Multinationality, foreignness and institutional distance in the relation between R&D and productivity
Dolores Añón Higón and
Miguel Manjon Antolin ()
Research Policy, 2012, vol. 41, issue 3, 592-601
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.
Keywords: Multinationals; Productivity; R&D; Foreignness; Institutional distance (search for similar items in EconPapers)
JEL-codes: C14 D24 F23 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:41:y:2012:i:3:p:592-601
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