Evidence On The Role Of Ownership Structure On Firms’ Innovative Performance

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Evidence On The Role Of Ownership Structure On Firms’ Innovative Performance

Author Info

Raquel Ortega-Argilés () (European Commission, JRC-Institute for Prospective Technological Studies (IPTS) – Knowledge for Growth Unit (KfG), Industrial Research and Innovation (IRI))
Rosina Moreno () (Faculty of Economics, University of Barcelona)

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Raquel Ortega-Argiles

Abstract

Based on the Knowledge Production Function framework given by Griliches (1979), we slightly modify it so that the innovative output depends upon a set of factors related to the firm internal characteristics and are influenced by the environment. Specifically, regarding the firm internal determinants the effect of the concentration of the ownership, the composition of the boards of directors and the effect of the nature of the ownership (foreign and public) are analyzed. Additionally, in order to capture the determinants of the environment in which the firm operates other variables concerning the internationalization of market, the agglomeration economies and the regional knowledge externalities are also considered. In order to assess the impact of these determinants on the number of patents and models of use awarded by the firm, the discreteness of the latter variable has to be taken into account. We apply Poisson and Negative Binomial models for a more comprehensive evaluation of the hypothesis in a panel of Spanish manufacturing firms. The results show patenting activity is positively favoured by being located in an environment with a high innovative activity, due to the existence of knowledge spillovers and agglomeration economies.

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Paper provided by University of Barcelona, Research Institute of Applied Economics in its series IREA Working Papers with number 200909.

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Length: 25 pages
Date of creation: Apr 2009
Date of revision: Apr 2009
Handle: RePEc:ira:wpaper:200909

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This paper has been announced in the following NEP Reports:

NEP-ALL-2009-04-13 (All new papers)
NEP-CSE-2009-04-13 (Economics of Strategic Management)
NEP-INO-2009-04-13 (Innovation)
NEP-IPR-2009-04-13 (Intellectual Property Rights)
NEP-KNM-2009-04-13 (Knowledge Management & Knowledge Economy)
NEP-TID-2009-04-13 (Technology & Industrial Dynamics)

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This page was last updated on 2009-11-30.

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