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Multinationality, foreignness and institutional distance in the relation between R&D and productivity

Listed author(s):
  • Añón Higón, Dolores
  • Manjón Antolín, Miguel

This paper empirically examines to what extent being foreign and part of a multinational affects the endogenous relation between R&D and productivity. Our findings indicate that multinationals obtain in general higher R&D returns. Also, there is a negative foreignness effect in that domestic-owned multinationals outperform foreign subsidiaries. However, these effects are somehow moderated by the institutional distance between the home and host countries. These results, obtained for a panel of UK firms, are largely consistent with a set of hypotheses derived from the institutional and international business theories.

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File URL: http://www.sciencedirect.com/science/article/pii/S0048733311002290
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Article provided by Elsevier in its journal Research Policy.

Volume (Year): 41 (2012)
Issue (Month): 3 ()
Pages: 592-601

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Handle: RePEc:eee:respol:v:41:y:2012:i:3:p:592-601
DOI: 10.1016/j.respol.2011.12.007
Contact details of provider: Web page: http://www.elsevier.com/locate/respol

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