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Multinationality Matters in Innovation: The Case of the UK Financial Services

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Author Info

  • Marion Frenz
  • Claudia Girardone
  • Grazia Ietto-Gillies

Abstract

The paper starts with a brief summary of theoretical perspectives on the relationship between multinationality and innovation and the move from a centralized and hierarchical perspective to a more decentralized network-based one. Four hypotheses are set up to test the relationship between multinationality and innovation, using data from the Community Innovation Survey 12 for the financial services sector. All models control for the size of the enterprise. The results show that multinationality is positively related to innovation activities. The positive impact of being part of a multinational company (MNC) on the propensity to innovate seems largely due to the fact that MNCs operate in different countries rather than, or more than, to the enterprise being part of a group. The relevance of multinationality appears to be higher, the higher the degree of internationalization of the company of which the enterprise is part. The country of origin of the company appears also to be important.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Industry and Innovation.

Volume (Year): 12 (2005)
Issue (Month): 1 ()
Pages: 65-92

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Handle: RePEc:taf:indinn:v:12:y:2005:i:1:p:65-92

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Related research

Keywords: Innovation; multinational companies; internal and external networks; foreign-owned companies; financial services; community innovation survey UK;

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Cited by:
  1. Md. Al Mamun & Kazi Sohog & Ayesha Akhter, 2013. "A Dynamic Panel Analysis of the Financial Determinants of CSR in Bangladeshi Banking Industry," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(5), pages 560-578, May.
  2. Filippetti, Andrea & Archibugi, Daniele, 2010. "Innovation in Times of Crisis: The Uneven Effects of the Economic Downturn across Europe," MPRA Paper 22084, University Library of Munich, Germany.
  3. Marion Frenz & Grazia Ietto-Gillies, 2007. "Does Multinationality Affect the Propensity to Innovate? An Analysis of the Third UK Community Innovation Survey," International Review of Applied Economics, Taylor & Francis Journals, vol. 21(1), pages 99-117.
  4. Frenz, Marion & Ietto-Gillies, Grazia, 2009. "The impact on innovation performance of different sources of knowledge: Evidence from the UK Community Innovation Survey," Research Policy, Elsevier, vol. 38(7), pages 1125-1135, September.
  5. Lu�sa Carvalho & Teresa Costa & Jorge Caiado, 2013. "Determinants of innovation in a small open economy: a multidimensional perspective," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 14(3), pages 583-600, June.
  6. Filippetti, Andrea & Archibugi, Daniele, 2011. "Innovation in times of crisis: National Systems of Innovation, structure, and demand," Research Policy, Elsevier, vol. 40(2), pages 179-192, March.
  7. Hurmelinna-Laukkanen, Pia & Nätti, Satu, 2012. "Network orchestration for knowledge mobility: The case of an international innovation community," jbm - Journal of Business Market Management, Free University Berlin, Marketing Department, vol. 5(4), pages 244-264.
  8. Li, Xiaoying & Wang, Jue & Liu, Xiaming, 2013. "Can locally-recruited R&D personnel significantly contribute to multinational subsidiary innovation in an emerging economy?," International Business Review, Elsevier, vol. 22(4), pages 639-651.

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