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Does business group affiliation encourage R&D activities? Evidence from India

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  • Surenderrao Komera

    (Institute for Financial Management and Research (IFMR))

  • P. J. Jijo Lukose

    (Indian Institute of Management Kozhikode)

  • Subash Sasidharan

    (Indian Institute of Technology Madras)

Abstract

The decision to undertake investment in innovative activities is an important strategic choice made by firms. This study investigates the relationship between business group (BG) affiliation and research & development (R&D) activities of Indian firms. Using an empirical approach that accounts for endogeneity and selection bias, we observe that BG affiliation has significant positive influence on the sample firms’ R&D activities. Employing various proxies for institutional development, we show that the effect of BG affiliation on R&D declines with the improvements in institutional and regulatory mechanisms. Further, this study explores the linkages between diversification strategies at the group level and R&D investments by firms affiliated with BGs. Results show that degree of related diversification is positively associated with the affiliates’ innovation efforts.

Suggested Citation

  • Surenderrao Komera & P. J. Jijo Lukose & Subash Sasidharan, 2018. "Does business group affiliation encourage R&D activities? Evidence from India," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 887-917, December.
    • Handle: RePEc:kap:asiapa:v:35:y:2018:i:4:d:10.1007_s10490-017-9530-3
    DOI: 10.1007/s10490-017-9530-3
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