Centro de Investigaciones Económicas - CINVE

Publications
  • Case Study Analysis for Chile Innovation in Services * Short Version

    Roberto Alvarez, Claudio Bravo, Andrés Zahler, Leonardo Muñoz

    10/2013

        Introduction “The service sector is increasingly important in Latin America, accounting currently for more than 60 percent of the continent’s GDP (IADB, 2012). However, despite its size, services is the sector with the largest productivity gap with respect to the technological frontier, namely the US (IADB, 2010). On the other hand there is vast evidence that innovation activities have extremely high social returns in developing economies, making it possible to transform these activities in a powerful engine of economic growth. Thus, boosting innovation in services seems to be central…

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  • Impact Evaluation of Innovation Programs in the Chilean Services Sector

    Roberto Alvarez, Claudio Bravo, Andrés Zahler

    10/2013

    Abstract This paper evaluates the impact of overall participation in innovation public programs on the performance of firms in the services industry. Using information from four innovation surveys carried out between 2005 and 2011, we find that that these programs have not been associated with improvements in innovation performance neither have contributed to alleviate financial constraints. Our findings hold across industries and firm size and also to the utilization of alternatives methodologies. However, there is some evidence of positive effects in some variables and for some industries in particular. Our…

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  • Biotechnology services in Latin America by small and medium enterprises A study of Argentina, Brazil, Chile and Uruguay

    Jorge Niosi, Tomas Gabriel Bas

    10/2013

    Executive summary This paper is about a specific type of Knowledge Intensive Business Services (KIBS), namely R&D services in biotechnology, and their growth in four Latin American countries: Argentina, Brazil, Chile and Uruguay. Like other emerging and developing countries, the four countries in the Southern Cone are slowly adopting biotechnology. Well over a hundred dedicated biotechnology firms are already providing services in the region, from R&D to bioinformatics, to gene identification and stem cell databank storage services.  We interviewed some 23 firms in the region, as well as a few…

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  • Private Equity and Asset Characteristics: The Case of Agricultural Production

    08/2013

    Mondelli, M and P. Klein Managerial and Decision Economics, forthcoming Descarga/Download Unlike most other mature industries, the agricultural production sector is domi-nated by family firms, partnerships, and cooperatives, with few corporations and limited access to capital derived from a source other than retained earnings and existing owners. However, use of external equity capital in agriculture has in-creased dramatically since 1990. This funding source allows farms to exploit en-trepreneurial opportunities not easily financed by debt. Following Williamson (1988), we view debt and equity as alternative governance structures and argue that transaction…

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  • Sources of Firm Performance Differences in the U.S. Food Economy

    08/2013

    Chaddad, F. and M. Mondelli Journal of Agricultural Economics 2013, vol 64(2) (Abstract) Download/Descarga

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  • Private Equity and Entrepreneurial Governance: Time for a Balanced View

    P. Klein, J. Chapman, and M. Mondelli

    08/2013

    P. Klein, J. Chapman, and M. Mondelli Academy of Management Perspectives, Forthcoming (Abstract) Download/Descargar Private equity (PE) is best understood not as a financing method, but as governance structure, one that emphasizes strong performance incentives, rules over discretion, and a strong alignment between ownership and management. Briefly, PE governance makes owners into active managers and makes managers behave like owners. As such, PE is often regarded as a more “entrepreneurial” form of governance than that associated with the publicly traded corporation. We argue for a balanced view in which PE is…

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