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The new Industry and Innovation is out! Access the new issue 
 Articles in Industry and Innovation 27/5:

Research Articles

Economic crisis and firm exit: do intangibles 
By: Fabio Landini, Alessandro Arrighetti & Andrea Lasagni

Abstract: The financial crisis has caused many business closures, especially in 
the periphery of the European Monetary Union. In this paper, we use original 
firm-level Italian data to explore the role of intangibles in limiting firm 
exit during the crisis. While intangibles strengthen firms' resilience, i.e. 
the ability to cope with unexpected shocks, they also entail sunk costs, which 
expose firms to greater financial risk. In the longer term, when access to 
external finance is critical for survival, we expect intangibles to play a 
positive role only if combined with a solid financial structure. Our results 
support these hypotheses: intangibles directly reduce the probability of firm 
exit during the initial phase of the crisis (before 2010). At later stages, the 
beneficial effect of intangible assets is conditional on the firm exhibiting a 
solid pre-crisis financial status. Managerial and policy implications are 

Knowledge-intensive sectors and the role of collective performance-related 
By: Stefania Cardinaleschi, Mirella Damiani & Fabrizio Pompei

Abstract: The main contribution of this study is showing that the efficiency 
effects of collective performance-related pay (CPRP) are more pronounced in 
knowledge-intensive service sectors (KISs) than in other sectors. The 
hypothesis is that human resource practices such as CPRP are particularly 
useful for enhancing firm performance when innovation-supporting knowledge is 
distributed among multiple skill sets and employee creativity, knowledge 
creation and knowledge sharing are key success factors for the firm. 
Cross-sectional estimates obtained for a national sample of approximately 3,800 
Italian firms confirm this prediction. These results are validated by adopting 
a treatment effect approach to solve the self-selection problem.

The importance of geographical distance to different types of R&D collaboration 
in the pharmaceutical 
By: Francesca Bignami, Pauline Mattsson & Jarno Hoekman

Abstract: Innovation within companies is generated by a combination of 
different types of knowledge from external and geographically dispersed 
sources. Although the geographical dimension of collaboration has previously 
been investigated, studies have not distinguished between different types of 
knowledge involved in collaboration. This article analyses how the number of 
collaborations between pharmaceutical multinational companies (MNCs) and 
external organizations is affected by geographical distance, distinguishing 
between four knowledge types: basic science, clinical science, core knowledge, 
and exploration knowledge. We use co-publications as a proxy for 
collaborations. Our results show that collaborations in basic science and core 
knowledge areas are more negatively affected by geographical distance than 
collaborations within clinical science and exploration knowledge areas. This 
suggests that the importance of geographic proximity depends on the type of 
knowledge that is being transferred in R&D collaborations. Our results have 
implications for companiesĀ“ collaboration strategies and their choices for the 
R&D sitesĀ“ location.

Agglomeration and innovation of knowledge intensive business 
By: Orsa Kekezi & Johan Klaesson

Abstract: For some time now, the research focusing on Knowledge Intensive 
Business Services (KIBS) has been very active. Observing that knowledge as a 
production factor is only becoming more and more pronounced, this focus is 
well-grounded. It is therefore important to examine how these knowledge-hubs 
gain and propagate their knowledge. We hypothesize that KIBS (as many other 
sectors) benefit from intra-industry knowledge spillovers facilitated by 
geographical concentration. Our focus is the innovative capacity of KIBS, which 
we measure through trademarks registered by KIBS firms. While there may be 
several mechanisms facilitating knowledge spillovers, we can identify local 
intra-sectoral labor mobility as one. Accessibility measures are used to assess 
the geographical attenuation of the spillover effects. Results show that the 
distance decay of spillovers is fast. Only local concentrations of KIBS seem to 
be of importance. Over longer distances, we instead observe negative 
consequences for trademarking, indicating possible spatial competition effects.

The invisible college of cluster research: a bibliometric core-periphery 
analysis of the 
By: S.R. Sedita , A. Caloffi & L. Lazzeretti

Absract: This paper explores the evolutionary trajectories of cluster research, 
building upon the sociology of science concept of the invisible college, and it 
undertakes a core-periphery analysis of the literature. We build a database 
that includes 8,381 articles, collected from Web of Science, that cite the 
foundational works of cluster research, and we perform a longitudinal analysis 
of its evolution from 1985 onward, identifying the core and periphery, in terms 
of keywords and concepts, for each period (six-year window). We find evidence 
that cluster research has a core-periphery structure. Literature develops 
thanks to new inputs from the periphery, which increases over time as the core 
progressively shrinks. The periphery becomes fragmented and is characterised by 
subgroups of small communities. Drawing on the metaphor of the invisible 
college, we argue that this evolutionary trajectory is not exclusive of the 
cluster but might possibly characterise other scientific concepts.

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