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1.
Investments in modernization, innovation and gains in productivity: Evidence from firms in the global paper industry 总被引：1，自引：0，他引：1
This paper examines the impact of investments in modernization and innovation on productivity in a sample of firms in the global pulp and paper industry. This industry has traditionally accounted for significant amounts of employment and capital investment in North America and Europe. In contrast to much of the existing literature which focuses on the impact of R&D and patents on firms’ performance and productivity, we examine data on actual investment transactions in four main areas: (i) mechanical, (ii) chemicals, (iii) monitoring devices and (iv) information technology. We find that firms that implemented a greater number of investment transactions in modernization achieved higher productivity, and these estimated quantitative effects are greater than the impact of standard innovation variables such as patents and R&D. Investment transactions in the information technology and digital monitoring devices imparted a particularly noticeable boost to productivity. These results are obtained after controlling for other firm-specific variables such as capital intensity or mergers and acquisitions. Thus, firms’ decisions to undertake investments in modernization and incremental innovations appear to be critical for achieving gains in productivity, compounding to form meaningful differences in performance, productivity and competitive position across firms in the longer run. For some of the traditional industries like pulp and paper, R&D and patents seem to be particularly poor indicators of innovation and, more generally, how firms go about achieving gains in productivity. 相似文献
2.
Chunjia Han Stephen Rhys Thomas Mu Yang Petros Ieromonachou Hongru Zhang 《The Journal of High Technology Management Research》2017,28(1):93-109
Research and development (R&D) investment activity plays a crucial role in developing high-tech industries. In recent decades, China has made sustained investments in its domestic high-tech industries, with the goal of increasing their productivity. This paper investigates the effect of this investment on relative R&D efficiency across China's high-tech sectors. Data Envelopment Analysis (DEA) was used to generate quantitative indices for sector comparisons. The analysis of this study indicates that overall R&D investment efficiency did not increase from 1998 to 2009, despite R&D expenditure increasing by 2188%. Over the same period, most sectors suffered from decreasing returns to scale (DRS), presumably also reflecting the inefficient R&D investment. Most of the sectors showed significant fluctuation on R&D investment efficiency. This research result indicates that the problem of China's high-tech industry may be from the inefficiency of its technology commercialization processes, and therefore represents a critical parameter for policy makers and managers. 相似文献
3.
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
4.
《Research Policy》2023,52(8):104807
Defense R&D represents the largest component of US public R&D spending and historically has promoted a wide range of civilian innovations. However, the empirical evidence on the impact of defense R&D is scant and it does not provide conclusive results on the possible crowding-in (-out) effects on private R&D investment. Exploiting a longitudinal dataset linking public R&D obligations to private R&D expenditures for US states, we investigate the impact of defense R&D on privately-financed R&D. To address potential endogeneity in the allocation of funds, we use an instrumental variable identification strategy leveraging the differential exposure of US states to national shocks in federal military R&D. We document considerable crowding-in effects with elasticities in the 0.11–0.14 range. These positive effects extend also to the labor market, when focusing on employment in selected R&D intensive industries and especially for engineers. 相似文献
5.
本文研究了服务贸易开放影响工业绿色全要素生产率的阻滞和疏通机制。结果显示：在工业全行业层面,研发投入的技术促进传导机制存在阻滞,提升研发人员和研发经费投入的匹配度可以疏通这种阻滞的机制。分行业层面,在清洁行业和低技术密集型行业,研发投入的技术促进传导机制存在阻滞,可以通过提升研发投入匹配度来疏通阻滞的机制。但是在高技术密集型行业,通过提升研发投入匹配度带来的疏通作用不大。在高度污染行业,这种传导机制并没有受阻,相对比较通畅。 相似文献
6.
《Research Policy》2022,51(10):104601
We study differences in the returns to R&D investment between German manufacturing firms that sell in international markets and firms that only sell in the domestic market. Using firm-level data for five high-tech manufacturing sectors, we estimate a dynamic structural model of a firm's discrete decision to invest in R&D and use it to measure the difference in expected long-run benefit from R&D investment for exporting and domestic firms. The results show that R&D investment leads to higher rates of product and process innovation among exporting firms and these innovations have a larger economic return in export market sales than domestic market sales. As a result of this higher payoff to R&D investment, exporting firms invest in R&D more frequently than domestic firms, and this endogenously generates higher rates of productivity growth. We use the model to simulate the introduction of export and import tariffs on German exporters, and find that a 20 % export tariff reduces the long-run payoff to R&D by 24.2 to 46.9 % for the median firm across the five industries. Overall, export market sales contribute significantly to the firm's return on R&D investment which, in turn, raises future firm value, providing a source of dynamic gains from trade. 相似文献
7.
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
8.
This paper examines patterns and determinants of overseas R&D investment by US-based manufacturing MNEs using a new panel dataset over the period 1990–2004. The analysis reveals that R&D intensity of operation of US MNE affiliates is determined mainly by the domestic market size, overall R&D capability and cost of hiring R&D personnel. There is no evidence to suggest that R&D specific incentives have a significant impact on inter-country differences in R&D intensity when controlled for other relevant variables. Overall, our findings cast doubts on the efficacy of efforts by host country governments to entice MNE affiliates to engage in domestic R&D activity, in a context where R&D is becoming a truly global activity. 相似文献
9.
The establishment of science parks is employed as a vital strategy for developing high-tech industries in many countries. Whether new technology-based firms (NTBFs) located within science parks are, in comparison to their counterparts located outside of science parks, more efficient in terms of R&D investment remains less explored. The purpose of this paper is to compare the R&D productivity of NTBFs located within and outside of science parks by measuring the elasticity of R&D with respect to output. Using panel data for NTBFs located within and outside the Hsinchu Science Industrial Park (HSIP) in Taiwan, our empirical findings show that the elasticity of R&D with respect to outputs of NTBFs located within HSIP is significantly higher than that of other firms. These findings further reveal that NTBFs located in the science park invest more efficiently. Our results also indicate a slight advantage in R&D for firms in the science park, arising from the fact that the science park offers a clustering effect and establishes links among firms and research institutions. 相似文献
10.
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
11.
This paper studies the impact of R&D spending on output as well as forecasting the impact of a regionally enhanced R&D tax credit on the ‘user cost’ (or price) of R&D expenditure and subsequently the demand for R&D. The example we use of a ‘disadvantaged’ region is Northern Ireland (partly because it has the lowest levels of R&D spending in the UK, and partly because the necessary data is available for this region). We find that in the long run, R&D spending has a mostly positive impact on output across various manufacturing industries. In addition, plants with a zero R&D stock experience significant one-off negative productivity effects. As to the adjustment of R&D in response to changes in the ‘user cost’, our results suggest a rather slow adjustment over time, and a long-run own-price elasticity of around −1.4 for Northern Ireland. We also find that to have a major impact on R&D spending in the Province, the R&D tax credit would need to be increased substantially; this would be expensive in terms of the net exchequer cost. 相似文献
12.
F.M. Scherer 《Research Policy》1982,11(4):227-245
This paper presents for the U.S. economy a technology flows matrix tracing 1974 industrial R&D expenditures from their industries of origin to industries in which the use of resulting products and processes was anticipated. The distinction between origin and using industries is crucial to understanding the links between R&D and productivity growth. A regression analysis reveals high social rates of return and substantial productivity impacts from R&D attributed to industries of use. 相似文献
13.
(International) R&D collaboration and SMEs: The effectiveness of targeted public R&D support schemes
This study analyses the impact and effectiveness of targeted public support for R&D investment at the firm level. We test whether the policy design aiming at incentivizing (international) collaboration and R&D in SMEs achieves input as well as output additionality. Our results show that the targeted public subsidies trigger R&D spending, especially so in internationally collaborating SMEs. We further evaluate the different impact of privately financed and publicly induced R&D investment on innovation performance. The results confirm that the publicly induced R&D is productive as it translates into marketable product innovations. While both types of R&D investments trigger significant output effects, the effect of policy-induced R&D investment on sales from market novelties is highest for international collaborators as well as for SMEs. 相似文献
14.
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
15.
The impact on innovation performance of different sources of knowledge: Evidence from the UK Community Innovation Survey 总被引：2，自引：0，他引：2
Marion Frenz 《Research Policy》2009,38(7):1125-1135
This paper considers two main categories of knowledge sources and their impact on the innovation performance of enterprises: own-generation through R&D versus knowledge transfers via bought-in resources for innovation purposes, external collaborations on R&D, and internal sources within the company. The national and international dimensions of both internal networks and external collaborative agreements are explored, as is the interaction between R&D and other sources. Data from two UK Community Innovation Surveys allow for the lagging of relevant variables. Our results suggest that, while intra-company knowledge sources, own-generation, and bought-in R&D matter in innovation performance, the benefits of joint innovation efforts in the form of cooperation are less clear. The international dimension of internal networks is highly relevant, and interactions between the own-generation of knowledge and external sources increase the innovation potential of enterprises. 相似文献
16.
This paper studies the impact of foreign direct investment (FDI) on total factor productivity (TFP) for a cross sectional sample of Chinese industrial sectors. The possible determinants of TFP are sought with special focus on FDI. An endogeneity test is performed in order to avoid inconsistent results. Evidence indicates that foreign presence, the level of R&D and the firm size are the most important factors enhancing TFP in Chinese industries. The findings from this study support the argument that attracting FDI is an effective way of introducing advanced technology to host countries. 相似文献
17.
《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
18.
Based on a spatial extension of an R&D investment model, this paper measures the macroeconomic impact of the French R&D policy mix on business R&D using regional data. Our measure takes into account not only the direct effect of policies but also indirect effects generated by the existence of spatial interaction between regions. Using a unique database containing information on the levels of various R&D policy instruments received by firms in French NUTS3 regions over the period 2001–2011, our estimates of a spatial Durbin model with structural breaks and fixed effects reveal the existence of a negative spatial dependence among R&D investments in regions. In this context, while a-spatial estimates would conclude that all instruments have a crowding-in effect, we show that national subsidies are the only instrument that is able to generate significant crowding-in effects. On the contrary, it seems that the design, size and spatial allocation of funds from the other instruments (tax credits, local subsidies, European subsidies) lead them to act (in the French context) as beggar-thy-neighbor policies. 相似文献
19.
The importance of design to company and national performance has been widely discussed, with a number of studies investigating the value or impact of design on performance. However, none of these studies has measured design investment as an input against which performance can be compared. As yet, there is no established way in which design investment might be measured. Without such a method, we cannot develop a reliable picture, akin to that for R&D spending, on the impact of design spending on company performance. 相似文献
20.
本研究基于2012～2018年涉及六个行业的高新技术企业上市公司数据研究不同研发强度下企业资本结构与经营绩效之间的关系，研究结果表明两者之间存在双门槛效应，门槛值分别为2.500和9.280。在低水平和高水平的研发强度下企业资产负债率对于经营绩效的负向影响较低，而中等水平下两者的负向效应较高。且三个区间的负向效应均远低于不存在研发投入变量时的负向影响水平。因而一方面说明企业研发投入存在最优区间，另一方面说明研发投入确实有助于削弱企业资产负债率对经营绩效的负向影响。在其他因素的研究中也发现，企业规模、盈利能力等因素也对企业经营绩效存在非线性的作用，企业应定期检测这些指标以确保其保持在最优范围内，全面提升企业绩效。 相似文献