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1.
Ashok V. Desai 《Research Policy》1980,9(1):74-96
This paper surveys the trends in industrial R&D in India over the last two decades. It shows that there has been a rapid rise in R&D expenditure and a shift in its composition towards in-house corporate R&D and away from R&D in government laboratories, which is explained by the laboratories' lack of market orientation and manufacturing experience. According to cross-section studies of corporate R&D, larger companies aim towards larger technological advances and take a longer view; but the overall composition of corporate R&D shows no discernible change. This apparent inconsistency is explained by the development of the technology market. Much R&D was triggered off by the need for import replacement arising from import controls till 1965 and later by the need for product diversification in the recession. But construction of new plants and mechanization for speeding up operations, activities where sustained R&D can yield large firms a steady flow of innovations, were unimportant or infrequent, and the demand for technology they gave rise to was largely met by imports. 相似文献
2.
Ram Mudambi 《Research Policy》2011,40(3):429-440
The external environment is characterized by periods of relative stability interspersed with periods of extreme change, implying that high performing firms must practice exploration and exploitation in order to survive and thrive. In this paper, we posit that R&D expenditure volatility indicates the presence of proactive R&D management, and is evidence of a firm moving from exploitation to exploration over time. This is consistent with a punctuated equilibrium model of R&D investment where shocks are induced by reactions to external turbulence. Using an unbalanced panel of almost 11,000 firm-years from 1997 to 2006, we show that greater fluctuations in the firm's R&D expenditure over time are associated with higher firm growth. Developing a contextual view of the relationship between R&D expenditure volatility and firm growth, we find that this relationship is weaker among firms with higher levels of corporate diversification and negative among smaller firms and those in slow clockspeed industries. 相似文献
3.
《The Journal of High Technology Management Research》2014,25(1):83-95
To speed up strategic alliance in R&D activities, different forms of R&D organization structures can be summarized into different roles including the input-oriented, the output-oriented, and the matrix organization structure. The most common mode of strategic alliance consists of horizontal and vertical integrations. However, the study adopting absorptive capacity to examine the impacts of different R&D organization structures on the performance of firms at different alliance modes has never been discussed. Therefore, the paper employs absorptive capacity to mediate the relationships between different R&D organization structures and the performance of firms. Since the theory of transaction cost economics is inadequate for addressing how well the technological knowledge develops in the organization. A conceptual model to analyze the tension between product strategies and their strategy implementation is proposed to challenge the vacancy. Practical investigation shows that a matrix R&D organizational structure mainly transfers knowledge to input-oriented R&D organizational structures in horizontal integration, and mainly integrates capabilities from output-oriented organizational structures in vertical integration. The result implies that stronger institutional environments lead to a stronger link between product strategies and their performance in vertical integration. Oppositely, the link is strengthened if more favorable attitudes and weaker management controls are present in horizontal integrations. 相似文献
4.
This paper analyzes how founders and their families influence R&D intensity. Information on R&D comes from a large-scale, bi-annual survey among listed German firms. We find that R&D intensity is higher in firms that are actively managed by the family. The impact of family control (via voting rights) is negative, but mostly not significant. While this negative family control effect is in line with hitherto existing literature, the positive impact of family management is surprising. Indeed, this positive effect disappears if we follow previous research and use R&D information from financial statements. We show that this puzzling result is related to corporate opacity. Opaque family managed firms report too conservative R&D expenditures, especially if they face financial constraints. This leads to an under-estimation of R&D intensity in these firms if accounting figures are used. 相似文献
5.
《The Journal of High Technology Management Research》2023,34(2):100479
Agency theory views board independence, retaining a high fraction of outside directors, as a hallmark of effective corporate governance. Consequently, many boards have become so “independent” that over 50% of S&P 1500 firms only have one inside director, the ‘lone-CEO’. A small but quickly growing body of ‘pro-insider’ research in agency theory stresses the value of retaining a few additional inside directors to ensure that outside directors are better informed about R&D investments, and to help guide the CEO's long-term technology strategy. We extend agency theory by showing how and why different executive roles, namely the CEO, CTO, and CFO result in contradictory motivations towards R&D investments, due to each inside director's unique resource dependency with key stakeholders. Specifically, we argue that a conflict exists between the CTO's strategic control role and the CFO's financial control role and that the conflict has contrasting consequences for R&D investments. We use panel data analysis to test our theory on a sample of 390 S&P 1500 firms from the high-tech industries, over the period 2002–2015. We find that R&D-intensity increases significantly when a CEO is accompanied by a CTO inside director. Conversely, we find that R&D-intensity substantially decreases when a CEO is joined with a CFO inside director. In fact, a lone-CEO only board is associated with a higher R&D-intensity than a board with both the CEO and CFO. Therefore, whether the CTO or CFO accompanies the CEO on the board matters for preserving R&D expenditure. 相似文献
6.
Peter Augsdorfer 《Research Policy》2005,34(1):1-11
This paper confirms the importance of path dependency in the accumulation of firm-specific technological competencies. It shows that firms are guided by the selective logic of path dependency in their innovation processes, even if management has no part in decisions to invest in a new business idea. The research focuses on the output of bootlegging, defined as research in which motivated corporate entrepreneurs pursue innovative activity, which they themselves define and secretly organise. Bootlegging emerges as an incremental continuous trial-and-error learning process in R&D and its uncertainty is no better or worse than that of ‘normal’ R&D. The fear of some managers that violation of strategic direction setting and total anarchy will ensue from bootlegging is unfounded. 相似文献
7.
The various strands of extant empirical research are inconclusive about the complementarity or substitutability between different innovation mechanisms, such as internal and external R&D. Using a panel sample of 83 incumbent pharmaceutical firms covering the period 1986-2000, our empirical analysis suggests that, instead of a clear-cut answer to the question of whether internal and external R&D are complementary or substitutive innovation activities, there appears to be a contingent relationship between internal and external R&D strategies in shaping a firm's innovative output. The results from our study indicate that the level of in-house R&D investments, which is characterized by decreasing marginal returns, is a contingency variable that critically influences the association between internal and external R&D strategies. In particular, internal R&D and external R&D, through either R&D alliances or R&D acquisitions, are complementary innovation activities at higher levels of in-house R&D investments, whereas at lower levels of in-house R&D efforts, internal and external R&D turn out to be substitutive strategic options. 相似文献
8.
《Research Policy》2023,52(8):104837
Global productivity growth has either stagnated or declined, despite continued technological innovations with the rise of knowledge-intensive intangibles that arise from the growth of knowledge stock (R&D activities). Understanding the root causes of this paradox in the context of growing economies requires an investigation of whether local knowledge diffusion can explain firm-level productivity differences, including key constraining factors like sources of financing or corporate governance structure. Using financial data of 7970 Indian firms over a 20-year period and clustering firms across industries, we assess the impact of R&D stock that is external to the firm through estimating both within (intra) and between (inter) industry spillovers. We find that both R&D and non-R&D-performing firms benefit from ‘between industry’ spillovers. We further show that firms with better access to finance achieve higher productivity, not only through their own R&D capital stock but also via both types of industry-level knowledge spillover. We allow for the two key sources of international spillovers namely import intensity and FDI. While import-intensive firms experience lower productivity, FDI mitigates this adverse productivity effect across knowledge-intensive exporting firms. The paper concludes that financially unconstrained firms and firms with greater corporate board connectedness derive positive industry-level spillover effects, reflecting intra- and inter-industry as domestic spillover or local value-chain effect in the literature on technological innovation. 相似文献
9.
C. Annique Un 《Research Policy》2008,37(10):1812-1828
Despite the growing involvement of multinational enterprises (MNEs) in foreign-based research and development (R&D), there has been little research comparing R&D investments of subsidiaries of foreign MNEs to domestic firms. Subsidiaries of foreign MNEs enjoy advantages that help them compete against domestic firms. However, when deciding on R&D investments, these advantages exert competing influences on their R&D investment decision. On the one hand, better access to and transfer of knowledge and technologies from the MNE and other subsidiaries and centers of excellence may encourage the subsidiary of a foreign MNE to invest less in R&D relative to a domestic firm. On the other hand, better access to sources of capital through the MNE and other subsidiaries may induce the subsidiary to invest more in R&D in comparison to domestic firms. We find that subsidiaries of foreign MNEs invest less in total R&D than domestic firms. The reason is that they invest less in external R&D than domestic firms; however, they have similar internal R&D investments compared to domestic firms. These findings support the notion that the transfer of technology and knowledge from other parts of the MNE acts as a substitute for the purchase of external R&D while internal R&D acts as a complement to the technology and knowledge transferred from other parts of the MNE. 相似文献
10.
There have been many previous studies exploring the relationship between R&D performance and firm size; however, to our knowledge, this issue has never been examined in terms of R&D output elasticity. This paper therefore sets out to re-examine the relationship of the two variables using R&D output elasticity as a measure of R&D performance. A total of 126 manufacturing firms, listed on the Taiwan Stock Exchange over the period from 1994 to 2000, are taken as the analytical sample. One practical consideration for choosing these particular firms is the relative abundance of data available for the variables for a longitudinal investigation. The estimates suggest that there is an approximating ‘U-type’ relationship between R&D productivity and firm size. This finding suggests that both large and small firms have higher R&D productivity, and even when the sample is divided into the high-tech and traditional sectors, such a finding still holds. Therefore, in contrast to the prior studies, this study shows that size offers advantage in R&D performance. 相似文献
11.
Patent trolls (or sharks) are patent holding individuals or (often small) firms who trap R&D intensive manufacturers in patent infringement situations in order to receive damage awards for the illegitimate use of their technology. While of great concern to management, their existence and impact for both corporate decision makers and policy makers remains to be fully analyzed from an academic standpoint. In this paper we show why patent sharks can operate profitably, why they are of growing concern, how manufacturers can forearm themselves against them, and which issues policy makers need to address. To do so, we map international indemnification rules with strategic rationales of small patent-holding firms and large manufacturers within a theoretical model. Our central finding is that the courts’ unrealistic consideration of the trade-offs faced by inadvertent infringers is a central condition for sharks to operate profitably. 相似文献
12.
This study empirically examines whether the research and development (R&D) activities of foreign-owned firms in Japan differ notably from the R&D activities of domestically-owned firms based on a firm-level panel dataset. Our study carefully disentangles the significant differences in R&D investment behavior of subsidiaries due to three different reasons: having a foreign parent, corporate group affiliation, and the degree of relatedness between business units. The results reveal the following. First, firms that are majority-owned by another firm are less active in R&D than independent firms. Second, foreign ownership does not matter if the parent firm is from a G7 country, but R&D intensity is significantly and positively associated with foreign ownership if the parent firm is from a non-G7 country. Finally, for subsidiaries whose business is related to that of their parent firm, the R&D intensity is lower if the parent is a domestic firm, but higher if it is a foreign firm. These findings imply that globalization and the integration of firms may not only affect production patterns and global supply chains, but may also have an important impact on the level of domestic R&D activities. 相似文献
13.
This paper investigates domestic and foreign innovating firms’ determinants of R&D collaboration with domestic universities and public knowledge institutes in Finland and the Netherlands. We put particular emphasis on the impact of incoming academic spillovers on the probability to co-operate with these public R&D institutes.Based on data from Community Innovation Surveys we find that foreign firms in the Netherlands are less likely to co-operate with domestic public knowledge institutions than domestic firms, while in Finland no significant difference can be detected. Another result is that incoming knowledge spillovers are an important determinant for R&D collaboration with domestic public knowledge institutions in both countries. In case of foreign firms in Finland, incoming knowledge spillovers affect the probability to co-operate with public knowledge institutions more positively compared to domestic firms. For the Netherlands no substantial difference could be found in this respect. Further, innovating firms in Finland that require academic or basic knowledge do not co-operate significantly more with public knowledge institutions than those that need applied knowledge. At the same time they are willing to share knowledge with public R&D partners. In the Netherlands innovating firms that require relatively more basic than applied knowledge, increase the probability of co-operation with Dutch universities and public knowledge institutions but there is reluctance to share proprietary knowledge with public R&D partners. For both countries no significant difference between foreign and domestic firms with regard to academic knowledge requirements could be found. This raises the issue whether Finnish innovation policies with a strong focus on R&D co-operation provide incentives for strategic behaviour by domestic public partners to put more emphasis on applied research. 相似文献
14.
《Research Policy》2022,51(7):104550
Applying a within-firm perspective to the topic of the division of innovative labor, I explore the organization of scientific discovery at the firm level — specialized or integrated with invention. Using data on inventors and authors related to U.S. publicly-traded science-performing firms for the period 1980–2015, the paper deepens our understanding of the determinants and the tradeoffs associated with the strategic choice of scientific discovery organization. I show that integration is related to a tradeoff between short-term applied R&D and long-term fundamental R&D; while integration is beneficial for invention, it has adverse effects on its scientific output, which decrease invention in the long run. The negative relationship between integration and publication reduces the direct increase in patents due to integration by approximately 90%. To better understand firms’ R&D organizational choice, I present internal and external factors that have implications on the benefits and costs associated with integration: reliance on science, stage of technology, external market for technology, and R&D spillins. Finally, I present consistent implications in terms of market value and show that value creation is related to organizational structure. 相似文献
15.
《普罗米修斯》2012,30(1):113-149
This paper explores the impact of a specific R&D policy instrument, the Italian Fondo per le Agevolazioni della Ricerca (FAR), on industrial R&D and technological output at the firm level. Our objective is threefold: first, to identify the presence or absence of private R&D investment additionality/crowding-out within a pooled sample and in various firm subsets (identified by region, size, level of technology, and other features), while also taking into account the effect of single policy instruments or mixes of them. Secondly, to analyse the output (innovation) additionality by comparing the differential impact of privately funded R&D and publicly funded R&D expenditure on applications for patents filed by firms. Thirdly, the paper will compare the structural characteristics of firms showing additionality with those of firms showing crowding-out, in order to determine the firm characteristics associated with successful policy interventions. Our results suggest that FAR is effective in the pooled sample, although no effect emerges in some firm subsets. In particular, while large firms seem to have been decisive for the success of this policy, small firms present a more marked crowding-out effect. Furthermore, the firms’ growth strategies and ability to transform R&D input into innovation output (patents) seem to have a positive effect in terms of additionality. 相似文献
16.
Joaquín Artés 《Research Policy》2009,38(1):120-132
I present new econometric evidence on the relation between market structure and R&D using data on Spanish firms. I adopt a different approach from previous studies by distinguishing between long-run and short-run decisions of firms regarding R&D. I assume that the long-run or strategic decision is whether to conduct R&D or not, and the short-run choice is how much to invest once the firm decides to be innovative. I argue that market structure affects long-run R&D decisions but does not affect short-run ones. A Heckman-type selection model is used to test such a relation. The results are robust to several specifications and measures of monopoly power. 相似文献
17.
Meng-chun Liu 《Research Policy》2012,41(6):1107-1120
China has become a hot spot of R&D internationalization and a growing number of Taiwan-based firms have indeed set up R&D units in China. Taking into account China's substantial regional variations in economic development, innovation capacity, and knowledge productivity, such notions as regional innovation system (RIS) and local innovative milieu may become more relevant to the study on relationships between China and its inward R&D internationalization. Therefore, the key issue for this paper is what locational advantages of an RIS within a host country affect the network linkages and networking strategy of multinational corporations’ (MNCs’) offshore R&D units. The paper aims to enrich the current understanding of R&D internationalization in several ways. First, the paper attempts to examine the R&D networking underlying R&D internationalization by Taiwan-based firms in China, with particular reference to the sub-national level inside China. Second, the paper tries to establish a link between the literature of R&D internationalization and that of RIS, with a modified version of Dunning's eclectic paradigm. Efforts are made to map the relationship between foreign subsidiaries’ local R&D networks and their host RISs inside China. Third, the paper takes advantage of a government databank to adopt a quantitative approach, the Seemingly Unrelated Bivariate Probit Regression model, with foreign subsidiaries as the unit of analysis, to highlight the role played by some aspects of the RIS in determining the local R&D networking of Taiwanese subsidiaries in China. Our evident shows that MNCs’ offshore R&D units that purse home-based technology exploitation strategy, the mainstream strategy regarding the developing host country, tend to be located in a host region with a strong knowledge application and exploitation subsystem, while an RIS with a strong knowledge generation and diffusion subsystem, within such a developing country as China, may induce MNCs’ local R&D units to pursue home-base technology augmenting strategy. On balance, not only the location choice but also the local R&D linkages of MNCs’ offshore subsidiaries are related to appropriate fits between the RIS and the subsidiaries’ innovation network inside the host country. 相似文献
18.
In an increasingly globalizing and knowledge-based world economy, the declining importance of R&D activity in India is a matter of concern. This paper analyzes the determinants of R&D behaviour of Indian enterprises over the 1990s in the context of the reforms of 1991 and their impact on the R&D behaviour of MNE affiliates and local enterprises. The analysis suggests that although average levels of spending have fallen, increased competition due to liberalization seems to have pushed local firms to rationalize their R&D activity and make it more efficient. Also, R&D spending seems to rise more than proportionally with firm size after a certain threshold level has been reached. The analysis brings out differences in the nature of R&D activity of MNE affiliates and local firms. Local firms direct their R&D activity primarily towards the assimilation of imported technology, and to providing a backup to their outward expansion via exports and FDI. MNE affiliates, on the other hand, focus on exploiting the advantages of India as an R&D platform for their parents. The paper is concluded with some policy implications of the findings. 相似文献
19.
We examine the determinants of firms’ innovation success, using the firm-level data from the Japanese National Innovation Survey. We focus on the relationship between organizational and human resource management practices for research and development (R&D) and product/process innovation. We find that interdivisional cooperation/teams and the creation/relocation/integration of R&D centers are positively associated with both product and process innovation. Having board members with an R&D background is positively associated with product innovation, implying that top-down R&D decision-making may be important for firms to introduce new products. Among the factors examined, personnel assessment reflecting R&D outcomes appears to have an especially strong relationship with product innovation. Moreover, the positive relationship between the creation/relocation/integration of R&D centers and innovation success suggests that drastic organizational changes can work as a clear signal of firms’ determination to pursue an innovation-oriented strategy and help to accelerate innovation success. 相似文献
20.
This paper builds on agency and institutional theory to extend the analysis of the effects of ownership and control on R&D investments by considering the influence of different types of ownership and of institutional corporate governance systems. Our empirical analysis is based on a unique dataset of 1000 firms publicly-traded in six European countries (France, Germany, Italy, Norway, Sweden and the UK). Controlling for industry- and firm-level effects, our findings show that higher shareholding by families is negatively associated with R&D investment. Moreover, widely-held firms invest less in R&D in the United Kingdom than in Continental European countries, thus suggesting the existence of a greater pressure towards the reduction of R&D in market-based governance systems. The results are robust against possible sample selection biases due to firms’ discretional R&D disclosure. 相似文献