Privatization and economic returns to R & D investments

Federico Munari and Raffaele Oriani

Industrial and Corporate Change, 2005, vol. 14, issue 1, 61-91

Abstract: This article analyzes the impact of privatization on firms' expected R & D economic performance. We examine the effect of R & D investments on market value for a panel of privatized firms in Western Europe matched with different panels of privately owned firms. The results show that the effect is systematically higher for privately owned firms as compared to privatized firms. Moreover, the market valuation of R & D investments increases over time for privatized firms. This evidence is consistent with the hypothesis that organizational inertia defers the impact of privatizion on firms' R & D performance. Copyright 2005, Oxford University Press.

Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (11)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:14:y:2005:i:1:p:61-91

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Industrial and Corporate Change is currently edited by Josef Chytry

More articles in Industrial and Corporate Change from Oxford University Press and the Associazione ICC Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().