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Ownership Structure and R&D Orientation in ICT Groups

Author

Listed:
  • Francesco Bogliacino

    (School of Business, Konrad Lorenz University Foundation, Bogota, Colombia)

  • Giuditta De Prato

    (European Commission - JRC IPTS, Seville, Spain)

  • Daniel Nepelski

    (European Commission - JRC IPTS, Seville, Spain)

Abstract

In this paper we use the subset of ICT companies from the European R&D Investment Scoreboard to test the effect of change in the shareholders structure on the business orientation towards R&D. A change in one of the control participation for the business group is associated with a deepening of the R&D orientation. The effect is twice as large if the shareholder is a public institution or a risk-oriented financial institution. In the estimation, we address the role of heterogeneity by allowing for fat tails and asymmetry.

Suggested Citation

  • Francesco Bogliacino & Giuditta De Prato & Daniel Nepelski, 2013. "Ownership Structure and R&D Orientation in ICT Groups," Eurasian Business Review, Eurasia Business and Economics Society, vol. 3(2), pages 164-178, Fall.
    • Handle: RePEc:ebz:ebrjrn:v:3:y:2013:i:2:p:164-178
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    Keywords

    R&D; ICT; Ownership Structure;
    All these keywords.

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