LCM) has been extensively used to capture consumers’ heterogeneity and identify market segments. However, some questions remain unanswered. How reliable and effective is the LCM in capturing customer heterogeneity, especially unobserved heterogeneity? How are estimation results affected if customers do not consider all information provided in the choice tasks; that is, when attribute non-attendance (ANA) occurs? To answer these questions, this thesis assessed the LCM in two ways. First, it was compared with an alternative model––the mixed logit model (MLM)––and the role of individual-specific posterior distributions (ISPs) was evaluated to account for unobserved heterogeneity and identify market segments. Second, the thesis assessed the role of ANA in modelling and identifying market segments. This thesis consists of three studies. The first study identifies market segments by examining customer heterogeneity from the ISP in the MLM and the LCM. When using the ISP in the LCM as the basis for segmentation, there is an explicit recognition that class membership is probabilistic. The identified market segments are compared in terms of the number of customers in each segment and their characteristics. The results suggest differences in both customer number and characteristics. The second study performs a Monte Carlo simulation to determine the impact of consumer heterogeneity on the accuracy of the LCM and the MLM in identifying market segments. The design comprises four experiments with two levels of heterogeneity (low and high) and the presence or absence of small (niche) segments. The results showed that the accuracy of the models is contingent on the level of heterogeneity of individuals. Specifically, when heterogeneity is low, segments estimated by the LCM are more precise; however, when heterogeneity is high, the MLM outperforms the LCM. The results also suggest that using ISPs as the basis for segmentation in the LCM makes it possible to identify market segments more accurately when heterogeneity is high. In the presence of niche segments, there was no evidence of one model outperforming the other. The third study accounts for ANA in identifying market segments using an LCM. Images were added to text, allowing consumers to visualise attribute levels. This was used to reduce ANA as a coping mechanism for complex tasks, thereby better capturing genuine consumer preferences. The results showed that inferred ANA combined with stated ANA in the LCM improves model performance. Moreover, using images to present attribute levels improves model performance when ANA is accounted for in the estimation.