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1.
Drawing on organizational, managerial and financial theories, we explore whether acquirers become more innovative and the factors that can enhance their absorptive and financial capacity to benefit from acquisition. Over a 3-year post-acquisition window, our sample of 2624 high technology US acquisitions records early reverses followed by positive R&D-intensity changes and insignificant R&D productivity changes. Controlling for acquisition endogeneity and deal-specific effects, significant acquirer characteristic effects emerge. In related acquisitions, a large knowledge base tends to increase R&D productivity, consistent with an enhanced capacity to select and absorb targets. In unrelated acquisitions, however, this relationship becomes increasingly negative as knowledge base concentration increases, consistent with arguments for an impaired peripheral vision and core rigidities. High leverage levels raise R&D productivity gains, consistent with enhanced monitoring induced efficiency. However, high leverage growth reduces R&D-intensity, consistent with increased financial constraints and short-termism. 相似文献
2.
Firms continuously report increased competitive value gains from the use of business intelligence and analytics (BI&A), however, little is known about how insights from BI&A are transformed to added value to date. We have conducted fourteen in-depth, semi-structured interviews with a sample of informants in CEO positions, IT managers, CIO, Heads of R&D, as well as Market Managers from nine medium or large-sized European firms. Applying the absorptive capacity’s theoretical lens, we have provided evidence that absorptive capacity’s capabilities are an underlying foundation in the process of transforming BI&A triggered insights into valuable knowledge. Moreover, this process is supported by technological, human, and relationship assets. 相似文献
3.
The paper adds to the existing literature on the determinants of government spending in Research and Development (R&D) by considering the role of strategic interactions among countries as one of the possible competing explanations, within a spatial econometric framework. We account for several factors affecting national levels of public R&D spending, including (i) the international context – i.e. Lisbon strategy; (ii) country characteristics – level of private R&D, GDP, trade openness and the National System of Innovation; (iii) countries’ similarities in relation to (a) trade and economic size and (b) sectoral specialization. The analysis is carried out on 14 European countries. First, we find that factors traditionally affecting the level of public R&D expenditure, such as the scale of the national economy, trade openness, sectoral specialization and private R&D, significantly influence the level of public R&D in European countries between 1994 and 2006. Interestingly, the introduction of the Lisbon strategy does not seem to have affected changes in the levels of public R&D spending. Second, by using different weight matrices, we confirm the existence of strategic interactions in relation to R&D spending among European countries with similar economic, international trade and sectoral structure characteristics, though not geographically close. 相似文献
4.
S. Negassi 《Research Policy》2004,33(3):365-384
The scope of this paper is to report new empirical evidence on the determinants of R&D co-operation. Indeed, the literature on the capabilities of firms emphasises the role of knowledge in the performance and evolution of firms who use knowledge developed in others to build their own knowledge capital. R&D co-operation between firms is one of the many strategies by which this knowledge may be transmitted. Several theoretical models have stressed that R&D co-operation is more likely when the level of spillovers is high. While this supposition is used in many theoretical models, it has rarely been tested before. Our results do not lend strong support to this intuition. Indeed, our spillover variables (national pure spillovers, national rent spillovers and imports of machine tools), which were supposed to match the theoretical notion of spillovers used in these theoretical models have a positive but not a significant role when explaining R&D co-operation. The R&D co-operation increases with size and with R&D intensity, but not with market share. It also increases with the budget spent on paying license fees and on acquiring patents and labour from foreign firms. In this study, we also analyse the determinants of innovation. In more precise terms, we compare the effects of R&D co-operation to those played by traditional internal factors and those exerted by external, pure and rent spillovers on the innovation capacity of the firms. Our results show that the commercial success of innovations of French firms depends mainly on size, market share, R&D intensity and human capital. Inward FDI from industrialised countries exerts a positive and significant effect. The finding highlights the important role of the absorptive capacity of firms. Spillover measurements, such as the acquisition of machine tools, foreign patents, licenses, and technological opportunities have a positive impact on innovation. 相似文献
5.
Stronger protection of patent rights is thought to spur innovation through securing returns to R&D investments. Those investments must be financed, however, suggesting that the responsiveness of R&D to patent reforms varies with financial development levels. We examine the joint impact of domestic and international financial-market development and patent protection on R&D intensities in 22 manufacturing industries in 20 OECD countries for the period 1990-2009. We show that stronger patent rights increase R&D intensities in patent-intensive industries, accounting for the need for external financing and the amount of tangible assets. The primary impact varies across types of financial development: patent protection raises R&D in high-patent industries where countries have more limited equity and credit markets. In contrast, in countries with more developed bond markets industry R&D is more sensitive to patent rights. Interestingly, patent rights in countries that are more exposed to foreign direct investment increase R&D intensities at all levels of financial development. 相似文献
6.
This paper aims to analyse the risk of intellectual property (IP) infringements by competitors from abroad and in particular to consider whether this risk is higher for international innovating firms. We distinguish three different types of IP infringements from abroad: the usage of firms’ technical inventions, product piracy, and copying of corporate names and designs. Our analysis rests on the German data from the Europe-wide Community Innovation Survey (CIS). We use a unique data set of about 900 observations, which are retrieved from two survey waves. While the earlier wave contains information about international and domestic innovation activities, the later wave reports IP infringements. In a second analysis, the likelihood of infringements from innovation host countries and no-innovation host countries abroad is examined. Before the empirical analysis, an exploratory study was carried out in China with interviews of German firms with innovation activities in China and with a legal advisor for small and medium-sized German enterprises. The results show that firms with international R&D activities are increasing their chances of losing technological knowledge to their local competitors abroad. R&D activities in countries with weak intellectual property rights increase the risk for all types of IP infringements compared to domestic R&D activities. Infringements by competitors from the host country are driven by the production of new produces in this country. Export intensity is the major driver of infringements from no-innovation host countries. R&D activities in China and North America also increase the risk of an infringement. However, firms that innovate only in their home country experience significantly more product piracy cases than international innovating firms. 相似文献
7.
《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
8.
Eric C. Wang 《Research Policy》2010,39(1):103-116
This paper investigates the determinants of R&D investment at the national level with an emphasis on the roles of patent rights protection, international technology transfer through trade and FDI, and economic growth, in addition to the essentials of human capital accumulation and the number of scientific researchers. The Extreme-Bounds-Analysis (EBA) approach is applied to examine the robustness and sensitivity of these factors.The results of the EBA tests on data from 26 OECD countries from 1996 to 2006 showed that tertiary education and the proportion of scientific researchers in a country were robust determinants that had positive effects on R&D intensity. Foreign technology inflows had a robust and negative impact on domestic R&D. Patent rights protection and the income growth rate are fragile determinants of R&D investment. 相似文献
9.
The current paper is concerned with exploring the role of absorptive capacity in extending the reach of innovation-related collaboration in high technology small firms. Drawing on survey data from a sample of 316 Dutch high-tech small firms, engaged in 1245 collaborations, we explore the relationship between R&D expenditure and distance to collaboration partners. In general terms, we find most partners to be ‘local’. However, controlling for a variety of potential influences, higher R&D expenditure is positively related to collaboration with more distant organizations. The implications of our results for policy, practice and future research are discussed. 相似文献
10.
Joaquín M. Azagra-Caro Fragiskos Archontakis Antonio Gutiérrez-Gracia Ignacio Fernández-de-Lucio 《Research Policy》2006,35(1):37-55
The growing importance of regions in the analysis of innovation and the pressure on European universities to interact with their environment justify this article. It argues that faculty support for the objectives of university-industry relations (UIR) does not vary across disciplines and does not respond to university encouragement in a region with low absorptive capacity. These results are in contrast with those obtained in studies of technology leading countries like the USA. Furthermore, incentives for UIR may generate unpredicted dynamics while instruments to cooperate are not significant. Finally, support for the objectives of UIR should not be confused with the degree of R&D cooperation. The former is sensitive to university age while the latter is sensitive to gender, discipline, commitment to R&D and university encouragement. Empirical evidence is obtained from a sample of faculty from the Valencian Community (Spain) and analysed through a set of models for discrete choice. 相似文献
11.
国际化已成为新兴经济体国家实现创新追赶的重要战略选择。本文利用2014-2016年879家高新技术企业相关数据,针对企业多种国际化行为对创新绩效的影响进行理论分析与实证检验。并突破传统资源观和学习观,验证企业吸收能力在国际化行为与创新绩效间的中介作用及研发投入的调节作用。结果表明：1.国际化行为显著促进企业创新绩效提升,其中海外人才促进效果最强,海外出口次之,海外研发最弱。2.企业吸收能力在部分国际化行为与创新绩效间存在中介作用。3.研发投入在不同国际化行为与吸收能力间均存在调节作用,效果不同。 相似文献
12.
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
13.
《国际创新研究学报(英文)》2023,7(2):101-114
This study examines how internal research and development (R&D), external knowledge acquisition, and R&D contracted with other companies interact in local and foreign-owned enterprises in post-communist economies. A large sample of firm-level data from the Business Environment and Enterprise Performance Survey (BEEPS) across 26 post-communist countries (including European Union (EU) members and non-EU states of Eastern Europe, Caucasian countries, and Central Asian countries) and country-level data from the Global Innovation Index and the International Property Rights Index were used. The findings show that enterprises with majority foreign ownership are relatively more likely to acquire external R&D. We demonstrate that the R&D behavior of enterprises with majority foreign ownership and local firms are interrelated, that is, we find a synergy effect. According to the results, decisions on internal R&D and the purchase of external knowledge for enterprises with majority foreign ownership are similar to those of local firms. However, enterprises with foreign ownership contract R&D with other companies more often if local firms conduct internal R&D. These results indicate the presence of knowledge spillover and cross-learning effects in both types of enterprises in post-communist countries. Finally, we find that the national innovation environment is not significant for the R&D intensity of enterprises with majority foreign ownership, which suggests their high dependence on the parent structures of multinational enterprises. 相似文献
14.
《The Journal of High Technology Management Research》2001,12(1):77-91
New product development, specifically the ability of a company to develop products that outperform their competitors in the marketplace has been shown to benefit from the acquisition and use of external information. In this paper, we examine the relationship between absorptive capacity and new product development performance. Absorptive capacity is defined as the ability to acquire external information, assimilate it, and exploit it for commercial ends [Adm. Sci. Q. 35 (1990) 128]. We would expect that greater absorptive capacity, which provides a greater capability to acquire and exploit external information, would lead to more effective new product development. In this paper, we test this proposition using data from the computer modem industry over a 24-year period. Absorptive capacity is operationalized by R&D intensity, and new product development performance is measured by the technical performance of new products. Our results indicate that the relationship between absorptive capacity and new product development performance is nonlinear. An “inverted-U” shape suggests diminishing returns for absorptive capacity. Implications and possible directions for future research are discussed. 相似文献
15.
Jan Hendrik Fisch 《Research Policy》2003,32(8):1381-1396
This paper presents a new communication-economic network model to predict the allocation of R&D activities in MNCs. While traditional models examine the influencing factors of R&D internationalization separately for each country and come to a one-dimensional result, this multi-dimensional approach integrates the influencing factors in a way that allows to identify an efficient configuration of the entire R&D subsystem in many countries at a time. It captures the information flows and employs a genetic algorithm to find a dispersion of R&D activities in which the problems of international communication have the least negative impact. The model is tested with data from seven MNCs covering a range of 48 countries as potential R&D locations. 相似文献
16.
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
17.
This paper explains and evaluates the evolution of the UREs (University-run Enterprises) in China by building a new theoretical framework on the university-industry relationship. Unlike the Triple Helix or the New Economics of Science that advocates a certain type (integration or separation) of university-industry relationship, we take a contingent or context-specific perspective on the relationship, having the context of developing countries in mind. The framework developed in this paper explains in what condition universities would keep distance from industry or become entrepreneurial to take a part in the functions of industry (i.e. setting up and running their own business enterprises). In this typology the basic determinants are internal resources of university, absorptive capacity of industrial firms and existence of intermediary institutions, as well as the propensity of university for UREs. The paper has argued that the Chinese universities since the market-oriented reform had strong propensity to pursue economic gains and strong internal (R&D and other) resources to launch start-ups, and thus established their own firms (i.e. UREs), given the low absorptive capacity of industrial firms and the underdeveloped intermediary institutions. The recent adjustment of the UREs in China can also be understood in terms of changes in the above three factors, such as universities’ weakened propensity to pursue economic gains, relative decline of superiority of university resources, and improved external environment. 相似文献
18.
《国际创新研究学报(英文)》2023,7(1):47-67
In recent decades, with the rapid development of the knowledge economy and science, countries have embraced technical innovation and have gradually increased investment in research and development (R&D). A vast literature indicates that the relationship between R&D and firm performance is highly complex. The evidence suggests that R&D positively influences firm performance, yet findings on the process by which this happens are mixed. Rigorous analyses are required on how R&D investments affect energy consumption. This study explores the impact of R&D investment on the performance and energy consumption of 476 firms in Ethiopia by employing a combination of fixed-effect, propensity score matching, and endogenous treatment effect estimation methods. The empirical results reveal that investment in R&D positively influences both innovation and long-term financial performance but negatively impacts short-term financial performance and energy consumption. The results also show that the impacts of R&D activities vary significantly across different categories of firms, confirming that heterogeneity may be an issue among the firms considered. The results also indicate that the availability of credit is a more important moderating factor in the relationship between R&D investment and firm performance than the legal system is. These results have important implications for firms with growing R&D operations, especially those in developing countries such as Ethiopia. Ethiopian firms should invest more in R&D activities, such as in fundamental and applied research, to improve performance and enhance competitiveness. 相似文献
19.
An important characteristic of the role of foreign trade in the technological catch-up of countries is the complementary nature with technological change, human capital development and local R&D efforts. Using cointegration techniques, evidence based on Portuguese long-run growth suggests that by investing in certain capacity-building activities, namely human capital and local R&D efforts, countries can improve their ability to identify, value, assimilate, and apply (or exploit) knowledge that is developed in other (more developed) countries. Although human capital has a stronger direct impact on total factor productivity than internal R&D efforts, the latter's indirect impact, by means of machinery and equipment imports, is tremendous. Trade also emerges as a powerful direct contributor to long-term total factor productivity, especially in its embodied form, through the acquisition of advanced machinery and equipment from more developed countries. The (smaller) productivity enhancing effect of licenses and FDI seems to be strongly dependent on institutional circumstances, namely those related to human capital investments and incentives. 相似文献
20.
Mario Kafouros Chengqi Wang Eva Mavroudi Junjie Hong Constantine S. Katsikeas 《Research Policy》2018,47(7):1243-1255
We examine how the ways in which firms geographically configure their global portfolios of R&D units influence the effectiveness of firms’ own R&D investments and of external technical knowledge in enhancing firm performance. Our analysis indicates that the strength of these effects depends on the extent to which firms spread their R&D units across countries (geographic dispersion of R&D) and the extent to which firms establish multiple R&D units within each country (co-location of R&D). We show that geographic dispersion and co-location are associated with distinct value creation and value capture mechanisms and in turn lead to different performance outcomes. Although geographic dispersion enhances the effects of a firm’s own R&D on its performance, R&D co-location limits such effects. These relationships are reversed when we consider the effects of external technical knowledge on firm performance. R&D co-location, rather than geographic dispersion, is what renders the exploitation of external knowledge more effective in enhancing firm performance. Our results suggest that future research should shift its focus from the degree of R&D globalization to how a portfolio is globalized and geographically structured. 相似文献