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1.
Werner Bnte 《Research Policy》2004,33(10):1635-1655
This paper investigates the effects of interindustry R&D spillovers from publicly financed business R&D on private R&D efforts and productivity using data of West German manufacturing industries. The results suggest that it is important to distinguish between the effects of spillovers from privately and publicly financed business R&D. In particular, estimation results provide evidence of productivity-enhancing effects of spillovers from privately financed R&D while results are less clear-cut for publicly financed R&D. Moreover, there is some empirical evidence that private R&D efforts of higher-technology industries are stimulated by spillovers from privately financed R&D but not by spillovers from publicly financed R&D. However, public funding of R&D in higher-technology industries seems to induce private R&D investments within these industries. 相似文献
2.
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
3.
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
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.
We investigate if and to what extent the receipt of a “selective” subsidy – a public subsidy awarded through a competitive procedure – helps new technology-based firms (NTBFs) to access R&D alliances. In particular, we theoretically enquire and empirically analyze which founding team-level characteristics allow NTBFs to: i) get a selective subsidy; and ii) access an R&D alliance with another firm or a public research organization/university, once the subsidy is awarded. We use a sample of 902 NTBFs that operate in Italy, where industrial policy has never had an explicit and exclusive mandate neither for targeting NTBFs nor for easing their access to R&D networks. By means of several identification strategies and estimation methods, our results point to the relevance of selective subsidies in facilitating NTBFs to enter R&D alliances, independently from the objective of the policy measure. Second, founders’ technical education figures as a key determinant to get the first selective subsidy. Finally, founders’ previous industry-specific work experience allows NTBFs to better exploit the selective subsidy, by positively moderating the impact of the subsidy on the likelihood to establish a corporate R&D alliance. 相似文献
6.
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
7.
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
8.
Wesley M. Cohen Akira Goto Akiya Nagata Richard R. Nelson John P. Walsh 《Research Policy》2002,31(8-9)
National surveys of R&D labs across the manufacturing sectors in the US and Japan show that intraindustry R&D knowledge flows and spillovers are greater in Japan than in the US and the appropriability of rents due to innovation less. Patents in particular are observed to play a more central role in diffusing information across rivals in Japan, and appear to be a key reason for greater intraindustry R&D spillovers there, suggesting that patent policy can importantly affect information flows. Uses of patents differ between the two nations, with strategic uses of patents, particularly for negotiations, being more common in Japan. 相似文献
9.
Empirical evidence on the effectiveness of R&D subsidies to firms has produced mixed results so far. One possible explanation is that firms and project selection rules may be quite heterogeneous both across agencies and across industries, leading to different outcomes in terms of the induced additional private effort. Here we focus on the participation stage. Using a sample of Spanish firms, we test for differences across agencies and industries. Our results suggest that firms in the same industry face different hurdles to participate in different agencies’ programs, that participation patterns may reflect a combination of agency goals, and that patterns differ across high-tech and low-tech industries. 相似文献
10.
Annalisa Caloffi Marco Mariani Federica Rossi Margherita Russo 《Research Policy》2018,47(8):1437-1447
We analyse whether public subsidies supporting collaborative research and development (R&D) projects in small and medium-sized enterprises (SMEs) are able to encourage persistent R&D investment and interorganisational networking more than subsidies supporting individual R&D projects. Adopting a counterfactual approach to policy evaluation, we compare subsidies for collaborative R&D and for individual R&D implemented in the same Italian region in the same period. Our findings suggest that, once public support is no longer available, the two subsidies have different effects on different types of SMEs. If the policymakers’ objective is to increase the number of R&D-performing SMEs over time, they should provide subsidies for collaborative R&D to firms with modest R&D experience. If their objective is to increase the amount of spontaneous R&D investment over time, they should target SMEs with some prior R&D experience, using either subsidy. Finally, if their objective is to induce SMEs to network with external organisations, subsidies for collaborative R&D projects should be preferred to subsidies for individual R&D projects. 相似文献
11.
Links with science have been argued to improve the (innovation) performance of firms. Yet we still know comparatively little about the project-level characteristics affecting the organization of such links. Our study, based on a sample of 52 projects carried out by a multinational company in the semiconductor industry, reveals that the knowledge attributes of a project help in predicting how the R&D activities will be organized. In particular, basic projects are likely to be developed through formal cooperative agreements with universities. Such projects also tend to be strategically less important. For strategically more important projects, in contrast, and for those where the knowledge to be developed is particularly novel to the firm, the firm is more likely to resort to formal contracting with a university for a specific component of the R&D project, usually early on in the project. 相似文献
12.
Under what conditions do firms benefit from the research efforts of other organizations? 总被引：1，自引：1，他引：0
Although R&D spillovers play a key role in the battle for technological leadership, it is unclear under what conditions firms build on and benefit from the discoveries of others. The study described here empirically examines this issue. The findings indicate that, depending on technological opportunities, firm size and competitive pressure, the net impact of R&D spillovers on productivity can be either positive or negative. Specifically, we find that although spillover effects are positively associated with the technological opportunities that a firm faces, this relationship is reversed when firm size is considered. Whilst external R&D affects large self-reliant firms negatively, its impact on the productivity of smaller firms (who usually introduce incremental innovations that are characterized by a strong reliance on external technologies) is positive, and even higher than that of their own R&D. We also demonstrate that the economic payoff for firms’ own R&D is lower when they face intense competition. In cases of low-appropriability, however, spillover effects are more positive, allowing firms to increase their performance using the inventions of others. 相似文献
13.
《普罗米修斯》2012,30(1):97-111
New technology-based firms (NTBFs) greatly contribute to the dynamic efficiency of the economic system. To perform this role, NTBFs need external financing. However, private financing of this type of firm is particularly subject to market inefficiencies. This seems to recommend policy intervention and NTBFs often find support through payment of direct public subsidies. When these are based on ex ante selective screening procedures of applicants and awarded competitively, direct public support may exert a positive effect on the performance of NTBFs beyond the amount of the subsidy. By picking promising projects, governments may signal the quality of a firm to third parties, thereby lowering information asymmetries. This paper contributes to the literature on the differing impact of various subsidies on firm performance by crossing the evaluation dimension (i.e. selective vs. automatic subsidies) with the dimension of the specific goal (R&D-enhancing vs. other measures) for which a subsidy may be implemented. Our results show that the evaluation mechanism and the goal of the subsidy are both important dimensions in the policy design domain and that selective R&D subsidies outperform other types of scheme in fostering NTBF performance. 相似文献
14.
We analyze Spain's National Pharmaceutical Research Program using detailed firm-level data. We find differences between ex ante announced evaluation criteria and ex post implementation. This suggests that judging R&D programs on their design, rather than their implementation, may be misleading. We also uncover that the apparent discrimination against non-European firms can be interpreted as a premium to having local production facilities. Overall, the program values firms on the basis of criteria, such as R&D investment and patent spending, consistent with empirically tested measures of innovative activity. 相似文献
15.
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
16.
This study investigates how R&D subsidy and non-R&D subsidy affect entrepreneurial firms’ initial public offering (IPO) performance in an emerging economy like China. Analyzing data from 269 IT (information technology) entrepreneurial firms in China, we found that R&D subsidy has an inverted U-shape effect on IPO performance, while non-R&D subsidy has a positive effect on IPO performance. Furthermore, both state ownership and patent intensity moderate the inverted U-shape relationship between R&D subsidy and IPO performance. In contrast, neither of them moderates the positive relationship between non-R&D subsidy and IPO performance. These findings contribute to the literature on the effectiveness of government subsidy by highlighting the symbolic effect of government subsidy on external financing in emerging economies, and offer important practical implications to entrepreneurial firms and government funding agencies in China. 相似文献
17.
Government R&D subsidies as a signal for private investors 总被引：1，自引：0，他引：1
Robin Kleer 《Research Policy》2010,39(10):1361-1374
Government subsidies for R&D are intended to promote projects with high returns to society but too little private returns to be beneficial for private investors. This may be caused by spillovers or a low appropriability rate. Apart from the direct funding of these projects, government grants may serve as a signal for good investments for private investors. We use a simple signaling model with different types of R&D projects to capture this phenomenon. The agency has a preference for basic research projects as they promise high expected social returns, while banks prefer applied research projects with high private returns. In a setup where the subsidy can only be used to distinguish between basic and applied research projects, government agency’s signal is not very helpful for banks. However, if the subsidy is accompanied by a quality signal, it can lead to increased or better selected private investments. 相似文献
18.
回应“在获得政府研发补贴后，企业职能背景多样的高管团队能否帮助企业优化资源整合与分配，降低企业研发风险、提高研发活动预期收益”的问题，为进一步优化政府研发补贴政策制定和实施提供微观经验证据和理论依据。基于高层梯队理论与信息决策理论，以2008—2018年我国A股上市企业非平衡面板数据为样本，实证检验政府研发补贴对企业研发投入的影响以及高管团队职能背景多样性对政府研发补贴效应的调节作用。结果显示：政府研发补贴对企业研发投入有显著的正向影响，并且该促进作用在非国有企业组中更加明显；整体而言，高管职能背景多样化有利于政府研发补贴政策效应的发挥，激励企业增加研发投入，但影响效果也会受到企业性质和企业规模的影响。由此提出，创新政策制定者在确定评价指标和甄选帮扶对象时可将企业性质和企业内部高管团队特征纳入考量指标；企业在招贤纳士时要重视高管团队整体职能背景的互补性与完备性。 相似文献
19.
政府创新补贴是一国扶持农业企业技术创新的重要政策工具,政策目标是促进农业企业的R&D投入杠杆效应而非形成补贴依赖,但补贴绩效如何尚缺乏系统研究。本文利用手工方式从涉农上市企业公开披露信息整理出的2012-2014年三年样本数据,构建联立方程模型实证分析了政府补贴对农业企业R&D投资的影响效应及其差异性。研究结果发现,政府补贴对涉农企业R&D投入的激励效应显著,但行业之间存在较大差异;涉农企业的绩效增长短期对主营业务R&D投入会发生杠杆效应,但长期来看效应微弱,R&D投资行为具有一定的补贴依赖倾向。此外,涉农上市企业内部治理与经营水平也是影响政府补贴对R&D创新投入效率的重要因素。最后,本文从政府补贴的资助对象、方式和监管补贴用途等方面提出了相应的政策建议。 相似文献
20.
Jarle Møen 《Research Policy》2007,36(9):1443-1464
Public R&D subsidies aim to target particularly risky R&D and R&D with large externalities. One would expect many such projects to fail from a commercial point of view, but they may still produce knowledge with social value. Such knowledge is likely to be embodied in workers or teams of workers. I test for knowledge diffusion from subsidised technology firms transmitted through the labor market. The specific case analysed is a series of Norwegian IT-programs so far considered unsuccessful. It has been argued that know-how built up during the programs still ‘fertilize’ the IT-industry. I find limited support for this claim. 相似文献