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Ownership Structure and R&D Orientation in ICT Groups

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  • Francesco Bogliacino

  • Giuditta Prato

  • Daniel Nepelski

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. Copyright Eurasia Business and Economics Society 2013

Suggested Citation

  • Francesco Bogliacino & Giuditta Prato & Daniel Nepelski, 2013. "Ownership Structure and R&D Orientation in ICT Groups," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 3(2), pages 164-178, December.
    • Handle: RePEc:spr:eurasi:v:3:y:2013:i:2:p:164-178
    DOI: 10.14208/ebr.2013.03.02.003
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    2. Klaus Kultti & Tuomas Takalo & Tanja Tanayama, 2015. "R&D spillovers and information exchange: a case study," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 63-76, June.

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