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This article examines the determinants of adoption of industrial designs, for intellectual property (IP) protection, in a large sample of US start-ups. While patents and copyrights are widely analy...

Using a large, longitudinal panel of US start-ups collected between 2004 and 2011, this article shows the extent to which intellectual property (IP) types, for example trademarks, patents, copyrights and outward licensing, enhance multidimensional performance. An ordered probit analysis corrected for sample selection bias, estimates performance to derive the following conclusions. First, trademarks and out-licensing IP types increase a firm’s chances of being a high performer, confirming the importance of certain forms of IP protection for start-ups. Second, patenting significantly reduces the chances of being a high performer, suggesting patenting has limited performance benefits for start-ups. Third, few performance synergies exist in the joint use of IP types, suggesting that strong complementarities among IP types are limited. While out-licensing patents and out-licensing copyrights increase performance, out-licensing patents and out-licensing trademarks diminish it. Furthermore, registering more trademarks and out-licensing more trademarks also diminishes performance, suggesting start-up firms should keep trademarks in-house.

Agglomeration economies are benefits that firms obtain when they locate close to one another or are constrained spatially. Tourism is heavily reliant on agglomeration economies rather than mere resource endowments. Policy formation requires an understanding of how tourism agglomeration impacts entrepreneurship within regions. In this chapter, we focus on how agglomeration economies impact enterprise birth and death rates within the tourism sector in Ireland using a comprehensive dataset on tourism firm births and deaths. Agglomeration economies have been studied in the area of regional economic growth and prosperity, but less is known about the extent to which spatial agglomeration economies affect regional firm births and deaths in the tourism sector. Our results provide evidence of positive spatial dependence in regional tourism enterprise births and deaths. Co-location of a diverse set of complementary enterprises fosters greater tourism enterprise births. Greater local specialisation rather than diversity lowers regional tourism enterprise deaths.

This paper develops a real options decision support tool for raising the performance of the firm. It shows how entrepreneurs can use our intuitive tool quickly to assess the nature and type of action required for improved performance. This exploits our estimated econometric relationship between precipitators of entrepreneurial opportunities, time until exercise, and firm performance. Our 3D chromaticity plots show how staging investments, investment time, and firm performance support entrepreneurial decisions to embed, or to expedite, investments. Speedy entrepreneurial action is securely supported with this tool, without expertise in econometric estimation or in formulae for real options valuation. Postprint

This paper supports two key principles of real options reasoning: (a) the value of waiting and (b) the value of staging. It tests whether real options logic applies to small firms implementing significant changes (e.g. in technology) in a model of small firm performance, estimated on data collected by interviews with entrepreneurs. We found that to achieve a higher value by waiting, a delicate balance of precipitators of change against time until exercise is necessary (e.g. if there were just one or two precipitators, then waiting would certainly raise the value). Similarly, to achieve a higher value by staging, the entrepreneur needs to balance embedding against investment time. Thus, provided that investment time is less than 1¼ years, we found that embedding will raise the value. Overall, this implies that strategic flexibility in investment decisions is necessary for good long-run performance of small firms.

Kawasaki disease (KD) is the most common systemic vasculitis of childhood. The following presentation of a 4-year-old Irish boy referred to a secondary care paediatric service from the community with prolonged fever, oral mucous membrane changes and painless blistering lesions of the hands and feet in the presence of elevated inflammatory markers serves as an opportunity to discuss the diagnostic criteria and treatment for KD and incomplete KD, an often missed diagnosis with significant paediatric morbidity outside an academic paediatric centre.

In a small firm, access to information is linked with strategic awareness, a growth orientated mindset, and better performance. The advent of communication technologies has significantly changed the amount of information available, how it is being accessed, and the cost of collecting and using this information. To exploit this resource, individuals, firms, and governments must be e-ready. In this chapter, the authors examined the technological sophistication of a sample of mature small and medium sized enterprises in Scotland and analysed whether there is a link between this, some other firm-specific factors, and an entrepreneur’s succession choice. The evidence suggests while firms located in urban and suburban areas have access to ICT and may benefit from e-government services targeted at assisting them through the transfer process, older more rural firms have limited access and will only benefit if government policy is directed towards providing ICT access and making them e-ready.

Background: Data on perception of smoking risk amongst the Irish population are sparse. Aims: To study the accuracy and determinants of the perceived risk of premature death due to smoking in the general population and amongst general practitioners (GPs). Methods: Telephone surveys of a representative sample of Irish adults (1,247) and GPs (171; 85% response rate) asked participants to estimate how many of 1,000 20-year-old life-long smokers would die from smoking-related disease before the age of 70 and to identify the main cause of death from a list of seven causes: smoking, road traffic accidents, accidents at work, AIDS, homicide, illicit drugs and alcohol misuse. Results: In the population and GP samples, perception of the risk of smoking-related death was similar (median 200 and 150 deaths per 1,000 smokers respectively, epidemiological estimates 250/1000). Only 43% of the population identified smoking as the most important cause of death compared with 87% of GPs. Current smoking status, younger age, female gender, lower educational attainment and lower income were associated with failure to identify smoking as the main cause of death. Conclusion: Despite decades of health promotion, the general public underestimates the relative importance of smoking as a cause of death.

This paper focuses on a new concern in the small firm’s literature, namely what makes a small firm stay in business for a long time. It reflects a change in economic policy, away from an emphasis on volume of start-ups to an emphasis on quality of start-ups. The basic hypothesis is that flexibility enhances the long run prospects of the small firm. This is explored by examining precipitating causes of organisational change within the small firm, and the consequential adjustments. The study is fieldwork based and uses evidence from face-to-face interviews with 63 owner managers of mature small firms in Scotland. New measures of flexibility and turbulence are used to explain the performance of mature small firms. These depend on our unique body of evidence from interviews with owner managers. Performance is measured using a Likert scale over 28 distinct attributes. Econometric estimates are reported on the relationship between flexibility, turbulence and performance. This is done in two forms. The first involves generalised least squares estimatation (with heteroskedastic adjustment) of the relationship between turbulence, four measures of flexibility, and performance. The second involves Heckman sample selection estimation, of this performance relationship. It is found that turbulence has a negative effect on performance. Further, this impact is relatively large. Next in importance are those flexibility factors which can be categorised as precipitating causes of organisational change (as opposed to consequential adjustments) within the mature small firm. Finally, trade-off relationships are found to exist between two of the measures of flexibility (viz. agility and speed). We believe that this trade-off relationship is worthy of further empirical investigation