Browsing Danish Research Unit for Industrial Dynamics (DRUID) by Title
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Maskell, Peter; Kebir, Laïla (København, 2005)[More information][Less information]
Abstract: Abstract: This paper investigates the theoretical backgrounds of the "cluster" and proposes a framework aiming at drawing the contour of cluster theory. The profundity of the notion of ‘clusters’ is arguably conditional on the coherence of four fundamental issues associated with the concept: 1) the economic and social benefits that may accrue to firms when clustering or co-locating (the existence argument); 2) the diseconomies encountered when clustering exceeds certain geographical and sectoral thresholds (the extension argument); 3) the advantages obtained by exploiting intra-cluster synergies rather engaging in external interaction (the exchange argument); and, finally, 4) the possible erosion of economies and onset of diseconomies over the lifecycle of the cluster (the exhaustion argument). Each of these four issues is examined in terms of three relevant major theoretical frameworks that can be brought to bear on the cluster concept. The paper considers approaches based on the idea of externalities (illustrated by the Marshall's work on ‘Industrial district’); on competitiveness issue (illustrated by Michael Porter’s theory of cluster growth); on a territorial perspective (illustrated by the GREMI approach). The analysis acknowledges the general shift in explanatory emphasis from considerations of static cost efficiency towards more dynamic interpretations that highlight the creation and use of knowledge as their pivotal theoretical element. By placing these changes within a common conceptual framework the paper shows how different theoretical solutions provide distinct points of departure for subsequent policy recommendations. Three distinctive groups of solutions are identified focussing respectively on local spillovers, on competitiveness and on the region and its development. The paper concludes by identifying areas of particular ambiguity where further theoretical work is most urgently needed. Key words: Cluster, cluster theory, industrial district, innovative milieu, regional policy JEL Codes: L22, R10, R58 URI: http://hdl.handle.net/10398/7211 Files in this item: 1
maskell05-09.pdf (260.6Kb) -
Balance Sheet and Patent Data as Sources of Investor Information During Volatile Market TimesRamb, Fred; Reitzig, Markus (Frederiksberg, 2005)[More information][Less information]
Abstract: We originally investigate the comparative usefulness of patent data as a source of investor information depending on the market cycle (bull/bear market). Based on comprehensive data for firms listed on German exchanges between 1997 and 2002, we demonstrate that patent data contain complementary explanatory power to accounting data irrespective of the standard used to prepare the financial statement (German GAAP, IAS and US GAAP). Moreover, we provide original evidence that only patent data are able to provide plausible investor information in both bull-market and bear-market periods, whereas accounting information overvalues intangible assets in bull markets and undervalues them in bears. URI: http://hdl.handle.net/10398/7886 Files in this item: 1
DRUID_05_15.pdf (457.5Kb)
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