R&D Productivity and Firm Size in Semiconductors and Pharmaceuticals: Evidence from Citation Yields

Burak Dindaroglu

No 1101, Working Papers from Izmir University of Economics

Abstract: Using firm level panel data from the U.S., I explore the relationship between firm size and R&D productivity for two important and R&D-intensive industries: Semiconductors and Pharmaceuticals. I employ two measures of a firm's R&D performance: the number of citations received per patented innovation, and the number of citations received per dollar of R&D expenditures. The former is a measure of the average quality of a firm's patents, and the latter is a measure of total R&D output obtained per dollar of investments. I find that the average quality of patents (citations received per patent) falls with firm size in Pharmaceuticals, but there is no relationship between patent quality and firm size in Semiconductors. Citations received per R&D dollar decrease with size in both industries, which is due to the well-documented negative relationship between patents per R&D and firm size.

Keywords: R&D Productivity; Firm size; Patents; Citations; Semiconductors; Pharmaceuticals; Panel data (search for similar items in EconPapers)
JEL-codes: L1 L2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-eff, nep-ino, nep-ipr and nep-tid
Date: 2011-11
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Persistent link: http://EconPapers.repec.org/RePEc:izm:wpaper:1101

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