The results of a recent study of the Booz Allen Hamilton Global Innovation 1000 — the 1,000 publicly held companies from around the world that spent the most on research and development in 2004 — may provoke a crisis of faith. The study,a comprehensive effort to assess the influence of R&D on corporate performance, suggests that nonmonetary factors may be the most important drivers of a company’s return on innovation investment.
The authors show using panel data on U.S. firms between 1981 and 2001 that both technology and product market spillovers operate, but that net social returns are several times larger than private returns. The spillover effects are also revealed when they analyze three high-tech sectors in detail - pharmaceuticals, computer hardware and telecommunication equipment.
This paper examines patterns and determinants of overseas R&D expenditure of MNEs, with emphasis on the East Asian experience, using a new panel dataset relating to U.S.-based manufacturing MNEs over the period 1990-2001. It is found that inter-country differences in R&D intensity of operation of US MNE affiliates are fundamentally determined by the domestic market size, overall R&D capability and cost of hiring R&D personnel.
The authors theory explains how increases in R&D intensity and educational attainment can be equilibrium responses to changing conditions that make growth more difficult.
This study analyses how public R&D financing impacts the labour demand of companies. The statistical method employed in the study takes into account the possibility that receiving public support may be an endogenous factor. Results suggest that public R&D financing increases both group-level and domestic R&D employment.
The authors use panel data for nine industries to evaluate research and development investments in New Zealand over the past forty years. They estimate the impact of R&D stocks in a particular industry on output per person in that industry and on output per person in the rest of the economy.
This report is intended as an analytic paper that can inform further consideration and consultation on these issues, including in the context of the Australian
Government’s plans to develop quality and accessibility frameworks for publicly funded research and to reassess the performance monitoring framework for science and innovation more broadly.
Given the increasing competitiveness and greater geo-political significance of higher education and research, and the under-developed profile of many new HEIs, this study seeks to examine the processes and strategies being devised by new HEIs to grow research.
Using a game theoretical model on firms simultaneous investments in product and process innovation, the authors deduct and empirically test hypotheses on the optimal R&D portfolio, investment, performance, and dynamic efficiency of R&D for acquisitions and in independently competing firms. They use Community Innovation Survey data on Italian manufacturing firms.
This paper analyzes the impact of agency problems on two entrepreneurs’ choice whether to carry out a stand-alone or a joint project.