Journal of Economic Issues ( IF 0.854 ) Pub Date : 2021-03-11 , DOI: 10.1080/00213624.2021.1873046 Annie Tubadji , Peter Nijkamp , Robert Huggins
Abstract:
The link between the management of uncertainty and knowledge creation is the core element behind firm survival, as these two factors are critical for true innovation. This article links the survival of highly innovative firms to their knowledge creation and application in the context of two types of uncertainty management: (i) the individual firm's ability to handle uncertainty; (ii) the aggregate local “neuroticism” in facing uncertainty that characterizes the geographic location where the firm operates. The study is inspired by Audretsch and Dohse's model of firm growth and geographic location. We augment this model with George Shackle's potential surprise function for handling individual uncertainty. Additionally, we extend the model by also considering the psychological profile of localities, in particular their level of neuroticism according to the so-called Big Five taxonomy. Using data for the highly innovative Cambridge Region (UK) for the period 2010–2014, we find that, on individual level, the daring companies survive less frequently, but appear to live longer if they manage to survive. Survival also appears to be influenced by locational characteristics related to the local level of neuroticism. In particular, being located in a place with higher neuroticism is associated with lower survival rates.
中文翻译:
企业生存与个体和局部不确定性的关系:Sha铐的潜在突击函数的应用
摘要:
不确定性管理与知识创造之间的联系是企业生存的核心要素,因为这两个因素对于真正的创新至关重要。本文在两种不确定性管理的背景下,将高度创新的公司的生存与他们的知识创造和应用联系起来:(i)单个公司处理不确定性的能力;(ii)面对不确定性的总体本地“神经病学”,该不确定性是企业运营地理位置的特征。该研究的灵感来自于奥德瑞特和多斯的企业成长和地理位置模型。我们使用乔治·沙克尔(George Shackle)的潜在惊喜函数来扩充该模型,以处理个体不确定性。此外,我们还通过考虑当地的心理状况来扩展模型,尤其是根据所谓的“大五类”分类法,他们的神经质水平。通过使用高度创新的剑桥地区(英国)2010-2014年的数据,我们发现,在个人层面上,大胆的公司生存频率较低,但如果能够生存,则它们的寿命似乎更长。生存似乎也受到与当地神经质水平有关的位置特征的影响。特别地,位于神经质较高的地方与较低的存活率有关。生存似乎也受到与当地神经质水平有关的位置特征的影响。特别地,位于神经质较高的地方与较低的存活率有关。生存似乎也受到与当地神经质水平有关的位置特征的影响。特别地,位于神经质较高的地方与较低的存活率有关。