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Globalisation, industrial diversification and productivity growth in large European R&D companies

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Abstract

This paper aims to assess the impact of both geographic and industrial diversification of economic activities on the productivity performance of large European R&D Multinational Enterprises (MNEs). Based on the worldwide subsidiaries of these firms, we measure the performance of the firms according to their level of industrial diversification and globalisation that we proxy with the presence and importance of subsidiaries in the EU, North America and Asia-Pacific regions. The sample consists of large R&D firms that represent about 80% of total European R&D. In general, the results indicate a positive impact from globalisation on firms’ R&D productivity, especially in the US, while a negative impact for industrial diversification is found.

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File URL: http://iri.jrc.ec.europa.eu/papers/2011_JRC63525_WP1.pdf
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Bibliographic Info

Paper provided by Institute of Prospective Technological Studies, Joint Research Centre in its series JRC-IPTS Working Papers on Corporate R&D and Innovation with number 2011-01.

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Length: 30 pages
Date of creation: Mar 2011
Date of revision:
Handle: RePEc:ipt:wpaper:201101

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Keywords: R&D; European MNEs; productivity; globalisation; industrial diversification;

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References

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  1. Meyer, Margaret A & Milgrom, Paul & Roberts, Donald John, 1992. "Organizational Prospects, Influence Costs, and Ownership Changes," CEPR Discussion Papers 665, C.E.P.R. Discussion Papers.
  2. Zvi Griliches, 1979. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 92-116, Spring.
  3. Jensen, M.C. & Murphy, K.J., 1988. "Performance Pay And Top Management Incentives," Papers 88-04, Rochester, Business - Managerial Economics Research Center.
  4. Raquel Ortega-Argilés & Lesley Potters & Marco Vivarelli, 2009. "R&D and Productivity: Testing Sectoral Peculiarities Using Micro Data," JRC-IPTS Working Papers on Corporate R&D and Innovation 2009-3, Institute of Prospective Technological Studies, Joint Research Centre.
  5. von Zedtwitz, Maximilian & Gassmann, Oliver, 2002. "Market versus technology drive in R&D internationalization: four different patterns of managing research and development," Research Policy, Elsevier, vol. 31(4), pages 569-588, May.
  6. David J. Denis & Diane K. Denis & Keven Yost, 2002. "Global Diversification, Industrial Diversification, and Firm Value," Journal of Finance, American Finance Association, vol. 57(5), pages 1951-1979, October.
  7. Kamien,Morton I. & Schwartz,Nancy L., 1982. "Market Structure and Innovation," Cambridge Books, Cambridge University Press, number 9780521293853, October.
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Cited by:
  1. Pietro Moncada-Paterno-Castello & Peter Voigt & Marco Vivarelli, 2011. "Evolution of Globalised business R&D: Features, drivers, impacts," JRC-IPTS Working Papers on Corporate R&D and Innovation 2011-02, Institute of Prospective Technological Studies, Joint Research Centre.

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