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1.
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
2.
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
3.
R&D subsidies designed to encourage innovation efforts by firms may have intended and unintended effects on the way they organize their innovation process. We present empirical evidence on how R&D subsidies affect firms’ R&D cooperation strategies. In particular, we investigate whether receiving public R&D subsidies affect the probability that a firm will set up an R&D partnership with a public research organization (PRO), or with other firms. Our main findings are: (i) public support significantly increases the chances that a firm will cooperate with a PRO, and (ii) public support also increases the likelihood that a firm will establish private partnerships, but to a smaller extent and only when firms have intangible knowledge assets. These results suggest that public R&D programmes trigger a behavioural change in firms’ R&D partnerships, alleviating barriers to cooperation. 相似文献
4.
This empirical study examines small firms’ strategies for capturing returns to investments in innovation. We find that small firms’ strategies are qualitatively different from those found in earlier studies of both small and large firms. Most of the small firms examined here find informal means of protection, such as speed to market or secrecy, more important than patenting. Only firms with university cooperation—typically R&D intensive and science-based small firms—were likely to identify patents as the most important method of appropriating innovation returns in their field. Thus, the strategic choice for most small firms is between secrecy and speed to market. Firms that cooperate in innovation with horizontal partners or significantly depend on vertical partners tend to prefer speed, whereas process innovators with modest R&D investments or few cooperative R&D activities display a preference for trade secrets. Indeed, cooperation activities greatly influence the choice of intellectual property strategy for small firms. Earlier research has emphasized patents and trade secrets as key strategies of appropriation, yet these strategies do not appear to be very beneficial for small firms engaged in cooperative innovation. These results raise policy questions regarding the functionality of the existing system of intellectual property rights. 相似文献
5.
This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. A survey focusing on econometric studies in this area reveals a plethora of sometimes confusing and frequently contradictory estimates of the response of company-financed R&D to changes in the level and nature of this category of public expenditures. Yet, a theoretical framework seldom is provided within which the empirical results are to be interpreted. Some such structure is necessary, in view of the multiple channels through which public research can affect private R&D performance, especially as not all the effects flow in the same direction. A major cause of “inconsistencies” in the empirical literature is the failure to recognize key differences among the various policy “experiments” being considered — depending upon the economy in which they are embedded, and the type of public sector R&D spending that is contemplated. Using a simple, stylized structural model, we identify the main channels of impact of public R&D. We thus can characterize the various effects, distinguishing between short- and long-run impacts that would show up in simple regression analyses of nominal public and private R&D expenditure variables. Within the context of our simple model it is possible to offer interpretations that shed light on recent cross-section and panel data findings at both high (i.e., national) and low (specific technology area) levels of aggregation. 相似文献
6.
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
7.
This paper investigates the role of government R&D subsidy programs in stimulating knowledge spillovers. R&D subsidies are an effective public policy instrument when knowledge spillovers exist yet ex ante it is difficult to identify projects that have the greatest potential to increase innovation and economic growth. This paper derives a set of project and firm attributes that the literature finds generate knowledge spillovers and uses data on project proposals to estimate the degree to which a government R&D program conforms. We find that projects that were awarded R&D subsidies were more likely to have attributes such as participation in new research joint ventures and connections to universities and other firms. Following the post-award activities of firm, we find that receipt of a government R&D subsidy increased the funding from other sources when compared to firms that were not awarded funding. 相似文献
8.
The new knowledge acquisition and sharing stage represents the start of the organization's overall knowledge creation process. It is especially important for contributing to the critical foundation of organizational knowledge creation. This study explores the relationship between employees’ knowledge acquisition sources and the patterns of knowledge-sharing behaviors. We use structural equation modeling to test a sample of R&D professionals from high-tech companies in Taiwan. Data analysis suggests that most employees prefer to acquire knowledge from, and share knowledge with, their team members. This implies that greater familiarity between team members and strengthened cooperative relationships foster productivity. Furthermore, employees should be encouraged to participate in professional communities in order to acquire new knowledge. Knowledge acquired via these channels will facilitate the sharing of R&D knowledge within the organization. 相似文献
9.
《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
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.
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
12.
Public procurement has been at the centre of recent discussions on innovation policy. We embed it into the broader framework of public policies to stimulate innovation: regulations, R&D subsidies and basic research at universities. We synthesize the characteristics of all four instruments conceptionally and quantitatively compare their effects on innovation success for 1100 firms in Germany. We find that public procurement and knowledge spillovers from universities propel innovation success equally. The benefits of university knowledge apply uniformly to all firms. However, public procurement is especially effective for smaller firms in regions under economic stress and in distributive or technological services. 相似文献
13.
Sources of innovation and industry-university interaction: Evidence from Spanish firms 总被引：1，自引：0，他引：1
In this paper we use a sample of Spanish innovative firms to identify the determinants of R&D cooperation agreements between five types of partners: firms that belong to the same group; customers and suppliers; competitors; universities; public research centres. We focus on the determinants of R&D cooperation between innovative firms and universities. We used the Spanish version of the Community Innovation Survey (CIS-3) to obtain data about the R&D cooperation of 4150 innovative firms in Spain. To obtain empirical evidence about the determinants of this cooperation, we adopted an integrated approach that enables us to compare the effects of sectorial and individual determinants on the choice of partners. Our results show that a firm's cooperation activities are closely linked to the characteristics of the industry and the characteristics of the firm. These include R&D intensity, size, whether the firm belongs to a group, product and process innovation, and access to public funds for R&D activities. Internal R&D and agreements with customers, suppliers and competitor partners also increase firm's propensity for R&D cooperation with universities. 相似文献
14.
The objective of this paper is to contribute to the empirical literature that evaluates the effects of public R&D support on private R&D investment. We apply a matching approach to analyze the effects of public R&D support in Spanish manufacturing firms. We examine whether or not the effects are different depending on the size of the firm and the technological level of the sectors in which the firms operate. We evaluate the effect of R&D subsidies on the subsidized firms, considering both the effect of subsidies on firms that would have performed R&D in the absence of public support and also the effect of inducement to undertake R&D activities. We also analyze the effect that concession of subsidies might have on firms which do not enjoy this type of support. The main conclusions indicate absence of “crowding-out”, either full or partial, between public and private spending and that some firms - mainly small and operating in low technology sectors - might not have engaged in R&D activities in the absence of subsidies. 相似文献
15.
通过对257家新兴企业中高层管理者和研发人员的调查数据,本文研究了员工信息素养对外部知识效应的影响,重点分析了员工信息素养对外部知识获取与内部创新能力之间关系的调节效应,并运用模糊集定性比较分析（fsQCA）技术探讨了企业规模对员工信息素养的制约效应。结果表明：员工信息素养对技术知识和市场知识的吸收效果均有促进作用;此外,企业规模越大,员工信息素养对技术知识与创新能力之间关系的促进作用越小。本研究结论不仅丰富了员工素养与企业创新等领域的理论空间,同时也为战略性新兴产业企业在开放式创新环境下有效提高员工信息素养、增强外部知识吸收、提升创新能力和创新绩效提供了实践指导。 相似文献
16.
Integrating knowledge across a firm's value chain (e.g. between R&D, marketing and manufacturing functions), which we denote “Knowledge Integration” (KI), has been consistently found to be a strong predictor of product innovation performance in the management literature. Such cross-functional integration does not occur by chance, but by design, as a result of managerial practices and organizational arrangements. The significant heterogeneity characterizing the diffusion of cross-functional integration across firms is suggestive of the well-known tension between internal and external diffusion of knowledge. In this paper, we argue that the hidden cost of KI is to expose firms to a higher risk of knowledge leakages and provide the first systematic empirical evidence of this apparent tension between internal and external knowledge flows. Based on data from the CMU Survey (one of the rare datasets offering observables on both sides of the tension for a representative set of R&D active firms in the US), we investigate the impact of knowledge spillovers to competitors on internal cross-functional knowledge integration involving the R&D function among manufacturing firms. We find that the intensity of (tacit) R&D knowledge spillovers at the industry-level has a negative and significant impact on the likelihood that firms adopt or achieve KI. Our results therefore suggest that firms may trade their optimal innovative performance against superior appropriability of their rents. 相似文献
17.
This paper explores five competing theories for technological knowledge sharing within the globally dispersed R&D function of the multidivisional, multinational firm. These five broad explanations for why a knowledge transaction occurs are: (1) economic, (2) technological, (3) organizational, (4) geographic, and (5) sociological. In addition to occurrence, likelihood of knowledge exchange success prompted by various explanations is considered. Ultimately the determination of which argument—or combination of arguments—offers the greatest explanatory power for the sharing of intermediate technological knowledge may be answered empirically. 相似文献
18.
This study examined how participation in open innovation communities influences the innovative and financial performance of firms commercializing open source software. Using an original dataset of open source companies in the Netherlands, I found that the community participation–performance relationship is curvilinear. In addition, results indicate that extensive technical participation in open source projects is more strongly related to performance for firms that also engage in social (“offline”) community activities, for companies of larger size, and for firms with high R&D intensities. Overall, this research refines our understanding of the boundary conditions under which engagement in community-based innovation yields private returns to commercial actors. 相似文献
19.
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
20.
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