Enrico Vanino
ERC Research Fellow
Enrico’s research is mainly focused on the micro-level analysis of firm performance, in particular regarding international and R&D activities. Enrico is concluding his PhD in Economics at the University of Birmingham. He has been a visiting researcher at the Hong Kong University and has collaborated on several consultancy projects and for the European Commission DG Trade.
Contact Details
Research Themes
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Business Growth
Biography
Enrico’s research is mainly focused on the micro-level analysis of firm performance, in particular regarding international and R&D activities. His recent works investigated the changing patterns of European international trade, in particular vis-à-vis the competition of new emerging countries such as China, and the impact on firms’ behaviour.
In addition, he is interested in international trade, economic relationships between Europe and China, international economics, industrial organisation, economics of innovation and the EU economic integration.
He has been a visiting researcher at the Hong Kong University and has collaborated on several consultancy projects and for the European Commission DG Trade.
Enrico is currently concluding his PhD in Economics at the University of Birmingham.
Fast-growth firms and their wider economic impact: UK evidence.
Published: 22 January 2019
Small groups of fast-growth firms make a significant contribution to job creation and economic growth. Yet we know little about their broader impact on the economy. This research investigates how the number of fast-growth firms in a region and industry impacts on growth of other firms. By linking the ONS Business Structure Database (BSD) with additional data at the industrial and regional level over the period 1997-2013, we test different channels of wider effects of fast-growth firms in the manufacturing and professional service sectors.
Fast-growth firms and their wider economic impact: UK evidence. Research Paper No 73
Published: 22 January 2019
Small groups of fast-growth firms make a significant contribution to job creation and economic growth. Yet we know little about their broader impact on the economy. This research investigates how the number of fast-growth firms in a region and industry impacts on growth of other firms. By linking the ONS Business Structure Database (BSD) with additional data at the industrial and regional level over the period 1997-2013, we test different channels of wider effects of fast-growth firms in the manufacturing and professional service sectors.
Team size, diversity and performance of new ventures and SMEs : a meta-analysis.Research Paper 64
Published: 15 February 2018
This paper describes what we know about the effect of top managerial teams (TMT) size and diversity on the performance of new ventures and SMEs. It does so by summarising the results of a thorough literature search of quantitative studies published on this topic between 1990 and 2016 and of a meta-analysis on the relationships reported in these studies.
1990 and 2016 and of a meta-analysis on the relationships reported in these studies.
The search revealed 47 studies and 266 measured relationships between TMT size or diversity and firm performance. These studies employed different samples, econometric techniques, geographical and industry sector focus. Almost 77% of the studies in our sample focus on new ventures, 60% on high-tech firms and 36% on SMEs.
While the meta-analysis reveals many significant and positive effects of team size and diversity, the range of effects varies quite widely depending on context, generating a range of effect sizes from small to large. This inconsistency in results suggests that more replicative studies are required to add to the body of knowledge on team effects on performance.
Team size, diversity and performance of new ventures and SMEs : a meta-analysis.Research Paper 64
Published: 15 February 2018
This paper describes what we know about the effect of top managerial teams (TMT) size and diversity on the performance of new ventures and SMEs. It does so by summarising the results of a thorough literature search of quantitative studies published on this topic between 1990 and 2016 and of a meta-analysis on the relationships reported in these studies.
1990 and 2016 and of a meta-analysis on the relationships reported in these studies.
The search revealed 47 studies and 266 measured relationships between TMT size or diversity and firm performance. These studies employed different samples, econometric techniques, geographical and industry sector focus. Almost 77% of the studies in our sample focus on new ventures, 60% on high-tech firms and 36% on SMEs.
While the meta-analysis reveals many significant and positive effects of team size and diversity, the range of effects varies quite widely depending on context, generating a range of effect sizes from small to large. This inconsistency in results suggests that more replicative studies are required to add to the body of knowledge on team effects on performance.
Assessing the business performance effects of receiving publicly-funded science, research and innovation grants – Research Paper No 61( Revised )
Published: 6 September 2017
UK Research Councils spend around £1.7bn pa on supporting research. Here, we provide the first comprehensive assessment of these research grants on the performance of UK firms. Using data on funding and partnership from Gateway to Research on all funded projects by the UK Research Councils over the 2004 to 2016 period and business performance data from the Business Structures Database we have applied a difference-in-differences propensity score matching technique to evaluate the performance of UK firms who participated in publicly-funded research projects. Our analysis suggests five key conclusions. First, firms who participated in research projects funded by UK research councils grew their turnover and employment 5.8-6.0 per cent faster in the three years after the project, and 22.5-28.0 per cent faster in the six years after the project, than similar firms which did not receive support. Second, the impact of participating in projects is larger for firms in high-tech manufacturing and knowledge intensive services. Third, we find evidence that the impact of participating in projects is larger for small firms and those with lower starting productivity (turnover per employee). Growth impacts on firms in the top quartile of the productivity (turnover per employee) distribution are small. Fourth, support relevant to businesses is provided largely by EPSRC and Innovate UK. Participation in projects funded by both organisation increases both employment and turnover growth in the short and medium terms with only marginal differences in their impact. Fifth, the effects of grants vary depending on the size of the project. Participating in projects involving small and very large grants have smaller growth effects than medium-sized support packages. Our results have implications for the extent and targeting of future Research Council funding.
Our analysis is subject to a number of caveats. First, data limitations mean that we measure economic impacts using turnover and employment data rather than value added per worker or hour worked. Secondly, at this point we only consider the direct impacts on firms. Spillovers or multiplier effects may significantly enlarge these effects; displacement may reduce them. Both will be considered in a future study. Thirdly, data linking and the timing of some grant awards in recent years mean we are able to consider growth effects for only around two-thirds of firms which participated in publicly funded science and innovation projects.
Assessing the business performance effects of receiving publicly-funded science, research and innovation grants.
Published: 6 September 2017
UK Research Councils spend around £1.7bn pa on supporting research. Here, we provide the first comprehensive assessment of these research grants on the performance of UK firms. Using data on funding and partnership from Gateway to Research on all funded projects by the UK Research Councils over the 2004 to 2016 period and business performance data from the Business Structures Database we have applied a difference-in-differences propensity score matching technique to evaluate the performance of UK firms who participated in publicly-funded research projects. Our analysis suggests five key conclusions. First, firms who participated in research projects funded by UK research councils grew their turnover and employment 5.8-6.0 per cent faster in the three years after the project, and 22.5-28.0 per cent faster in the six years after the project, than similar firms which did not receive support. Second, the impact of participating in projects is larger for firms in high-tech manufacturing and knowledge intensive services. Third, we find evidence that the impact of participating in projects is larger for small firms and those with lower starting productivity (turnover per employee). Growth impacts on firms in the top quartile of the productivity (turnover per employee) distribution are small. Fourth, support relevant to businesses is provided largely by EPSRC and Innovate UK. Participation in projects funded by both organisation increases both employment and turnover growth in the short and medium terms with only marginal differences in their impact. Fifth, the effects of grants vary depending on the size of the project. Participating in projects involving small and very large grants have smaller growth effects than medium-sized support packages. Our results have implications for the extent and targeting of future Research Council funding.
Our analysis is subject to a number of caveats. First, data limitations mean that we measure economic impacts using turnover and employment data rather than value added per worker or hour worked. Secondly, at this point we only consider the direct impacts on firms. Spillovers or multiplier effects may significantly enlarge these effects; displacement may reduce them. Both will be considered in a future study. Thirdly, data linking and the timing of some grant awards in recent years mean we are able to consider growth effects for only around two-thirds of firms which participated in publicly funded science and innovation projects.
Benchmarking Local Innovation
Published: 20 May 2017
Firms’ ability to innovate successfully plays an important role in their ability to sustain growth and competitiveness. This report provides innovation benchmarks for local areas in England, updating our previous analysis published in 2015.
The benchmarks are based on a new analysis of data from the 14,000 firms which responded to the UK Innovation Survey 2015. The analysis is designed to provide representative results for each local economic area. Information is provided on ten benchmarks including new indicators for organisational innovation.
Three benchmarks focus on forms of organisational and marketing innovation. Three further metrics relate to the inputs and structure of firms’ innovation activity with a focus on R&D, design investment and collaboration. Arguably the most important, the remaining four metrics relate to the outcomes from firms’ innovation reflecting both the extent of innovation across the population of firms as well as the success of innovation.
Our analysis highlights the diversity of innovation activity across the UK. Some local areas are marked by strengths in organisational innovation but weaker elsewhere; others exhibit higher levels of collaborative behaviour and R&D. Both suggests the value of differentiated local innovation strategies which can build on existing strengths and remedy weaknesses.
Download the LEP Radar Chart 2017 data here : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2017/06/LEP-radar-charts.xlsx
Understanding self-employment – ERC Insight Paper
Published: 7 July 2016
This Insight Paper presents the key findings of studies presented at the "Understanding Self-Employment” workshop organised by the Microbusiness Research Portal with the support of the Centre for Enterprise and Economic Development Research (CEEDR) at Middlesex University Business School on the 7th June 2016. The seminar explored the recent increase in self-employment in the UK, discussed the problems related to the definition of self-employment and presented the implications for policy development.
