[UPDATE] Innovation and the Design of Financial Systems
Submitted by Valerie Revest on 2 March, 2010 - 16:33.
Paris, 4th and 5th of March 2010
Workshop DIME RAL3 WP3.6
Update : Final programme
Background:
It is widely recognized that Europe lags behind the US in the creation of new technological knowledge for commercial uses. Within a Schumpeterian perspective, several studies focus on the role of Technology Based Small Firms (TBSF) as major agents of technical change. As credit rationing is often implicated in the difficulties encountered by TBSF, the conventional policy suggestion to bridge the gap is based on the so-called American “Nasdaq model”: a country needs an active venture capital industry combined with a liquid domestic stock market. Yet, the existing evidence on the performance of European venture capital and high-tech exchanges suggests that this answer is not totally convincing. Another possible answer refers to the Polanyan concept of organisation of exchanges. In other words, the capacity and success of a financial system to support innovation would depend on the way exchanges are framed, changed and on their mutual dependence. Therefore in order to understand the complexity of the links between innovation and the design of the financial system one has to include the different mechanisms through which exchanges are instituted.
By means of this workshop we aim to stimulate discussion on the issue of co-evolution between the processes of technological innovation and the design of financial systems, and therefore on the ability of different varieties of capitalism to support innovative firms.
Objectives:
The workshop shall deal with the following research issues:
- Innovation finance in market-based and bank-based financial systems
- The impact of venture capital on the performance of high-tech companies
- High-tech stock markets: signalling issues and the geography of listings
- Best-practice public support to financing innovative ventures
- The relationship between income distribution, social security, labour market regulations and the availability of funds for high-tech firms.
We will welcome both theoretical and empirical works on the interaction between finance and innovation, concerning European as well as non-European economies. We encourage submission of papers based on a variety of approaches – from mainstream economics to Schumpeterian and institutional approaches.
Deadlines:
- Deadline for abstract submission: Wednesday, 23 December 2009
- Acceptance notification: Friday, 15 January 2010
- Deadline for submission: Friday, 19 February 2010
Organizers:
- Valérie Revest, LEFI, Université Lumière Lyon 2 and Université Paris XIII
- Sandro Sapio, University of Napoli Parthenope and Sant’Anna School of Advanced Studies, Pisa
- Benjamin Coriat, Université Paris XIII
Local organizers
- Maha Ben Gadha, Université Paris XIII
- Souhaila Kadi, Université Paris XIII
Travel and accommodation costs of the participants will be covered according to standard DIME arrangements for one author per paper from DIME-partners and for invited speakers. Selected speakers from non DIME members are charged with catering fees of 80 euros.
Update information about this workshop will be available on the following websites:
