R&D spillovers through RJV cooperation

Albert Banal-Estañol, Tomaso Duso, Jo Seldeslachts and Florian Szücs

Research Policy, 2022, vol. 51, issue 4

Abstract: We investigate how R&D spillovers propagate across firms linked through Research Joint Ventures (RJVs). Building on the framework developed by Bloom et al. (2013) which considers the opposing effects of knowledge spillovers and product market rivalry, we extend the model to account for RJV cooperation. Since the firm’s decision to join a RJV is endogenous, we build a model of RJV participation. The outcome equations and RJV participation are then jointly estimated in an endogenous treatment regression model. Our main findings are that the adverse effects of product market rivalry are mitigated if firms cooperate in RJVs; and that RJV participation allows firms to better absorb technological spillovers and, thus, create value.

Keywords: Spillovers; Research joint ventures; R&D; Market value (search for similar items in EconPapers)
JEL-codes: K21 L24 L44 O32 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Journal Article: R&D Spillovers through RJV Cooperation (2022)
Working Paper: R&D Spillovers through RJV Cooperation (2022)
Working Paper: R&D Spillovers through RJV Cooperation (2020)
Working Paper: R&D Spillovers through RJV Cooperation (2020)
Working Paper: R&D Spillovers throught RJV Cooperation (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:51:y:2022:i:4:s0048733321002572

DOI: 10.1016/j.respol.2021.104465

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