- ÍtemDifferentiating 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.
- ÍtemKnowledge and information leakages in strategic alliances with competitors(Universidad del Desarrollo. Facultad de Economía y Negocios, 2022) Chávez Bustamante, Felipe Orlando Gabriel; Troncoso Valverde, CristianAlliances allow businesses to access valuable resources in complex environments. Nonetheless, these interfirm agreements also make firms’ boundaries permeable to involuntary leakages of information and knowledge. This dissertation theoretically examines the interplay between information and knowledge leakages, the nature and intensity of market competition, and the incentives to pursue strategic alliances with competitors. To this end, the dissertation adopts a game-theoretic approach that accounts for the market consequences of knowledge and information leakages and the incentives to pursue strategic alliances that they generate. The main findings suggest that knowledge and information leakages might induce firms to engage in opportunistic behaviour and that the threat of such behaviour has important effects on the incentives to participate in these interfirm agreements. Thus, while knowledge leakage may drive firms to behave opportunistically by imitating its competitor, information leakage has the potential to alter the information structure of competition, modifying the incentives to generate joint value through the pursuit of strategic alliances. These findings constitute novel theoretical insights about the effects of knowledge and information leakages on the competitive behaviour of firms interacting in environments in which they simultaneously cooperate and compete with the intent to create joint value.
- ÍtemBreaking stereotypes and taboos in women's entrepreneurship : New evidence around old paradigms(Universidad del Desarrollo. Facultad de Economía y Negocios, 2022) Ibáñez Caamaño, María José; Guerrero, MaribelThis research references two articles that provide theoretical and empirical evidence that counters female entrepreneurship stereotypes and taboos. The first paper tests three gender-stereotypical assumptions prevalent in the entrepreneurship literature: the female gender decreases the propensity for entrepreneurship, women are less willing to enter high-growth industries, and women's valuation of entrepreneurial skills reduces their likelihood of entrepreneurship. A multivariate probit model to test these assumptions was implemented using Global Entrepreneurship Monitor data for eight countries in the period 2009–2016. The findings show that the female gender does not decrease the probability of being an entrepreneur and that perceived entrepreneurial skills influence the entrepreneurial propensity of men and women equally. The results indicate that the female gender reduces the likelihood of entrepreneurship in a high-growth industry. The second article discusses the influence of entrepreneurship on the empowerment and emancipation of female entrepreneurs in the Global South countries. Using the World Values Survey, this study provides empirical evidence of how entrepreneurship affects women's empowerment and emancipation differently depending on the Global South country and compared with other occupational choices, such as full-time employees and homemakers. Our study includes provocative implications in a discussion about gender dynamics, and the most vulnerable women enrolled in entrepreneurial activities in hostile/fragile institutional contexts.
- ÍtemInnovation strategy decision: a discussion of complementary between technological and nontechnological innovations(Universidad del Desarrollo. Facultad de Economía y Negocios, 2022) Guzmán Cofré, Cristian Marcelo; Váquez Lavín, FelipeThere is an extensive theoretical and empirical discussion regarding the linear relationship between R&D expenditure and innovation. However, the innovationdecision is not dichotomous since it implies the choice of a combination of technological and non-technological innovation options. Similarly, not only does internal R&D spending allow firms to innovate, but so-called non-R&D activities also allow firms to develop innovations. In this thesis we analyze two theoretical currents found in the innovation literature, innovation strategy and innovation complementarity, to discuss and show which of them allows us to better explain the innovation-decision of firms. We also analyze the effect that internal and external characteristics of firms have on their preferences for the types of R&D and non-R&D activities for the development of innovations.
- ÍtemEntrepreneurship and institutional theory: Three essays(Universidad del Desarrollo. Facultad de Economía y Negocios, 2022-05) Gómez Álvarez, Hugo; Guerrero, Maribel