6533b7cffe1ef96bd1258342

RESEARCH PRODUCT

Multinationality, foreignness and institutional distance in the relation between R&D and productivity

Dolores Añón HigónMiguel C. Manjón Antolín

subject

Multinational corporationManagement of Technology and InnovationStrategy and ManagementSubsidiaryEconomicsInternational businessEconomic geographyManagement Science and Operations ResearchMarketingRelation (history of concept)Productivity

description

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.

yearjournalcountryeditionlanguage
2012-04-01Research Policy
https://doi.org/10.1016/j.respol.2011.12.007