Corporate R&D and firm efficiency: evidence from Europe’s top R&D investors.

Marco Vivarelli, Subal C. Kumbhakar, Raquel Ortega-Argilés, Lesley Potters, Peter Voigt

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

40 Citazioni (Scopus)

Abstract

The main objective of this study is to investigate the impact of corporate research and development (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 comprising top European R&D investors over the period 2000–2005. In this framework, this 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, the 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 and this turns out to be true for all industries.
Lingua originaleEnglish
pagine (da-a)125-140
Numero di pagine16
RivistaJournal of Productivity Analysis
Volume2012
Stato di pubblicazionePubblicato - 2012

Keywords

  • corporate R&D
  • firm efficiency

Fingerprint

Entra nei temi di ricerca di 'Corporate R&D and firm efficiency: evidence from Europe’s top R&D investors.'. Insieme formano una fingerprint unica.

Cita questo