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1.
This paper investigates the role of government R&D subsidy programs in stimulating knowledge spillovers. R&D subsidies are an effective public policy instrument when knowledge spillovers exist yet ex ante it is difficult to identify projects that have the greatest potential to increase innovation and economic growth. This paper derives a set of project and firm attributes that the literature finds generate knowledge spillovers and uses data on project proposals to estimate the degree to which a government R&D program conforms. We find that projects that were awarded R&D subsidies were more likely to have attributes such as participation in new research joint ventures and connections to universities and other firms. Following the post-award activities of firm, we find that receipt of a government R&D subsidy increased the funding from other sources when compared to firms that were not awarded funding. 相似文献
2.
This paper investigates the causal effect of foreign acquisitions on the research and development (R&D) activities of domestic target firms over the period 1994–2004. Using accounting data on French innovative manufacturing firms, we implement appropriate difference-in-difference estimation techniques associated with a matching propensity score procedure. We find that the acquisitions of French firms by foreign companies boost R&D spending. There is a simultaneous rise in the external and in-house R&D expenditures of French acquired firms. R&D is more contracted out to local research providers, in particular to local public laboratories and universities. The increase in internal R&D spending benefits to development, but also basic and applied research. Finally, the growth of the R&D budget is not only financed by internal resources but also receives financing from external partners, especially parent companies. Thus, our results call into question the idea that foreign takeovers hamper the R&D development of target firms and are detrimental to the national innovation system of the host country. First, acquisitions appear to bring efficiency gains enough to counterbalance the various costs of integration and market power effects, pushing firms to invest more in R&D. Acquisitions do not seem to incite managers to take shorter term and more financial driven decisions at the expense of R&D. Second, when motivated by technology sourcing and overseas R&D development, acquisitions might be used to access the specific know-how of target firms and to tap into the knowledge of the national innovation system. Then, purchaser firms could be more likely to develop the innovative capability of target firms and to strengthen their linkages with local partners than to reduce them and relocate R&D abroad. 相似文献
3.
This empirical study examines small firms’ strategies for capturing returns to investments in innovation. We find that small firms’ strategies are qualitatively different from those found in earlier studies of both small and large firms. Most of the small firms examined here find informal means of protection, such as speed to market or secrecy, more important than patenting. Only firms with university cooperation—typically R&D intensive and science-based small firms—were likely to identify patents as the most important method of appropriating innovation returns in their field. Thus, the strategic choice for most small firms is between secrecy and speed to market. Firms that cooperate in innovation with horizontal partners or significantly depend on vertical partners tend to prefer speed, whereas process innovators with modest R&D investments or few cooperative R&D activities display a preference for trade secrets. Indeed, cooperation activities greatly influence the choice of intellectual property strategy for small firms. Earlier research has emphasized patents and trade secrets as key strategies of appropriation, yet these strategies do not appear to be very beneficial for small firms engaged in cooperative innovation. These results raise policy questions regarding the functionality of the existing system of intellectual property rights. 相似文献
4.
We analyse the impact of R&D cooperation on firm performance differentiating between four types of R&D partners (competitors, suppliers, customers, and universities and research institutes), and considering two performance measures: labour productivity and productivity in innovative (new to the market) sales. Using data on a large sample of Dutch innovating firms in two waves of the Community Innovation Survey (1996, 1998), we examine the impact of R&D cooperation in 1996 on subsequent productivity growth in 1996–1998. The results confirm a major heterogeneity in the rationales and goals of R&D cooperation. Competitor and supplier cooperation focus on incremental innovations, improving the productivity performance of firms. University cooperation and again competitor cooperation are instrumental in creating innovations generating sales of products that are novel to the market, improving the growth performance of firms. Furthermore, customers and universities are important sources of knowledge for firms pursuing radical innovations, which facilitate growth in innovative sales in the absence of formal R&D cooperation. 相似文献
5.
Sourcing technological knowledge through corporate acquisition: Evidence from an international sample of high technology firms 总被引：2，自引：0，他引：2
We investigate the prevalence of the motive to source technological knowledge externally through corporate acquisition. Drawing on make-or-buy and organizational learning theories, we infer the implications of this explanation for the acquirers' pre-acquisition innovative characteristics. Using an international sample of 6106 high technology acquisitions during 1984–2000, we assess the contribution of innovative characteristics to the acquisition likelihood. For firms acquiring small private firms and former subsidiaries—but not public targets—the evidence is consistent with three propositions: (1) A firm's commitment to internal R&D is negatively affected by the decision to acquire; (2) Low R&D productivity increases the likelihood of acquisition; (3) A large knowledge stock predisposes firms to acquire because they perceive they are capable of selecting and absorbing targets. We conclude that acquisitions of small private firms and former subsidiaries are a viable R&D strategy to explore a range of potential future innovation trajectories for large public firms. 相似文献
6.
Jerome E. Schnee 《Research Policy》1979,8(4):364-382
The adverse economic impacts of the 1962 Kefauver-Harris Amendments to the Food, Drug and Cosmetic Act have transformed the U.S. pharmaceutical industry. The key elements of this transformation include declining rates of innovation, huge increases in R&D costs and risks, lowered profitability, and an erosion of U.S. technological leadership. U.S. pharmaceutical firms must develop new, creative R&D strategies in order to cope with this complex and demanding environment. U.S. firms have responded to more stringent domestic regulation by sharply increasing both foreign R&D expenditures and initial clinical testing of new chemical entities at foreign locations.New patterns of project selection strategies have begun to emerge in the 1970s. As the total number of R&D projects has been cut back, pharmaceutical firms have focused resources on those disease areas with the highest epidemiological importance. To cope with the increasing riskiness of drug R&D firms have shifted dollars from research to development. Pharmaceutical firms are also likely to alter their strategies for discovering new drugs. As firms reduce explorative, basic research, more structured, engineering approaches will receive increased emphasis. Because individual drug companies are likely to have reduced capacity for originating drugs within their own laboratories, competition among firms for access to new compounds and research ideas is likely to in tensify. 相似文献
7.
Complementary insights from Transaction Cost Economics (TCE) and the Resource-Based View (RBV) of the firm are combined to predict the relationship between firm specific technological knowledge and patterns of integration within organizational boundaries. The findings show that the level of Research and Development (R&D) intensity (representing the creation of firm specific technological knowledge) has an inverted U-shaped relationship with the propensity of firms to integrate activities within organizational boundaries. At low levels of R&D intensity, firms’ propensity to integrate their activities is low, but increases with escalating levels of R&D intensity in order to avoid the misappropriation of value generated by technological knowledge. However, beyond a certain R&D intensity level, the propensity to integrate activities declines, since the level of technological knowledge is high enough to prevent imitation by third parties. As expected we further find that firms which follow this integration pattern outperform those which do not. As the level of R&D intensity increases, the integration of production and marketing activities enables firms to improve performance until a certain R&D intensity threshold, after which such integration negatively affects performance. 相似文献
8.
Innovation activities, use of appropriation instruments and absorptive capacity: Evidence from Spanish firms 总被引：2，自引：1，他引：2
This article empirically investigates the relationship between innovation activities of firms, their use of appropriation instruments and their absorptive capacity. We study a wide range of manufacturing and service industries, not just high-tech, and a wide range of innovation activities, not just R&D. We use multilevel logit models for complex samples to disentangle industry from firm-specific effects. We find that within an industry, firms that invest in appropriation instruments to reduce outgoing spillovers tend to conduct more R&D and downstream activities than firms that do not. Acquisition of technology is not related to the use of appropriation instruments. The effects of incoming spillovers (measured through absorptive capacity) on innovation activities of firms are industry specific and stronger for firms that invest in appropriation instruments. For this type of firm, both the capability to scan the external environment for technology and the capability to integrate new technology are related to the innovation activities. For firms that do not invest in appropriation instruments, only scanning capabilities are related. 相似文献
9.
The R&D effort, even of the largest, most technologically advanced developing countries, and their most sophisticated firms, cannot match that of the major industrial nations or the largest corporations. Our objective in this paper is to analyse innovation, technical change and R&D management in technology-leaders to build a framework for R&D in technology-followers outside of those major nations. This framework emphasises the importance of specific learning mechanisms and puts forward an argument that in-house R&D is indeed required in technology-followers, but a profoundly different type of R&D. R&D units, based in the firm, can become the location for organised learning, the problem-solver of last resort in production, the in-house knowledge store and gatekeeper, and the focus for independent design and product development capacity. 相似文献
10.
M. Teubal 《Research Policy》1982,11(6):333-346
This paper summarizes the pilot stage of a microeconomic study of the innovation performance through time of young, high-technology Israeli firms. It reports some results for a successful firm designing, producing and selling electronic instruments and systems. The paper begins by surveying some of the difficulties surrounding the collection and organization of data on R&D projects. One of them concerns the definition of the ‘Unit for Analysis’ - the R&D project. Three criteria are suggested for dividing the stream for innovative activities into R&D projects, and these are applied to group the tens of products, accessories and systems included in the analysis into nine projects. The paper subsequently defines a measure of “direct” project performance or profitability estimate - discounted operating profits per unit of fixed costs - and provides estimates based on R&D and sales data for the products of each project. The final sections analyze the variation of project profitability through time. The increasing profitability observed across generations of a product class is attributed to the adaptability of the firm to changes in the environment, particularly to the availability of new technology which requires the swift design and sale of more complex products. The qualitative history of the various projects suggests that this adaptability is due, to a large extent, to the skills, infrastructure and reputation of the firm accumulated from prior projects, i.e. that the “indirect” profitability of the latter is high. Some estimates of the indirect profitability of early projects are presented. A comparison of the spin-off mechanisms observed in the firm analyzed with those observed in firms of other industries is also undertaken. 相似文献
11.
Public procurement has been at the centre of recent discussions on innovation policy. We embed it into the broader framework of public policies to stimulate innovation: regulations, R&D subsidies and basic research at universities. We synthesize the characteristics of all four instruments conceptionally and quantitatively compare their effects on innovation success for 1100 firms in Germany. We find that public procurement and knowledge spillovers from universities propel innovation success equally. The benefits of university knowledge apply uniformly to all firms. However, public procurement is especially effective for smaller firms in regions under economic stress and in distributive or technological services. 相似文献
12.
Frieder Meyer-Krahmer 《Research Policy》1981,10(4):356-366
The paper illustrates the present status and the problems of impact research through an impact research study of the program of funding research and development personnel in small and meduim-sized firms launched by the German Federal Government. This impact analysis study is one of the first of its kind to be conducted in technology policy in the Federal Republic of Germany. It is mainly devoted to the following problems: acceptance by the firms involved of the funding program; relevance of the program to internal decision-making processes; quantitative and qualitative effects on R&D personnel and R&D activities; impact on the innovation activities of firms; efficient implementation and management of the program. Impact analyses need to go beyond the framework of a shallow technocratic incidence analysis studying only effects the funding program is assumed to have. Such solidly based impact analysis is possible only if also the basic aspects underlying the funding programs can be reviewed critically and verified empirically. The practical implementation of this criterion is demonstrated by studying the effects of the funding measure on the innovative activities of firms. Typical problems associated with impact anayses are insufficient access to the data required, shortcomings in the evolution of theories and the development of methods, weaknesses inherent in the formation of indicators on a sound theoretical basis and with a sufficient degree of operationalization. It is shown how far these problems make themselves felt, and are partly overcome, in this impact analysis. In particular, the early inclusion of evaluation aspects in the conceptual phase of the funding program has established comparatively favorable conditions for this impact analysis. 相似文献
13.
This study examines the technology strategies of 88 technology-based growth companies that went public on the German “Neuer Markt” between 1997 and 2002. The regression analyses show significant positive effects of R&D on growth but negative effects on profitability. The data suggests that firm age is a moderating factor influencing whether technology investments lead to higher growth or profitability in the life cycle of technology-based growth companies. In our sample, higher R&D intensity led to increased sales growth but lower return on sales, but the growth effect was negative and the impact on profitability positive. These results support the significance of company life cycle theories for formulating technology strategies, which suggests that different stages in the development of technology-based firms call for specific levels of R&D intensity to sustain growth and profitability. 相似文献
14.
Peter deLeon 《Research Policy》1982,11(6):347-357
The development of new and advanced technologies, especially those with significant potential social effects, needs to be assessed as part of an on-going process. This paper proposes an evaluation agenda for technology R&D over the next decade with special emphasis on four issues: appropriate technology R&D standards and criteria; the institutional context; comparisons to alternative options; and the social effects. 相似文献
15.
Electricity sector liberalisation has coincided with a significant decline in R&D spending. This paper reviews the industrial organisation literature on R&D and innovation to explore the likely causes of the decline in R&D spending in the electricity sector. Meanwhile, R&D productivity and innovative outputs in utilities and equipment suppliers appear to have improved. However, a lasting decline in R&D expenditure can have a negative long-term effect on technological progress and innovation in the sector. We conclude that the decline in R&D could have been predicted from the literature. We also discuss the need to reorient the post-liberalisation technology policy. 相似文献
16.
Fragkiskos Filippaios Marina Papanastassiou Robert Pearce Ruth Rama 《Research Policy》2009,38(6):1032-1043
This paper explores the strategic internationalisation of Research and Development (R&D) activities of the world's 100 largest food and beverages (F&B) multinationals (MNEs) in 1996 and 2000 with a sample of nearly 8000 affiliates for each period. We develop a global innovation strategy (GIS) structure where we analyse the R&D internationalisation process of F&B MNEs. We argue that in a fully developed GIS model the sourcing of creative inputs does not come exclusively from a ‘central’ R&D laboratory, but other overseas R&D laboratories or technological affiliates can also undertake genuine knowledge creation activity from capitalising on the scientific heterogeneity fostered in individual host countries as well as distinctive demand conditions. Our results indicate the increasing importance of overseas technological affiliates in the application of a GIS in the leading F&B MNEs, which determine the degree of their technological internationalisation. Two variants of technological affiliates reflect two broad knowledge-related activities, i.e. adaptation and genuine forms of knowledge creation. 相似文献
17.
《Research Policy》2022,51(4):104476
In this study, we combine the resource-based view (RBV) with institutional theory to examine how a firm's cash holding affects its innovation investments and outcomes and explore the contingent roles of political ties and the national anti-corruption policy. Using 18,125 firm-year observations of Chinese firms from 2007 to 2016, we reveal a three-way interactive effect of cash holding, political ties, and the anti-corruption policy on innovation. Before the policy is implemented, cash holding has the greatest positive effect on R&D investment for politically connected firms, and after the implementation this positive effect for these firms is strongest for R&D outcomes. We propose that the logic of resource utilization efficiency implied by the anti-corruption policy strongly motivates politically connected firms to convert their R&D investment into actual output. The theoretical and practical implications are discussed. 相似文献
18.
This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. A survey focusing on econometric studies in this area reveals a plethora of sometimes confusing and frequently contradictory estimates of the response of company-financed R&D to changes in the level and nature of this category of public expenditures. Yet, a theoretical framework seldom is provided within which the empirical results are to be interpreted. Some such structure is necessary, in view of the multiple channels through which public research can affect private R&D performance, especially as not all the effects flow in the same direction. A major cause of “inconsistencies” in the empirical literature is the failure to recognize key differences among the various policy “experiments” being considered — depending upon the economy in which they are embedded, and the type of public sector R&D spending that is contemplated. Using a simple, stylized structural model, we identify the main channels of impact of public R&D. We thus can characterize the various effects, distinguishing between short- and long-run impacts that would show up in simple regression analyses of nominal public and private R&D expenditure variables. Within the context of our simple model it is possible to offer interpretations that shed light on recent cross-section and panel data findings at both high (i.e., national) and low (specific technology area) levels of aggregation. 相似文献
19.
Edward J. Malecki 《Research Policy》1981,10(4):312-334
This paper reviews the literature on the location and regional effects of science and technology (S&T) in the context of developed economies. Two processes associated with the creation of new products, agglomeration and spin-off, act to attract further innovative activity in those regions. Other regions, where R&D and related activities do not take place, are unlikely to be the locations of new-product production, and instead will tend to specialize in the production of standardized products. Both corporate and government R&D rely on pools of technical labor for technological and new-product activities; these pools of mobile workers are most attracted to large urban areas. In only some of these areas, however, does the spin-off process result in the generation of new technology-based firms. The availability of local venture capital appears to be the principal influence on this variation. Government policy regarding science and technology has impacts on regions by contributing to the agglomeration of R&D. Government policy also often fails to recognize that S&T policy and industrial policy have regional effects that may be long-term in nature and most detrimental to those regions whose economies are least competitive. Finally, some priorities for future research on innovation in a regional setting are identified. 相似文献
20.
Integrating knowledge across a firm's value chain (e.g. between R&D, marketing and manufacturing functions), which we denote “Knowledge Integration” (KI), has been consistently found to be a strong predictor of product innovation performance in the management literature. Such cross-functional integration does not occur by chance, but by design, as a result of managerial practices and organizational arrangements. The significant heterogeneity characterizing the diffusion of cross-functional integration across firms is suggestive of the well-known tension between internal and external diffusion of knowledge. In this paper, we argue that the hidden cost of KI is to expose firms to a higher risk of knowledge leakages and provide the first systematic empirical evidence of this apparent tension between internal and external knowledge flows. Based on data from the CMU Survey (one of the rare datasets offering observables on both sides of the tension for a representative set of R&D active firms in the US), we investigate the impact of knowledge spillovers to competitors on internal cross-functional knowledge integration involving the R&D function among manufacturing firms. We find that the intensity of (tacit) R&D knowledge spillovers at the industry-level has a negative and significant impact on the likelihood that firms adopt or achieve KI. Our results therefore suggest that firms may trade their optimal innovative performance against superior appropriability of their rents. 相似文献