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Corporate R&D and firm efficiency: Evidence from Europe´s top R&D investors

Author

Listed:
  • Subal C. Kumbhakar

    (State University of New York at Binghamton)

  • Raquel Ortega-Argilés

    (IN+ Centre for Innovation, Technology and Policy Research, Instituto Superior Técnico)

  • Lesley Potters

    (Utrecht School of Economics)

  • Marco Vivarelli

    (Università Cattolica, Milano-Piacenza)

  • Peter Voigt

    (European Commission - JRC)

Abstract

The main objective of this study is to investigate the impact of corporate R&D activities on firm performance, measured by labour productivity. To this end, the stochastic frontier technique is used on a unique unbalanced longitudinal dataset on top European R&D investors over the period 20002005. The study quantifies technical inefficiency of individual firms. From a policy perspective, the results of this study suggest that if the aim is to leverage firms productivity emphasis should be put on supporting corporate R&D in high-tech sectors and, to some ex-tent, in medium-tech sectors. On the other hand, corporate R&D in the low-tech sector is found to have a minor effect in explaining productivity. Instead, encouraging investment in fixed assets appears important for the productivity of low-tech industries. Hence, the allocation of support for corporate R&D seems to be as important as its overall increase and an erga omnes approach across all sectors appears inappropriate. However, with regard to technical efficiency, R&D intensity is found to be a pivotal factor in explaining firm efficiency. This is true for all industries.

Suggested Citation

  • Subal C. Kumbhakar & Raquel Ortega-Argilés & Lesley Potters & Marco Vivarelli & Peter Voigt, 2010. "Corporate R&D and firm efficiency: Evidence from Europe´s top R&D investors," JRC Working Papers on Corporate R&D and Innovation 2010-11, Joint Research Centre.
    • Handle: RePEc:ipt:wpaper:201011
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    More about this item

    Keywords

    Corporate R&D; productivity; technical efficiency; stochastic frontier analysis;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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