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1.
Using longitudinal data of Spanish manufacturing companies, we study the dynamic, bidirectional relationship between firm research and development (R&D) intensity and corporate diversification in an organic growth setting. Our empirical approach accounts for the different sources of endogeneity. Although we find a positive linear effect of R&D intensity on related diversification, the effect of related diversification on R&D intensity assumes the form of an inverted U. Thus, the effect of related diversification on R&D intensity is positive, but marginally decreases for moderate levels of related diversification. Such an effect can become negative, however, for high levels of related diversification. Additionally, as a consequence of dynamics, the effects after one year are substantially lower than the overall effects that occur over several years. 相似文献
2.
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
3.
Maria Garcia-Vega 《Research Policy》2006,35(2):230-246
This paper analyses the impact of technological diversity on innovative activity at the firm level. The empirical study on a panel of European R&D active companies shows that both R&D intensity and patents increase with the degree of technological diversification of the firm. Possible explanations are that, on the one hand, a firm that diversifies its technology can receive more spillovers from other (related) technological fields. On the other hand, diversification can reduce the risk from technological investments and it creates incentives to spend more on R&D. The paper provides empirical evidence relevant to the diversity-specialization innovation debate. 相似文献
4.
This paper examines the relationship between (outside-in) open innovation and the financial performance of R&D projects, drawing on a unique dataset that contains information on the open innovation practices, management and performance of 489 R&D projects of a large European multinational firm. We introduce two types of open innovation partnerships – science-based and market-based partnerships – and examine their relationships with project financial performance. In addition, we investigate whether the open innovation—project performance relationships are influenced by the way how R&D projects are managed. Our results show that R&D projects with open innovation partnerships are associated with a better financial performance providing that they are managed in the most suitable way. Market-based partnerships are positively correlated with project performance if a formal project management process is used; however these partnerships are associated with a lower performance for loosely managed projects. In contrast, science-based partnerships are associated with higher project revenues for loosely managed projects only. 相似文献
5.
《Research Policy》1999,28(2-3):251-274
Large multinational firms are the drivers for the globalization of R&D and innovation activities. There was a strong movement to establish a transnational configuration of R&D between 1985 and 1995. In recent years, however, R&D strategies and international location decisions have changed substantially. This paper is based on an in-depth analysis of R&D internationalization in 21 large corporations in Europe, Japan and the US. Our findings suggest that transnational corporations have tended to consolidate and streamline their organizations since the mid-1990s. Distributed R&D activities and globally-dispersed innovation processes have resulted in overly complex and unmanageable organizational architectures. This has induced firms to search for `leaner' and more effective types of managing their international portfolio of innovation activities. We learned that the spatial distribution of learning and R&D performing activities is something different than the spatial distribution of coordination and control. Many companies in our sample have adapted a strategy of multiple centers of learning with one dominant center of coordination. A framework is developed to serve as a basis for analyzing different patterns of internationalization of R&D and innovation, and for assessing the appropriate mechanisms to coordinate and control an international network of technological competence centers. 相似文献
6.
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
7.
Steven BownsIan Bradley Paula KneeFiona Williams Geoffrey Williams 《Research Policy》2003,32(6):991-1002
The benefits and priorities of public funding of R&D programmes are the subject of considerable research and debate and a number of methodologies have been suggested which might allow us to arbitrate on the issues involved. This paper looks at one method that is actually used in practice to evaluate and rank publicly funded R&D programmes in the UK. We describe the improvements that have been made to the mapping measurement impact (MMI) model, which is used by the UK Department of Trade and Industry to assess the economic benefit to industry of different research projects funded as part of the United Kingdom National Measurement System. The model has been in use for more than 5 years as a means to compare publicly funded R&D programmes. It allows evaluation of their benefit and prioritisation of future funding schemes and has potential for wider application in other areas of public R&D investment both inside and outside the UK. 相似文献
8.
Marvin A. Sirbu 《Research Policy》1978,7(2):176-196
The French Aid to Development Program provides a reimbursable subsidy to industrial firms for the development of specific new products and processes. The program has been used variously to induce traditional firms to be more technically venturesome; to average the risk where the project is too large for the firm; to support projects with important external benefits; and as a general aid in support of French industrial policy. The program serves as a substitute for the risk capital market for the small and medium firm. The bulk of the funds have gone to large corporations for medium-sized projects. For firms with a portfolio of R&D investments, aid for any specific project acts by displacement to fund the firm 's most marginal project. 相似文献
9.
Anders Broström 《Research Policy》2010,39(10):1311-1320
This paper studies the role of geographic proximity for interaction on R&D, by exploring the special case of formalised university–industry interaction in the engineering sector. While numerous studies find that geographic proximity facilitates spillover effects between university and industry by utilising evidence from e.g. patenting and publishing activities, the geographical dimension is largely understudied in studies that report evidence from direct interaction. A series of interviews with R&D managers suggests that linkages in geographical proximity are more likely than distant linkages to generate impulses to innovation and create significant learning effects at the firm. Similarly, geographic proximate interaction is more likely to successfully contribute to R&D projects with short time to market. For long-term R&D projects, geographic proximity is generally seen as a less critical factor. A survey to 425 R&D managers in Swedish engineering firms provides evidence that supports these hypotheses. 相似文献
10.
《Research Policy》1999,28(2-3):215-230
In the 1980s, Canadian industrial R&D abroad has grown substantially. In 1995, R&D expenditures by Canadian affiliates, only in the United States, represented some US$1.4 billion and employed some 6300 persons. Nearly 60 Canadian-owned and -controlled corporations conduct overseas R&D, mostly in the US, Western Europe, Japan, and Australia. Canadian corporations are performing commercial R&D abroad in order to support their manufacturing subsidiaries and to come closer to customers and markets. A secondary motivation is to hire skilled personnel, monitor foreign technological development and increase the inflow of new ideas into the corporation. They also chose friendly socio-political environments from a regulatory point of view. Technology transfer and adaptation to local markets is also an important mission of the foreign R&D establishment. Foreign R&D activities of Canadian firms are fairly decentralized and autonomous. Most of the foreign subsidiaries undertook R&D abroad before they were acquired by the Canadian corporation; also the number of Canadian managers was reduced and the R&D projects were usually decided in the affiliate. Three main types of expatriate R&D were found: a majority of the subsidiaries were producing goods in the same or related industries as in Canada (such as machines, transportation equipment or housing equipment). A second group of firms were vertically integrated firms, that conducted process research in Canada and advanced materials and final products research abroad, closer to the markets for this type of goods; they were active in the chemical and metal industries. Only one truly global corporation was found, with an international division of labor among its many foreign laboratories. The degree of autonomy varied across the three types of expatriate R&D units. In the last 10 years, the internationalization of industrial research and development has increased very rapidly. Foreign-affiliated corporations operating in the United States represented some 9.3% of all company-funded R&D in that country in 1987, and close to 18% in 1995 (Dalton and Serapio, in this issue). Similarly, foreign R&D expenditures by US-affiliated companies abroad have more than tripled. Canadian industrial R&D abroad has grown at a similar pace. It now includes over 100 research facilities owned by some 60 Canadian corporations, with subsidiaries in the United States, western Europe, Japan, Australia, and several developing countries (China, Brazil, India, Mexico, and Turkey). However, little is known about the characteristics of this foreign R&D: missions, managerial practices, budgets or innovative activity. This study is the first to present original data from a survey of these facilities, complemented by secondary material from annual reports and the financial and technical press. It follows a previous study of Canadian patents abroad, which concluded that diversification into related activities was the overseas strategy of Canadian multinational corporations (MNCs) with foreign R&D activities [Niosi, J., 1997. The globalization of Canadian R&D, Management International Review 37 (4) (in print).]. The first section of this paper presents (1) a short summary of some relevant literature on the management of foreign R&D, (2) the design of the study, (3) the results, and (4) a comparison of theories with Canadian data. It offers conclusions about the existence of three distinctive types of internationalization in Canadian R&D, each with different strategies and outcomes. 相似文献
11.
This paper analyzes how different R&D strategies of incumbent firms affect the quantity and quality of their entrepreneurial spawning. When examining entrepreneurial ventures of ex-employees of firms with different R&D strategies, three things emerge: First, firms with persistent R&D investments and a general superiority in sales, exports, productivity, profitability and wages are less likely to generate entrepreneurs than firms with temporary or no R&D investments. Second, start-ups from knowledge intensive business service (KIBS) firms with persistent R&D investments have a significantly increased probability of survival. No corresponding association between the R&D strategies of incumbents and survival of entrepreneurial spawns is found for incumbents in manufacturing sectors. Third, spin-outs from KIBS-firms are more likely to survive if they start in the same sector, indicating the importance of inherited knowledge. These findings suggest that R&D intensive firms are less likely to generate employee start-ups, but their entrepreneurial spawns tend to be of higher quality. 相似文献
12.
We empirically test whether public R&D subsidies crowd out private R&D investment in Flanders and Germany, using firm level data from the Flemish and German part of the Community Innovation Surveys (CIS III and IV). Both the non-parametric matching estimator and the conditional difference-in-differences estimator with repeated cross-sections (CDiDRCS) clearly indicate that the crowding-out hypothesis can be rejected: funded firms are significantly more R&D active than non-funded firms. In the domain of additionality effects of R&D subsidies, this paper is the first to apply the CDiDRCS method. 相似文献
13.
This paper investigates whether a green kind of design helps firms increase their capabilities for inventing in the environmental domain and whether it does so more than ‘standard’ design. It also investigates whether the effect of ‘green-matching’ between new design and technologies is conditional on firms’ innovative capabilities, as reflected by their R&D expenditure. We address these research questions with respect to the world's top R&D investors, looking at their intellectual property rights at the United States Patent and Trademark Office (USPTO) and proposing an original textual identification of green designs and trademarks. We find that green design increases environmental inventions by top R&D investors, and to a greater extent than non-environmental ones. Standard design also stimulates environmental inventions, but to a lesser extent than green design. The ‘green-matching’ actually helps, but internal innovative capabilities are required to make it effective: a green-tech ‘prize’ emerges from green design, but only once a minimum threshold of R&D expenditure has been reached. 相似文献
14.
As the influences of science and technology on its national economy have increased, each country has devised various funding programs for research and development (R&D) projects. Numerous studies have been conducted to evaluate the performance of such R&D projects. In most studies, the performances were measured in terms of an ordinal Likert scale, but they were treated as continuous variables. Much important information can be buried when a categorical Likert scale is treated as continuous variable. In this paper, we treat Likert scales as categorical and apply quantification method II to analyze the relationship between short- to mid-term performance factors and long-term impact factor of R&D projects. We apply the proposed approach to the survey data obtained from the Science and Technology Promotion Fund in Korea. The results of this paper are expected to contribute to a better understanding of the impact of R&D funding. 相似文献
15.
《The Journal of High Technology Management Research》2000,11(1):93-107
This project examines how Australian high technology companies approach the synergy between corporate R&D and strategic management. Research hypotheses are tested empirically using the data collected from a number of Australian firms in three selected industrial sectors: information technology, pharmaceuticals and biotechnology. The results suggest that the responding firms have been aware of the importance of integrating R&D decision making with corporate strategic management as well as the consistency between R&D and competitive strategies. In particular, the development of higher value-added products with a focus on a particular market segment has been stressed in directing corporate R&D programs and projects. 相似文献
16.
针对现有方法因没有考虑项目间的相互影响而不能直接用于R＆D项目组合选择的情况,通过对R＆D项目间的相互影响进行分析,将项目间的相互影响分为三类,并分别对这三类影响进行了数学描述。然后分三种情况建立了带有相互影响的R＆D项目组合选择的0-1规划模型。最后进行了实例验算,说明了该模型的具体用法和应用前景。 相似文献
17.
This paper presents a new methodology for valuing new drug applications (NDA) and the R&D of pharmaceutical companies based on real option models. Traditional valuation models fail to capture the full value created by R&D to pharmaceutical companies, because they do not correctly model the nature of the process of developing a new drug. It is a series of consecutive phases from R&D to commercialisation, where each phase is in fact an option on executing the following phase, i.e. a compound option. For a NDA, the R&D phase can best be presented as a 6-fold compound option on the commercialisation phase. Using a generalisation of Geske’s compound option model, we derive a closed-form solution for a n-fold compound option model, and apply it to calculate the value of a NDA using sector average figures. 相似文献
18.
评价技术创新项目的方法有很多,其中实物期权是最合适的方法,但实物期权只适合于单个项目的评价,不适合于同时评价多个项目。针对实物期权方法评价多个项目时存在的不足,建立了实物期权与项目费用最佳投资相结合的技术创新项目评价与中止综合模型框架,认为应该用该理论模型对我国企业技术创新作出投资决策有很大的现实意义和可操作性。 相似文献
19.
《Research Policy》2022,51(7):104514
Scholars tend to assume that publicly funded R&D projects, which are competitively selected, outperform projects, which receive funding through a political selection process. In this paper, we empirically explore this assumption, examining the outcomes of 321 R&D projects that were funded by the U.S. Department of Energy's Hydrogen Program. Between 2003 and 2011, projects in this program could not only receive funding by means of a competitive selection process, but also by being earmarked by a U.S. member of Congress. We find that, whereas earmarked projects receive considerably lower peer review evaluation scores than non-earmarked projects, they do not consistently underperform in terms of the productivity, spillovers, and novelty of research- and science-based outcomes. Post-hoc analyses provide indications that this misalignment is driven by the existence of a bias of peer reviewers toward earmarked projects. Jointly, our findings challenge the dominant assumption that competitively selected projects always outperform politically selected ones in the setting of public R&D grants. In this way, we provide academics and policy makers with a richer perspective on the advantages and liabilities of earmarks. 相似文献
20.
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