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European Cooperative R&D And Firm Performance

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  • Luis Aguiar

    (Departamento de Economía - Universidad Carlos III de Madrid)

  • Philippe Gagnepain

    ()
    (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris I - Panthéon-Sorbonne, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)

Abstract

The goal of this paper is to assess the impact on the performance of firms that participate in Research Joint Ventures (RJVs) funded by the Fifth European Framework Programme for Research and Technological Development (EU-FP5). A special emphasis is made on the User-friendly Information Society (IST) programme, one of the most important thematic programmes of the EU-FP5. We use the funding available to the firms as an instrumental variable to account for self-selection and estimate the Local Average Treatment Effect (LATE) of participation by considering labor productivity and profit margin as performance measures. Our results show a large and positive impact of participation on the labor productivity of the firms, whereas the effect on profit margin is weaker. When taking into account the size of the RJV, we find that the positive impact on labor productivity comes mainly from participation in large projects and that participation in smaller RJVs has a negative effect on the profit margin.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number hal-00622969.

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Date of creation: 2011
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Handle: RePEc:hal:cesptp:hal-00622969

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  1. Bruno Crepon & Emmanuel Duguet & Jacques Mairesse, 1998. "Research, Innovation, and Productivity: An Econometric Analysis at the Firm Level," NBER Working Papers 6696, National Bureau of Economic Research, Inc.
  2. Mari­n, Pedro L. & Siotis, Georges, 2008. "Public policies towards Research Joint Venture: Institutional design and participants' characteristics," Research Policy, Elsevier, Elsevier, vol. 37(6-7), pages 1057-1065, July.
  3. Lars-Hendrik Röller & Ralph Siebert & Mihkel M. Tombak, 2007. "Why Firms Form (or do not Form) RJVS," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 117(522), pages 1122-1144, 07.
  4. Klette, Tor Jakob & Moen, Jarle & Griliches, Zvi, 2000. "Do subsidies to commercial R&D reduce market failures? Microeconometric evaluation studies1," Research Policy, Elsevier, Elsevier, vol. 29(4-5), pages 471-495, April.
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  6. Barajas, A & Huergo, E & Moreno, L, 2009. "Measuring the impact of international R&D cooperation: the case of Spanish firms participating in the EU Framework Programme," MPRA Paper 23610, University Library of Munich, Germany.
  7. Roberto Hern·n & Pedro L. MarÌn & Georges Siotis, 2003. "An empirical evaluation of the determinants of Research Joint Venture Formation," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 51(1), pages 75-89, 03.
  8. Michele Cincera & Lieselot Kempen & Bruno Van Pottelsberghe & Reinhilde Veugelers & Carolina Villegas Sanchez, 2003. "Productivity growth, R&D and the rôle of international collaborative agreements: some évidence for Belgian manufacturing companies," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, ULB -- Universite Libre de Bruxelles, vol. 46(3), pages 107-140.
  9. Ralph Siebert, 1996. "The Impact of Research Joint Ventures on Firm Performance: An Empirical Assessment," CIG Working Papers, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG) FS IV 96-03, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  10. Darmot Leahy & J. Peter Neary, 1997. "Public Policy Towards R & D in Oligopolistic Industry," Politická ekonomie, University of Economics, Prague, University of Economics, Prague, vol. 1997(5), pages 683-698.
  11. Benfratello, Luigi & Sembenelli, Alessandro, 2002. "Research joint ventures and firm level performance," Research Policy, Elsevier, Elsevier, vol. 31(4), pages 493-507, May.
  12. Dekker, Ronald & kleinknecht, A.H., 2008. "The EU Framework Programs: Are they worth doing?," MPRA Paper 8503, University Library of Munich, Germany.
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Cited by:
  1. Barajas, A. & Huergo, E. & Moreno, L., 2012. "The Impact of International Research Joint Ventures on SMEs Performance," MPRA Paper 36306, University Library of Munich, Germany.

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