IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v80y2022icp882-905.html
   My bibliography  Save this article

Internationalization of innovation and firm performance in the pharmaceutical industry

Author

Listed:
  • Zhai, Zhe
  • Ghosal, Vivek

Abstract

Firms’ strategies and investments related to foreign research and development and innovation have expanded considerably in recent decades. However, studies on the economic effects of this phenomenon remain limited. As there are both benefits and costs to the internationalization of innovation, the final effect on firms’ profits is uncertain. We compile a rich dataset containing information on multinational enterprises in the pharmaceuticals industry in the US and Europe, and use the firms’ patents to construct multidimensional measures of internationalization of innovation related to intensity, experience, and diversity. We then link the patents data to firms’ financials. Our estimates from the dynamic panel and Poisson models reveal that firms’ international innovation activities contribute meaningfully to their profits. Our estimates also reveal that the main channel through which this effect works is enhanced innovation. Based on our empirical results, we discuss business strategies related to the internationalization of innovation.

Suggested Citation

  • Zhai, Zhe & Ghosal, Vivek, 2022. "Internationalization of innovation and firm performance in the pharmaceutical industry," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 882-905.
    • Handle: RePEc:eee:reveco:v:80:y:2022:i:c:p:882-905
    DOI: 10.1016/j.iref.2022.02.058
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056022000788
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2022.02.058?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Peters, Bettina & Schmiele, Anja, 2011. "The contribution of international R&D to firm profitability," ZEW Discussion Papers 11-002, ZEW - Leibniz Centre for European Economic Research.
    2. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    3. Verbeke, Alain & Brugman, Paul, 2009. "Triple-testing the quality of multinationality-performance research: An internalization theory perspective," International Business Review, Elsevier, vol. 18(3), pages 265-275, June.
    4. repec:adr:anecst:y:2005:i:79-80:p:07 is not listed on IDEAS
    5. Michael Noel & Mark Schankerman, 2013. "Strategic Patenting and Software Innovation," Journal of Industrial Economics, Wiley Blackwell, vol. 61(3), pages 481-520, September.
    6. Yuriy Gorodnichenko & Jan Svejnar & Katherine Terrell, 2010. "Globalization and Innovation in Emerging Markets," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 194-226, April.
    7. Bronwyn H. Hall & Adam Jaffe & Manuel Trajtenberg, 2005. "Market Value and Patent Citations," RAND Journal of Economics, The RAND Corporation, vol. 36(1), pages 16-38, Spring.
    8. Zvi Griliches, 1998. "Productivity, R&D, and Basic Research at the Firm Level in the 1970s," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 82-99, National Bureau of Economic Research, Inc.
    9. Vincent L. Barker , III & George C. Mueller, 2002. "CEO Characteristics and Firm R&D Spending," Management Science, INFORMS, vol. 48(6), pages 782-801, June.
    10. David G. Hoopes & Tammy L. Madsen & Gordon Walker, 2003. "Guest editors' introduction to the special issue: why is there a resource‐based view? Toward a theory of competitive heterogeneity," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 889-902, October.
    11. Dirk Czarnitzki & Kornelius Kraft, 2010. "On the profitability of innovative assets," Applied Economics, Taylor & Francis Journals, vol. 42(15), pages 1941-1953.
    12. Daniel Sullivan, 1994. "Measuring the Degree of Internationalization of a Firm," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 25(2), pages 325-342, June.
    13. Iain M. Cockburn & Jean O. Lanjouw & Mark Schankerman, 2016. "Patents and the Global Diffusion of New Drugs," American Economic Review, American Economic Association, vol. 106(1), pages 136-164, January.
    14. Aaron K. Chatterji & Kira R. Fabrizio, 2014. "Using users: When does external knowledge enhance corporate product innovation?," Strategic Management Journal, Wiley Blackwell, vol. 35(10), pages 1427-1445, October.
    15. Jeffrey Furman & Margaret K. Kyle & Alain Cockburn & Rebecca M. Henderson, 2005. "Public & Private Spillovers: Location and the Productivity of Pharmaceutical Research," Annals of Economics and Statistics, GENES, issue 79-80, pages 165-188.
    16. Marjorie A Lyles & Jane E Salk, 1996. "Knowledge Acquisition from Foreign Parents in International Joint Ventures: An Empirical Examination in the Hungarian Context," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 27(4), pages 877-903, December.
    17. Jo Thori Lind & Halvor Mehlum, 2010. "With or Without U? The Appropriate Test for a U‐Shaped Relationship," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 72(1), pages 109-118, February.
    18. Reddy, Prasada, 1997. "New trends in globalization of corporate R&D and implications for innovation capability in host countries: A survey from India," World Development, Elsevier, vol. 25(11), pages 1821-1837, November.
    19. Stephen Bond & Anke Hoeffler, 2001. "GMM Estimation of Empirical Growth Models," Economics Series Working Papers 2001-W21, University of Oxford, Department of Economics.
    20. Jun, Doobae & Ahn, Changmo & Kim, Gwangil, 2017. "Analysis of the global financial crisis using statistical moments," Finance Research Letters, Elsevier, vol. 21(C), pages 47-52.
    21. John Cantwell & Lucia Piscitello, 2005. "Recent Location of Foreign-owned Research and Development Activities by Large Multinational Corporations in the European Regions: The Role of Spillovers and Externalities," Regional Studies, Taylor & Francis Journals, vol. 39(1), pages 1-16.
    22. Masaaki Kotabe & Srini S Srinivasan & Preet S Aulakh, 2002. "Multinationality and Firm Performance: The Moderating Role of R&D and Marketing Capabilities," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(1), pages 79-97, March.
    23. Sun, Xiuli & Li, Haizheng & Ghosal, Vivek, 2020. "Firm-level human capital and innovation: Evidence from China," China Economic Review, Elsevier, vol. 59(C).
    24. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, vol. 9(1), pages 86-136, March.
    25. Zahra, Shaker A. & Hayton, James C., 2008. "The effect of international venturing on firm performance: The moderating influence of absorptive capacity," Journal of Business Venturing, Elsevier, vol. 23(2), pages 195-220, March.
    26. Hall, Bronwyn H. & Mairesse, Jacques & Mohnen, Pierre, 2010. "Measuring the Returns to R&D," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1033-1082, Elsevier.
    27. Singh, Jasjit, 2008. "Distributed R&D, cross-regional knowledge integration and quality of innovative output," Research Policy, Elsevier, vol. 37(1), pages 77-96, February.
    28. Griliches, Zvi, 1980. "R & D and the Productivity Slowdown," American Economic Review, American Economic Association, vol. 70(2), pages 343-348, May.
    29. Trajtenberg, Manuel, 2001. "Innovation in Israel 1968-1997: a comparative analysis using patent data," Research Policy, Elsevier, vol. 30(3), pages 363-389, March.
    30. Chen, Chung-Jen & Huang, Yi-Fen & Lin, Bou-Wen, 2012. "How firms innovate through R&D internationalization? An S-curve hypothesis," Research Policy, Elsevier, vol. 41(9), pages 1544-1554.
    31. Iwasa, Tomoko & Odagiri, Hiroyuki, 2004. "Overseas R&D, knowledge sourcing, and patenting: an empirical study of Japanese R&D investment in the US," Research Policy, Elsevier, vol. 33(5), pages 807-828, July.
    32. Quintás, Mari­a A. & Vázquez, Xosé H. & Garci­a, José M. & Caballero, Gloria, 2008. "Geographical amplitude in the international generation of technology: Present situation and business determinants," Research Policy, Elsevier, vol. 37(8), pages 1371-1381, September.
    33. Yasuyuki Todo & Satoshi Shimizutani, 2008. "Overseas R&D Activities And Home Productivity Growth: Evidence From Japanese Firm‐Level Data," Journal of Industrial Economics, Wiley Blackwell, vol. 56(4), pages 752-777, December.
    34. Bowsher, Clive G., 2002. "On testing overidentifying restrictions in dynamic panel data models," Economics Letters, Elsevier, vol. 77(2), pages 211-220, October.
    35. Patel, Pari & Vega, Modesto, 1999. "Patterns of internationalisation of corporate technology: location vs. home country advantages1," Research Policy, Elsevier, vol. 28(2-3), pages 145-155, March.
    36. Birger Wernerfelt, 1984. "A resource‐based view of the firm," Strategic Management Journal, Wiley Blackwell, vol. 5(2), pages 171-180, April.
    37. Bruce Kogut, 1991. "Country capabilities and the permeability of borders," Strategic Management Journal, Wiley Blackwell, vol. 12(S1), pages 33-47, June.
    38. Pietro Moncada-Paternò-Castello & Marco Vivarelli & Peter Voigt, 2011. "Drivers and impacts in the globalization of corporate R&D: an introduction based on the European experience," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 20(2), pages 585-603, April.
    39. John Cantwell & Elena Kosmopoulou, 2001. "Determinants of Internationalisation of Corporate Technology," DRUID Working Papers 01-08, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    40. F. Chen & X. Sun, 2014. "Urban-rural income polarization and economic growth in China: evidence from the analysis of a dynamic panel data model," Applied Economics, Taylor & Francis Journals, vol. 46(32), pages 4008-4023, November.
    41. Gunnar Fors, 1997. "Utilization of R&D Results in the Home and Foreign Plants of Multinationals," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 341-358, September.
    42. Iqbal, Nasir & Daly, Vince, 2014. "Rent seeking opportunities and economic growth in transitional economies," Economic Modelling, Elsevier, vol. 37(C), pages 16-22.
    43. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    44. Arundel, Anthony & Kabla, Isabelle, 1998. "What percentage of innovations are patented? empirical estimates for European firms," Research Policy, Elsevier, vol. 27(2), pages 127-141, June.
    45. Pakes, Ariel, 1985. "On Patents, R&D, and the Stock Market Rate of Return," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 390-409, April.
    46. Rebecca Henderson & Iain Cockburn, 1996. "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 32-59, Spring.
    47. Stephen Bond & Anke Hoeffler & Jonathan Temple, 2001. "GMM Estimation of Empirical Growth Models," Economics Papers 2001-W21, Economics Group, Nuffield College, University of Oxford.
    48. Bergek, Anna & Bruzelius, Maria, 2010. "Are patents with multiple inventors from different countries a good indicator of international R&D collaboration? The case of ABB," Research Policy, Elsevier, vol. 39(10), pages 1321-1334, December.
    49. Masaaki Kotabe & Denise Dunlap-Hinkler & Ronaldo Parente & Harsh A Mishra, 2007. "Determinants of cross-national knowledge transfer and its effect on firm innovation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(2), pages 259-282, March.
    50. Aija Leiponen & Constance E. Helfat, 2011. "Location, Decentralization, and Knowledge Sources for Innovation," Organization Science, INFORMS, vol. 22(3), pages 641-658, June.
    51. Mansfield, Edwin, 1980. "Basic Research and Productivity Increase in Manufacturing," American Economic Review, American Economic Association, vol. 70(5), pages 863-873, December.
    52. Hans Loof & Almas Heshmati, 2006. "On the relationship between innovation and performance: A sensitivity analysis," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 317-344.
    53. Francesca Sanna-Randaccio & Reinhilde Veugelers, 2007. "Multinational knowledge spillovers with decentralised R&D: a game-theoretic approach," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(1), pages 47-63, January.
    54. Gassmann, Oliver & von Zedtwitz, Maximilian, 1999. "New concepts and trends in international R&D organization," Research Policy, Elsevier, vol. 28(2-3), pages 231-250, March.
    55. Hurtado-Torres, Nuria E. & Aragón-Correa, J. Alberto & Ortiz-de-Mandojana, Natalia, 2018. "How does R&D internationalization in multinational firms affect their innovative performance? The moderating role of international collaboration in the energy industry," International Business Review, Elsevier, vol. 27(3), pages 514-527.
    56. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    57. Zi-Lin He & Poh-Kam Wong, 2004. "Exploration vs. Exploitation: An Empirical Test of the Ambidexterity Hypothesis," Organization Science, INFORMS, vol. 15(4), pages 481-494, August.
    58. Fors, Gunnar, 1997. "Utilization of R&D Results in the Home and Foreign Plants of Multinationals," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 341-358, September.
    59. John H Dunning, 1998. "Location and the Multinational Enterprise: A Neglected Factor?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 45-66, March.
    60. S. Lael Brainard, 1993. "A Simple Theory of Multinational Corporations and Trade with a Trade-Off Between Proximity and Concentration," NBER Working Papers 4269, National Bureau of Economic Research, Inc.
    61. Hu, Albert Guangzhou & Jefferson, Gary H., 2009. "A great wall of patents: What is behind China's recent patent explosion?," Journal of Development Economics, Elsevier, vol. 90(1), pages 57-68, September.
    62. Bronwyn H. Hall & Nathan Rosenberg (ed.), 2010. "Handbook of the Economics of Innovation," Handbook of the Economics of Innovation, Elsevier, edition 1, volume 1, number 1.
    63. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)," NBER Working Papers 7552, National Bureau of Economic Research, Inc.
    64. Edwin Mansfield, 1986. "Patents and Innovation: An Empirical Study," Management Science, INFORMS, vol. 32(2), pages 173-181, February.
    65. Hall, Bronwyn H & Ziedonis, Rosemarie Ham, 2001. "The Patent Paradox Revisited: An Empirical Study of Patenting in the U.S. Semiconductor Industry, 1979-1995," RAND Journal of Economics, The RAND Corporation, vol. 32(1), pages 101-128, Spring.
    66. Lee Branstetter & Yoshiaki Ogura, 2005. "Is Academic Science Driving a Surge in Industrial Innovation? Evidence from Patent Citations," NBER Working Papers 11561, National Bureau of Economic Research, Inc.
    67. George P. Huber, 1991. "Organizational Learning: The Contributing Processes and the Literatures," Organization Science, INFORMS, vol. 2(1), pages 88-115, February.
    68. Nicholas S. Argyres & Brian S. Silverman, 2004. "R&D, organization structure, and the development of corporate technological knowledge," Strategic Management Journal, Wiley Blackwell, vol. 25(8‐9), pages 929-958, August.
    69. David Popp, 2003. "Pollution control innovations and the Clean Air Act of 1990," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 22(4), pages 641-660.
    70. Peter J. Buckley & Mark Casson, 1985. "The Economic Theory of the Multinational Enterprise," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-05242-4.
    71. Joshua Lerner, 1994. "The Importance of Patent Scope: An Empirical Analysis," RAND Journal of Economics, The RAND Corporation, vol. 25(2), pages 319-333, Summer.
    72. Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, vol. 32(10), pages 1231-1241, October.
    73. John Goddard & Phil Molyneux & John O. S. Wilson, 2004. "The profitability of european banks: a cross‐sectional and dynamic panel analysis," Manchester School, University of Manchester, vol. 72(3), pages 363-381, June.
    74. Hsu, Chia-Wen & Lien, Yung-Chih & Chen, Homin, 2015. "R&D internationalization and innovation performance," International Business Review, Elsevier, vol. 24(2), pages 187-195.
    75. Atul Nerkar & Srikanth Paruchuri, 2005. "Evolution of R&D Capabilities: The Role of Knowledge Networks Within a Firm," Management Science, INFORMS, vol. 51(5), pages 771-785, May.
    76. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    77. Unsal, Omer & Rayfield, Blake, 2019. "Institutional investors and medical innovation," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 190-205.
    78. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-1426, November.
    79. Joan Penner‐Hahn & J. Myles Shaver, 2005. "Does international research and development increase patent output? An analysis of Japanese pharmaceutical firms," Strategic Management Journal, Wiley Blackwell, vol. 26(2), pages 121-140, February.
    80. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    81. Gongming Qian & Lee Li & Ji Li & Zhengming Qian, 2008. "Regional diversification and firm performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(2), pages 197-214, March.
    82. E. J. Malecki, 2007. "Corporate Organization of R and D and the Location of Technological Activities," Regional Studies, Taylor & Francis Journals, vol. 41(sup1), pages 73-88.
    83. Spyros Arvanitis & Heinz Hollenstein, 2011. "How do different drivers of R&D investment in foreign locations affect domestic firm performance? An analysis based on Swiss panel micro data," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 20(2), pages 605-640, April.
    84. Marjorie A Lyles & Jane E Salk, 1996. "Knowledge Acquisition from Foreign Parents in International Joint Ventures: An Empirical Examination in the Hungarian Context," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 27(5), pages 877-903, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jaana Rahko, 2016. "Internationalization of corporate R&D activities and innovation performance," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 25(6), pages 1019-1038.
    2. Christophe Pennetier & Karan Girotra & Jürgen Mihm, 2019. "R&D Spending: Dynamic or Persistent?," Manufacturing & Service Operations Management, INFORMS, vol. 21(3), pages 636-657, July.
    3. Hurtado-Torres, Nuria E. & Aragón-Correa, J. Alberto & Ortiz-de-Mandojana, Natalia, 2018. "How does R&D internationalization in multinational firms affect their innovative performance? The moderating role of international collaboration in the energy industry," International Business Review, Elsevier, vol. 27(3), pages 514-527.
    4. René Belderbos & Boris Lokshin & Bert Sadowski, 2015. "The returns to foreign R&D," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 46(4), pages 491-504, May.
    5. Jingjing Li & Gang Liu & Zihan Ma, 2021. "RD internationalization, domestic technology alliance, and innovation in emerging market," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-35, June.
    6. Choi, Mincheol & Lee, Chang-Yang, 2021. "Technological diversification and R&D productivity: The moderating effects of knowledge spillovers and core-technology competence," Technovation, Elsevier, vol. 104(C).
    7. Zhang, Feng & Jiang, Guohua & Cantwell, John A., 2019. "Geographically Dispersed Technological Capability Building and MNC Innovative Performance: The Role of Intra-firm Flows of Newly Absorbed Knowledge," Journal of International Management, Elsevier, vol. 25(3), pages 1-1.
    8. Lee, Jong-Seon & Kim, Nami & Bae, Zong-Tae, 2019. "The effects of patent litigation involving NPEs on firms’ patent strategies," Technological Forecasting and Social Change, Elsevier, vol. 149(C).
    9. Armin Anzenbacher & Marcus Wagner, 2020. "The role of exploration and exploitation for innovation success: effects of business models on organizational ambidexterity in the semiconductor industry," International Entrepreneurship and Management Journal, Springer, vol. 16(2), pages 571-594, June.
    10. Bettina Becker, 2013. "The Determinants of R&D Investment: A Survey of the Empirical Research," Discussion Paper Series 2013_09, Department of Economics, Loughborough University, revised Sep 2013.
    11. Daniel Gama e Colombo & Jorge Martinez-Vazquez, 2018. "Fiscal Decentralization and Public R&D Policy: A Country Panel Analysis," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1820, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    12. Hsin-Ning Su, 2017. "Global Interdependence of Collaborative R&D-Typology and Association of International Co-Patenting," Sustainability, MDPI, vol. 9(4), pages 1-28, April.
    13. Ferraris, Alberto & Giachino, Chiara & Ciampi, Francesco & Couturier, Jerome, 2021. "R&D internationalization in medium-sized firms: The moderating role of knowledge management in enhancing innovation performances," Journal of Business Research, Elsevier, vol. 128(C), pages 711-718.
    14. René Belderbos & Bart Leten & Shinya Suzuki, 2017. "Scientific research, firm heterogeneity, and foreign R&D locations of multinational firms," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(3), pages 691-711, September.
    15. Moaniba, Igam M. & Su, Hsin-Ning & Lee, Pei-Chun, 2019. "On the drivers of innovation: Does the co-evolution of technological diversification and international collaboration matter?," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    16. Ge, Shuang & Liu, Xielin, 2022. "The role of knowledge creation, absorption and acquisition in determining national competitive advantage," Technovation, Elsevier, vol. 112(C).
    17. Deepak Somaya & Ian O. Williamson & Xiaomeng Zhang, 2007. "Combining Patent Law Expertise with R&D for Patenting Performance," Organization Science, INFORMS, vol. 18(6), pages 922-937, December.
    18. Hsu, Chia-Wen & Lien, Yung-Chih & Chen, Homin, 2015. "R&D internationalization and innovation performance," International Business Review, Elsevier, vol. 24(2), pages 187-195.
    19. Xun Zhang & Biao Xu, 2019. "R&D Internationalization and Green Innovation? Evidence from Chinese Resource Enterprises and Environmental Enterprises," Sustainability, MDPI, vol. 11(24), pages 1-18, December.
    20. Gao, Wenlian & Chou, Julia, 2015. "Innovation efficiency, global diversification, and firm value," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 278-298.

    More about this item

    Keywords

    Patents; Innovation; R&D; Pharmaceuticals; Multinationals; Profits; Globalization; Internationalization; Business strategy;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:80:y:2022:i:c:p:882-905. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.