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Displaying results 1 to 4 of 4.

  1. The determinants of R&D investment
    the role of cash flow and capabilities
    Author: Bogliacino, Francesco; Cardona, Sebastian Gómez
    Published: December 2010
    Publisher:  European Commission, Seville, Spain

    In this paper we have estimated a behavioural equation for R&D investment. We assess the impact of liquidity constraints and capabilities, measured respectively as internal cash flow and distance from the technological frontier. Our estimation is... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 610
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    In this paper we have estimated a behavioural equation for R&D investment. We assess the impact of liquidity constraints and capabilities, measured respectively as internal cash flow and distance from the technological frontier. Our estimation is performed on an industry level panel covering fifteen European countries from 1996 to 2005 and on a sample of European R&D performers extracted from COMPUSTAT covering 2000-2008. Both at industry level and firm level we found that financing constraints exist and that the distance from the frontier negatively affects the decision to engage in R&D. We claim that the implied divergence pattern opens a gap for policy intervention, but that these policies should be correctly tailored and should also promote enablers of technological change.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789279188732
    Other identifier:
    hdl: 10419/202126
    Series: IPTS working paper on corporate r&d and innovation ; no. 2010, 10
    Subjects: scientific research; research and development; new technology; profitability; investment promotion; research report; R&D; liquidity constraints; technological frontier; panel data
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. Corporate R&D and firm efficiency
    evidence from Europe's top R&D investors
    Author: Kumbhakar, Subal; Ortega-Argilés, Raquel; Potters, Lesley; Vivarelli, Marco; Voigt, Peter
    Published: December 2010
    Publisher:  European Commission, Seville, Spain

    The main objective of this study is to investigate the impact of corporate R&D activities on firm performance, measured by labour productivity. To this end, the stochastic frontier technique is used on a unique unbalanced longitudinal dataset on top... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 610
    Inter-library loan:
    No inter-library loan

     

    The main objective of this study is to investigate the impact of corporate R&D activities on firm performance, measured by labour productivity. To this end, the stochastic frontier technique is used on a unique unbalanced longitudinal dataset on top European R&D investors over the period 2000-2005. The study quantifies technical inefficiency of individual firms. From a policy perspective, the results of this study suggest that - if the aim is to leverage firms' productivity - emphasis should be put on supporting corporate R&D in high-tech sectors and, to some extent, in medium-tech sectors. On the other hand, corporate R&D in the low-tech sector is found to have a minor effect in explaining productivity. Instead, encouraging investment in fixed assets appears important for the productivity of low-tech industries. Hence, the allocation of support for corporate R&D seems to be as important as its overall increase and an "erga omnes" approach across all sectors appears inappropriate. However, with regard to technical efficiency, R&D intensity is found to be a pivotal factor in explaining firm efficiency. This is true for all industries.

     
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789279189463
    Other identifier:
    hdl: 10419/202127
    Series: IPTS working paper on corporate r&d and innovation ; no. 2010, 11
    Subjects: scientific research; research and development; new technology; profitability; investment promotion; research report; Corporate R&D; productivity; technical efficiency; stochastic frontier analysis
    Scope: 1 Online-Ressource (circa 29 Seiten), Illustrationen
  3. The job creation effect of R&D expenditures
    Author: Bogliacino, Francesco; Vivarelli, Marco
    Published: April 2010
    Publisher:  European Commission, Seville, Spain

    In this study we use a unique database covering 25 manufacturing and service sectors for 15 European countries over the period 1996-2005, for a total of 2,295 observations, and apply GMM-SYS panel estimations of a demand-for-labour equation augmented... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 610
    Inter-library loan:
    No inter-library loan

     

    In this study we use a unique database covering 25 manufacturing and service sectors for 15 European countries over the period 1996-2005, for a total of 2,295 observations, and apply GMM-SYS panel estimations of a demand-for-labour equation augmented with technology. We find that R&D expenditures - fostering product innovation - have a job-creating effect, in accordance with the previous theoretical and empirical literature discussed in the paper. Interestingly enough, the labour-friendly nature of R&D emerges in both the flow and the stock specifications. These findings provide further justification for the European Lisbon-Barcelona targets.

     
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    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789279157028
    Other identifier:
    hdl: 10419/202120
    Series: IPTS working paper on corporate r&d and innovation ; no. 2010, 04
    Subjects: scientific research; research and development; research expenditure (EU); job creation; new technology; research report; Technological change; corporate R&D; employment; product innovation; GMM-SYS
    Scope: 1 Online-Ressource (circa 27 Seiten)
  4. Profits, R&D and innovation
    a model and a test
    Author: Bogliacino, Francesco; Pianta, Mario
    Published: May 2010
    Publisher:  European Commission, Seville, Spain

    In this article we investigate - both conceptually and empirically - the relationship between three interconnected elements of the Schumpeterian "engine of progress": the ability of industries' R&D efforts to turn out successful innovations; the... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 610
    Inter-library loan:
    No inter-library loan

     

    In this article we investigate - both conceptually and empirically - the relationship between three interconnected elements of the Schumpeterian "engine of progress": the ability of industries' R&D efforts to turn out successful innovations; the ability of innovations to lead to high entrepreneurial profits; the commitment of industries to invest profits in further technological efforts. We build a simultaneous three-equation model - with appropriate lags - and we test it at industry level - for 38 manufacturing and service sectors - on eight European countries over two time periods from 1994 to 2006. The results show that the model effectively accounts for the dynamics of European industries. Our main results are that demand and innovation are the key determinants for firm profitability; second that both technology adoption and R&D concur to improve innovative performance; third, that R&D is path dependent and is negatively related to the distance from the frontier. Finally, manufacturing and services show similar behaviour.

     
    Export to reference management software   RIS file
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789279162428
    Other identifier:
    hdl: 10419/202121
    Series: IPTS working paper on corporate r&d and innovation ; no. 2010, 05
    Subjects: scientific research; research and development; type of business; new technology; profitability; research report; Profits; R&D; Innovation; System Two Stages Least Squares
    Scope: 1 Online-Ressource (circa 23 Seiten)