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Globalisation, industrial diversification and productivity growth in large European R&D companies

This paper aims to assess the impact of both geographic and industrial diversification of economic activities on the productivity performance of large European R&D Multinational Enterprises (MNEs). Based on the worldwide subsidiaries of these firms, we measure the performance of the firms according to their level of industrial diversification and globalisation that we proxy with the presence and importance of subsidiaries in the EU, North America and Asia-Pacific regions. The sample consists of large R&D firms that represent about 80% of total European R&D. In general, the results indicate a positive impact from globalisation on firms’ R&D productivity, especially in the US, while a negative impact for industrial diversification is found.

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Paper provided by Institute of Prospective Technological Studies, Joint Research Centre in its series JRC-IPTS Working Papers on Corporate R&D and Innovation with number 2011-01.

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Length: 30 pages
Date of creation: Mar 2011
Date of revision:
Handle: RePEc:ipt:wpaper:201101
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  1. David J. Denis & Diane K. Denis & Keven Yost, 2002. "Global Diversification, Industrial Diversification, and Firm Value," Journal of Finance, American Finance Association, vol. 57(5), pages 1951-1979, October.
  2. Kamien,Morton I. & Schwartz,Nancy L., 1982. "Market Structure and Innovation," Cambridge Books, Cambridge University Press, number 9780521293853, October.
  3. Zvi Griliches, 1979. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 92-116, Spring.
  4. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 225-64, April.
  5. Michele Cincera & Claudio Cozza & Alexander Tübke, 2010. "Drivers and policies for increasing and internationalising R&D activities of EU MNEs," JRC-IPTS Working Papers on Corporate R&D and Innovation 2010-02, Institute of Prospective Technological Studies, Joint Research Centre.
  6. Henri Capron & Michele Cincera, 1998. "Assessing the R&D determinants and productivity of world-wide manufacturing firms," ULB Institutional Repository 2013/849, ULB -- Universite Libre de Bruxelles.
  7. Meyer, Margaret & Milgrom, Paul & Roberts, John, 1992. "Organizational Prospects, Influence Costs, and Ownership Changes," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(1), pages 9-35, Spring.
  8. Raquel Ortega-Argilés & Lesley Potters & Marco Vivarelli, 2009. "R&D and Productivity: Testing Sectoral Peculiarities Using Micro Data," JRC-IPTS Working Papers on Corporate R&D and Innovation 2009-3, Institute of Prospective Technological Studies, Joint Research Centre.
  9. Alfred D. Chandler, 1969. "Strategy and Structure: Chapters in the History of the American Industrial Enterprise," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530090, June.
  10. von Zedtwitz, Maximilian & Gassmann, Oliver, 2002. "Market versus technology drive in R&D internationalization: four different patterns of managing research and development," Research Policy, Elsevier, vol. 31(4), pages 569-588, May.
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