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Evidence on the role of ownership structure on firms’ innovative performance

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  • Ortega-Argilés , Raquel

    () (European Commission, JRC-Institute for Prospective Technological Studies (IPTS))

  • Moreno, Rosina

    () (Universidad de Barcelona)

Abstract

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

Suggested Citation

  • Ortega-Argilés , Raquel & Moreno, Rosina, 2009. "Evidence on the role of ownership structure on firms’ innovative performance," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 15, pages 231-250.
  • Handle: RePEc:ris:invreg:0096
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    References listed on IDEAS

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    Cited by:

    1. Michael Artis & Ernest Miguélez & Rosina Moreno, 2009. "Assessing Agglomeration Economies in a Spatial Framework with Endogenous Regressors," SERC Discussion Papers 0023, Spatial Economics Research Centre, LSE.
    2. Diukanova, Olga & López-Rodríguez, Jesús, 2014. "Regional Impacts of non-R&D Innovation Expenditures across the EU Regions: Simulation Results Using the Rhomolo CGE Model," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 29, pages 91-111.
    3. Juan Luis Jiménez & Jordi Perdiguero & Ancor Suárez, 2011. "Debating as a classroom tool for adapting learning outcomes to the European higher education area," IREA Working Papers 201109, University of Barcelona, Research Institute of Applied Economics, revised Jun 2011.
    4. Ana María Osorio & Catalina Bolancé & Manuela Alcañiz, 2011. "Measuring early childhood health: a composite index comparing Colombian departments," IREA Working Papers 201122, University of Barcelona, Research Institute of Applied Economics, revised Oct 2011.
    5. Jordi Perdiguero, 2011. "Vertical relations and local competition: an empirical approach," IREA Working Papers 201124, University of Barcelona, Research Institute of Applied Economics, revised Dec 2011.
    6. Lluís Bermúdez & Antoni Ferri & Montse Guillén, 2011. "A correlation sensitivity analysis of non-life underwriting risk in solvency capital requirement estimation," IREA Working Papers 201113, University of Barcelona, Research Institute of Applied Economics, revised Sep 2011.
    7. Ortega-Argilés , Raquel & Moreno, Rosina, 2009. "Evidence on the role of ownership structure on firms’ innovative performance," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 15, pages 231-250.
    8. Miguel Santolino & Catalina Bolancé & Manuela Alcañiz, 2011. "Factors affecting hospital admission and recovery stay duration of in-patient motor victims in Spain," IREA Working Papers 201119, University of Barcelona, Research Institute of Applied Economics, revised Oct 2011.
    9. Germà Bel & Xavier Fageda & Melania Mur, 2011. "Why do municipalities cooperate to provide local public services? An empirical analysis," IREA Working Papers 201118, University of Barcelona, Research Institute of Applied Economics, revised Oct 2011.

    More about this item

    Keywords

    Knowledge production function; patents; R&D; ownership; regions;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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