CONCORDi-2013 Programme

Day 1 – Thursday 26 September 2013

08.30 – 09.00 Registration
09.00 – 09.15 Welcome – John Bensted-Smith (Director, European Commission - JRC-IPTS)
09.15 – 09.45 Keynote speech – Mariana Mazzucato (University of Sussex, United Kingdom)
09.45 – 10.15 Keynote speech – Alexander Popov (European Central Bank) 
10.15 – 10.45 Open discussion
10.45 – 11.15 Coffee break
11.15 – 13.00 PARALLEL SESSIONS (I)
TOPIC 1 Financial sources, constraints and firms' growth strategies


Chairperson: Uwe Cantner (Friedrich Schiller University Jena, Germany)

Discussant: Werner Hölzl (Austrian Institute of Economic Research, Austria)

Rapporteur: Ari Hyytinen (University of Jyväskylä, Finland)

The Long Good-Bye: A Longitudinal Analysis of Barriers to Innovation

Alex Coad, Gabriele Pellegrino and Maria Savona  (University of Sussex, United Kingdom; University of Barcelona, Spain; Catholic University of Milan/Piacenza , Italy)

Corporate Science, Innovation and Firm Value

Markus Simeth and Michele Cincera (École Polytechnique Fédérale de Lausanne, Switzerland; Université Libre de Bruxelles, Belgium)

Investment-Uncertainty relationship: Differences between intangible and physical capital

Maria Elena Bontempi (University of Bologna, Italy)

TOPIC 2 Public policies, policy means and financing facilitators


Chairperson: Sandro Montresor (European Commission)

Discussant: Saul Lach (The Hebrew University, Israel)

Rapporteur: Gustav Martinsson (Swedish House of Finance – Sweden)

Direct and Cross-Scheme Effects in R and D Subsidy Programs: Theory and Evidence

Hanna Hottenrott, Cindy Lopes-Bento and Reinhilde Veugelers (Catholic University of Leuven, Belgium; Centre for European Economic Research, Germany; Bruegel, Belgium)

R&D subsidies to small young companies: should the independent and high-tech ones be favoured in the granting process?

Dirk Czarnitzki and Julie Delanote (Catholic University of Leuven, Belgium; Centre for European Economic Research, Germany)

R&D Subsidy Allocation – What's the Role of Firm Size?

Tanja Tanayama and Anna-Leena Asikainen (European Investment Bank; Public Research Centre Henri Tudor, Luxembourg)

13.00 – 14.00 Lunch
14.00 – 15.45 PARALLEL SESSIONS (II)
TOPIC 1 Financial sources, constraints and firms' growth strategies


Chairperson: Bronwyn H. Hall (University of California at Berkeley, USA)

Discussant: Kristian R. Miltersen (Copenhagen Business School, Denmark)

Rapporteur: Michele Cincera (Université Libre de Bruxelles, Belgium)

No money, No Honey? Financial versus Knowledge and Demand Constraints to Innovation

Gabriele Pellegrino, Maria Savona (University of Barcelona, Spain; Catholic University of Milan/Piacenza, Italy)

Dynamic Financial Constraints and Innovation: Evidence from the UK Innovation Surveys

Henry Lahr and Andrea Mina - University of Cambridge (United Kingdom)

How to Finance Innovation Persistently? A Panel Data Study on Exporting Firms in Sweden

Hans Lööf and Pardis Nabavi (Royal Institute of Technology, Sweden)

TOPIC 2 Public policies, policy means and financing facilitators


Chairperson: Debora Revoltella (European Investment Bank)

Discussant: Otto Toivanen (Catholic University of Leuven, Belgium)

Rapporteur: Marianne Guille (Université Panthéon-Assas, France)

Differentiating behavioural additionality effects of R&D tax credits

Peter Teirlinck, Daniel Neicu and Stijn Kelchtermans (Hogeschool-Universiteit Brussel, Belgium)

The impact of the research tax credit on R&D and innovation: evidence from French firms

Antoine Bozio, Delphine Irac and Loriane Py (Paris School of Economics, France)

Impact assesment of R&D subsidies in Spain: some preliminary results

Elena Huergo (University Complutense of Madrid, Spain)

15.45 – 16.15 Coffee break
TOPIC 1 Financial sources, constraints and firms' growth strategies


Chairperson: Marco Vivarelli (Catholic University of Milan/Piacenza, Italy)

Discussant: Pierre Mohnen (University of Maastricht, The Netherlands)

Rapporteur: Pietro Moncada-Paternò-Castello (European Commission)

Financial Disclosure, Tax Policy and Innovation

James R. Brown and Gustav Martinsson (Iowa State University, USA; Institute for Financial Research, Sweeden)

Patents as Quality Signals? The Implications for Financing Constraints on R&D

Dirk Czarnitzki, Bronwyn H. Hall and Hanna Hottenrott (Catholic University of Leuven, Belgium; University of California at Berkeley, USA; Catholic University of Leuven, Belgium)

R&D investments, Financial Constraints and Export

Carlo Altomonte, Maria Luisa Mancusi and Andrea Vezzulli  (Bocconi University, Italy; Catholic University of Milan, Italy; Technical University of Lisbon, Portugal)

TOPIC 2 Public policies, policy means and financing facilitators


Chairperson: Reinhilde Veugelers (Catholic University Leuven, Belgium)

Discussant: Valerie Revest (University Lumière Lyon II, France)

Rapporteur: Daniele Archibugi (Italian National Research Council, Italy)

New technology-based firms in Europe: market penetration, public venture capital and timing of investme

Luca Grilli and Samuele Murtinu  (Polytechnic University of Milan, Italy)

Impact of R&D tax incentives: evidence from UK micro BERD Data

Irem Guceri (St. Peter's College - University of Oxford, United Kingdom)

The Bearable Lightness of Crowdfunding: International Evidences from High-tech Projects

Alessandro Cordova (Bocconi University, Italy), Johanna Dolci and Gianfranco Gianfrate (CMC Capital, Ireland; Bocconi University, Italy)

18.00 End of the first day

Day2 – Friday 27 September 2013

09.00 – 09.10 Opening of second day: John BENSTED-SMITH (Director, European Commission - JRC-IPTS)
09.10 – 09.45

Summary of the Scientific Output of the Conference

  • Ari HYYTINEN (University of Jyvaskyla - FI) - Rapporteur of Conference's topic 1: Financial Sources, Constraints and Firms' Growth Strategies
  • Daniele ARCHIBUGI (Italian National Research Council - IT) - Rapporteur of Conference's topic 2: Public Policies, Policy Means and Financing Facilitators
09.45 – 10.30

Round table discussion – by Members of the Scientific Committee

Chair: Pietro MONCADA-PATERNO-CASTELLO (European Commission - EU)

  • Michele CINCERA (Université Libre de Bruxelles - BE))
  • Marianne GUILLE (Université Panthéon-Assas - FR)
  • Bronwyn H. HALL (University of California at Berkeley - US)
  • Gustav MARTINSSON (Swedish House of Finance - SE)
  • Devora REVOLTELLA (European Investment Bank - EU)
  • Reinhilde VEUGELERS (Catholic University Leuven - BE)
10.30 – 11.00 Coffee break
11.00 – 12.30

Round table discussion by European Commission's Policy Stakeholders


Chair: Xabier GOENAGA (Head of Knowledge for Growth Unit, European Commission – JRC-IPTS)

  • Vladimir BILEK (Financing of Innovation, Competitiveness and Employment Policies Unit - Directorate General for Economic and Financial Affairs)
  • Bonifacio GARCIA PORRAS (Head of Innovation Policy for Growth Unit - Directorate General for Enterprise and Industry)
  • Gaetan NICODEME (Head of Economic Aspects of Taxation Unit - Directorate General for Taxation and Customs Union)
  • Viorel PECA (Head of Innovation Unit - Directorate General for Communications Networks, Content & Technology)
  • Bernd REICHERT (Head of Research and SMEs Unit - Directorate General for Research and Innovation)
12.30 – 13.00



Lena TSIPOURI (Chair, European Commissioner's Geoghegan-Quinn's "High Level Economic Policy Expert Group Innovation for Growth - i4g")

John BENSTED-SMITH (Director, European Commission - JRC-IPTS)  

13.00 End of the Conference
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