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What is the impact of private and public R&D on clean technology firms’ performance? An international perspective

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  • Catherine Boulatoff
  • Carol Marie Boyer

Abstract

Research and Development (R&D) has often been cited as key to promote the development of clean technologies in both the short and long runs. Robust economic performance for clean technology firms may occur in countries in which R&D is conducted by governments as well as by businesses. The goal of this paper is to examine how private and public R&D affects firm profitability. Utilizing an international data set of clean technology firms, this study finds performance of clean technology firms to be quite favorable when compared to firms in the Morgan Stanley Capital International World Index. The study examines how different countries perform in these industries. Finally, the impact both corporate and public R&D have had on these firms’ performance is analyzed.

Suggested Citation

  • Catherine Boulatoff & Carol Marie Boyer, 2017. "What is the impact of private and public R&D on clean technology firms’ performance? An international perspective," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 7(2), pages 147-168, April.
    • Handle: RePEc:taf:jsustf:v:7:y:2017:i:2:p:147-168
    DOI: 10.1080/20430795.2016.1251813
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    References listed on IDEAS

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    1. Costa-Campi, M.T. & Duch-Brown, N. & García-Quevedo, J., 2014. "R&D drivers and obstacles to innovation in the energy industry," Energy Economics, Elsevier, vol. 46(C), pages 20-30.
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    3. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 2000. "Is public R&D a complement or substitute for private R&D? A review of the econometric evidence," Research Policy, Elsevier, vol. 29(4-5), pages 497-529, April.
    4. Hall, Bronwyn H. & Oriani, Raffaele, 2006. "Does the market value R&D investment by European firms? Evidence from a panel of manufacturing firms in France, Germany, and Italy," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 971-993, September.
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    Cited by:

    1. Catarina Alexandra Neves Proença & Maria Elisabete Duarte Neves & Maria Castelo Baptista Gouveia & Mara Teresa Silva Madaleno, 2023. "Technological, healthcare and consumer funds efficiency: influence of COVID-19," Operational Research, Springer, vol. 23(2), pages 1-42, June.

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