External R&D, product and process innovation in European manufacturing companies
Giuseppe Medda ()
The Journal of Technology Transfer, 2020, vol. 45, issue 1, No 15, 339-369
Abstract We assess the relationship between firms’ Research and Development expenditures over sales and innovation output, measured by three dummies indicating whether firms have introduced any product innovation, process innovation or both types of innovations together. In particular, we estimate the impact that external sources of R&D may have on different kind of innovations, differentiating between R&D supplied by universities and other research centers, on one side, and other companies, on the other. We base our empirical analysis on a large and representative sample of European manufacturing companies from France, Germany, Italy, Spain, and the UK. Treating R&D intensity as an endogenous variable, we find that (1) R&D intensity has a positive and significant effect on the probability to introduce product innovations, process innovations, or both innovations together; (2) the share of R&D acquired from external sources has a positive impact on process innovation, and on the probability to introduce product and process innovation together, but not on product innovation alone; (3) the share of external R&D supplied by universities has a positive and significant effect on product innovation, but no correlation has been found with process innovation, while R&D acquired from other companies have a positive impact on process innovation but not on product innovation.
Keywords: External R&D; Product innovation; Process innovation; IV model (search for similar items in EconPapers)
JEL-codes: C36 L60 O31 O32 (search for similar items in EconPapers)
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