0000000000060978
AUTHOR
Miguel C. Manjón Antolín
Multinationality, foreignness and institutional distance in the relation between R&D and productivity
Abstract This paper empirically examines to what extent being foreign and part of a multinational affects the endogenous relation between R&D and productivity. Our findings indicate that multinationals obtain in general higher R&D returns. Also, there is a negative foreignness effect in that domestic-owned multinationals outperform foreign subsidiaries. However, these effects are somehow moderated by the institutional distance between the home and host countries. These results, obtained for a panel of UK firms, are largely consistent with a set of hypotheses derived from the institutional and international business theories.
Multinationals, R&D and productivity: Evidence for UK Manufacturing firms
In this study, we analyze multinationality (domestic-based firms versus multinationals) and foreignness (foreign versus domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently estimate firm's productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them. C…
Export intensity and the productivity gains of exporting
This article analyses whether the productivity gains associated with Learning-by-Exporting (LBE) (controlling for self-selection) depend on the intensity of the firm's exporting activity. The results from a representative sample of Spanish manufacturing firms indicate that the yearly average gains in productivity are larger for those firms that increase their export-to-sales ratio.