6533b7d2fe1ef96bd125ec71
RESEARCH PRODUCT
Multinationals, R&D and productivity: Evidence for UK Manufacturing firms
Dolores Añón HigónMiguel C. Manjón AntolínJuan A. Mañezsubject
multinationals foreignness R&D productivityEconomics and EconometricsEconomicsManufacturing firmsStochastic dominanceProductivityIndustrial organizationjel:C14jel:D24jel:F23description
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. Copyright 2011 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2010-07-01 |