Multinationals, R&D, and productivity: evidence for UK manufacturing firms
AbstractIn this study, we analyze multinationality (domestic-based firms versus multinationals) and foreignness (foreign versus domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently estimate firm's productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them. Copyright 2011 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Industrial and Corporate Change.
Volume (Year): 20 (2011)
Issue (Month): 2 (April)
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Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
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Web page: http://icc.oupjournals.org/
Other versions of this item:
- Añón Higón, Dolores & Manjón Antolín, Miguel C. & Máñez, Juan A., 2010. "Multinationals, R&D and productivity: Evidence for UK Manufactoring firms," Working Papers 2072/151616, Universitat Rovira i Virgili, Department of Economics.
- Dolores Añon Higon & Miguel Manjon Antolin & Juan A. Mañez, 2010. "Multinationals, R&D and productivity: Evidence for UK Manufacturing firms," Discussion Papers in Economic Behaviour 1110, University of Valencia, ERI-CES.
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
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